In QuotedData’s morning briefing 12 September 2024:
- Harmony Energy Income (HEIT) says its 99.8 MWh / 49.9 MW Hawthorn Pit project (located in County Durham) and its 66 MWh / 33 MW Wormald Green project (located in Yorkshire) have been successfully energised and are expected to be fully operational in the coming weeks. Its portfolio will then be 100% operational. Both projects utilise Envision Energy’s 2-hour duration, liquid-cooled energy storage systems, which are capable of providing energy trading, capacity services, and frequency regulation services.
- Developer Harworth Group (HWG) has posted a 3.5% increase in EPRA net disposal value (NDV) to £687.0m or 212.3p per share in the six months to 30 June 2024 (31 Dec 2023: £662.9m or 205.1p). The group said that it was on track to reach £1bn by the end of 2027, with its strategy to develop and retain industrial and logistics assets. Value gains totalled £47.0m, driven by sales, development of sites and planning permissions against the backdrop of relatively stable markets.
- Balanced Commercial Property Trust (BCPT), which is currently the subject of a take private offer, posted half-year results that saw NAV fall 4.3% to 105.1p at 30 June 2024 (31 December 2023: 109.8 pence). NAV total return (with dividends reinvested) was -1.9% over the period, while share price total return was +13.0% (due to the prospect of corporate activity).
- Schroder European REIT (SERE) reported a stabilisation in property values over the quarter to 30 June 2024. Its portfolio was valued at €208.3m, a marginal 0.1% increase. Its NAV was down 0.8% to 122.6 euro cents per share, with the valuation uplift offset by capex and deferred tax. Total interim dividends declared relating to the nine months of the current financial year were 4.44 euro cents, 106% covered by EPRA earnings.
- NewRiver REIT (NRR) has been given an extra two weeks to firm up an offer for Capital & Regional (CAL). The original deadline had been due to expire today, but the company now has until 26 September to make its intentions clear.
