Mucklow’s interims report a continuation of the positive trends in occupier markets seen last year but a more subdued period for investment markets. Strong occupier demand resulted in a reduction in voids to 4.7% at December 2015, which helped underlying PBT increase 16% to £7.5m. After the strong valuation gains seen in the last two years, there was a further small uplift, leaving NAV/share up 2.6% at 438p. The interim dividend was increased by 3% to 9.59p.