Property developers Blackrock International have today reported pre-tax profits of 12.2 million euro for the first half of 2007.

The company started operations in May of last year and its net assets have increased by 11.2 per cent.

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Blackrock spent 56.6 million euro during the period, and this involved acquisitions and investments in Dublin, London, Brussels, Milton Keynes and Edinburgh.

The company’s total investments since its commencement totals at 209.5m euro, and it has revealed it intends to further its expansion with 200m euro investments in the next two years.

Net assets per share were 39.49 euro, representing an almost four euro increase since the company was floated.

(JM/SP)