AIM-listed Public Service Properties Investments revealed an increase in net asset value this morning.

The company, which invests in government-occupied property in the UK, Germany and Switzerland, saw adjusted NAV rise 1.5% to 199p a share in the six months to 30 June.

The value of its property portfolio fell £200,000 to £238.4m, but this was counterbalanced by a 33% increase in rental income, due to the effects of index-linked rents.

Chairman Patrick Hall, said: ‘Despite challenges posed by the credit crisis, the Group’s long term leases, indexed rents, conservative leverage and further geographical diversification support a positive outlook.’