Property company Blackrock International Land has said it spent almost €140m on investments this year, while it sold off assets worth almost €37m.
In a trading update, the company said it expected the value of its assets to grow by around 4.4% this year, with the strength of the euro against sterling knocking a percentage point off growth.
But Blackrock said it seemed 'prudent' not to assume any significant growth in the first half of 2008.
In a separate announcement, Blackrock said it had exchanged contracts for the sale of a three-acre site in Edinburgh for €6m, making a profit after costs and before tax of €2.6m. The land is at Calder Road, Sighthill, in Edinburgh.
The company says that of its original landholding at Sighthill, there remains 4.25 acres which is suitable for a range of commercial uses.
