Company said it had ‘significant financial capacity to benefit from weaknesses’ as it announced its 2017 results.
The Duke of Westminster’s property group reported an 81% increase in revenue profit to £143.5m, driven by particularly large gains in its Americas business, which more than doubled its revenue profit between 2016 and 2017.
However, its total returns plummeted to 2.7% from 8% in 2016, reflecting what it described as “weak valuation movements in the UK and Europe”, as well as sterling’s appreciation.
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