CLS reaffirms FY guidance despite political uncertainties

Property investment firm CLS Holdings on Thursday reaffirmed full-year guidance despite continuing economic and political uncertainties.

The company said it had completed four acquisitions from July 1 to November 20 for a total of £109.2m.

Four disposals over the same period raised a total of £91.7m, releasing £70m million of cash after repayment of the associated debt, CLS said in a trading statement.

It also sold its 10.5% shareholding in Sweden-listed logistics property firm Catena realising £113m in cash.

“These disposals put the Group in a strong position with cash and liquid resources of £185m, which we intend to reinvest in further acquisitions,” the company said.