Here’s why the BWP (ASX:BWP) share price is heading higher today

The BWP Trust (ASX: BWP) share price is on the move on Wednesday following the release of its half year update.

At the time of writing, the commercial property company’s shares are up 1% to $4.33.

How did BWP perform in the first half?

This morning the Bunnings landlord delivered a half year result that was largely flat on the prior corresponding period.

For the six months ended 31 December, BWP reported revenue of $76.1 million, which compares to $76.25 million for the same period last year.

It was a similar story for its profit before gains on investment properties, which came in at $56.9 million. This compares to $57.15 million a year earlier.

However, its overall profit for the first half climbed 6% over the prior…