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Urban and Civic flags lower receipts from house sales

The master developer suffered a fall in the value of its strategic land portfolio
Urban and Civic flags lower receipts from house sales

Given the expected slowdown in market transactions and sale prices this year, valuers' caution towards land developed for housebuilders is understandable. For master developer Urban and Civic (UANC), that sentiment contributed to a 2 per cent decline in EPRA net asset value (NAV) during the six months to the end of March against the prior year's comparable period, and a dramatic slump in pre-tax profit.

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