February 22, 2018 / 7:51 AM / 3 months ago

British property firm Intu posts higher NAV in 2017

Feb 22 (Reuters) - British shopping centre landlord Intu Properties Plc reported a small rise in full-year NAV, helped by strong tenant demand.

The owner of popular shopping malls such as Manchester’s Trafford centre said adjusted diluted net asset value per share (NAV) rose to 411 pence for the year ended Dec. 31, from 404 pence a year ago.

The company, which agreed to be bought by rival British shopping centres owner Hammerson Plc for about 3.4 billion pounds ($4.56 billion) in December, said full-year like-for-like net rental income grew 0.5 percent. (Reporting by Justin George Varghese and Radhika Rukmangadhan in Bengaluru; Editing by Gopakumar Warrier)

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