Workspace ups dividend 10% amid rise in rental income

  • Wed 13 Nov 2019 07:47

    Office space provider Workspace booked a 3% fall in first-half profit, owing to an absence of asset disposal proceeds.

    Rental income, however, rose and the company lifted its dividend by 10%.

    Pre-tax profit for the six months through September amounted to £99.1m, down from £101.6m on-year. Net rental income rose 11% to £60.1m.

    The company's EPRA net asset value per share, an underlying measure of performance preferred by the company, rose 2.7%.

    Workspace declared an interim dividend of 11.67p per share, up 10% on-year.

    'Our robust enquiry and letting levels reflect the appeal of our offering as an increasing number of occupiers look for flexible terms for their office space requirements,' chief executive Graham Clemett said.

    'The 10% increase in the interim dividend we have announced today reflects our success to date and the board's continued confidence in our future growth prospects.'

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Workspace Group (WKP)

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