Figures announced for the six months ended 31 December 2013 disclose a fall in earnings per share for the period (from 11.4p to 10.4p) but an uplift in Mucklow’s EPRA NAV from 305p to 317p. Net debt rose slightly but not enough to shift the gearing ratio from its level of 41%. The vacancy rate […]
CatCo had a good year in 2013, generating NAV growth of 21.9%. They rewarded shareholders with a special distribution. Their market has become more competitive with rates falling markedly in some areas. The managers say the 2014 portfolio is 20% less risky than 2013’s and is set to generate a no-loss return of 18% with the […]
The return on NAV for Murray Income for the six months ended 31 December 2013 was 10.1%, a little behind the return on the FTSE All-Share Index of 11.3%. The manager says the reason for that was the fund’s overweight positions in pharmaceuticals and utilities
Harbourvest Global Private Equity is keen to move its listing to the main market. To achieve this it will have to grant full voting rights to its A shareholders. This is problematic at the moment as a majority of its shareholders are based in the US but their share of the register has been declining. […]
Hammerson has announced results for the period ended 31 December 2013 that show its EPRA NAV rising to £5.73 from £5.42, a gain of 5.7%. EPRA earnings per share rose by 10.5% to 23.1p, aided by a 2.1% growth in like for like rental income and occupancy of 97.7% and Hammerson announced an 8% increase […]
Sirius Real Estate has refinanced its BerlinHyp facility with a new five year €115m facility provided by BerlinHyp and Deutsche Pfandbriefbank AG. Sirius has also announced that it has sold two lots of land in Dusseldorf and Bremen for a total of €6.3m.
Better Capital has released its interim management statement and this has provided some colour to BCAP’s announcement on 4 February which cautioned that the NAV would fall on the 2009 cell. It is not immediately obvious which two companies are going to be written down however. The negatives highlighted in the IMS are: Gardner has […]
Riverstone Energy has published numbers for its financial period which is fairly short, covering the period from incorporation on 23 May 2013 to the end of December 2013. Most of this time it was a shell; RSE listed on 29 October 2013, raising $1.23bn. The NAV at the end of December was $16.04. So far […]
Over 2013 Scottish American Investment Trusts total return on its share price was 18% and, on the NAV, 17% ; lagging the return on the fund’s benchmark by 4%. They say the main reason for the company’s underperformance was its exposure to emerging markets investments. SCAM is increasing its dividend by 4.1% to 10.2p for the year. […]
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