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St. Modwen Properties H1 Pretax Profit Rises - Quick Facts

St. Modwen Properties plc (SMP.L) said its first-half financial performance showed the first signs of the improvement in returns and earnings, and the Group's expectations for the full year remain unchanged. Despite recognising an 18.0% write-down on small amount of residual non-core retail, NAV per share increased 1.3% to 476.4 pence and EPRA NAV per share increased 1.8% to 492.5 pence.

For the half year ended 31 May 2019, pretax profit improved to 28.1 million pounds from 25.9 million pounds, previous year. Basic earnings per share was 10.5 pence compared to 9.4 pence. Adjusted EPRA EPS was up 15.9% to 7.3 pence.

First-half revenue declined to 173.2 million pounds from 213.7 million pounds, a year ago.

The Group will pay an interim dividend of 3.6 pence per share, to be paid on 4 September 2019 to shareholders on the register as at 9 August 2019, marking an increase of 16.1% from last year.

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