PROPERTY developer Helical Bar said yesterday that pre-tax profits topped £100m for the first time last year after selling some of its major London developments.
The group made £101.7m in profit in the year to 31 March compared with £5m in 2013, boosted by £65m of development earnings including the sale of Brickfields in White City to Imperial College.
Its net asset value per share rose by 18.6 per cent to 313p while the like-for-like value of its properties was up 8.9 per cent to £802m.
“We have had an outstanding year,” chief exec Mike Slade said. “No doubt there will be a few blips along the way, but we remain positive on the prospects for our market place. We continue to focus on London offices and high yielding regional property for the investment portfolio while building out the London development programme.”