Hansteen shines after acquisitions

Property investor Hansteen Holdings yesterday posted a sharp increase in full-year profits, as its real estate portfolio topped £1bn for the first time. Pre-tax profits at the firm jumped to £46.2m from £8.9m a year earlier, driven by rental returns from acquisitions it made over the last year. Normalised income profit rose to £30.8m from £25.7m. The FTSE 250 component bought £78m of properties in 2012.