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


Related content

Broker Forecast - Barclays Capital issues a broker note on Tritax Big Box Reit Plc

Barclays Capital today downgrades its investment rating on Tritax Big Box Reit Plc (LON:BBOX) to underweight (from equal weight) and cut its price target to...

Thu, 22/08/2019 - 08:10


Tritax Big Box REIT hikes interim dividend 2.2%, 'on track' to hit FY target

Real estate investment trust Tritax Big Box REIT posted a 5.7% increase in first-half operating profit as it upped its interim dividend by 2.2%.

Operating...

Thu, 08/08/2019 - 07:49


Hammerson yet to nail a catalyst that unlocks value for shareholders

Hammerson’s shares continue to look very cheap on both a dividend yield and net asset value (NAV) basis, its prime outlet sites are proving...

Mon, 29/07/2019 - 13:26


Logistics firm set for re-rating after completing turnaround

Author: 

As the largest British logistics company, Wincanton (WIN) received plenty of media coverage in the first quarter of the year as the nation...

Thu, 11/07/2019 - 00:00


Tritax Big Box REIT secures new £200m loan facility

Tritax Big Box REIT entered into a new £200m credit facility with a syndicate of its relationship lenders to support the company's future investment and...

Mon, 17/06/2019 - 09:58