REG - Wynnstay Properties - Trading Update

Wynnstay PropertiesAnnouncement

27/03/2018 16:40

RNS Number : 1366J
Wynnstay Properties PLC
27 March 2018
 

WYNNSTAY PROPERTIES PLC
("Wynnstay" or "the Company")
Trading Update
27  March 2018
 
Following the Company's financial year-end on 25 March 2018 Wynnstay provides a trading update ahead of the announcement of its financial results on or about 14 June 2018.
 
Wynnstay's independent valuers have revalued the Company's investment properties at 25 March 2018 to £30,070,000. This represents an increase of £1,631,000 over the book value at 25 March 2017 (adjusted for disposals) and equates to approximately 60 pence per share.
 
This significant increase in value is a result of the successful negotiation of several important lease extensions, lease renewals and rent reviews during the period. These positive outcomes have further enhanced the lease profile and future income stream of the portfolio
 
The increase in the property valuation, together with anticipated and actual profits on disposal of investment properties and trading profits is expected to result in an increase in net asset value per share from 25 March 2017 of approximately 100 pence per share.  All figures quoted are subject to audit.   
 
This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
 
Enquiries:
Wynnstay Properties PLC
Toby Parker - Finance Director - 020 7554 8769
Nominated Adviser and Broker
Panmure Gordon (UK) Limited Andrew Potts - 020 7886 2500



This information is provided by RNS
The company news service from the London Stock Exchange
 
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