Cap & Regional is back in black

Kasmira Jefford
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CAPITAL & Regional said yesterday that one of its founders Xavier Pullen has stepped down from the board, as it reported a return to profit.

The shopping centre owner said it made a pre-tax profit of £3.7m in the six months to 30 June, compared with a £9.2m loss the previous year.

Rent at its UK shopping centres, including Kingfisher in Redditch, rose £0.9m year-on-year to £71.5m.