Blackrock anticipates share increase

Based on latest estimates for the period ISEQ-listed Blackrock International Land has announced that it expects an increase in its net asset value per share of in excess of 6% over the €0.355 that pertained on commencement of operations on 11 May 2006.

The estimated outturn takes into account projected translation rates and initial indications of period-end property values.

During the accounting period, the group announced expenditure on investment and development properties totalling €142m, bringing its gross property assets to almost €340m, an increase of more than 70%.

Net debt at the end of the period is expected to be approximately €90m.

The group is currently finalising a number of transactions that could see further investment before the year end in the order of €35m.