19th May 2025 09:02
(Alliance News) - Harworth Group PLC on Monday said it hopes the UK-US trade deal, and the pause in US tariffs, will bring stability to its business as it continues to make progress towards its financial targets.
"Despite a global backdrop that is more volatile and challenging today than two months ago when we last updated the market, we entered 2025 on a robust footing," Chief Executive Lynda Shillaw said in a statement.
The CEO of the Rotherham, South Yorkshire-based regenerator of land for sustainable development said the business has seen "significant" operational momentum across all parts of the business in 2025 to date.
Harworth continues to progress towards the delivery of its targets of GBP1 billion EPRA net disposal value by the end of 2027, and growing its investment portfolio to GBP900 million by the end of 2029, she said.
Harworth shares were up 1.2% at 172.00 pence each in London on Monday morning.
Dry weather in the UK has helped the company to advance enabling and infrastructure works, supporting a priority of increasing the direct development of Industrial & Logistics stock, Harworth said.
Falling interest rates should support the business, it said, although this may be tempered by the impact of macroeconomic events, the impact of the UK government's spending review, and regulatory and policy changes.
But the recently announced UK-US trade deal, and the pause in global tariffs, should be positive for its sector as businesses have more stability, Harworth said.
"We are seeing a steady level of enquiries from occupiers across our pipeline and would expect these to pick up as geopolitical and economic tensions improve, and requirements to onshore supply chains and manufacturing manifest themselves."
Shares in Harworth were 1.2% higher at 172.00 pence each in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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