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Profits up at Capital & Regional

The retail property company Capital & Regional has posted a 8.6% rise in adjusted profits to £29.1m for the year to 30 December.

The company, which owns a £1bn UK portfolio of community shopping centres, increased like-for-like net rental income by 1.9% during the period.

It achieved annual savings of £1.2m through cost efficiencies and increased footfall by 3.1% in two months to the end of February.

CEO Lawrence Hutchings said: “This is another strong set of results that provides me with further confidence in our decision to focus on serving the non-discretionary, value and needs based end of consumer demand through our portfolio of community shopping centres.”

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