Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Harworth Group PLC - Rotherham, South Yorkshire-based land regenerator - Pretax profit drops to £30.9 million in 2022 from £127.2 million in 2021, despite revenue rising by 52% to £166.7 million from £109.9 million, as takes a £19.9 million net loss on fair value of investment properties and assets held for sale, compared to a £85.0 million net gain a year before. However, total net asset value rises to £602.7 million as of December 31 from £578.0 million a year before. Completes sales of 2,236 land plots, up from 1,411 in 2021, and has 29,311 more plots available to sell from its pipeline. Declares 0.929 final dividend, which increases total dividend by 8.3% to 1.3 pence from 1.2p.
‘We continued to make significant operational progress during the year, delivering increased levels of direct development, accelerated land sales and targeted acquisitions in line with our strategy to become a £1 billion business by 2027,’ says Chief Executive Lynda Shillaw.
Current stock price: 116.50 pence, down 3.3% on Tuesday in London
12-month change: down 29%
Copyright 2023 Alliance News Ltd. All Rights Reserved.