CLS reaffirms FY guidance despite political uncertainties
CLS Holdings
86.10p
16:40 28/03/24
Property investment firm CLS Holdings on Thursday reaffirmed full-year guidance despite continuing economic and political uncertainties.
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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.