Last checked at 12 May 2015 07:01
Secure Property Development & Invest PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate
12 May 2015
Secure Property Development & Investment PLC ('SPDI' or 'the Company')
Notice of Results
Secure Property Development & Investment PLC, the AIM quoted South Eastern European focused property and investment company, announces that it expects to release its full year financial results for the year ended 31 December 2014, on 25 May 2015.
Highlights of the 2014 Annual Results, which are subject to final audit sign off, include:
· 59% increase in total asset value to €62 million (2013: €39million) reflecting the transformational acquisitions made during the year across the region
· 33% increase in rental income to €3.6 million (2013: €2.7million)
· 300% increase in EBITDA to €0.8 million (2013:€0.2million)
· £0.75 per share of Net Asset Value at year end (2013: £1.23) reflecting the issue of new ordinary shares during 2014 and write downs of assets in Ukraine
· Successfully implemented strategy to expand geographic spread of the portfolio to encompass fast growing South eastern European countries which offer high yields and capital growth
Lambros G. Anagnostopoulos, Chief Executive Officer, said, "The Company has made excellent progress in implementing its growth strategy as reflected in our numbers. We have increased the number of investments and the income generation capacity of our asset base and importantly diversified geographically. Our EBITDA and the capitalisation rates at which we are making acquisitions highlight the opportunities that can be achieved by deploying capital in the region and we envisage further transactions in the near term. SPDI has a portfolio of prime commercial real estate let out to blue chip tenants on long leases generating stable and visible cash flow. South East Europe has excellent potential for asset appreciation and yield compression and we believe we have a platform from which to grow SPDI substantially to the benefit of its shareholders."
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For further information please visit www.secure-property.eu or contact:
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Notes
Secure Property Development and Investment plc is an AIM listed property development and investment company focussed on the South East European markets. The Company's strategy is focussed on generating healthy investment returns principally derived from: the operation of income generating commercial properties and capital appreciation through investment in high yield real estate assets. The Company is focussed primarily on commercial and industrial property in populous locations with blue chip tenants on long term rental contracts. The Company's senior management consists of a team of executives that possess extensive experience in managing real estate companies both in the private and the publicly listed sector, in various European countries.