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Derwent logs YOY fall in H1 EPS, agrees £103M sale of London property

Derwent London PLC said its International Financial Reporting Standards EPS for the half was £1.18, a decrease from £1.20 in the year-earlier period.

Underlying EPS came to 51.34 pence, compared to 51.77 pence in the year-ago period.

Earnings attributable to equity shareholders totaled £131.8 million, a decline from £134.0 million in the prior-year period.

The company raised its interim dividend 9.9% to 21 pence per share from 19.10 pence per share in the first half of 2018. The dividend will be paid Oct. 18 to shareholders on record as of Sept. 13.

Derwent said it exchanged contracts to sell The Buckley Building in London for £103.0 million before costs, reflecting a 4.8% premium from the asset's December 2018 book value. The property is being sold to clients of CBRE Global Investors. The sale of the 85,100-square-foot property reflects a net yield to the purchaser of 4.43%.