LONDON (dpa-AFX) - Derwent London Plc (DLN.L), a British property investment and development firm, on Thursday returned to annual profit before tax, helped by a narrower revaluation deficit.
For the 12-month period to December 31, 2024, the company reported a profit before tax of 116 million pounds, compared with a profit before loss of 475.9 million pounds registered last year.
Net profit stood at 115.9 million pounds or 102.93 pence per share as against a loss of 476.4 million pounds or 424.25 pence per share a year ago. EPRA earnings per share were 106.5 pence, higher than 102 pence per share last year.
Profit from operations was 156.4 million pounds, compared with a loss of 428.9 million pounds in 2023.
The revaluation deficit narrowed to negative 2.7 million pounds from negative 581.5 million pounds last year. Gross rental income improved to 214.8 million pounds from last year's 212.8 million pounds.
Net property and other income moved up to 198.3 million pounds from last year's 190.5 million pounds. Gross property and other income was 276.9 million pounds, up from the previous year's 265.9 million pounds.
The company has announced a final dividend of 55.5 pence per share, bringing the total full-year dividend to 80.5 pence per share, up from last year's 79.5 pence per share. It will be paid on May 30 to shareholders on the register as of members April 25.
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