Aug 16th 2013 - Edison Investment Research today published a report on Quintain Estates And Development (QED.L, LSE:QED, LON:QED) entitled "IMS Reports Continued Operational Progress". In summary, the report says:
Quintain (QED) announced encouraging operational progress in its Q1 IMS, with planning approvals achieved at Greenwich, further lettings activity at Wembley, plus extension and diversification of its funding, with a £115m sterling bond. After gaining over 30% since May, the shares have stabilised recently in the wake of the debt reduction and structural progress in FY13, and now trade on a 14% discount to forecast NAV. Further narrowing of the discount looks likely to require continued positive project newsflow.
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