Business
Interim Results
Interim Results.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n RNS Number : 1430E Real Estate Investors PLC 24 September 2008 \n \nReal Estate Investors PLC \n(\"REI\" or \"the Company\")\n\n\nInterim Results for six months ended 30 June 2008\n\n\nReal Estate Investors PLC (AIM: RLE), the AIM listed property group, announces its results for the six months ended 30 June 2008.\n\nHighlights to date:\n\n\n\nBalance Sheet cash at 30 June 2008 of £22 million (2006: £11 million)\n\n\n\n\n\nPortfolio valuation plus inventories of £49 million (increase of £6 million)\n\n\n\n\n\nProfit before tax for the period of £663,000\n\n\n\n\n\nNet assets at 30 June 2008 of £35.8 million\n\n\n\n\n\n£2.4 million acquisition of Bridge Street, Walsall\n\n\n\n\n\n£4 million purchase of York House, Birmingham city centre (post 30 June 2008)\n\n\n\n\n\nLettings to Adroit Construction, United Business Centres, Vantis PLC and Cafe Nero, plus additional upward rent reviews and lease renewals (post June 2008) of approximately £200,000p.a\n\n\n\nFor further information please contact:\n\nEnquiries:\nReal Estate Investors plc +44 (0)121 524 1174\nPaul Bassi\n\nSmith & Williamson Corporate Finance Limited +44 (0)20 7131 4000\nAzhic Basirov / Siobhan Sergeant\n\n\nNotes to Editors\n\n\n\nREI is an AIM listed property investment and development company specialising in commercial property throughout the Midlands and Central England\n\n\nREI is focused on delivering shareholder value through returns generated from strong yields and capital enhancements. This is achieved by targeting investments in orphaned, distressed, part-let and underperforming commercial property assets\n\n\nREI's Board is led by respected property investor Paul Bassi, who has over 23 years of property experience. Mr Bassi is also co-founder and chairman of Bond Wolfe Auctioneers and deputy chairman of Bigwood Cha...