You are here

Prices & Quotes - UK Markets - Workspace Group (WKP)

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:
Up 893.50p
Change Today:
18.50p
Market Cap:
1,618.25m
Sector:
Real Estate Investment Trusts

Workspace occupancy, enquiries decline in Q3

By Michele Maatouk

Date: Thursday 28 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Office space provider Workspace said on Thursday that occupancy and enquiries fell in the third quarter, although there were signs that things are beginning to improve.
In the three months to the end of December 2020, there was an average of 672 enquiries per month, down from 1,001 in the same period a year ago, and 109 lettings per month, versus 113 previously. Workspace said it had seen "resilient" customer demand despite Covid-19 restrictions.

Like-for-like occupancy was down 3.4% in the quarter to 82.1%, as customers that had given notice to leave earlier in the year did so.

Workspace said cash collection remains "robust", with 91% of rent due for the third quarter and 82% of rent due for the fourth quarter collected to date. Rent per square foot fell 5.3% to 38.46, with around half the decline driven by short-term lease incentives that will unwind over the next six months.

Workspace said that having seen an increase in enquiries and lettings to near pre-Covid levels in the second quarter, tighter restrictions and the usual quieter Christmas period meant there was a drop in new customer activity in the third quarter.

Chief executive officer Graham Clemett said: "Despite near-term uncertainty, we are seeing signs that customers are starting to look through the pandemic and we believe that our strategy, business model and differentiated customer offer position us to outperform over the medium and longer term.

"In terms of trading performance in the quarter, customer activity was impacted by government restrictions, but we were encouraged by the resilient demand for our space, which has continued into the fourth quarter. It appears that we are now coming towards the end of the significant occupancy declines we have seen over the last three quarters."

Clemett said the timing and pace of Workspace's recovery will depend on the rollout of Covid-19 vaccines and the lifting of government restrictions.





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

 

Workspace Group Market Data

Currency UK Pounds
Price 893.50p
Change Today 18.50p
52 Week High 903.00p
52 Week Low 482.40p
Volume 189,599
Shares Issued 181.11m
Market Cap 1,618.25m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
PEG
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 1
Strong Sell 2
Total 9
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Workspace Group Dividends

  Latest Previous
  Final Interim
Ex-Div 02-Jul-20 09-Jan-20
Paid 07-Aug-20 05-Feb-20
Amount 24.49p 11.67p

Trades for 07-May-2021

Time Volume / Share Price
17:07 1,000 @ 893.50p
16:35 90,586 @ 893.50p
16:29 14 @ 894.50p
16:29 1 @ 895.50p
16:29 13 @ 895.50p

Workspace Group Key Personnel

CEO Graham Clemett
CFO David Benson