Asda Property assets up

Asda Property Holdings reported a 42 per cent increase in its net assets in the year to December, including a 40 per cent rise in the value of acquisitions made during the year. Over the past 30 months, Asda has spent pounds 63m on buying properties, but Tony Roscoe, managing director, said the best of the recent improvement in property values was now past.

Pre-tax profits increased from pounds 6.01m to pounds 6.25m and the dividend rose 10 per cent to 2.2p.