Sigma Capital has reported final results for FY17 in line with our forecasts. Sigma has transformed the model with the successful launch of The PRS REIT and growing delivery bandwidth with existing and new partners. The REIT has made a strong start delivering new homes, contributing fee income and development profits. These results show only a part year picture. We see this building further momentum in the current year. We leave our forecasts and valuation approach (>140p/share intrinsic value) ....
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FY17 in line, foundations laid for material progress
- Published:
24 Apr 2018 -
Author:
Andrew Watson -
Pages:
3
Sigma Capital has reported final results for FY17 in line with our forecasts. Sigma has transformed the model with the successful launch of The PRS REIT and growing delivery bandwidth with existing and new partners. The REIT has made a strong start delivering new homes, contributing fee income and development profits. These results show only a part year picture. We see this building further momentum in the current year. We leave our forecasts and valuation approach (>140p/share intrinsic value) ....