Tritax Big Box REIT profits rise modestly as costs weigh

Writer, Stock Market Wire
Wednesday, March 6, 2019 - 08:28

Tritax Big Box REIT reported a modest uptick in pre-tax profits as a jump in rental income was offset by rising costs.

For the 12 months ended 31 December 2018, pre-tax profits rose 1.9% as net rental income for the year rose 23% to £132.78m and and earnings -- stated as EPRA net asset value per share – grew 7.4%to 152.83p.

Administrative and other expenses, which included management fees and other costs of running the Group, rose to £18.07m from £14.16m.

The dividend was raised by 4.7% to 6.70 pence per share.

The company said Brexit does present significant risk for the UK economy, which could 'impinge upon the current positive attributes of our market.'

'We see good opportunities to continue to add assets to the portfolio at prices that create value at the point of purchase. Following the db symmetry acquisition, we now have the ability to bring through our own developments which are expected to contribute materially to earnings growth and our progressive dividend policy over the medium term.'

At 8:28am: (LON:BBOX) Tritax Big Box Reit Plc share price was +0.1p at 144.1p

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