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Great Portland reports strong operational performance – Great Portland Estates (GPOR) has released its results for the year to 31 March 2018.
The company reported a year of robust operational performance that has delivered good financial result. This includes including successes with assets that are leased to multiple types of tenents. It also includes profitable capital recycling into other areas
The company reported that its EPRA NAV per share rose by 5.8% in the year, whilst EPRA EPS grew by 17.9%. The ordinary dividends per share increased by 11.9% to 11.3p.
The NAV of the company was £2,367 million at 31 March 2018 and delivered diluted IFRS EPS of 18.2 pence.
“Whilst we expect, and are planning for, continued economic uncertainty, we look to our future with confidence: although we can expect a softening in market rents and some secondary asset yields, occupier demand remains healthy across our retail and office portfolio. With London’s investment markets remaining competitive, we have no need to buy, preferring the relative returns on offer from investing in our portfolio. It is full of opportunity, including 1.7 million sq ft of development potential, 0.4 million sq ft of which is now on site. In addition, our low average rents provide us with plenty of reversion to capture and our talented team is ready to capitalise on our many opportunities for organic growth as we continue to broaden our offering to meet evolving occupier needs. Either way, after five years of net sales, we have the financial strength to exploit any market weakness where we unearth it.”
GPOR : Great Portland reports strong operational performance
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