SMP.L Share News (SMP)

(Sharecast News) - Property investor St. Modwen on Tuesday reported a 4.3% rise in its full year net asset value (NAV) per share to 470.4p as profits came in flat at £60.5m.The company lifted its total dividend 13.1% to 7.1p a share.Chairman Mark Allan said 2018 had been "another positive year"."With £529m of disposals, we made substantial progress on our objective to focus our portfolio on sectors with the best structural growth prospects and reduce our borrowings, whilst we continued to grow housebuilding volumes and industrial and logistics development activity.""Despite the ongoing uncertainty in the wider UK economy, structural growth drivers in these two key sectors remain positive, so following the significant repositioning over the past 18 months, we are now well placed to deliver a meaningful improvement in our return on capital and earnings in the coming years."