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London Property Firm Mapeley To Revalue "portfolio"

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Property revaluation pushes Mapeley into losses

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LONDON (ShareCast) - Property firm Mapeley (LSE: MAY.L - news) slumped into losses for the year due to the revaluation movements from (Advertisement)
its property portfolios and added that it still remains in negotiations with a potential suitor.
Pre-tax losses for the year to December came in at £129m versus the profit of £42.8m last year due to non-cash revaluation losses of £148.6m. Revenue rose 8.4% to £417.4.
Basic NAV per share decreased to £18.62 per share from £24.23 in 2006 while funds from operations grew 23% to £56.4m.
Talks from the nonbinding indication of interest it received in February is still ongoing, though the group added there was no certainty an offer will be forthcoming.
Our flexible and robust business model and the resilience of our income stream position us well to continue to deliver consistent returns and we look forward to 2008," said the group.
"We expect the
strong credit worthiness of our tenants
to support our cashflows and expect our vacancy rate to remain stable," it added
Dividends were raised 11.9% to 188p per share.

This is clearly a strong sell signal. Delusional.

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
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