SEGRO’s profits jump 23%

Industrial giant SEGRO’s profits jumped by 23% in the six months to 30 June, boosted by a shortage of warehouse space.

The group’s adjusted pre-tax profit came in at £91.2m, compared with £74.2m a year earlier. This was due to a rise in rental values and its acquisition of Aviva’s share of the airport property partnership.

The value of its assets also rose by 5.4% to 504p. The portfolio is now valued at £5bn.