Great Portland Estates Plc. (GPOR.L) reported that profit for the year to 31 March 2013 rose to 180.6 million pounds from the prior year's 155.2 million pounds, with earnings per share increasing to 55.7 pence from the previous year's 50.2 pence.
European Public Real Estate Association or EPRA earnings per share was 6.9 pence, up from 5.6 pence in the prior year.
Operating profit for the year grew to 193.6 million pounds from 173.0 million pounds in the previous year.
Annual total revenue increased to 69.0 million pounds from last year's 57.9 million pounds. Net rental income was 57.1 million pounds, up from 46.4 million pounds in the prior year.
The company said that its board has declared a final dividend of 5.3 pence per share, which will be paid in July 2013, compared to 5.2 pence paid last year. Of this dividend, 1.2 pence per share will be a REIT Property Income Distribution (PID) in respect of the Group's tax exempt property rental business.
The company said it expects to continue outperforming: demand for space from prospective tenants is strong; exceptional development pipeline will provide material surpluses in the near-term and gives the company a platform for growth well into the next decade; reversionary portfolio, 53% of which has been acquired at attractive pricing during the recession, is rich with opportunities for value creation.
The company said its conservative gearing and plentiful, low-cost firepower, will enable it to execute its exciting growth plans and exploit new opportunities as it finds them.
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