Business
Final Results
Final Results.
About this update from Harworth Group Plc
[{"type":"text","content":"\n \nRNS Number : 7613G Harworth Group PLC 06 March 2018 \n\nHARWORTH GROUP PLC\nUNAUDITED PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2017\n \nSTRONG DEVELOPMENT AND INVESTMENT ACTIVITY DRIVES DOUBLE DIGIT GROWTH\n \nHarworth Group plc (\"Harworth\" or the \"Group\"), the brownfield land and property developer & investor, announces its preliminary results for the year ended 31 December 2017.\n \n\n\n\n\n \n\n\n31 December 2017\n\n\n31 December\n2016\n\n\nChange (%)\n\n\n\n\nNet Asset Value (\"NAV\") per share (p) (1)\n\n\n127.4\n\n\n114.6\n\n\n11.2\n\n\n\n\nEPRA NNNAV per share (p) (1)\n\n\n128.9\n\n\n114.6\n\n\n12.5\n\n\n\n\nEPRA NAV per share (p) (1)\n\n\n131.0\n\n\n119.8\n\n\n9.3\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperating profit before exceptional items (£'m)\n\n\n39.7\n\n\n45.2\n\n\n(12.0)\n\n\n\n\nOperating profit before exceptional items plus joint ventures (£'m)\n\n\n43.8\n\n\n45.8\n\n\n(4.4)\n\n\n\n\nValue gains (£'m) (2)\n\n\n41.6\n\n\n43.7\n\n\n(4.8)\n\n\n\n\nValue gains (including development properties) (£'m) (3)\n\n\n47.4\n\n\n43.7\n\n\n8.6\n\n\n\n\nProfit excluding value gains (£'m) (4)\n\n\n2.2\n\n\n2.2\n\n\n1.2\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nEarnings per share (p)\n\n\n15.8\n\n\n13.7 (5)\n\n\n15.4\n\n\n\n\nDividend per share (p)\n\n\n0.828\n\n\n0.753\n\n\n10.0\n\n\n\n\n \nHarworth's Chief Executive, Owen Michaelson, said:\n\"These are another strong set of results where we have again delivered double digit EPRA NNNAV growth, reflecting our continued ability to maximise the value of our portfolio whilst simultaneously growing our strategic landbank and income base through acquisitions and new lettings.\n \n\"Our focus, on the \"beds and sheds\" sectors in the North of England and the Midlands, is firmly underpinned by strong economic and consumer trends in the regions, and reinforced by supportive Government policy. This favourable backdrop coupled with active management has been reflected in 2017's planning successes and the sales and lettings achieved at our major developments such as Waverley and Logistics North. \n \n\"Whilst our existing sites continue to perform well and have plenty of future potential, we are also pleased with the progress of the five new acquisitions to our strategic landbank, whi...