25th Sep 2020 10:56
Circle Property PLC - UK-focused regional office assets investor, developer and manager - Reports 2.9% net asset value per share growth to GBP2.85 as at March 31, the end of its financial year, from GBP2.77 the year before. This represents Circle Property's fourth successive year of NAV growth. Sees 12% year-on-year increase in independent valuation of company's portfolio of 14 UK assets to GBP139.5 million from GBP124.6 million. Pretax profit falls to GBP5.2 million from GBP15.2 million as gains on revaluation of investment properties drops sharply to GBP2.5 million from GBP12.6 million. Proposes final 2p per share dividend, taking total for financial year to 5.3p per share, down 16% from 6.3p per share in financial 2019. Cautiously optimistic regarding future performance.
Current stock price: 150.20 pence
Year-to-date change: down 27%
By Anna Farley; [email protected]
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