The company, which operates in
Revenue remained broadly flat at
During the year the company opened its new, partially complete marina in
The firm said the occupancy rate across its real estate portfolio rose to 86% compared with 85% a year earlier, despite losing two restaurant tenants holding four units between them. One of these units was immediately assigned to a new tenant.
At the period-end the firm said its total portfolio was valued at
Looking ahead, the group said it is focused on its plans towards realisation of land assets and development of other sites to release cash and to grow the asset base.
"The group is now well placed to take advantage of increasing demand for its real estate portfolio and to drive revenue increases from marine-related and car park trading businesses," the firm said.
Despite its improved performance the firm said it will maintain its policy of not paying a dividend. However it said it remains "conscious" of the importance of a dividend to many shareholders.
The group said it continues to work towards the successful realisation of development sites with the objective of reducing debt levels and consequent saving in debt servicing costs.
"Achievement of this objective and the prospects of future investment opportunities will be a major factor in determining future dividend policy,"
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