Blackrock assets double

ISEQ-listed property company, Blackrock International Land has reported pre-tax profits of €13.9m for the period since it was first listed in May of 2006 to December.

Its property assets for the same period are up 87% to €369m as a result of investments and increases in value.

Chairman Carl McCann said the group's gross assets have doubled since it started operations, including the transactions announced but not yet completed.

Blackrock said it is planning to invest €200m over the next one to two years.

In a statement released today the company said: "Blackrock’s activities have focused on the acquisition of further properties to increase the size of the portfolio, to achieve a balance between investment and development assets."

Meanwhile the company also said that rental income for the period was €3.8m, and net assets were €220.9m.

Blackrock International Land is a spin off of fruit distributor Fyffes.