UK property company Helical Bar swung to a first-half pretax profit, while its underlying net asset value slipped lower, and said it expected to sell more non-core assets in the coming months.

Helical's diluted EPRA net asset value per share was 254 pence at September 30, down from 261 pence a year earlier. It posted a pretax profit of 4.1 million pounds for the six months, up from a loss of 3.2 million pounds.

EPRA, the European Public Real Estate Association, provides a number of reporting benchmarks for property companies.

The Group has taken great strides towards implementing its strategy of recycling capital with the acquisition of over 250 million pounds of investment property since January 2010, doubling our annual gross rental income from 15 million pounds per annum to over 30 million pounds, Chief Executive Michael Slade said.

In the coming months, we will continue to make progress towards meeting our objectives with further sales of non-core assets, Slade said in the results statement on Thursday.

The company would continue to invest in income-producing assets where it saw good value and could apply its asset management skills, he said.

Helical maintained its interim dividend at 1.75 pence.

(Reporting by Andrew Macdonald; Editing by Will Waterman)