Raven Property Group swings to earnings in 2019
Raven Property Group Limited
3.82p
17:31 01/06/22
Raven Property Group reported a 7% improvement in its net operating income in its final results on Monday, to £126.5m.
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The London-listed firm said its underlying earnings were ahead 116% for the year ended 31 December, to £43.2m, while its and IFRS earnings swung to £46m from a loss of £120.7m in 2018.
Basic earnings per share stood at 8.16p for the 12 months, compared to a loss per share of 18.81p a year earlier, while its diluted net asset value per share improved to 75p from 48p.
Raven said its current occupancy was 92%, and added that its investment property valuation had risen to £1.34bn from £1.18bn.
Cash balances presently stood at £104.4m.
“We are very proud of these excellent results which demonstrate the potential of our business,” said chief executive officer Glyn Hirsch.
“Understandably given recent events our focus is now on managing the business through this volatile period.”
At 1209 GMT, shares in Raven Property Group were down 6.42% at 33.5p.