Business
Full Year Results for year ended 31 December 2022
Full Year Results for year ended 31 December 2022.
About this update from Harworth Group Plc
[{"type":"text","content":"\n \n \n \n \n \n 14 March 2023\n \n \n \n \n \n \n \n \n Harworth Group plc\n \n \n Full Year Results for the 12 months ended 31 December 2022\n \n \n \n A year of operational and strategic progress despite a rapidly changing market backdrop in H2\n \n \n \n \n \n \n Harworth Group plc (\"Harworth\" or the \"Group\"), a leading regenerator of land and property for sustainable development and investment, today announces its results for the 12 months ended 31 December 2022.\n \n \n \n \n \n \n \n \n \n \n Key Non-Statutory Measures(1)\n \n \n \n \n \n \n 2022\n \n \n \n \n \n 2021\n \n \n \n \n \n Key Statutory Measures\n \n \n \n \n \n \n 2022\n \n \n \n \n \n 2021\n \n \n \n \n \n \n Total Return (%)\n \n \n \n \n \n 0.1\n \n \n \n \n \n 24.6\n \n \n \n \n Operating profit (£m)\n \n \n \n \n \n 44.5\n \n \n \n \n \n 121.9\n \n \n \n \n \n \n EPRA NDV per share (p)(2)\n \n \n \n \n \n 196.5\n \n \n \n \n \n 197.6\n \n \n \n \n Net asset value (£m)\n \n \n \n \n \n 602.7\n \n \n \n \n \n 578.0\n \n \n \n \n \n \n Value gains (£m)\n \n \n \n \n \n (2.0)\n \n \n \n \n \n 160.5\n \n \n \n \n Total dividend per share (p)(3)\n \n \n \n \n \n 1.3\n \n \n \n \n \n 1.2\n \n \n \n \n \n \n Net loan to portfolio value (%)\n \n \n \n \n \n 6.6\n \n \n \n \n \n 3.4\n \n \n \n \n Net debt (£m)\n \n \n \n \n \n 48.4\n \n \n \n \n \n 25.7\n \n \n \n \n \n \n \n \n \n \n Lynda Shillaw, Chief Executive of Harworth, commented:\n \n \"We continued to make significant operational progress during the year, delivering increased levels of direct development, accelerated land sales and targeted acquisitions in line with our strategy to become a £1bn business by 2027. We ended the year in a strong financial position, with a low LTV and significant available liquidity. Following a significant increase in valuations during the first half, we saw market-driven outward yield shifts across our Investment Portfolio and more mature industrial & logistics development sites during the second half. Over the course of the year, our management actions have largely offset market movements, and resulted in our valuations, and therefore EPRA NDV, remaining broadly flat year-on-year.\n \n \n \n \n \n \"\n At this early stage in the year we remain cautious about the economic backdrop for 2023.\n While there have been some rec...