Preliminary Results for the year ended 30 November 2006
St. Modwen posts record results for fourteenth successive year.
St. Modwen Properties PLC is a regeneration specialist which focuses on town centre regeneration; partnering industry in its restructuring; brownfield land renewal; and restoring heritage
Highlights
* Profit before tax increased by 17% to £96.9m (2005: £82.9m)
* Earnings per share up 11% to 61.6p (2005: 55.4p)
* Net assets per share increased by 20% to 323p (2005: 268p)
* Proposed final dividend of 6.8p per share (2005: 5.9p) increasing total dividends for the year by 16% to 10.2p (2005: 8.8p)
* Significant progress in marshalling future major projects
Anthony Glossop, Chairman, comments:
“On the back of our marshalling programme, we move into the present year with a strong, if demanding, target. The present year has started well, but the results will be more second-half orientated than in the past. Overall I would expect it to be a year of continued progress and we remain on track to meet our corporate financial target of doubling net asset value per share every five years. .”
12 February 2006
Enquiries:
St. Modwen Properties PLC
Anthony Glossop, Chairman 020 7457 2020
Bill Oliver, Chief Executive
thereafter – 0121 222 9400
Tim Haywood, Finance Director
College Hill
Gareth David 020 7457 2020
A presentation for analysts will be held at 11.00am today at College Hill, 78 Cannon Street, London EC4
