On Tuesday, Schroder European Real Estate Investment Trust (Reit) said net income growth and portfolio upliftment led to a 157% growth in profit in the six months to end-March.It also announced 4.9% growth in net asset value in the period, but its results failed to move its share price on the JSE.Schroder met a 5.5% dividend target on an annualised basis, declaring a 1.85 euro cents per share distribution for the end of the quarter.The company, which is also listed on the London Stock Exchange, said net asset value grew to €187.1m or 139.9c per share, with the company acquiring a Netherlands-based data centre and office premises during the period.The value of the company’s portfolio of 10 assets stood €237.3m at the end of March, representing 9.5% increase on the combined purchase price, and a 2.8% growth for the six months.The company is currently eyeing additional acquisitions, to be funded through the sale of its Casino supermarkets, which should provide investment capacity of be...
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