Spanish shoppers drive growth at Alpha Real

Shopping-hungry Spaniards drove continued growth at Alpha Real Trust, it reported on Friday.

The commercial property investment vehicle recorded adjusted earnings per share of 3p for the six months ended 30 September 2015.

Alpha Real’s net earnings per share – on an adjusted basis – were 3p for the period, the same as the corresponding period last year. Net asset value per share was 123.5p, up from 108.3p in September 2014.

It highlighted the performance of its investment in Madrid’s H2O Shopping Centre, with record visitor numbers in the first nine months of 2015. The mall’s valuation increased by 7% on an underlying Euro basis, to £71.5m.

The company also reported £5.3m in investments during the period. £3.2m was for the purchase of 20.5% of Active UK Real Estate Fund, while £2.1m went towards the purchase of central Birmingham development site Unity and Armouries.

A dividend of 0.6p per share will be paid on 18 December.