Cookies on the
St. Modwen website

We use cookies to ensure that we give you the best experience on our website. If you continue we'll assume that you are happy to receive all cookies on the St. Modwen website.

Continue



13th February 2006

St. Modwen Properties PLC Preliminary results for the year ended 30 November 2005

St. Modwen Properties PLC is a regeneration specialist. It has four particular areas of specialism: town centre regeneration; partnering industry in its restructuring; brownfield land renewal; and restoring heritage.

HIGHLIGHTS

* Profit before tax increased by 15% to £46.3m (2004: £40.3m)
* Earnings per share up 15% to 28.7p (2004: 25.0p)
* Net assets per share increased by 24% to 273.9p (2004: 221.4p)
* Proposed final dividend of 5.9p per share (2004: 5.1p) brings total dividends for the year to 8.8p (2004: 7.6p), an increase of 16%
* Significant progress in marshalling future major projects

Anthony Glossop, Chairman, comments:

"We have once again, had a good start to the year, with transactions already exchanged or completed or agreements for lease exchanged that will provide future investment sales which should give rise to property profits in excess of £16m. The investment property market remains very strong and the occupational market, although variable, offers opportunities for an active developer. The general economic climate is perhaps more uncertain than for some time but nonetheless, I am looking forward with confidence to another year of progress."

February 13, 2006

Enquiries:
St Modwen Properties www.st modwen.co.uk
Anthony Glossop, Chairman
Bill Oliver, Chief Executive
Tim Haywood, Finance Director

College Hill
Gareth David 020 7457 2020
Matthew Gregorowski

A presentation for analysts will be held at 11.00am today at College Hill, 78 Cannon Street, London EC4


Back to news