LONDON (dpa-AFX) - Capital & Counties Properties plc (CAPC.L), on Wednesday, reported a turnaround to profit for the fiscal year 2021, and further said it looks ahead 'with confidence to continued progress in 2022 to generate long-term returns for shareholders from our unique portfolio of West End investments.'
The company reported fiscal 2021 profit from continuing operations of £29.3 million compared to a loss of £702.7 million incurred a year ago. Earnings from continuing operations attributable to owners of the Parent was 3.4p per share compared to a loss of 82.6p per share last year.
Equity attributable to owners of the Parent was £1.786 billion or 209.8p per share versus £1.760 billion or 206.8p per share in the prior year period.
Headline earnings per share was 5.3p versus a loss of 1.3p reported in the previous year. Underlying earnings totaled 0.5p per share compared to a loss of 0.7p per share in 2020.
Revenue for the year declined to £68.0 million from £73.9 million generated in the same period of last year.
Ian Hawksworth, Chief Executive of Capco, said, 'We are pleased with the strong level of leasing demand for Covent Garden which has contributed to a valuation uplift in the second half. With footfall continuing to increase, customer sales approaching 2019 levels and our creative approach, Covent Garden is the most vibrant district in the West End and is well-positioned for further rental growth...'
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