Harworth Group announced on Thursday that it foresees the adjusted net disposal value to be similar to the end of 2022, with headwinds expected to persist throughout the year.
As of June 30, the European Real Estate Association Net Disposal Value is projected to be around £633.8 million ($818.2 million), or 196.5 pence per share, aligning with the levels seen on December 31. This resilience in performance is attributed to positive valuation movements resulting from portfolio management actions, effectively counterbalancing yield fluctuations within the industry.
Harworth Group’s net debt increased from £48.4 million as of December 31 to £63.7 million as of June 30. Liquidity also slightly decreased from £175.6 million to £163.5 million. However, the company assured that significant refinancing needs are not expected until 2027.
“Although economic headwinds persist, there are early indications of easing inflationary pressures. Against this backdrop, our focus markets, including industrial & logistics and residential sectors, remain pivotal for economic growth and exhibit favorable supply and demand dynamics,” stated Chief Executive Lynda Shillaw.
Shares dropped 2.1%, or 2.5 pence, to 117.0 pence at 0926 GMT.
