LONDON (dpa-AFX) - Helical plc (HLCL.L), a property investment and development company, Thursday reported a loss before tax of 189.64 million pounds for the full year, wider than 64.51 million pounds loss in the previous year, primarily due to higher loss on revaluation of investment properties.
Helical also said its Chief Executive Officer, Gerald Kaye has informed the company about his wish to step down from the post in July this year. Matthew Bonning-Snook, property director of Helical, will replace Kaye.
Revaluation of investment properties was a loss of $181.21 million pounds, up from 97.85 million pounds loss last year.
Net loss increased to 189.81 million pounds or 154.6p per share from 64.51 million pounds or 52.6p per share loss a year ago.
EPRA earnings decreased to 4.25 million pounds or $3.5p per share from 11.51 million pounds or 9.4p per share last year.
Revenue for the year declined to 39.91 million pounds from 49.85 million pounds in the previous year.
The company further said that considering full-year results and fall in EPRA earnings, its Board will recommend a reduced final dividend of 1.78p per share, the minimum PID payment required under the REIT regime, compared with 8.70p per share last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
