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2022 Full Year Results
Our 2022 full year results are announced on Thursday 2nd March 2023.
Walthamstow Asset Tour
2022 Half Year Results
2021 Full Year Results
Click below for details of our 2021 Full Year Results.
Open Offer
For information related to the Open Offer of shares, please click the link below:
Mall Debt Restructure and Equity Raise – Investor Presentation
Partial Offer
For information related to the Growthpoint partial offer, please click the link below:
Financial highlights
| 6 months to June 2022 |
6 months to June 2021 |
Year to Dec 2021 |
|
|---|---|---|---|
| Revenue | £28.4m | £27.4m | £56.2m |
| Net Rental Income – Investment Assets | £12.2m | £9.9m | £21.5m |
| Adjusted Profit 1, 2 | £5.8m | £3.1m | £8.1m |
| Adjusted Earnings per share 1, 2 | 3.5p | 2.8p | 6.8p |
| IFRS Profit/(Loss) for the period | £26.8m | £(41.3)m | £(26.4)m |
| Basic earnings/(loss) per share | 16.2p | (36.9)p | (22.0)p |
| Total dividend per share 5 | 2.5p | - | - |
| Net Asset Value | £195.3m | £126.7m | £168.4m |
| Net Asset Value (NAV) per share | 118p | 113p | 102p |
| EPRA NTA per share | 116p | 117p | 102p |
| Group net debt 4 | £136.5m | £348.0m | £185.3m |
| Net debt to property value 4 | 40% | 72% | 49% |
Notes
1 Adjusted Profit, Adjusted Earnings per share, Net Rental Income, Net Debt and the new Snozone EBITDA metric are as defined in the Glossary. Adjusted Profit incorporates profits from operating activities and excludes revaluation of properties and financial instruments, gains or losses on disposal, and other non-operational items. A reconciliation to the equivalent EPRA and statutory measures is provided in Note 6 to the condensed financial statements.
2 2021 Revenue has been restated to remove Luton given its reclassification as a Discontinued Operation. Adjusted Profit for the six months to June 2021 has been restated to reflect the introduction of the Snozone EBITDA performance measure during 2021.
3 For lettings and renewals (excluding development deals and CVA variations) with a term of 5 years or longer which do not include turnover rent or service charge restrictions.
4 On a proforma basis, adjusted for the Walthamstow residential land and Blackburn disposal proceeds which were received post 30 June 2022. Net debt to property value was 49% at 30 June 2022 on an unadjusted basis.
5 Represents dividends declared post period end but related to the period in question.