Capreg final results December 2018
Revenue for the year went up to GBP91.0 million (GBP89.2 million) whereas gross profit was higher at GBP56.1 million (GBP55.7 million). Loss for the year came in at GBP25.6 million (profit of GBP22.4 million). In addition, headline earnings per share increased to GBP4.2 pence per share (GBP4.0 pence per share).
The board is recommending a final dividend of GBP0.60 pence per share taking the full year dividend to GBP2.42 pence per share. This represents a decrease of GBP33.5 per cent over the 2017 full year dividend of GBP3.64 per share.
Our operational performance has remained robust throughout a challenging year in the retail market which has been driven predominantly by the accelerated pace of structural change and exacerbated by Brexit uncertainty. These headwinds present some constraints and the need to be selective on the investment of capex. We are also seeing the ongoing polarisation in retail venues, and the need for retailers to improve profitability and enable greater levels of investment in their customer proposition, both physical and online.
However, despite these headwinds, I remain confident that our strategy will realise the potential of our existing portfolio, which is underpinned by its bias towards high population growth areas in London and proximity to busy transport hubs. We continue to believe that the intersection of where product meets people remains of critical importance to brands and retailers and that our centres have a vital role to play as distribution platforms for goods and services.