TR Property Investment Trust PLC (TRY.L) on Monday reported lower profit for the first half, mainly impacted by decrease in gains on investments.
Profit from operations before tax decreased to £111.68 million, compared with £119.71 million a year earlier.
Gains on investments held at fair value declined to £64.54 million from £84.56 million last year.
Operating profit dropped to £115.05 million from £123.37 million a year earlier.
Total comprehensive income for the half year was £109.33 million or 34.45p per share, down from £117.91 million or 37.15p per share in the prior-year period.
Revenue earnings per share increased by 23.4% to 10.07p.
Total income for the six months amounted to £119.5 million, down from £129.15 million a year earlier.
Investment income increased to £33.05 million from £26.89 million in the same period last year, while rental income rose to £1.23 million from £724,000.
Net asset value per share reached 351.36p, a 7.4% increase from March.
The company has declared an interim dividend of 5.75p per share, up 1.8% from last year, to be paid on January 8, to shareholders of record on December 12.
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