Palace’s interims show the RT Warren acquisition delivering scale, with gross rental income increasing by 29% YoY to £9.2m and adjusted PBT by 17.5% to £4.4m. EPRA NAV increased marginally from 415p (Mar 18) to 421p benefitting from a 1.7% LFL valuation gain, although we see this falling back to 415p by the year-end due to the crystallisation of latent deferred tax upon the sale of 50 residential assets for £18m announced last week. However, we see further upside from ....