Companies: APT   

This high-performing retail warehouse and central London office property group, is, according to analyst Adrain Elwood of brokers Teather & Greenwood, clearly undervalued. The net asset value of the company has increased 115% in the past three years and is expected to keep on rising as both its sectors continue to enjoy strong growth. Pre-tax profits at the interim stage increased from £5.6m to £8.4m and gearing has been reduced from 79% to 66%. Dividends and yields, currently at 3.6p and 1.9%, are expected to rise with NAV, as investments deliver paybacks and demand for office space in Central London continues to push up property prices.