NAV at REI dips, but revenue rises

Paul bassi rei new

Midlands-focused property group Real Estate Investors (REI) has posted a slight dip in net asset value (NAV) and a sharp decline in profit in its half-year results.

NAV per share dipped 0.7% during the six months to the end of June to 68.8p, while pre-tax profit plunged 67.9% to £1.7m. However, underlying pre-tax profit, the group’s preferred measure, leapt 17.9% to £4m.

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