Workspace Group Plc (WKP.L) on Thursday reported profit for fiscal 2025, compared to a loss last year, helped by lower change in fair value of investment properties. The company also lifted its dividend for the full year.
The real estate investment trust posted pre-tax profit of 5.4 million pounds in fiscal 2025, compared to a pre-tax loss of 192.8 million pounds a year ago.
During the year, Workspace Group reported profit of 5.4 million pounds or 2.8 pence per share, compared to loss of 192.5 million pounds or 100.4 pence per share last year.
Adjusted underlying earnings per share were up 1.2 percent to 34.5 pence from 34.1 pence in fiscal 2024.
During the year, the change in fair value of investment properties, including assets held for sale, was a decrease of 56.3 million, compared to a decrease of 255.3 million in the prior year.
Annual revenue climbed to 185.2 million pounds from 184.3 million pounds in the prior year. The company's net rental income for the year declined 3.2 percent to 122.1 million pounds from 126.2 million pounds in the previous year.
The company said that its Board recommended a final dividend of 19.0 pence per share, taking the full year dividend to 28.4 pence per share, higher than last year's 28.0 pence per share. The final dividend will be paid on August 1 to shareholders on the register at July 4.
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