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Real estate company Tritax EuroBox reported higher first-half profit on an increase in rental income as e-commerce activity boosted demand for logistics space.
For the six months ended 31 March 2021, pre-tax profit was €41.2 million, up from €27.8 million last year as rental income rose to €19.4 million from €17.4 million.
The portfolio value at the period end was €843.4 million, up from €839.3 million seen on 30 September.
'This reflected a like-for-like valuation increase of 3.4% during the period, driven primarily by yield compression. We expect this yield compression to continue through 2021, as relevant transactional evidence is recorded,' the company said.
At 9:19am: (LON:EBOX) Tritax Eurobox Plc Ord Eur0.01 Gbp share price was 0p at 93.8p