PALACE CAPITAL PLC (PCA) — Palace Capital Half Year Results Presentation

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the PALACE CAPITAL PLC Half Year Results Investor Presentation. Throughout this presentation, investors will be in listen only mode. Questions are encouraged, can be submitted at any time. Just simply use the Q and A tab on the right hand corner of your screen, type in your question and press send. The company may not be in a position to answer every question received during today's meeting. However, the company will review all questions submitted today and publish responses where it's appropriate to do so. These will be available via your Investor Meet company dashboard, and we will send you an email when they're ready for your review. I'd also like to remind you that this presentation is being recorded. Before we begin, we'd like to submit the following poll. If you'd give that your kind attention, I'm sure the company would be most grateful. And I'd now like to hand over to Richard Starr, Executive Director Matthew Simpson, CFO and Neil Sinclair, CEO from PALACE CAPITAL. Good morning to you all. So good morning, everybody. Well, thank you for attending this webinar. Just to say that PALACE CAPITAL have had a very strong first six months. We successfully negotiated the pandemic. You've all got a copy of the presentation. Looking at the front, the highlights for us are positive sales at Hudson Court to York, our flagship development near York Station, and very strong rent collection, which has enabled us to increase the dividend. So we've actually sold 64 apartments. 62 are now completed. Two are completing tomorrow, making 64 altogether for a total of £21,000,000, with 800 offer to the value of £3,000,000. We also announced in the summer we were banking on a disposal program of noncore property in order to reinvest...