Blackrock International Land expects improved first-half result

BLACKROCK International Land is anticipating an improved result for the first half of this year, on a year-on-year basis.

Management at the company, which is the property development spin-off of fruit distributor Fyffes, told shareholders at its annual general meeting in Dublin, yesterday, that good progress has been made on the planning front and the slide in property valuations slowed during the first half of the year.

“The rate of decline in property valuations slowed dramatically in the period and, reflecting this, the company anticipates that its net assets per share – at June 30 – will be of the order of €0.09 compared to €0.1032 at last year end.”