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Industrials
MLI trading estate

Latest Results

  • Annual Report 2019

    For the year ended 31st March 2019

    • Key FY2019 milestones met:
      • Property portfolio comprising 42.7% multi-let industrial (‘MLI’) (2018: 20.1%).
      • Group LTV ratio 44.2% (2018: 49.2%).
      • Full year dividend fully covered by property-related earnings.
    • Declared final dividend on 5 June 2019 of 3.375 pence per share, which together with the interim dividend declared on 21 November 2018 of 3.375 pence per share, results in a total dividend for the year ended 31 March 2019 of 6.75 pence per share (2018: 8.0 pence).
    • Net rental income of £33.9 million (2018: £32.9 million). Profit after tax of £23.8 million (2018: £39.4m). Adjusted EPRA profit after tax was £25.2 million (2018: £25.8 million).
    • Diluted adjusted EPRA EPS of 8.84 pence (2018: 9.09 pence). Diluted IFRS EPS was 8.35 pence (2018: 13.89 pence).
    • Diluted EPRA net asset value per share of £1.41 (2018: £1.41). Diluted IFRS net asset value per share was £1.36 (2018: £1.36).

    Paul Arenson, CEO of Stenprop, commented:

    “We are pleased with the progress that Stenprop has made in the past financial year. Our dividend is in line with guidance and covered by property-related earnings. All of our milestones for the year have been met and we are well positioned to meet our target milestones for the financial year ending 31 March 2020. We ended the financial year with more than 40% of our portfolio comprising UK multi let industrial property, our leverage levels below 45% and our dividend fully covered by property-related earnings. We are listed on the LSE and have converted to UK REIT status. We have also largely exited all third-party investment management activity.”

    Downloads

    Annual Report 2019
    2019 Results Presentation

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