Ediston Property lifts first-half NAV/share and profit

Ediston Property Investment improved its EPRA net asset value per share to 109.67p in the six months to 31 March, from 107.7p six months earlier.

"The board believes shareholders should be very encouraged by the continued progress in the last six months with the growth in asset values and improved levels of portfolio income," said chairman William Hill.

The company's portfolio was valued at £184.7m at 31 March 2017, a rise of 1.8% on the £181.4m reported at 30 September 2016.

First-half pre-tax profit was £6.89m, up from £4.46m. Total revenue was £6.02m, up from £5.23m.

"The Company is in a good position to build further on this excellent record and the board believes that continued progress can be achieved in the second half of the year, particularly if it can grow its equity base and expand the investment portfolio."

At 11:18 BST, shares in Ediston were flat at 111p each.