23rd Nov 2020 15:40
Wynnstay Properties PLC - London-based property investor - Reports a decline in pretax profit to GBP538,000 for the six months ended September 29 from GBP1.1 million the year before. This results from property income falling to GBP1.1 million from GBP1.2 million and a GBP440,000 profit on sale of investment property the year before that did not repeat. Net asset value per share falls 3.6% to 800 pence as at September 29 from 830p the year prior. Interim dividend per share increases by 6.7% to 8.0p from 7.5p.
Chair Philip Collins: "I have previously reported on our plans to relet the two vacant units at Oakcroft Business Centre in Chessington. With much of the commercial property market and many businesses being in lockdown during the spring and early summer, while there was some interest from potential tenants, none came to fruition. Accordingly, we took the decision to explore interest in a sale of the entire freehold property of three units while continuing also to offer them for letting singly or in combination. There has been interest from potential purchasers as well as from potential tenants."
Current stock price: 340.50p
Year-to-date change: up 13%
By Anna Farley; [email protected]
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