Alina Holdings PLC: 2024 Interim Results

On 27 September 2024, Alina Holdings PLC (ALNA) announced its unaudited interim results for the six months ended 30 June 2024. The company reported a net profit of £348,000 compared to a loss of £821,000 in the same period last year. Earnings per share increased to 1.53p from a loss of 3.62p per share. The reported book value per share slightly rose to 23.4p.

Despite a decline in gross rental income by 27% due to vacancies and property issues, total income reached £503,000, largely supported by strong financial holdings. Property operating costs were significantly reduced from £148,000 to £21,000, benefiting from service charge credits.

Alina continues with its property management strategies, including the sale of the Brislington property and efforts to attract tenants in Hastings after asbestos removal. The company also holds investments in DCI Advisors Ltd and HEIQ plc, with mixed results. The Board remains cautious about future market conditions and plans to raise cash through property sales.