Acquisitive property group Real Estate Investors has announced record revenue and profit on the back of a string of deals.
The listed Birmingham-based property group, whose recent deals include 35-37 Great Charles Street, 33 Bennetts Hill which is becoming a Cosy Club and a retail development in Walsall among several others, said today revenue has risen by £1.3 million to £8 million and pre-tax profit climbed from £4.9 million to £6 million in the year to December 31, 2014.
Its dividend has been boosted by 50 per cent to 1.5p per share while its gross property assets were valued at £104.4 million, up from £76.2 million in 2013.
Chief executive Paul Bassi said today: "Record profits, gross property assets and dividend payments reveal an excellent year of progress that provides the basis for continued growth and delivery of a progressive dividend policy.
"Acquisition opportunities remain healthy and will continue to grow our portfolio.
"We will also make selected sales where we consider we have maximised our management and will capitalise upon our status as a Real Estate Investment Trust.
"We anticipate further rental growth and improved occupancy levels, benefiting from a growing regional economy that is clearly emerging as a major economic powerhouse in the UK."