Business
Interim Report for the Half Year Ended 30 June 12
Interim Report for the Half Year Ended 30 June 12.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \nRNS Number : 8557I Capital & Counties Properties Plc 31 July 2012 \n \n\n\n\n\n\n \n \n \n31 July 2012\n \n \n\n\n \n \n\n\n\n\n \nCAPITAL & COUNTIES PROPERTIES PLC (\"Capco\")\nINTERIM REPORT FOR THE HALF YEAR ENDED 30 JUNE 2012\nIan Hawksworth, Chief Executive of Capco, commented: \"This is another strong set of results from Capco as we work to unlock value from our prime central London assets. The creative regeneration of Covent Garden is driving growth, there is positive momentum at Earls Court and Seagrave Road, and our successful recycling of capital gives us a strong balance sheet and the ability to capitalise on future opportunities across our estates\". \nPerformance highlights\n- Good valuation performance across all three estates\n- 6.8% increase in EPRA adjusted, diluted NAV to 177 pence per share (Dec 2011 - 166 pence)\n- 4.8% increase in total property value (on a like-for-like basis) to £1.6 billion (Dec 2011 - £1.6 billion)\n- Proposed 2012 interim dividend of 0.5 pence per share (2011 interim - 0.5 pence)\n- 7.4% total return in the period\nStrong performance at Covent Garden as transformation continues\n- 4.5% increase in valuation (on a like-for-like basis) to £856 million (Dec 2011 - £808 million) driven by retail, F&B and residential repositioning\n- New lettings at 9.4% above December ERV\n- 34 leasing transactions year to date with net rental income of £4.7 million\n- 9 new retailers and restaurant have taken space in the first 6 months of the year, including Jo Malone, Melissa Shoes, Jamie's Union Jacks and Brasserie Blanc\n- ERV currently £47.1 million (Dec 2011 - £45.8 million); on track to deliver £50 million target in 2013\nFurther progress at Earls Court and Olympia\n- 4.6% increase in valuation (on a like-for-like basis) to £620 million (Dec 2011 - £574 million) driven by Earls C...