Harworth sees double digit NAV growth

By James Buckley - Wednesday, September 06, 2017 11:05

Harworth Group, the brownfield land and property developer & investor, saw continued double digit growth in NAV as it reported its interim results for the half year ended 30 June 2017.

Full year financial forecasts are in line with the board’s expectations but weighted towards the second half of the year



As at 31 June 2016, NAV, EPRA NNNAV and EPRA NAV respectively were £377.0m, £379.0m and £385.7m

Profit from operations increased to £1m and value gains (including development properties) increased to £10.1m (H1 2016: £7.4m).

Increases in earnings per share to 5.37p (H1 2016: 0.30p) and underlying earnings per share 5.17p (H1 2016: 2.04p) reflected improvements in the deferred tax position. 

Harwarth raised £27.1m in March 2017 in keeping with its policy of prudent gearing maintained with net loan to value of 2.5%.



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