Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT