Daejan Holdings earnings slide in preliminary results

Property company Daejan Holdings announced its preliminary results for the year to 31 March on Wednesday, with its investment property figure growing to £2bn, from a restated £1.86bn last year.

The FTSE 250 firm said its net rental and related income from investment property totalled £68.19bn for the year, from £58.94m, although profit before tax slipped to £173.24m from £277.54m.

Daejan’s total equity was £1.48bn, up from £1.35bn, with equity shareholders’ funds per share sitting at £90.82 compared to £82.59 in 2015.

Earnings per share were £8.77, down significantly from £13.95.

“The board has recommended a final dividend of 58p per share in respect of the year ended 31 March 2016 payable on 11 November 2016 to shareholders on the register on 14 October 2016,” the company’s statement read.

“This will make a total dividend for the year of 93p.”