21st May 2025 17:07
(Alliance News) - Helical PLC on Wednesday said its results reflect "decisive action taken by the group" as it swung to a profit in the 2025 financial year on a revaluation gain while revenue fell.
The London-focused property developer said it swung to a pretax profit of GBP27.9 million in the twelve months to the end of March from a loss of GBP189.6 million in the prior year.
The company swung to a basic profit per share of 22.80 pence from a loss of 154.6p a year ago.
Helical made a GBP2.6 million gain on revaluation of investment properties, swung from a GBP181.2 million loss in financial 2024.
Revenue was down 20% to GBP32.0 million from GBP39.9 million.
Helical proposed a final dividend of 3.50 pence per share, doubled from 1.78p a year ago.
The total dividend for financial 2025 is 5.00p per share, 3.5% higher than 4.83p in the prior year.
"Although macroeconomic and geopolitical uncertainties persist, the outlook for London commercial real estate has strengthened," Helical noted.
The firm said constrained supply, continued occupier focus on quality and early-cycle investment opportunities are expected to define market dynamics through the rest of 2025.
"Our results this year are a clear reflection of the decisive action taken by the Group over the past 12 months. This period has seen us recycle equity from the sale of GBP245m of investment assets, strengthening the balance sheet and unlocking the delivery of a substantial development pipeline," said Chief Executive Matthew Bonning-Snook.
"Going forward, the joint venture structure of our development activities will generate significant development management fees. Alongside these, we will start to recognise promote fees as the developments progress and we will see the benefits of the decision taken to reduce administration overheads by 25%," Bonning-Snook said.
Shares in Helical were closed flat at 235.00 pence in London on Wednesday.
By Michael Hennessey, Alliance News reporter
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