June 24, 2020 / 6:27 AM / 2 months ago

BRIEF-St Modwen Properties Sees Lower H1 Adjusted EPRA Earnings At 4 Mln Stg To 5 Mln Stg

June 24 (Reuters) - St Modwen Properties PLC:

* ST MODWEN PROPERTIES PLC - HAD A POSITIVE START TO 2020

* ST MODWEN PROPERTIES PLC - COVID-19 IMPACT TO DATE HAS BEEN LESS THAN WE HAD ASSUMED IN OUR INITIAL STRESS-TESTING

* ST MODWEN PROPERTIES PLC - COVID-19 CRISIS WILL LEAD TO A REDUCTION IN HOUSEBUILDING PROFITS AND RETAIL RENT IN FIRST HALF OF 2020

* ST MODWEN PROPERTIES PLC - REDUCTION IS EXPECTED TO REDUCE ADJUSTED H1 2020 EPRA EARNINGS TO C. £4-5M (H1 2019: £16.2M)

* ST MODWEN PROPERTIES PLC - SEE REDUCTION IN VALUATION OF OUR RESIDUAL RETAIL ASSETS AND SURPLUS RESIDENTIAL LAND

* ST MODWEN PROPERTIES - HAVE TAKEN STEPS TO MANAGE COST BASE INCLUDING TEMPORARY TAPERED REDUCTION IN PAY FOR HIGHER EARNERS & SELECTIVE REDUNDANCIES Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below