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Benchmark Prepares to Weather the Storm

LONDON-Benchmark Group the specialist Central London investor and developer unveiled a 39% increase in pre-tax profit for the year to 30 June 2001. It claims to be in a strong defensive position to withstand any economic shocks.

By Graham Parker | Updated on September 24, 2001

LONDON-Benchmark, the central London specialist, saw its profits rise 39% to £21.5 million in the year to 30 June 2001, and net asset value rose 10.5% to 373.9 pence per share. The company is also returning capital to shareholders with a 60 pence special dividend following the sale of its largest West End properties into the West End of London property Unit Trust.

But Chief Executive Nigel Kempner told GlobeSt.com that the outlook was now very uncertain. ‘It has become almost impossible to forecast events after 11 September,’ he said. ‘Short term one has to be cautious, but the underlying factors in the West End market remain strong.’

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