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Prices & Quotes - UK Markets - Capital & Counties Properties (CAPC)

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 171.70p
Change Today:
-1.70p
Market Cap:
1,461.37m
Sector:
Real Estate Investment Trusts

Capital & Counties property value falls amid Covid-19

By Iain Gilbert

Date: Tuesday 09 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Real estate investment trust Capital & Counties said on Tuesday that the total value of its properties had decreased in 2020 but stated it was "well-positioned" to benefit from recovery over time.
Capco said Covid-19 had widened annual pre-tax losses from 61.3m to 704.7m and dragged property values down 26% to 1.9bn, leaving it with a net asset value per share of 206.8p each at the end of 2020, down from 290.0p a year earlier.

Net rental income also sunk to 15.9m from 61.1m, with the FTSE 250-listed group stating that the Covid-19 pandemic had made a "material impact" on its overall financial performance.

Capco also failed to pay any dividends to investors, a marked difference when measured against the 1.5p per share returned to investors in 2019.

Looking forward, Capco cautioned that operating conditions would remain difficult for customers, which it anticipates will lead to enhanced levels of vacancy and further adjustments in valuation and rental levels.

However, Capco added that the upcoming easing of restrictions and the reopening of hospitality, retail and leisure activities would likely lead to "a gradual return of domestic footfall".

Chairman Henry Staunton said: "2020 was an extraordinary year with significant market uncertainty. Capco's support to its people, customers and broader Covent Garden community ensures the business is well-positioned to benefit from a recovery and prosper over time.

"We remain focused on responsible stewardship, disciplined capital management and are committed to delivering long-term value for shareholders from our unique portfolio of West End focused investments."

As of 1025 GMT, Capco shares were down 0.46% at 171.30p.

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

 

CAPC Market Data

Currency UK Pounds
Price 171.70p
Change Today -1.70p
52 Week High 191.70p
52 Week Low 99.00p
Volume 894,564
Shares Issued 851.12m
Market Cap 1,461.37m
Beta 0.05

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 3
Sell 1
Strong Sell 4
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CAPC Dividends

  Latest Previous
  Final Interim
Ex-Div 16-Apr-20 29-Aug-19
Paid 14-May-20 20-Sep-19
Amount 1.00p 0.50p

Trades for 13-May-2021

Time Volume / Share Price
16:35 287,327 @ 171.70p
16:29 1,348 @ 172.10p
16:29 1,142 @ 172.10p
16:29 1,000 @ 172.10p
16:29 199 @ 172.00p

CAPC Key Personnel

CEO Ian Hawksworth
Chair Henry Staunton
CFO Situl Jobanputra