LONDON, May 22, 2013 /PRNewswire/ --
London Property Investment and Development group, Great Portland Estates, announced a strong set of results today with portfolio valuation growth of 8% over the year.
Chief Executive Toby Courtauld stated that the performance was largely driven by strong development and lettings activity during the year enabling the company to run much faster than the market.
With NAV per share up 11%, rent roll up and earnings around the 30% mark and development profits of more than 50%, its Finance Director Nick Sanderson said the financial performance had come in ahead of market expectations.
The outlook remains positive and property market conditions supportive for the company, particularly in the West End where 81% of its business sits.
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SOURCE Great Portland Estates