REG - Places For People Gp Places For People Ld Places For PeopleCap Places For PeopleTrs Places For PeopleFin - Places for People Group Half-year Report

National Storage REITAnnouncement

27/12/2018 08:05

RNS Number : 4812L
Places For People Group
24 December 2018
 


Places for People Group Limited Trading Update for the Period Ending 30 September 2018
 
Places for People Group Limited (the "Group") is pleased to issue its unaudited trading update for the six month period ending 30 September 2018 ("2018"). All comparatives are to the prior year equivalent period being the six months ended 30 September 2017 ("2017").        
Highlights
·   Operating profit has increased by 20.8% to £105.1m (2017: £87.0m) and the operating margin has improved to 25.1% (2017: 23.3%).
·     Fixed assets have increased to £4.4bn (2017: £4.0bn).
·     Net profit has increased by 9.4% to £48.8m (2017: £44.7m).
The Group's half‐year results show a year‐on‐year growth in operating profit driven by the introduction of Luminus to the Group in March 2018. The Group's continued targeting of service and asset management costs has improved the operating margins year-on-year.
The Group's strong results demonstrate the success of our integration of Derwent Living into the Group, and the continued drive for efficiency and focus on operating margins.
To view the full document, please paste the following URL into the address bar of your browser.
 
http://www.rns-pdf.londonstockexchange.com/rns/4812L_1-2018-12-24.pdf
A copy of the above document has also been submitted to the National Storage Mechanism and will shortly be available for inspection at:  http://www.morningstar.co.uk/uk/NSM.
For further information, please contact:
Places for People Group Limited

Tax and Treasury Director

80 Cheapside, London EC2V 6EE
Telephone: +44 (0)1772 897 200
Fax: +44 (0)1772 897 578
Email: matt.cooper@placesforpeople.co.uk
 
 




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