July 25, 2017 / 6:17 AM / in 3 years

BRIEF-Segro posts H1 pretax profit of 397.1 mln pounds

July 25 (Reuters) - SEGRO PLC:

* INTERIM DIVIDEND UP 5 PERCENT TO 5.25 PENCEPER SHARE

* H1 PRETAX PROFIT 397.1 MILLION STG VERSUS 200.7 MILLION STG YEAR AGO

* IN HY, EPRA NAV PER SHARE UP 5.4 PER CENT TO 504 PENCE

* IN HY 28 PER CENT INCREASE IN NEW RENT CONTRACTED IN PERIOD TO £27.5 MILLION

* IN HY, 3.9 PER CENT LIKE-FOR-LIKE NET RENTAL INCOME GROWTH, INCLUDING 5.9 PER CENT IN UK AND STABLE RENTS IN CONTINENTAL EUROPE

* TOTAL DEVELOPMENT CAPEX FOR FULL YEAR EXPECTED TO EXCEED £350 MILLION

* “PRICING LEVELS MEAN THAT, FOR TIME BEING, IT REMAINS MORE ACCRETIVE TO FOCUS OUR INVESTMENT ACTIVITY ON DEVELOPMENT RATHER THAN ACQUISITION”

* “CONTINUE TO EVALUATE OPPORTUNITIES TO DISPOSE OF MORE MATURE ASSETS” Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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