by Michael Susin
Mountview Estates Plc on Thursday reported a 16% increase in pretax profit for the first half of fiscal 2022 and announced a dividend of 500 pence per share.
The asset-investment company posted a pretax profit of £15.6 million ($20.8 million) for the period ended September, compared to GBP13.5 million for the same period a year ago.
Turnover rose 36% to GBP30.7 million, while its net assets per share – a key industry metric – rose 3.8% to GBP101.90 on September 30 at GBP101.90. The company said the performance was boosted by additional sales in anticipation of the stamp. The duty holiday – a buyer’s tax payable to the government on the sale of all properties in the UK – expires on 31 March.
The Board declared an interim dividend of 500 pence per share, including an enhanced dividend of 225 pence and a special dividend of 275 pence, taking into account its cash position.
The Board does not expect an interim dividend to limit the final dividend payout, but it would be prudent to assume that the dividend would be kept at 225 pence per share.
Shares were up 450 pence, or 3.3%, at 14,200 pence at 0921 GMT.
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