shaftesbury plc (SHB) Snapshot

Shaftesbury plc declared an interim dividend of 6.25 pence per share, an increase of 5.0% on last year's interim dividend of 5.95 pence. The interim dividend, which will be paid on July 5, 2013 to shareholders on the register at June 14, 2013. The dividend will be accounted for as an appropriation of revenue reserves in the year ending September 30, 2013. The company announced that John Manser retired as Chairman at the conclusion of the 2013 Annual General Meeting on February 8, 2013. He was succeeded as non-executive Chairman by Jonathan Lane, whose previous role as executive Deputy Chairman ceased.

Shaftesbury PLC reported unaudited group earnings results for the six months ended March 31, 2013. For the six months, the company reported net property income from continuing operations of £35.9 million compared to £35.5 million for the same period a year ago. Operating profit before investment property disposals and valuation movements was £30.6 million compared to £30.8 million last year. Operating profit was £92.6 million compared to £53.1 million last year. Profit before tax was £81.8 million compared to £38.1 million last year. Profit and total comprehensive income was £80.8 million or 32.0 pence per diluted share compared to £37.8 million or 15.0 pence per diluted share last year. Net asset value per diluted share was £4.69 compared to £4.27 per diluted share last year. Net cash generated from operating activities was £19.2 million compared to £17.0 million last year. Capital expenditure on properties was £9.1 million compared to £9.1 million last year. Net debt was £575.0 million as on March 31, 2013 compared to £536.1 million last year. EPRA adjusted profit before tax was £15.2 million compared to £16.1 million last year. EPRA adjusted earnings per share was 6.0 pence compared to 6.3 pence per share last year. EPRA adjusted diluted net asset value per share was £5.23 compared to £4.70 per share last year.

Shaftesbury plc, Q2 2013 Earnings Call, May 22, 2013