Rising real estate values push Grosvenor to profit

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp KCS-content Show Comments ▼ THE DUKE of Westminster’s Grosvenor Properties swung into profit last year, the firm announced yesterday, as an uplift in property valuations propelled its recovery. The firm posted a pre-tax profit of £394.8m for 2010, from a £235.8m loss the previous year. Total assets rose 2.7 per cent to £4.2bn while net assets rose 5.8 per cent to £2.6bn.Gross rents for the firm, which owns swathes of Mayfair and Belgravia, declined 10.6 per cent to £284m. But revenue profit, which Grosvenor views as the best measure of its underlying performance, rose 3.2 per cent to £64.2m.The company said it plans to reinvest in development projects to benefit from the continued rise in property values following two years of losses, as well as beefing up its fund management business. whatsappcenter_img Tags: NULL Rising real estate values push Grosvenor to profit Tuesday 19 April 2011 8:10 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Sharelast_img read more