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Prices & Quotes - UK Markets - St. Modwen Properties (SMP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 546.00p
Change Today:
-1.00p
Market Cap:
1,215.54m
Sector:
Real Estate Investment & Services

St Modwen delivers 'continued progress'

By Iain Gilbert

Date: Thursday 05 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Property investment and development group St Modwen delivered continued progress in its recently wrapped up trading year thanks to its refocused growth strategy.
St Modwen said on Thursday that while the external environment remained "uncertain" and prospects for parts of the UK property market continued to be challenging, the outlook for its two key sectors, industrial/logistics and regional housebuilding, were still underpinned by structural growth characteristics.

The FTSE 250-listed firm stated this was reflected in continued strong growth in its St Modwen Homes and Industrial & Logistics business units during 2019, whilst its Strategic Land & Regeneration business also made "good progress" in monetising the value of its residential land bank and residual non-core assets, while also progressing the longer-term opportunities in its pipeline.

As a result, St Modwen said that the underlying performance of the business was in line with expectations. However, it did warn that it expects to recognise an exceptional provision for a potential claim related to a historical development project - expected to reduce the group's net asset value for 2019 by around 8.0p per share.

Chief executive Mark Allan 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.

"We have made strong progress on this during the year in each of our three business units and, supported by our solid capital base, we are confident that the continued delivery on this strategy will drive a meaningful improvement in return on capital and earnings over time."

As of 0840 GMT, St Modwen shares were up 1.56% at 455.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SMP Market Data

Currency UK Pounds
Price 546.00p
Change Today -1.00p
52 Week High 550.00p
52 Week Low 300.00p
Volume 404,452
Shares Issued 222.63m
Market Cap 1,215.54m

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SMP Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Mar-21 06-Aug-20
Paid 08-Apr-21 02-Sep-20
Amount 3.90p 1.10p

Trades for 15-Jun-2021

Time Volume / Share Price
10:09 551 @ 545.22p
09:38 25,000 @ 546.50p
09:38 25,000 @ 546.50p
09:38 25,000 @ 546.50p
09:38 25,000 @ 546.50p

SMP Key Personnel

CEO Sarwjit Sambhi