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CORRECTED: RECI Q3 profit slips lower

By BFN News | 12:33 PM | Friday 08 February, 2013

Real Estate Credit Investments PCC said it made a profit of £4.1 million in the three months to Dec. 31, 2012, from £8.7 million in the preceding quarter to end-September. Over the period, its net asset value increased 11.5% to £1.45 a share. "RECI has enjoyed a strong third quarter of its financial year, buoyed by gains across the bond portfolio," the company said. "The investment team has been successful in identifying compelling investment opportunities in the bond markets, despite the backdrop of falling yields. RECI has also made significant progress with new investments in real estate loans." Story provided by

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