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Sorry.0.84 cents
Good results again. some response in the Share Price ! i keep many more of these than in PDSL. Final dividend 10th July 0.84 cents.
Lot of buys yet little share price improvement. Is this just a side show once again for the back room boys to short and scoop up profit on the backs of what what gullible small investors invest?
Property investment in prime areas of Germany. It's on AIM. Dividend paying company. Worth holding so a buy if you are without these.
Too good to be true? Hope not :-)
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very strange trades at 0.26?..before the close......
last minute buys...... 10mill........
Sirius Real Estate – I’m Out http://wexboy.wordpress.com/2013/09/18/sirius-real-estate-im-out/
you got me there,i guess welle see shortly how the markets rect to them?....
am a little confused when i see the trades and the value of them? How can 750k trades at 0.22 be £176k???
Someone just bought 10% of the company. Options taken maybe?or a placement tba?
not mine tiger,they just flashed past the cnbc ticker,never heard of these before then,i thought it was an oily...
You been down back of sofa again?
vols....
look at them trades.....
High debt is the issue here. A bit like my issues... lol. Not going well for me atm. May call it a day soon.
Yup - saw it. Posted on SPE. I aint getting involved in more "exceeds expectation" companies. Only "below expectations" ones as they are the ones that rise! lmao.
A brief reminder of the multiple attractions of SRE, plus a detailed review of German residential property companies: http://wexboy.wordpress.com/2012/11/02/german-residential-property-iv/
A major sale can be another catalyst: http://wexboy.wordpress.com/2012/06/18/how-about-another-catalyst-part-viii/ Let's illustrate with a look at some (current/historical) examples, including Sirius Real Estate: http://wexboy.wordpress.com/2012/06/29/how-about-another-catalyst-part-ix/
German business park operator Sirius Real Estate came in slightly ahead of estimates after boosting rents on its properties and keeping tenants for longer. Total income for the year was flat at €45.7m with adjusted earnings before tax coming in at €2.9m. Occupancy increased to 78% from 76% the year before, while average rates increased to €4.21 per square metre from €4.13. However, the poor economic environment hit its portfolio, which was revalued at €485.7m, compared to €505.5m the previous year. Sirius said this was down to the valuer DTZ taking a more negative stance towards the German economy. "Whilst GDP figures in the first quarter of 2012 have shown steady growth in the Germany economy, the wider difficulties in the Eurozone make economic forecasting difficult" the firm said. "Our experiences indicate that the German SME market remains resilient with demand for flexible work space reasonably constant.
Prospects and outlook Whilst GDP figures in the first quarter of 2012 have shown steady growth in the Germany economy, the wider difficulties in the Eurozone make economic forecasting difficult. Our experiences indicate that the German SME market remains resilient with demand for flexible work space reasonably constant. There is no doubt that the business is better positioned following the internalisation of the asset manager and we now have a clear plan for taking the business forward. Occupancy is moving up and we are confident of maintaining this trend. The Group's cost base is now securely under control and we are successfully selling individual sites and land parcels to strengthen our financial position. Working capital management is a key priority for the management team as the current level of operating cash flow, although improving, is insufficient to meet contractual debt amortisation obligations and fund capital expenditure necessary to continue improving the value of the estate. The approaching maturity of the ABN debt facility is receiving appropriate attention from the management team and the Board remains confident that the plan in place to deal with the loan maturity will be implemented successfully. Trading since the period end is in line with management's expectations.
Germany-focused Sirius Real Estate (SRE) posted an adjusted pre-tax profit of 2.9 million euros for the year to March - up from a 1 million euro loss in the comparable period - thanks to a 3.8% increase in rent received to 45.3 million euros and a number of initiatives to reduce central costs. Despite the improved performance, mainly attributable to 2 percentage point rise in occupancy to 78%, Sirius was hurt by a substantial fall in the value of its property portfolio from 505.5 million euros to 485.7 million euros. Sirius shares closed unchanged at 0.225p.
Occupancy has increased to 78% in the year, up from 76% at the start of the financial year. As at March 31st, 2012, cash reserves were €9.1 million, down from €13m six months earlier. Borrowings, excluding capitalised loan costs, totalled €296m, down from €300.0m at the end of September, representing a loan to value percentage of 60.1% based on an independent portfolio performed at the end of September. Both banking facilities are operating within covenants and the group remains in discussions with the the Royal Bank of Scotland about its banking facility, which matures in October 2012. The group said its main focus at present is to be able to service its borrowings and cover future capital expenditure requirements from operational cash flow.
Property firm Sirius Real Estate traded in line with management's expectations in the financial year just ended. Rental income is expected to have increased to €45.2m from €43.6m (after excluding €1.9m of surrender premiums) the year before, driven primarily by higher average rate per square metre on new sales. In addition, the group expects to see further reductions in non-recovered service charge costs and overhead costs once all the numbers have been totted up, which should add around €1m to profits.