Alpha Real Trust Ltd on Friday said its annual profit plummetted, but stressed it is well placed to carry out portfolio growth.

The Guernsey-based property-finance investor said its net asset value at March 31 was 216.8 pence per share, up 0.4% from 216.0p per share a year prior. This reflects a ‘combination of improved adjusted earnings’ with ‘positive foreign exchange movements mitigating to a certain extent the fair value movements in investments’, Alpha Real Trust explained.

Pretax profit fell to £835,000 from £8.5 million in the year ended March 31. This was partly attributed to total operating expenses of £4.5 million. No further details were disclosed.

Revenue was £6.7 million, up 22% from £5.5 million the year before.

Alpha Real Trust declared a total dividend of 4.0p per share, unchanged from financial 2022.

Looking ahead, Alpha Real Trust said it is well-placed to capitalise on investment opportunities and is committed to growing its investment portfolio.

Chair William Simpson said: ‘The company is currently focussed on its loan portfolio and also on its wider investment strategy which targets investments offering inflation protection via index linked income adjustments and investments that have potential for capital gains.’

Shares in Alpha Real Trust were down 6.0% at 128.36 pence each in London on Friday morning.

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