Palace’s H1 20 interims reported net rental income of £7.9m (broadly flat y/y vs. our FY20e estimate of £15.2m; implied H1/H2 split of 52%/48%). Adj. PBT (excl. surrender premium, share-based payments and revaluation/impairments/other exceptionals) of £3.9m was down ~9% y/y due to lower management fees, higher property costs and admin expenses, but compares to our FY20e estimate of £7.8m (which we leave unchanged, implied H1/H2 split of 50%/50%). Adj. EPS of 8.5p
19 Nov 2019
H1 20 interims – on track to meet FY20 earnings; good progress at Hudson Quarter
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H1 20 interims – on track to meet FY20 earnings; good progress at Hudson Quarter
Palace Capital plc (PCA:LON) | 232 0 0.0% | Mkt Cap: 87.1m
- Published:
19 Nov 2019 -
Author:
Kunal Walia -
Pages:
11
Palace’s H1 20 interims reported net rental income of £7.9m (broadly flat y/y vs. our FY20e estimate of £15.2m; implied H1/H2 split of 52%/48%). Adj. PBT (excl. surrender premium, share-based payments and revaluation/impairments/other exceptionals) of £3.9m was down ~9% y/y due to lower management fees, higher property costs and admin expenses, but compares to our FY20e estimate of £7.8m (which we leave unchanged, implied H1/H2 split of 50%/50%). Adj. EPS of 8.5p