Capital & Regional back in black

UK property fund manager Capital & Regional swung to a first-half profit of £18m yesterday, after a loss of £131m a year ago, helped by higher property values and disposal of assets. The owner of leisure centres and shopping malls said it sold ten properties for £378m, with its own share accounting for £80m.

However, the firm expects the pace of asset sales to slow down after the expected sale of its wholly owned property Great Northern in Manchester.