DJ Hardman & Co Research: Palace Capital (PCA): Strong trading update
Hardman & Co Research
Hardman & Co Research: Palace Capital (PCA): Strong trading update
22-Apr-2021 / 16:40 GMT/BST
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Hardman & Co Research: Strong trading update
December 2020 quarter rents showed 92% received; as of the 14 April trading update, 82% of the rents due end-March
under the monthly payment plans had been received - a good initial profile. Hudson Quarter (HQ) sales are progressing
well into a robust market, and the leisure assets have seen several new lettings. It is also encouraging to see ongoing
small, non-core disposals at above book. In addition, cash and facility headroom are more than adequate, at GBP14.4m, and
the company's strategy and its execution remain attractive after the test of COVID-19. The largest segment is regional
offices, and there is a positive upside opportunity here for 2021, we believe.
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1187869 22-Apr-2021
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(END) Dow Jones Newswires
April 22, 2021 11:40 ET (15:40 GMT)
