Redefine International has reported earnings per share up 5.2%, net asset value up 8.3% and a dividend up to 1.6p from 1.5p for the six month period ended 28 February 2015. Following the capital raising they have just completed the LTV ratio is 45.1% and they reckon they have cash of £72.5m available to invest.
The statement provides detailed information on the portfolio which we won’t reproduce here. They have a number of development projects in the pipeline including City Arcaden in Ingolstadt where they are developing a new store for Primark, Weston Favell in Northampton where they are reconfiguring a shopping mall, the addition of another 21 rooms to a Travelodge in Enfield and Byron Place in Seaham where they are negotiating on two new pre-let units.
RDI : Redefine NAV climbs 8%