Business
Annual Results for the Year to 31 March 2026
Helical PLC reported an IFRS profit of £5.7 million for the year ended 31 March 2026, a decrease from £27.9 million in the prior year, with basic earnings per share at 4.6p compared to 22.8p. The company's see-through total property return was £23.0 million, down from £52.1 million, driven by a decrease in net rental income to £15.4 million and a lower net gain on sale and revaluation of investment properties to £2.7 million, though development profits increased to £4.9 million. Helical proposed a final dividend of 1.00p per share, bringing the total for the year to 2.50p, and announced a further £17 million return to shareholders via a B Share Scheme and share buyback, funded by the £333 million sale of 100 New Bridge Street. Disclaimer*
About this update from Helical Plc
[{"type":"text","content":"\n\n\n \nHELICAL PLC\n(\"Helical\" or the \"Group\" or the \"Company\")\nAnnual Results for the Year to 31 March 2026\n \n\n \nBuilding for Success\n \nMatthew Bonning-Snook, Chief Executive, commented:\n \n\"It has been an extremely active and productive year; highlights included significant lettings at The Bower, EC1 and progress across our substantial office development portfolio, with over 700,000 sq ft having been in build. This includes two office schemes, totalling 270,000 sq ft, that will be delivered in the next eight months into a market where new build vacancy is close to 1%, which provides the opportunity to capture significant value upside as they are let.\n \n\"In addition, we have acquired, financed and started on site at our new office scheme Delta Paddington, W2 and forward funded our student development at Southwark, SE1, whilst simultaneously forward selling the affordable housing element.\n \n\"Earlier this week we completed our forward sale of 100 New Bridge Street, EC4, with the proceeds being used to de-leverage as well as enable a meaningful return of capital to Shareholders, and invest into our future pipeline. This includes a new Places for London (\"PfL\") joint venture office opportunity at 63 Charterhouse Street, EC1M, where we successfully obtained planning permission last month, with a number of additional, attractive opportunities under active consideration.\"\n \nOperational Activity During the Year\n \nDevelopment Activity\n \n· 100 New Bridge Street, EC4 - Having achieved practical completion of the 195,000 sq ft best‑in‑class office redevelopment, the post-period sale to State Street Corporation for £333m (Helical share: £166.5m) completed on 20 May 2026. The full refurbishment of this highly sustainable HQ building was delivered in 24 months and in line with the joint venture's budget.\n \n· Brettenham House, WC2 - Works are at an advanced stage on the comprehensive redevelopment of this c.128,000 sq ft 1930s building, with completion due in August 2026. During the year, two floors have reached sectional completion and the external scaffolding has now been dismantled, unlocking sweeping views of the River Thames from the newly created terraces. We are pleased to have been awarded a 5* NABERS Design for Performance rating, ver...