Property investor CLS Holdings reported a slight fall in annual profits due to lower gains from disposals.
The company on Wednesday said pre-tax profit slipped to £91.5m from £96.5m in 2020. Revenue was flat at £139.8m and net rental income edged down to £108m from £109.8m.
A final dividend of 5.35p a share was declared for a total of 7.70p a share, up from 7.55p.
“We faced headwinds from the strengthening of sterling and the impact of (Covid) pandemic restrictions which temporarily reduced occupancy but our operational performance, especially in the second half of the year, was excellent with collection and leasing activities at pre-pandemic levels,” said chief executive Fredrik Widlund.
“In tandem with the end of all restrictions and finding ways to live with Covid-19, we remain convinced of the attractiveness of offices as an asset class and believe that our portfolio of affordable office space in attractive locations is well placed to capture future occupier demand,” the company said.
