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- Capital & Regional resilient in face of challenging retail environment
Capital & Regional resilient in face of challenging retail environment – Capital & Regional has announced its full year results to 30 December 2017. Highlights include:
Group Cost of debt of 3.25% with average debt maturity of 7.3 years
Lawrence Hutchings, chief executive, said: “This is another strong set of results that provides me with further confidence in our decision to focus on serving the non-discretionary, value and “needs” based end of consumer demand through our portfolio of community shopping centres. I believe that C&R through our platform, quality portfolio, energy, insight and experience, can redefine and be recognised as the specialist owner/manager, driving strong returns in this high yielding sector. We have confidence that our repositioning programme and rebased affordable occupancy costs allow our retailer customers to trade profitably in these high footfall locations that have proven to be the engine room for their profits.
The Board has announced a 7.4% increase in total dividend for 2017 and, while fully aware that recent occupier failures present some challenges to short term results, believes that both the momentum we have carried through into 2018 and our strategic asset management masterplans, underpin our objective of delivering annual dividend growth in a range of 5% and 8% over the medium-term.”
CAL : Capital & Regional resilient in face of challenging retail environment
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