The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHarworth Gp Share News (HWG)

Share Price Information for Harworth Gp (HWG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 136.50
Bid: 135.50
Ask: 138.50
Change: -2.50 (-1.80%)
Spread: 3.00 (2.214%)
Open: 136.50
High: 136.50
Low: 136.50
Prev. Close: 139.00
HWG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Harworth Confident Going Forward After Solid 2017 Performance

Tue, 06th Mar 2018 12:02

LONDON (Alliance News) - Brownfield land and property developer investor and developer Harworth Group PLC reported on Tuesday "another strong" set of results in 2017, with net asset value growing by double-digits.

Harworth's triple net asset value per share, its main metric, rose by 13% to 128.90 pence per share at the end of 2017 compared to 114.60p at the same date a year earlier.

Triple net asset value is net asset value adjusted to reflect the fair value of debt and derivatives, and to include deferred taxation on revaluations.

Value gains, including development properties, rose by 8.6% due to strong planning, lettings & sales progress, and uplifts from acquisitions made during 2017, Harworth said.

Profit excluding value gains was flat for 2017 at GBP2.2 million, while operating profit before exceptional items fell to GBP39.7 million from GBP45.2 million. However, including joint ventures and revaluation gains, the figure rose 8.1% to GBP49.6 million from GBP45.8 million.

Pretax profit for the year fell slightly to GBP41.8 million from GBP43.4 million.

The company increased its final dividend to 0.575p per share compared to 0.523p. The total for 2017 is thus 0.828p, a 10% rise year-on-year.

Looking ahead, Harworth said it is "well positioned" for the future, with the core markets of the north of England and the Midlands continuing to do well. Government policy remains supportive, Harworth added, with a strong backing for brownfield development.

The company said 2018 has begun "strongly", with over 50% of expected sales for the year already agreed.

Chief Executive Owen Michaelson said: "These are another strong set of results where we have again delivered double digit EPRA NNNAV growth, reflecting our continued ability to maximise the value of our portfolio whilst simultaneously growing our strategic land-bank and income base through acquisitions and new lettings.

"Our focus, on the 'beds and sheds' sectors in the North of England and the Midlands, is firmly underpinned by strong economic and consumer trends in the regions, and reinforced by supportive Government policy."

Harworth shares were up 3.2% on Tuesday at 109.90p each.

More News
14 Sep 2021 17:46

TRADING UPDATES: Strong annual results from Springfield, Fiske

TRADING UPDATES: Strong annual results from Springfield, Fiske

Read more
7 Sep 2021 16:25

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
6 Sep 2021 15:30

IN BRIEF: Harworth completes Multiply joint venture at Logistics North

IN BRIEF: Harworth completes Multiply joint venture at Logistics North

Read more
23 Jul 2021 16:51

Liberum ups Harworth target price following trading update

(Sharecast News) - Analysts at Liberum revised up their target price for Harworth in the wake of the land and property regeneration company's latest trading update.

Read more
23 Jul 2021 13:13

Harworth beats forecasts after solid performance in first half

Harworth beats forecasts after solid performance in first half

Read more
23 Jul 2021 12:24

LONDON MARKET MIDDAY: FTSE 100 set for weekly gain as extends recovery

LONDON MARKET MIDDAY: FTSE 100 set for weekly gain as extends recovery

Read more
23 Jul 2021 11:01

SMALL-CAP WINNERS & LOSERS: Harworth rallies as it raises outlook

SMALL-CAP WINNERS & LOSERS: Harworth rallies as it raises outlook

Read more
23 Jun 2021 14:47

DIRECTOR DEALINGS: Trackwise Designs CFO Hodgkins buys 10,000 shares

DIRECTOR DEALINGS: Trackwise Designs CFO Hodgkins buys 10,000 shares

Read more
22 Jun 2021 14:51

IN BRIEF: Harworth Group planning approved for Bolton development

IN BRIEF: Harworth Group planning approved for Bolton development

Read more
25 May 2021 16:12

IN BRIEF: Harworth advances Ironbridge project, confident for 2021

IN BRIEF: Harworth advances Ironbridge project, confident for 2021

Read more
21 May 2021 15:48

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
18 May 2021 15:50

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
29 Apr 2021 16:09

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
1 Apr 2021 17:28

IN BRIEF: Harworth acquires Towngate Business Park for GBP12.7 million

IN BRIEF: Harworth acquires Towngate Business Park for GBP12.7 million

Read more
19 Mar 2021 15:51

DIRECTOR DEALINGS: Wizz Air Chair William Franke cuts stake to 57.6%

DIRECTOR DEALINGS: Wizz Air Chair William Franke cuts stake to 57.6%

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.