Shaftesbury Capital H2 Earnings Call Highlights

• Shaftesbury reported beardown results with portfolio valuation up 6.6% like‑for‑like to GBP 5.4bn, underlying net up 12% to GBP 81.9m, and a full‑year dividend accrued 14% to 4p per share.

• Leasing momentum remained robust: gross rents roseate 5.9% like‑for‑like to GBP 195.6m, absorption completed 434 transactions (~GBP 40m) astatine rents ~10–14% ahead of benchmarks, vacancy was conscionable 2.6%, and determination is simply a 26% embedded uplift betwixt existent income and marketplace rents.

• The equilibrium expanse was materially strengthened via a Covent Garden JV with NBIM, cutting nett indebtedness to GBP 0.8bn (LTV 17%), lowering concern costs and leaving disposable liquidity including a caller GBP 300m installation and GBP 450m undrawn capacity.

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Shaftesbury Capital (LON:SHC) reported what absorption described arsenic “another fantabulous twelvemonth of advancement and performance” arsenic it presented its 3rd acceptable of yearly results, pointing to maturation successful rents, valuations, earnings, and dividends alongside a importantly strengthened equilibrium sheet.

Chief Executive Ian Hawksworth said conditions crossed London’s West End remained “very active” contempt macroeconomic and geopolitical risks, with affirmative trends successful footfall and income crossed the company’s premier portfolio. He highlighted a “strong pipeline” of leasing activity, constricted vacancy, and continued momentum crossed the group’s cardinal destinations: Covent Garden, Carnaby, Soho, and Chinatown.

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Management said the portfolio valuation accrued 6.6% like-for-like to GBP 5.4 billion, supported by a 6% summation successful estimated rental worth (ERV) and a 2 ground point inward question successful yields. Hawksworth said the institution delivered a 9.1% full accounting return and a 10.1% full spot return, which helium characterized arsenic successful enactment with medium-term targets.

Underlying net roseate 12% to GBP 81.9 million, oregon 4.5 pence per share, according to Finance Director Situl Shah. The committee projected a final dividend of 2.1 pence per share, taking the full-year dividend to 4 pence per share, an summation of 14% year-over-year.

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Shah said gross rents roseate 5.9% like-for-like to GBP 195.6 million, which absorption attributed to leasing and plus management. Across the year, the institution completed 434 leasing transactions representing astir GBP 40 million of contracted rent. Those deals were completed astatine astir 10% ahead of December 2024 ERV and 14% ahead of erstwhile passing rents. Vacancy crossed the portfolio was reported astatine 2.6%.