Why the Crown Estate’s profits plunged as returns to Treasury are cut

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleThe Crown Estate's operating profits slumped to £1.2 billion in the year to March, down from £1.4 billion, primarily due to a reduced boost from offshore wind. As a result, the amount of money being handed to the Treasury has been cut by more than half. Revenue account profit also tumbled to £487 million from £1.1 billion.Despite the profit drop, the net asset value of The Crown Estate increased to £16.7 billion from £15 billion, driven by a rebound in property values. Profits from its marine operation (excluding the impact of wind farm option fees) rose to £175 million, while real estate and development profits increased to £258 million, boosted by the West End. In fullCrown Estate returns to Treasury fall by almost £500 million amid slump in profitsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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