Corporate News
FONT-SIZE Plus   Neg
Share SHARE

Derwent London EPRA EPS Down In 2012 - Quick Facts

Derwent London Plc (DLN.L) reported a marginal increase in full-year EPRA pre-tax profit to 52.5 million pounds, from 52.3 million pounds in 2011, despite increase in development activity. Annual pre-tax profit, however, declined to 228.1 million pounds, from 233 million pounds.

On a per share basis, 2012 earnings were 211.82 pence this year, down from last year's 217.67 pence, with EPRA earnings per share edging down to 50.12 pence, from 51.25 pence a year before.

Gross property and other income was 150.6 million pounds for the year 2012.

Commenting on the outlook, the company said: "Our office brand appeals to a wide range of tenants from both a design and a price perspective, in particular those from the broad-based TMT world. The increase in rents in our markets in 2012 exceeded our expectations. We believe we shall see rental growth in these markets of 4-6% in 2013 with yields remaining stable."

In 2013, Derwent London aims to complete 212,000 sq ft at Buckley Building EC1 and 1 Page Street SW1 which are 70% pre-let overall, and progress construction of 256,000 sq ft at 1-2 Stephen Street W1, 40 Chancery Lane WC2 and Turnmill EC1.

Register
To receive FREE breaking news email alerts for Derwent London plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus