Primary Health Properties PLC (PHP.L), a real estate investment trust, Wednesday reported profit before tax of 26.1 million pounds for the full year, lower than 56.9 million pounds in the previous year, reflecting non-cashflow losses on the valuation of the Group's property portfolio, convertible bond and interest rate derivatives.
Net profit declined to 27.3 million pounds or 2.0p per share from 56.3 million pounds or 2.2p per share last year.
Excluding one-time items, adjusted earnings were 95 million pounds or 6.6p per share, higher than 93 million pounds or 6.4p per share a year ago.
EPRA earnings increased to 98 million pounds or 6.8p per share from 95.9 million pounds or 6.6p per share last year.
Net rental income grew 5.5 percent to 149.3 million pounds from 141.5 million pounds a year ago.
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