Business
CLS Holdings Half Year Report
CLS Holdings Half Year Report.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \nPRESS RELEASE\n \nRelease date: 7 August 2024\nEmbargoed until: 07:01\n \nCLS HOLDINGS PLC\n(\"CLS\", the \"Company\" or the \"Group\")\nANNOUNCES ITS HALF-YEARLY FINANCIAL REPORT\nFOR THE SIX MONTHS TO 30 JUNE 2024\n \nDelivering on our strategic priorities with positive letting progress and achievement of greater sales\n \nCLS is a leading office space specialist and a supportive, progressive and sustainably focused commercial landlord, with a c.£1.9 billion portfolio in the UK, Germany and France, offering geographical diversification with local presence and knowledge. For the half-year ended 30 June 2024, the Group has delivered the following results:\n \n\n\n\n\n\n\n\n30 June 2024\n\n\n31 December 2023\n\n\nChange (%)\n\n\n\n\nEPRA Net Tangible Assets (\"NTA\") per share (pence) 1\n\n\n227.4\n\n\n253.0\n\n\n(10.1)\n\n\n\n\nStatutory NAV per share (pence) 1\n\n\n210.6\n\n\n233.8\n\n\n(9.9)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nContracted rents (£'million)\n\n\n111.7\n\n\n112.6\n\n\n(0.8)\n\n\n\n\n \n\n\n\n\n\n\n\n30 June 2024\n\n\n30 June 2023\n\n\nChange (%)\n\n\n\n\nNet rental income\n\n\n58.9\n\n\n55.6\n\n\n5.9\n\n\n\n\n(Loss) after tax (£'million)\n\n\n(61.1)\n\n\n(104.1)\n\n\nNm2\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEPRA Earnings per share (\"EPS\") (pence) 1\n\n\n4.8\n\n\n5.2\n\n\n(7.7)\n\n\n\n\nStatutory EPS from continuing operations (pence) 1\n\n\n(15.4)\n\n\n(26.2)\n\n\nNm2\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDividend per share (pence)\n\n\n2.60\n\n\n2.60\n\n\n-\n\n\n\n\n1 A reconciliation of statutory to alternative performance measures is set out in Note 4 to the condensed Group financial statements\n2 Nm = Not meaningful\n \nFredrik Widlund, Chief Executive Officer of CLS, commented:\n\"In the first half of 2024, CLS made strong progress on its strategic priorities and delivered good underlying performance across the portfolio. Net rental income was up over 5% with new leases signed nearly 6% above ERV such that this positive leasing momentum resulted in a slight fall in underlying vacancy. Valuations were lower but the rate of decline slowed and we are seeing value...