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BRIEF-Workspace Group FY pretax profit falls
June 7, 2017 / 6:13 AM / 6 months ago

BRIEF-Workspace Group FY pretax profit falls

June 7 (Reuters) - Workspace Group Plc:

* FY ‍profit before tax of 88.8 mln stg, lower than 2016 due to a smaller uplift in property valuation​

* FY ‍EPRA net asset value per share of 9.53 stg, up 3.3 pct​

* ‍A 40 pct increase in total dividend to 21.07p reflecting strong financial results and confidence in outlook for business​

* FY underlying increase of 2.1 pct in property portfolio to 1,844 mln stg

* FY ‍increase in total rent roll of 14.5 pct to 89.5 mln stg from rental growth at like-for-like properties, strong letting performance

* FY loan to value at 13 pct with undrawn facilities (including cash) of £123m

* ‍“Despite uncertainty in market following eu referendum, we remain confident of our ability to deliver long-term value for shareholders” - CEO​

* “Continue to see healthy demand for our space and we have financial resources to take advantage of acquisition opportunities”

* “Have a strong pipeline of refurbishments and redevelopments expected to deliver more than 1 million sq. ft. Of new and upgraded space over next three years”

* ‍Final dividend of 14.27 pence (2016: 10.19 pence) will be paid on Aug.7 to shareholders on register at July 7 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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