Highcroft Investments PLC Interim Management Statement (3889R)
2012年11月19日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMHCFT
RNS Number : 3889R
Highcroft Investments PLC
19 November 2012
Highcroft Investments PLC
Interim Management Statement in respect of the period 1 July
2012 to 16 November 2012
The board of Highcroft Investments PLC today approved the
following statement in respect of the current trading period which
will end on 31 December 2012.
Property Portfolio
Since the commencement of the second half we have made some
important changes to the property portfolio intended to enhance
yields, improve average unexpired lease terms and strengthen the
profile of tenant covenants.
The sale of Willow House in Victoria for a net cash
consideration of GBP4.90m was completed on 10 August 2012,
generating a surplus of around GBP1.50m on the valuation at 31
December 2011. The majority of the cash proceeds have now been
reinvested by way of two separate acquisitions of industrial lots
in the South East. On 22 August 2012 a unit in Bedford let to
Booker plc with an unexpired lease term of almost 15 years was
purchased for GBP1.86m net of costs at an initial yield of 8.1%. On
5 November 2012 a unit in Milton Keynes let to IKEA Limited with an
unexpired lease term of over 7 years was purchased for GBP2.70m net
of costs at an initial yield of 9.1%, rising to 9.9% in 2015 as a
result of a fixed rent increase.
Taken together these three transactions alone will raise gross
income from the property portfolio by around GBP167k over a full
year and along with the earlier purchases of industrial units in
Warwick and Andover and the Yeovil disposal represent a significant
shift in the balance of the portfolio away from the specific
challenges of the High Street towards the potentially more
predictable prospects in the industrial sector.
We are also encouraged by the re-gearing of two retail leases in
High Street, Oxford which together will increase the gross income
from these lots by GBP72k per annum. Additionally, during the
period the company commenced a planned programme of refurbishment
works to certain residential properties, the first of which will
involve the expenditure of approximately GBP30k.
Equity Portfolio and Financial position
Our equity portfolio was valued at GBP5.6m at 15 November 2012
having marginally outperformed the relevant benchmarks of the FTSE
100 and the All-Share Indices this year. Our financial position is
sound with cash balances of GBP2.6m at 15 November 2012.
Outlook
Although the continuing uncertain economic times are reason to
be cautious, we have the capacity to invest if suitable
opportunities arise, so as to further enhance the spread, size and
quality of our property portfolio in the longer term.
For further information, contact:
Highcroft Investments PLC
John Hewitt / Roberta Miles 01865 840023
Charles Stanley Securities
Dugald J. Carlean / Karri Vuori 0207 149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSBIBDBLBBBGDL
Highcroft Investments (LSE:HCFT)
過去 株価チャート
から 6 2024 まで 7 2024
Highcroft Investments (LSE:HCFT)
過去 株価チャート
から 7 2023 まで 7 2024