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St. Modwen Properties: Underlying Performance In Line With Expectations

St. Modwen Properties plc (SMP.L) said, whilst the underlying performance of the business is in line with expectations, the company expects to recognise a provision for a potential claim related to a historical development project which is expected to reduce NAV for 2019 by around 8 pence per share.

Mark Allan, Chief Executive of St. Modwen, said: "Following the major repositioning of our business through the successful disposal of over 40% of our assets in the preceding 18 months, our focus in 2019 has been firmly on delivering the deep pipeline of opportunities in our existing portfolio."

The company intends to announce its results for the full year on 4 February 2020.

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