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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:
547.00p
Change Today:
0.000p
Market Cap:
1,217.77m
Sector:
Real Estate Investment & Services

St Modwen H1 earnings 'unsurprisingly' hit by Covid-19

By Iain Gilbert

Date: Wednesday 24 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Property investment and development group St Modwen Properties warned on Wednesday that it was on track to record a substantial fall in first-half earnings, "unsurprisingly" due to impacts stemming from the Covid-19 pandemic.
St Modwen expects adjusted EPRA earnings for the six months ending 30 June to tumble from 16.2m to roughly 4m-5m as the coronavirus outbreak led to a reduction in housebuilding profits and retail rents in the first half of 2020.

The FTSE 250-listed firm also anticipates a decline in the valuation of its residual retail assets and surplus residential land.

Despite taking a hit as a result of the pandemic, St Modwen said it has now been able to restart activity on its sites safely and strengthen its liquidity and financial position, but cautioned that a delay in production meant that completed unit sales for the half were down 32% year-on-year at 32%.

St Modwen also warned the current economic disruption would inevitably have an impact on its financial results in the short-term as the pandemic continues to cause "significant social and economic challenges".

Interim chief executive Rob Hudson said: "Whilst near-term visibility remains low, recent trading has been ahead of our expectations and the long term structural growth drivers in our two key markets, residential and industrial/logistics, remain positive, so our strong financial base leaves us well positioned for the future."

As of 0825 BST, St Modwen shares were up 1.35% at 357.76p.

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 547.00p
Change Today 0.000p
52 Week High 550.00p
52 Week Low 300.00p
Volume 652,044
Shares Issued 222.63m
Market Cap 1,217.77m

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
11:10 2,000 @ 547.00p
11:10 659 @ 547.00p
11:10 480 @ 547.00p
11:10 300 @ 547.00p
11:10 81 @ 547.00p

SMP Key Personnel

CEO Sarwjit Sambhi