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    SHB   GB0007990962

SHAFTESBURY PLC

(SHB)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/21 11:35:07 am
635 GBX   -2.31%
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UK's Shaftesbury resumes final dividend after smaller annual loss

11/30/2021 | 02:46am EST
FILE PHOTO: The spread of coronavirus disease (COVID-19) in London

(Reuters) - West End-focused commercial landlord Shaftesbury Plc reported on Tuesday a smaller annual loss and resumed final dividend payment, helped by a bounce back in the prospects of its core tenant base of hospitality firms and fashion retailers.

Landlords heavily exposed to non-essential retailers and restaurants are on a slow, yet steady recovery path since the full reopening of businesses in July after the COVID-19 lockdowns and an extended ban on evictions battered commercial revenue streams and pummelled valuations.

"There has been great progress on Shaftesbury's road to recovery in recent months," Chief Executive Officer Brian Bickell said in a statement, adding that "although there is still further to travel before certainty and confidence fully returns".

In an indication of the pandemic impact, the FTSE 250 company said a per-share measure that reflects the value of its buildings - EPRA Net Tangible Assets - fell 15% to 6.19 pounds, while overall portfolio valuation declined 5.4% on a like-for-like basis.

Shaftesbury, which owns about 600 buildings in the heart of London's West End, said loss after tax for the year ended Sept. 30 narrowed to 194.9 million pounds ($259.59 million), from 699.5 million pounds and recommended a final dividend of 4 pence per share.

Earlier this month, UK commercial property heavyweights Land Securities Plc and British Land Plc swung back to half-year profit, partly helped by strong rents at their core office portfolios.

($1 = 0.7508 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips)


ę Reuters 2021
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Analyst Recommendations on SHAFTESBURY PLC
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Financials
Sales 2022 126 M 171 M 171 M
Net income 2022 141 M 192 M 192 M
Net Debt 2022 786 M 1 065 M 1 065 M
P/E ratio 2022 17,2x
Yield 2022 1,55%
Capitalization 2 436 M 3 304 M 3 302 M
EV / Sales 2022 25,5x
EV / Sales 2023 24,1x
Nbr of Employees 54
Free-Float -
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Technical analysis trends SHAFTESBURY PLC
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Last Close Price 635,00 GBX
Average target price 630,75 GBX
Spread / Average Target -0,67%
EPS Revisions
Managers and Directors
Brian Bickell Chief Executive Officer & Executive Director
Christopher Peter Alan Ward CFO, Finance Director & Executive Director
Jonathan C. Nicholls Non-Executive Chairman
Sally Elizabeth Walden Independent Non-Executive Director
Richard John Akers Senior Independent Non-Executive Director
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