Harworth Group (HWG)

Sector:

Real Estate

Index:

FTSE Small Cap

173.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 175.50
  • 52 Week Low: 95.40
  • Currency: UK Pounds
  • Shares Issued: 324.88m
  • Volume: 217,820
  • Market Cap: £562.04m

Harworth Group posts value gains 'appreciably' ahead of expectations

By Iain Gilbert

Date: Tuesday 09 Jan 2018

LONDON (ShareCast) - (ShareCast News) - Brownfield land and property development firm Harworth Group returned another strong operational performance in the second half of its trading year.
Coupled with the "indicative outcome" of the independent valuation of the group's property portfolio, Harworth's financial performance over the six months leading to 31 December was slated to be ahead of expectations.

Value gains had been highlighted as being "appreciably" ahead and EPRA NNNAV to be moderately ahead of forecasts.

Profit excluding value gains was also anticipated to fall in line with predictions.

Harworth's balance sheet and cash flow remained strong after investing all £27.1m raised during its March 2017 equity placing.

Owen Michaelson, chief executive officer, said, "The group had a strong first half of the year as highlighted in our interim results. This momentum has continued into the second half, with full-year results anticipated to exceed our expectations. Sales on consented land at our key development sites have been achieved at above book value and good progress on planning and lettings has driven the growth in the valuation of our portfolio."

"This robust position reflects the underlying strength of our business model and the ability of our management team to deliver the majority of our value gains. We remain confident in the long-term fundamentals of the residential and commercial markets in the North of England and the Midlands. This, in turn, gives us the assurance we need to continue to invest in new sites to deliver future shareholder value," he added.

The firm expected to announce its full-year results for the financial year ended 31 December 2017 on 6 March.

As of 1645 GMT, shares had gained 3.23% to 112.00p.

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Harworth Group Market Data

Currency UK Pounds
Share Price 173.00p
Change Today -2.00p
% Change -1.14 %
52 Week High 175.50
52 Week Low 95.40
Volume 217,820
Shares Issued 324.88m
Market Cap £562.04m

Harworth Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.43% below the market average88.43% below the market average88.43% below the market average88.43% below the market average88.43% below the market average
90% below the sector average90% below the sector average90% below the sector average90% below the sector average90% below the sector average
Price Trend
84.04% above the market average84.04% above the market average84.04% above the market average84.04% above the market average84.04% above the market average
95.24% above the sector average95.24% above the sector average95.24% above the sector average95.24% above the sector average95.24% above the sector average
Income
90.62% below the market average90.62% below the market average90.62% below the market average90.62% below the market average90.62% below the market average
92.86% below the sector average92.86% below the sector average92.86% below the sector average92.86% below the sector average92.86% below the sector average
Growth
5.73% below the market average5.73% below the market average5.73% below the market average5.73% below the market average5.73% below the market average
2.70% above the sector average2.70% above the sector average2.70% above the sector average2.70% above the sector average2.70% above the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Harworth Group Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 21-Sep-23
Paid 24-May-24 20-Oct-23
Amount 1.02p 0.44p

Trades for 18-Jul-2024

Time Volume / Share Price
16:38 2,170 @ 173.00p
16:35 1,886 @ 173.00p
16:35 21 @ 173.00p
16:35 239 @ 173.00p
16:35 53 @ 173.00p

Harworth Group Key Personnel

CEO Lynda Shillaw

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