Business
RESULTS FOR YEAR ENDED 31 DECEMBER 2019
RESULTS FOR YEAR ENDED 31 DECEMBER 2019.
About this update from Harworth Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 3590G\n Harworth Group PLC\n 17 March 2020\n \n \n \n \n \n \n \n 17 March 2020: 7am\n \n \n LEI 213800R8JSSGK2KPFG21\n \n \n \n \n \n HARWORTH GROUP PLC\n \n \n UNAUDITED PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019\n \n \n \n \n \n SOLID PERFORMANCE, COMPELLING STRATEGY AND STRONG MARKET FUNDAMENTALS PROVIDES BASIS FOR SUSTAINED LONG-TERM GROWTH\n \n \n \n \n Harworth Group plc (\"Harworth\" or the \"Group\"), a leading regenerator of land and property for development and investment, announces its preliminary results for the year ended 31 December 2019.\n \n \n \n \n \n Key Non-Statutory Measures (1)\n \n \n 2019\n \n \n 2018\n \n \n Key Statutory Measures\n \n \n 2019\n \n \n 2018\n \n \n \n \n Total return (%)\n \n \n 7.8\n \n \n 13.3\n \n \n Operating profit (£'m)\n \n \n 24.3\n \n \n 33.0\n \n \n \n \n EPRA NNNAV per share growth (%)\n \n \n 7.2\n \n \n 12.6\n \n \n Net asset value (£'m)\n \n \n 463.8\n \n \n 441.9\n \n \n \n \n Value gains (£'m)\n \n \n 44.0\n \n \n 51.3\n \n \n Basic earnings per share (p)\n \n \n 7.9\n \n \n 10.6\n \n \n \n \n Profit excluding value gains (£'m)\n \n \n 3.5\n \n \n 9.8\n \n \n Total dividend per share (p)\n \n \n 1.0\n \n \n 0.9\n \n \n \n \n Net loan to portfolio value (%)\n \n \n 12.1\n \n \n 12.3\n \n \n Net debt (£'m)\n \n \n 70.9\n \n \n 64.4\n \n \n \n \n \n Harworth's Chief Executive, Owen Michaelson, said:\n \n \"We have delivered a total return of 7.8% in 2019, demonstrating the ability of our team to create value growth from the active asset management of our underlying land and property portfolio alongside profits from rental income and sales. This includes the results from the regeneration of sites through the sale of engineered land to housebuilders and commercial occupiers, and the continued expansion and resilience of our income portfolio. \n \n \n \n \"Five years on from Harworth's listing on the Main Market, the Group has continued to apply its role as master developer successfully on a range of complex sites across the Midlands and North to create places where people want to live and work. It has remained true to the underlying principles of sustainable development whilst also delivering strong long-term financial returns.\n \n \n \n \n \n \"Our move to a regional operating...