Half Year Results Announced By Urban&Civic

Our parent company Urban&Civic plc (LSE: UANC) announces its unaudited results for the six months to 31 March 2019.

Financial Highlights

EPRA net asset value up 3.3 per cent at £497.3 million (30 September 2018: £481.2 million).

  • EPRA net assets 340.6p per share: up 2.7 per cent from 30 September 2018 and 7.8 per cent, year on year.
  • Profit before tax for the six months to 31 March 2019 £5.1 million (£10.1 million to 31 March 2018),
  • 365 residential plots completions at four strategic land sites in delivery (against annual target of 635 plots). Further 335 sales expected at Europa Way in the second half, taking full year target to 970 plots.
  • Large site discount represented a further £203 million at 31 March 2019, equivalent to 139.0p per share (30 September 2018: 145.0p per share).
  • 31 March 2019 EPRA NAV + large site discount = 479.6p per share (30 September 2018: 476.8p per share)
  • Total shareholder return down 8.5 per cent on a share price of 276p (close of business 28th May 2019; 326p).
  • Interim dividend 1.4p per share, up 7.7 per cent year on year to recognise maintaining progress.

Read the full statement here