Finance

REI swings back into half-year profit, but revenue dips

By 2021-09-21T07:51:00

Paul bassi rei new

Real Estate Investors (REI), the Birmingham-based REIT, has seen pre-tax profits rise to £9m for the six months ending June 30, reversing a loss of £3.8m a year earlier.

REI told investors the recovery is down to a 1.88% increase in property values and an and interest hedging costs surplus of £716,000. The company says the increase in value demonstrates “portfolio stability in an extremely challenging marketplace.”

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