Blackrock International Land has announced pre-tax profits of €12.2m for the first six months of this year.
The property firm spent €56.6m during the period, which involved acquisitions and investments in Dublin, London, Brussels, Milton Keynes and Edinburgh.
Its property sales from January to June totalled €27.5m.
That means the company's net assets stood at €230.4m, up 11.2% from the time it was admitted to the stock exchange in May 2006.
Net assets per share were 39.49 cent, compared with 35.53 cent when the company was floated.
Blackrock has set itself the target of reaching gross property assets of €1 billion by 2011.
