LONDON (dpa-AFX) - Capital & Counties Properties Plc (CAPC.L), a British property investment and development firm, said on Monday that trading for the year ended Dec 31, 2022 witnessed a successful Christmas period including like-for-like customer sales exceeding pre-pandemic levels.
In its trading update, the company said it has posted a firm Estimated Rental Value or ERV for the fiscal 2022, amidst continued momentum at Covent Garden with robust trading conditions.
For the fiscal 2022, the company posted a 6 percent ERV growth over the year. For the first-half, it recorded an ERV growth of 4 percent, followed by 2 percent in the second-half.
Covent Garden recorded a continued ERV growth over the last 12 months, up 6 percent on a like-for-like basis to 81 million pounds, reflecting the positive leasing activity and high occupancy levels across the estate.
Total ERV of Covent Garden has remained 19 percent below 2019 ERV.
The company expects the merger of Capco with Shaftesbury Plc to be effective during the first quarter as the deadline for the CMA to provide its Phase 1 verdict is scheduled for February 22.
The Board has declared a second interim dividend of 1.7 pence per share, bringing the total dividend for the year to 2.5 pence per share against last year's 1.5 pence. The dividend will be paid on March 20, to shareholders of record on March 3.
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