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Helical Says Remains Confident In Long-term Outlook

Helical Plc. (HLCL.L) believes it is well positioned and remains confident in the long-term outlook for the business, as a result of measures taken by the group in recent years and the underlying strength of the markets.

The company noted that it continues to closely monitor its forecast cash flow requirements. Once Annual Results to 31 March 2020 are available, it will consider whether a final dividend for the year to 31 March 2020 is appropriate, and if so, at what level.

The company expects its earnings for the year to be relatively unaffected by the uncertainty caused by the COVID-19 outbreak. However, it note that the RICS has issued guidance to valuers to include a Material Uncertainty clause in their independent valuations and it would expect sit to apply to year end investment property valuations.

In its trading update for the period 1 October 2019 to 31 March 2020, the company said it has completed 14 new lettings in London, totalling 107,220 sq ft, delivering contracted rent of 8.6 million pounds.

In the period, across both residential phases at Barts Square, London EC1, the company sold 12 units and completed on a further 22 units where contracts had previously exchanged. Legal completions of an additional 22 exchanged units are expected over the coming weeks.

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