LONDON (dpa-AFX) - TR Property Investment Trust PLC (TRY.L) Monday reported that its first-half profit from operations before tax surged to 119.71 million pounds from last year's 31.08 million pounds.
Earnings per ordinary share climbed to 37.15 pence from 9.45 pence a year ago. Revenue earnings per share grew 11.6 percent to 8.16 pence from 7.31 pence last year. Meanwhile, the revenue earnings were still significantly below September 2022 levels, the company noted.
Total income surged to 129.15 million pounds from 43.98 million pounds a year ago. Investment income grew to 26.89 million pounds from last year's 23.16 million pounds.
Further, the Board has maintained the interim dividend at the prior year level of 5.65 pence.
Looking ahead, Marcus Phayre-Mudge, Fund Manager, said, 'We still expect it to take some time for earnings to return to previous levels, but we do see areas where there is the opportunity for revenue growth. We also see opportunities for capital activity and capturing some of those capital events for our shareholders may come at the expense of income.'
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