Derwent London Plc have increased their interim dividend by 2.1% to 24.5p per share from 24.0p last year. It will be paid as a PID on 13 October 2023 to shareholders on the register as at 8 September 2023.
Other financial highlights include:
EPRA net tangible assets 3,444p per share, down 5.2% from 3,632p at 31 December 2022
Gross rental income of £105.9m, up 3.9% from £101.9m (restated) in H1 2022
EPRA earnings £55.6m or 49.5p per share, down 7.0% from 53.2p (restated) in H1 2022
IFRS loss before tax of £143.1m from a profit of £137.1m in H1 2022
Total return -3.7% from +3.0% in H1 2022
Interest cover remains high at 411% (H1 2022: 419%) and EPRA loan-to-value ratio low at 25.0% (31 December 2022: 23.9%)
Net debt of £1,274.0m, a marginal increase compared to £1,257.2m at 31 December 2022
Undrawn facilities and unrestricted cash of £562m
