21 Jan 2021 07:00
Highcroft Investments PLC
Q1 Trading update
Trading update
The board of Highcroft Investments PLC is pleased to report that 93% of the rent invoiced and due to date for the quarter ending 31 March 2021, Q1 of the current financial year, has been collected. These figures are based on rent due and do not take into account rents payable monthly. The group has worked with its tenants to collect outstanding cash and minimise bad debts and has undertaken several asset management initiatives including the agreement of new contractual terms to secure the long-term profitability and value of the portfolio.
Outlook
The on-going property investment environment, in particular the retail and leisure sectors, remains challenging and we cannot predict the full impact of current or future lockdowns. However, we continue to believe that our diversified asset selection criteria and tenant mix within our current portfolio creates a strong base from which to continue to develop our business and generate further shareholder value. The group continues to take a cautious approach to working capital management and is focussed on continuing to deliver long-term shareholder value post COVID-19.
Charles ButlerChairman20 January 2021
For further information, contact:
Highcroft Investments PLC
Charles Butler/Roberta Miles
01869 352766
N+1 Singer
Peter Steel / Amanda Gray - Corporate Finance
Tom Salvesen - Corporate Broking
020 7496 3000