21st Oct 2015 11:32
LONDON (Alliance News) - NewRiver Retail Ltd on Wednesday said the second quarter of its financial year showed that it has the ability to deploy equity capital into targeted acquisitions, following its recent GBP150 million fundraising.
Acquisitions completed between July 1 and September 30 amounted to GBP222.3 million. Assets under management increased to GBP1.00 billion from GBP849.0 million over the same period, with the vast majority now on the company's balance sheet.
The company previously announced a second quarterly dividend of 4.5 pence per share, equating to a total of 9p, for the half year to September 30.
"The company's risk-controlled development programme is growing significantly. Our pub portfolio and convenience store programme for the Co-operative Group is advancing well and we are making good progress on major town centre developments in Burgess Hill and Oxford, which promise to make a real difference to these town centres, in turn creating significant value for the company and its shareholders," Chief Executive David Lockhart said in a statement.
Shares in NewRiver Retail were up 1.0% at 343.50p on Wednesday shortly after midday in London.
By Samuel Agini; [email protected]; @samuelagini
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