In QuotedData’s morning briefing 21 November 2023:
- Gresham House Energy Storage (GRID) says that its 50MW West Didsbury project has been successfully energised, taking the portfolio’s operational capacity to 690MW. It is expected to be revenue generating in December. Installing two-hour batteries at West Didsbury in early 2024 will take the capacity of the site to 50MW/100MWh, increasing its earnings potential.
- Schroder REIT (SREI) reported a marginal net asset value (NAV) decline of 1.6% to 60.5p per share in the six months to 30 September 2023, with a rise in real estate yields offset by a high income return and estimated rental value (ERV) growth of 2.4%. The group’s property portfolio value was down 1.1% in the period. Dividends of 1.67p was 102% covered by EPRA earnings. Loan to value was 36.6%, with debt maturity of 10.2 years and an average interest cost of 3.5%, with 91% either fixed or hedged against movements in interest rates.
- Yuuichiro Nakajima has been appointed as a non-executive director of Montanaro UK Smaller Companies (MTU) with effect from 1 January 2024. Yuuichiro is founder and managing director of Crimson Phoenix, a specialist cross-border M&A advisory firm, providing advice on Japan-related transactions and a range of corporate strategy initiatives from offices in Tokyo, London and Frankfurt. He is a former member of the executive board of the British Chamber of Commerce in Japan and of the Council of the Japanese Chamber of Commerce and Industry in the UK. Yuuichiro spent 10 years with S.G. Warburg (later SBC Warburg) and four years with PricewaterhouseCoopers. He is chairman of Japan H.L. Limited, which operates Japan House London. For nine years until July 2023, Yuuichiro was a non-executive director of JPMorgan Japan Small Cap Growth & Income plc.