Halladale boasts 71% surge in profit (UK)

Halladale Group plc said its pre-tax profit for the six months to October grew by 71% with the average value of acquisitions and sales in the period totaling £141m against £28m previously.

The property co-investment, trading and development company posted first half pretax profits of 1.76 mln stg against 1 mln last time and upped its interim dividend to 1 pence a share from 0.7 pence previously.

'Performance of the Halladale Group continues to accelerate and I am pleased to report significant increases across all of our key performance benchmarks,' said chief executive David Lockhart.

On trading to date, Lockhart said there had been no let-up in activity, with a significant number of deals either completed or in the pipe-line.

'The second half of the financial year has started strongly and activity levels remain high... With our proven management skills and increased financial strength I view the future with great confidence,' said the chief executive.

The group sees investment demand from institutional and private investors remaining strong in 2005.

Source: Freeman

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