Circle Property rises on annual results

The price of shares in AIM-listed office developer and manager Circle Property (LON:CRC) has risen by 1.83% to 150.20p (as of 10:10 BST) after reporting increases in net asset value for the year ended 31st March. Operating profits for the period were up by 17% but pre-tax profits were down by 66% due to lower gain on valuation increases.

Chief executive John Arnold commented: “Our regional office assets have been individually selected by virtue of their strength of location and letting prospects which, alongside our active management expertise, has enabled Circle to deliver a very resilient performance during the year.

Our approach in providing flexible regional commercial work places means that we are cautiously optimistic about our future performance“.