CapCo NAV jumps 25%
Capital & Counties has increased NAV by 25% to 311p. The Covent Garden and Earls Court developer saw the value of its portfolio rise by 22% to £3bn in the year to 31 December. Pretax profits totalled £450m as rental income reached £100m with a gain on the sale of investment and development property of £454m.
SEGRO repositioning pays off
SEGRO’s NAV climbed 23% to 384p in 2014, as its three-year strategic repositioning drew to a close. The company said investment demand for logistics remained strong as the value of its portfolio rose by 12% to £4.8bn. Full-year profits were up 208% to £654.4m. The company has completed £1.6bn of disposals since 2011 and £1.3bn of acquisitions.
KWE invests £1.5bn
Kennedy Wilson Europe has invested £1.5bn across 82 properties and five loan portfolios in the 10 months since it floated on the London Stock Exchange. NAV has risen by 5.6% since the IPO to 1,021p per share, according to its full-year results.
LSH earnings soar by 118%
Lambert Smith Hampton contributed £8.4m in earnings to parent Countrywide’s full-year results, an increase of 118% on 2013. Revenue at LSH rose to £72.8m, a six-year high. Some 60% of LSH’s revenue came from consulting and 20% from valuations. London led the growth, with income from the region up 13%. Countrywide’s pretax profit rose by 63% to £102.4m and revenues climbed 20% to £702m.
