Ciref Ltd (LSE: CRF.L - news) reported a higher pretax profit for the full year reflecting a strong performance across the business, but said the short-term outlook for the UK property sector is 'mixed', with concerns over the 'credit crisis' affecting trading conditions.

The property investment and development company posted a pretax profit of 5.59 mln stg for the year to Sept 30, 2007, against 4.48 mln last year.

Its net asset value per share rose to 150.39 pence from 143.42 pence the year ago.

The company also raised its final dividend by 50.71 pct to 3.18 pence, which takes the total dividend to 6.36 pence for the year.

Ciref said it believes that its conservative financing structures and long-term value enhancement strategies will ensure it is able to deliver on its long-term objectives of solid dividends and consistent capital growth.

Nov 21, 2007