Palace Capital has slumped to a £12.4m loss and paused its disposals programme.
Steven Owen, interim executive chair, said: “We have decided to pause the timing of material property disposals for the time being due to significant volatility and uncertainty and this remains the case. However, we are continuing to successfully sell small, individual assets which lend themselves better to private buyers and special purchasers, the proceeds of which have been used to further reduce gross debt from that reported at the half-year end.”
Palace made an IFRS loss of £12.4m for the six months to the end of September, down from an £8m profit for the same period in 2021.
