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Stenprop holds dividend steady as decline in management fees dents profit

By BFN News | 07:38 AM | Friday 22 November, 2019


Property investor Stenprop reported a lower first-half profit after it earned less management fees, though the value of its assets rose. Pre-tax profit for the six months through September fell to £13.4m, down from £17.4m on-year, as management fee income fell to £0.4m, down from £9.1m. The company's diluted IFRS net asset value per share, an underlying measure of performance, rose to £1.39, up from £1.36. Stenprop held its interim dividend steady at 3.375p per share. Story provided by StockMarketWire.com

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