Cardiff Property records £3.2m profit

FINANCE: The Cardiff Property has reported total pretax profit of £3.2m in the year to 30 September, more than double the £1.3m figure in 2013. Its commercial and residential portfolio, comprising properties mainly in the Thames Valley, was valued by Cushman & Wakefield at £34.5m. Net assets at the year end were £19.7m, up from £16.9m in 2013. This is equivalent to 1,500p per share, up from 1,277p in 2013, an increase of 17.5% over the year. Chairman J Richard Wollenberg said: “There are still economic uncertainties concerning the eurozone and the wider international economy, which will affect and probably delay further economic recovery in the UK; however, I look forward to reporting further progress at the half-year stage.” amber.rolt@estatesgazette.com