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Real Estate Investors PLC - Birmingham-based investment trust with a portfolio of commercial property - Revenue falls to £11.5 million in 2023 from £13.3 million a year earlier. Swings to pretax loss of £9.4 million from a profit of £13.3 million. Pays out dividend of 2.5 pence, unchanged from a year ago.
Chief Executive Paul Bassi says: ‘We have a healthy pipeline of sales in legal proceedings with completions anticipated in H1 2024 and we will continue to capitalise on ongoing demand for smaller lot sizes from private investors and special purchasers. We will be holding our larger assets for income until corporate and institutional buyers return to the market. In the meantime, the business is operationally robust and we will continue intensively managing assets to maximise income and reduce vacancy levels.’
Current stock price: 33.01 pence
12-month change: up 16%
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