LONDON (ShareCast) - Office accommodation provider Workspace reported a 2.5% rise in net rental income to £12.1m as demand from small to medium sized businesses grew.
Total rent roll was up 8.2% over the quarter to £52.2m compared with the same time a year earlier. Like-for-like rent roll was flat in the quarter.
Commenting on the group's outlook, it said, "The UK economic outlook continues to be challenging. We are experienced in managing through difficult times and are taking action to maintain occupancy levels, improve rents and preserve operational cashflow."
Over the quarter it made a loss before tax of £45m after a property valuation reduction. Workspace's diluted adjusted net asset value per share fell 8.4% during the period to 285p.
-0.75p ()
