Blackrock International Land has reported pretax profits of €13.1 million for 2007, down from €19 million in 2006.
However the Fyffes spin-off property company said its net asset value increased 4.2 per cent to €230.3 million for the full year, while property sales amounted to €38.4 million.
Total investment expenditure during the year, including joint ventures, was €140.7 million.
The company warned today that it did not expect significant asset growth in the first half of this year.