Trading Update

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

 

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