11 June 2018 – final results
The commercial property group that focuses on areas outside London has announced its results for the year ending 31 March and these have revealed that net asset value per share at the year end was 415p, a decline from the 443p reported at 31 March 2017. The decline in value was due to the dilution caused by the issue of additional equity in the year. Adjusting the 2017 figures for the fund raise would give net asset value per share of 389p so that on an adjusted basis net asset value per share actually increased. The total dividend for the year was raised to 19p and so the dividend yield is 5.4% – with further progress likely the shares look ATTRACTIVE.