25 Jul 2017
N+1 Singer - St Ives - Disposal aids deleveraging
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. ....
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N+1 Singer - St Ives - Disposal aids deleveraging
Kin and Carta Plc (KCT:LON) | 129 0.3 0.2% | Mkt Cap: 230.2m
- Published:
25 Jul 2017 -
Author:
Johnathan Barrett -
Pages:
3
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. ....