In October 2023, CLS Holdings will pay an interim dividend for the current financial year of 2.60 pence per share, which is at the same level as the 2022 interim dividend, and in line with the revised dividend policy announced in May 2022 of 1.20x to 1.60x EPRA earnings dividend cover. The PID part of the dividend is 1.70 pence per share.
Other financial highlights include:
Portfolio valuation down 5.5% in local currencies, ahead of the office market reflecting the quality of their portfolio and indexed-linked leases. Yield expansion offset ERV increases and resulted in valuation decreases of 8.5% in the UK, 3.3% in Germany and 1.9% in France in local currencies
EPRA NTA down 11.5% primarily as a result of property valuation declines and foreign exchange losses from strengthening sterling
Loss before tax £106.4 million (30 June 2022: £21.3 million profit) principally due to valuation declines on investment properties of £132.9 million (30 June 2022: £5.1 million decline)
EPRA EPS down 10.3% to 5.2 pence per share with higher net rental income more than offset by higher financing costs and foreign exchange losses. Statutory EPS was a loss of 26.2 pence per share due to valuation declines across all regions
Total accounting return per share of -9.9% (30 June 2022: 2.2%)
