Local Shopping REIT back in profit

THE LOCAL Shopping Real Estate Investment Trust (REIT) yesterday reported its portfolio of 629 properties turned a profit of £1.75m during the six months to 31 March, up from a loss of £1.55m during the same period in 2013. “This welcome return to profit reflects the resilience of our occupier base, some positive sentiment in the investment market and the hard work of our team,” said executive director Steve Faber. Shares rose 1.22 per cent to 31p.

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