Business
Full Year Results for year ended 31 Dec 2024
Full Year Results for year ended 31 Dec 2024.
About this update from Harworth Group Plc
[{"type":"text","content":"\n\nHARWORTH GROUP PLC\n('Harworth' or the 'Group' or the 'Company')\nFull Year Results for the year ended 31 December 2024\nOperational outperformance, strong returns and continued EPRA NDV growth\n \nHarworth Group plc, a leading land and property regenerator of sustainable developments, today announces its results for the year ended 31 December 2024.\n \n\n\n\n\nSummary highlights(1)\n\n\n2024\n\n\n2023\n\n\n% change\n\n\n\n\n\n2024\n\n\n2023\n\n\n% change\n\n\n\n\nTotal accounting return (%)\n\n\n9.1\n\n\n5.1\n\n\n+4.0*\n\n\nValue gains (£m)\n\n\n97.2\n\n\n58.1\n\n\n+67.3\n\n\n\n\nEPRA NDV per share (p)(2)\n\n\n222.3\n\n\n205.1\n\n\n+8.4\n\n\nTotal Property sales (£m)(3)\n\n\n215.8\n\n\n125.9\n\n\n+71.4\n\n\n\n\nEPRA NDV (£m) (2)\n\n\n719.5\n\n\n662.9\n\n\n+8.5\n\n\nResidential plots sales\n\n\n2,385\n\n\n1,170\n\n\n+103.9\n\n\n\n\nNet loan to portfolio value (%)\n\n\n5.4\n\n\n4.7\n\n\n+0.7*\n\n\nInv. Portfolio value (£m)(4)\n\n\n297.2\n\n\n221.4\n\n\n+34.2\n\n\n\n\nLiquidity (£m)\n\n\n192.4\n\n\n192.2\n\n\n+0.2\n\n\nInv. Portfolio Grade A(5) (%)\n\n\n45\n\n\n37\n\n\n+8.0*\n\n\n\n\n \n\n\n\n\nFinancial highlights(6)\n\n\n2024\n\n\n2023\n\n\n% change\n\n\n\n\n\n2024\n\n\n2023\n\n\n% change\n\n\n\n\nTotal dividend per share (p)(7)\n\n\n1.614\n\n\n1.466\n\n\n+10\n\n\nOperating profit (£m)\n\n\n74.6\n\n\n54.2\n\n\n+37.6\n\n\n\n\nNet debt (£m)\n\n\n46.7\n\n\n36.4\n\n\n+28.3\n\n\nPortfolio value (£m)(8)\n\n\n821.6\n\n\n734.7\n\n\n+11.8\n\n\n\n\nNet assets per share (p)\n\n\n213.7\n\n\n197.3\n\n\n+8.3\n\n\nNet asset value (£m)\n\n\n691.7\n\n\n637.7\n\n\n+8.5\n\n\n\n\n \nLynda Shillaw, Chief Executive of Harworth, commented: \"Harworth delivered record revenue and land sales in 2024, generating significant value gains, with EPRA NDV up 8.5% year on year. Our strong total accounting return of 9.1% is yet again among the best in the sector and the result of management actions, consistent with our focus on driving value as we continue to progress our sites through development. This included two landmark land sales, to Microsoft for a hyperscale data centre and Frasers Group for their global headquarters, alongside record residential plot sales. Our performance continues to demonstrate the resilience of our through-the-cycle business model and highlights our ability to capitalise on emerging s...