Interim Results
AUDAX PROPERTIES PLC PRELIMINARY ANNOUNCEMENT OF THE RESULTS FOR THE HALF YEAR TO 30 SEPTEMBER 2002 RESULTS Pressure to buy commercial property has built up rapidly over the past few months. Private investors took the lead in forcing down yields, and were encouraged by aggressive lenders offering very high loan-to-value ratios on well-let properties. Institutional property investors have also returned to the market, encouraged by property's cumulative outperformance of equities and gilts over all periods up to ten years. After property has outperformed UK equities by a further 20% so far in