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 on Monday said strong momentum in the current year has left it on track to deliver against its strategy.
The Rotherham, South Yorkshire-based land regenerator said it has performed strongly since the start of 2024, though it cautioned that there is still a ‘somewhat uncertain economic backdrop’.
Chief Executive Lynda Shillaw said: ‘Strong demand remains for our serviced residential products which provide us with regular funding as we make excellent progress on our industrial & logistics pipeline in the remaining years of our current strategic planning period.’
Harworth said it was on target to hit its £1 billion EPRA net disposal value by the end of 2027.
The company said it had completed, exchanged or in heads of terms on 75% of budgeted sales for the current financial year.
Harworth remains ‘well capitalised with a conservative balance sheet and strong financial position,’ it added.
As at April 30, net debt was £63.1 million, up from £36.4 million at December 31.
Shares in Harworth fell 2.6% to 134.00 pence in London on Monday.
Copyright 2024 Alliance News Ltd. All Rights Reserved.