News Archive

Interim results for the six months to 31st May 2009

St Modwen, the UK’s leading regeneration specialist, announces half-year results for the six months ended 31st May 2009


* Successful equity issue, raising £102m net proceeds, and refinancing of bank facilities, has strengthened the Group balance sheet and provides significant firepower

* Trading profit of £6.8m in the period

* Net assets per share decline of 20% to 266p per share since 30th November 2008

* Strong progress in marshalling projects for future delivery and continued progress in adding schemes to the hopper

Anthony Glossop, Chairman, reporting on the period said:

“Our confidence in the longer-term remains undiminished, despite the turbulence in the general economy and in the property sector. The Company’s 5,000 acre Hopper, experienced management team and strong balance sheet provides us with an excellent platform for a return to growth.”

6th July 2009


St. Modwen Properties PLC

Bill Oliver, Chief Executive )
Tim Haywood, Finance Director ) 0121 222 9400
Charlotte McCarthy, PR Manager )

College Hill

Gareth David 020 7457 2020