logo
Plus   Neg
Share
Email

St. Modwen Properties H1 Pretax Profit Declines - Quick Facts

St. Modwen Properties plc (SMP.L) reported profit before tax of 25.9 million pounds for the six months ended 31 May 2018 compared to 31.6 million pounds, previous year. Earnings per share was 8.8 pence compared to 12.0 pence. Adjusted EPRA EPS for the half year was 6.3 pence compared to 5.9 pence.

First-half revenue increased to 211.9 million pounds from 151.4 million pounds, previous year.

The Group will pay an interim dividend of 3.10 pence per share for the first half of 2018, marking an increase of 53.5% compared to last year, to be paid on 4 September 2018 to shareholders on the register as at 10 August 2018.

Mark Allan, Chief Executive of St. Modwen, said: "We have had a good start to 2018. Our expectations for the full year remain unchanged and we are firmly focused on executing the new strategy we established a year ago. We have sold 635 million pounds of assets since then, improving our portfolio mix and allowing us to reduce borrowings, whilst accelerating the delivery of our substantial industrial/logistics and regional housebuilding pipeline. Despite ongoing uncertainty in the external environment, structural growth drivers in both sectors remain positive, so we anticipate delivering a meaningful improvement in earnings and return on capital in the medium term."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MGM Resorts International Inc. filed federal lawsuits against more than 1,000 victims of last October's deadly mass shooting in Las Vegas in an effort to avoid liability for the incident. MGM owns the Mandalay Bay Resort, from where the gunman Stephen Paddock had launched the attack. Paddock opened fire on a large crowd at an open-air country music concert, killing 58 people. Morgan Stanley (MS) reported 43 percent growth in profit for the second quarter, reflecting strong performance in Investment Banking and sales and trading. Quarterly net revenues rose 12 percent from the prior year. Both earnings per share and revenues topped analysts' expectations. Aerospace and defense giant Boeing announced its plans to use blockchain technologies along with artificial intelligence to track unmanned air vehicles in flight. The company has collaborated with artificial intelligence or AI technology company SparkCognition. They would deliver unmanned aircraft system traffic management or UTM solutions with a focus on safe integration of autonomous air vehicle
Follow RTT