27th May 2015 09:51
LONDON (Alliance News) - Property company Urban&Civic PLC on Wednesday said its net asset value per share rose in the first half of its financial year, its second half-year since listing, as it makes progress on its development projects.
The company said its net asset value per share is up by 12% since it listed on the stock exchange in May 2014, up to 259 pence from 231p. Its overall net asset value since listing has increased by 15% to GBP371.1 million from GBP323.8 million.
The group said the acquisition of Catesby Property Group in February this year is already paying off, adding an additional site for the group in Nottinghamshire and boosting both its near-term profitability and pipeline. Urban&Civic now holds interests in 25,000 residential plots in the UK and said housebuilder construction is set to start on all three of its consented sites in 2016.
The company said it will pay an interim dividend of 1 pence per share. Including the 1.5 pence dividend it paid in February, its total payout since listing is now 2.5 pence.
Shares in Urban&Civic were down 1.6% to 252.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
UANC.L