Great Portland Estates posts profit growth

Great Portland Estates has posted a rise in pretax profit for its financial year ended 31 March to £555.1m from £507.4m.

In the period revenue rose to £128.8m from £88.8m and net rental income increased to £75.5m from £66m.

It also recorded a £442.2m surplus from investment property, up from £380m a year earlier.

Its portfolio valuation grew by 15% during the year, during which it posted rental value growth of 9.9%.