St Ives has announced the sale of another property, this time its Peterborough asset for £5.7m. We expect this to net to c£5.6m with no tax payable. There will be a loss of £0.4m of EBIT from leasing the property, but this sale helps reduce debt and leverage ratios. Our FY17 year net debt drops to £59.8m vs previous £65.4m. FY18e and FY19e fall to £50.0m (was £55.5m) and £41.0m (was £46.4m) respectively. Leverage ratios (net debt/EBITDA) fall to 1.76x for FY17 (was 1.92x), 1.65x for FY18 (was 1. ....
