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Prices & Quotes - UK Markets - SEGRO (SGRO)

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Share Price:
Up 993.60p
Change Today:
0.60p
Market Cap:
11,912m
Sector:
Real Estate Investment Trusts

E-commerce surge boosts Segro annual profits

By Frank Prenesti

Date: Friday 19 Feb 2021

LONDON (ShareCast) - (Sharecast News) - A surge in demand for warehouse space driven by e-commerce during the Covid-19 pandemic helped UK real estate investment trust Segro report a healthy rise in annual profits.
The company has benefited from the move to online shopping as consumers shift to alternative ways to buy goods during lockdowns which saw all but essential stores closed.

"The pandemic has reinforced the importance of efficient and resilient distribution networks to facilitate the provision of a wide variety of goods and services, leading to increased demand for warehouse space," said chief executive officer David Sleath.

Like-for-like net rental income grew 2.1%, while adjusted net asset value per share rose 16.3% to 814 pence.

Adjusted pre-tax profit for the year to December 31 rose 10.8% to 296.5m. A final dividend of 15.2 pence per share was declared, up from 14.4p a year earlier.

Segro said it expects total development capital expenditure for 2021, including on infrastructure, to exceed 700m.

Looking ahead, Segro said the "prevalent structural drivers, which have been accelerated by the pandemic, will continue to drive both occupier and investor demand" for its portfolio of properties "for the foreseeable future", but warned it was still wary of potential macroeconomic headwinds such as the pandemic and Brexit.

"Market rental growth has continued, driven by increased occupier demand and a shortage of modern warehouse space, particularly in our urban markets," the company added.

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SEGRO Market Data

Currency UK Pounds
Price 993.60p
Change Today 0.60p
52 Week High 1,018.50p
52 Week Low 789.40p
Volume 1,130,656
Shares Issued 1,198.82m
Market Cap 11,912m

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 2
Neutral 7
Sell 0
Strong Sell 1
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SEGRO Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Mar-21 13-Aug-20
Paid 04-May-21 24-Sep-20
Amount 15.20p 6.90p

Trades for 13-May-2021

Time Volume / Share Price
16:35 1,203 @ 993.60p
16:35 615,553 @ 993.60p
16:29 193 @ 990.00p
16:29 190 @ 990.40p
16:29 200 @ 990.40p

SEGRO Key Personnel

CEO David J R Sleath
COO Andy Gulliford
Chair Gerald Corbett
CFO Soumen Das