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Alternative Income REIT swings to loss as portfolio value falls

By BFN News | 09:42 AM | Tuesday 20 October, 2020


UK commercial property assets owner Alternative Income REIT swung to a loss as net asset value was dented by a virus-led fall in the value of its property portfolio. For the year ended 30 June 2020, the company reported a pre-tax loss of £5.05 million, compared with a profit of £4.23 million year-on-year, while net asset value fell to £67.29 million, and of 83.58 pence per share from £76.32 million and 94.81p per share year-on-year. Dividends of 5.0p a share were declared, down from 5.5p a share last year. 'Whilst the full impact of the COVID-19 pandemic on the economy and property sector is still to be fully understood, the board considers the company to be well positioned to survive this period of uncertainty,' the company said. At 9:42am: (LON:AIRE) share price was +0.5p at 52.25p Story provided by StockMarketWire.com

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