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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 548.00p
Change Today:
-2.00p
Market Cap:
1,220.00m
Sector:
Real Estate Investment & Services

St Modwen upbeat as 2019 asset values rise

By Sean Farrell

Date: Tuesday 04 Feb 2020

LONDON (ShareCast) - (Sharecast News) - St Modwen Properties was upbeat about its prospects after the commercial property company posted an increase in asset values for 2019.
Net asset value per share rose 3% to 484.2p in the year to the end of November despite a 7.8p exceptional provision for a legacy project.

Underlying pretax profit rose to 81.4m from 72.4m a year earlier. Including a 22.5m exceptional provision profit fell to 58.9m.

St Modwen increased its annual dividend by 22.5% to 8.7p a share. The FTSE 250 company's shares rose 3.3% to 505p at 0916 GMT.

The results are St Modwen's last under the leadership of chief executive Mark Allan, who is joining Land Securities as CEO on 1 May. Allan said the company grew strongly and was on track to achieve a significant improvement in return on capital.

Since taking over three years ago Allan has sold more than 800m of retail assets to reduce debt and shift the company's business towards warehouses, serving online merchants, and housebuilding.

Allan said the Conservatives' victory at the December general election had reduced short-term political uncertainty but doubts about the economic outlook and the UK's trading position remained.

"We remain mindful of the uncertainty this could cause in the near term and the potential effects in the long term," Allan said. "While we will therefore maintain a conservative level of borrowings and we have the flexibility to adjust our activity quickly in case of any unexpected changes in demand due to the short-cycle nature of our developments, the positive structural growth characteristics in our key sectors provide us with confidence to continue to invest."

Rob Hudson, St Modwen's chief financial officer, will be interim CEO until a new boss is appointed.



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SMP Market Data

Currency UK Pounds
Price 548.00p
Change Today -2.00p
52 Week High 552.50p
52 Week Low 300.00p
Volume 124,360
Shares Issued 222.63m
Market Cap 1,220.00m

Performance Indicators

Compare performance with the sector and the market.

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Price Trend
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Income
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Growth
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P/E
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 0
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 4
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 22-Jun-2021

Time Volume / Share Price
15:49 708 @ 548.00p
15:46 1,068 @ 548.06p
15:44 687 @ 548.00p
15:41 350 @ 549.00p
15:41 196 @ 549.00p

SMP Key Personnel

CEO Sarwjit Sambhi