CLS Holdings (CLI)

Sector:

Real Estate

Index:

FTSE 250

158.40p
   
  • Change Today:
    -3.60p
  • 52 Week High: 231.00p
  • 52 Week Low: 131.40p
  • Currency: UK Pounds
  • Shares Issued: 407.40m
  • Volume: 100,120
  • Market Cap: £645.31m
  • RiskGrade: 119

CLS launches buyback as share price discount persists

By Josh White

Date: Wednesday 10 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Commercial landlord CLS reported a 17.8% fall in first-half profit before tax on Wednesday, to £20.3m, while EPRA earnings per share rose 74% to 5.8p, as it announced a £25.5m share buyback.
The FTSE 250 company said statutory earnings per share from continuing operations jumped 90.1% year-on-year in the six months ended 30 June, to 4.2p.

It declared an interim dividend of 2.6p per share, making for a 10.6% rise over the first-half distribution it paid last year.

CLS said its EPRA net tangible assets per share were ahead 0.7% over the prior year period at 352.8p, and statutory net asset values per share were up 0.89% at 329.2p.

Contracted rents were 0.3% higher year-on-year, at £107.9m for the first half.

"We remain focussed on actively managing our portfolio to drive long-term value and continue to invest where we see opportunities," said chief executive officer Fredrik Widlund.

"We are well placed to navigate the challenging economic and trading conditions with our high-quality portfolio, a significant portion of index-linked leases and strong balance sheet."

Widlund said the company continued to believe its share price discount was "unjustified", so it was announcing an initial £25.5m tender offer share buyback to address it.

"If the share price discount persists, we will consider further buybacks in tandem with disposals demonstrating the board's commitment to delivering shareholder value whilst maintaining the group's gearing at appropriate levels."

At 1052 BST, shares in CLS Holdings were up 4.45% at 217.25p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CLS Holdings Market Data

Currency UK Pounds
Share Price 158.40p
Change Today -3.60p
% Change -2.22 %
52 Week High 231.00p
52 Week Low 131.40p
Volume 100,120
Shares Issued 407.40m
Market Cap £645.31m
RiskGrade 119

CLS Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.10% above the market average67.10% above the market average67.10% above the market average67.10% above the market average67.10% above the market average
39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average
Price Trend
49.55% below the market average49.55% below the market average49.55% below the market average49.55% below the market average49.55% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Income
60.32% above the market average60.32% above the market average60.32% above the market average60.32% above the market average60.32% above the market average
18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average
Growth
86.45% below the market average86.45% below the market average86.45% below the market average86.45% below the market average86.45% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CLS Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Sep-22 24-Mar-22
Paid 03-Oct-22 29-Apr-22
Amount 2.60p 5.35p

Trades for 01-Dec-2022

Time Volume / Share Price
13:29 45 @ 158.40p
13:29 4 @ 158.40p
13:29 96 @ 158.40p
13:29 5 @ 158.40p
13:29 158 @ 158.40p

CLS Holdings Key Personnel

CEO Fredrik Widlund
CFO Andrew Kirkman

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