Earnings Updates From Three FTSE 250 Stocks: Unite Group PLC, Serco Group PLC And Capital & Counties Properties PLC

Unite Group Plc results for the year ended 31st December 2019

(Source: Company’s filings, London Stock Exchange)

The company reported full-year results for FY19 on 26th February 2020. Due to an increase in rental income segment, the total group revenue increased to £156.2 million for the fiscal year 2019 as against £128.3 million in the fiscal year 2018.

European Public Real Estate Association (EPRA) stood at £110.6 million in the fiscal year 2019, an increase of 25 per cent from £88.4 million in the prior fiscal year, while EPRA earnings per share were 39.1 pence in the fiscal year 2019.

Led by the result of the impairment of goodwill and intangibles of £384.1 million relating to the Liberty Living acquisition, the statutory loss before tax stood at £101.2 million in the fiscal year 2019 as against a profit of £245.8 million in the fiscal year 2018. EPRA NAV surged by 8 per cent to 853 pence per share in the fiscal year 2019.

For the financial year 2019, the company’s Total accounting return decreased to 11.7 per cent in the year 2019 as against 13.2 per cent in the fiscal year 2018.

About Unite Group Plc

Unite Group Plc (LON: UTG) is the United Kingdom domiciled Real Estate Investment trust (REIT). The shares of the company have a listing on the London Stock Exchange in the main market segment, where they trade with the ticker name UTG. The shares of the Company also form part of the FTSE 250 index. The company develops, manages and owns purpose-built, student accommodations across the United Kingdom. The company claims itself to be a service provider to the United Kingdom’s world-class education sector before anything else by providing accommodation to around 50 thousand students in 100 plus properties spread across 20 plus universities in the United Kingdom and Scotland.

Unite Group Plc-Stock price performance

Daily Chart as at Feb-27-20, before the market close (Source: Thomson Reuters)

On 27th February 2020, at the time of writing (before market close, GMT 08:25 AM), Unite Group Plc’s shares were trading at GBX 1,254, down by 1.18 per cent against its previous day closing price. Stock's 52 weeks High and Low is GBX 1,351.00 /GBX 889.00. At the time of writing, the share was trading 7.18% lower than its 52w High and 41.06% higher than its 52w low. Stock’s average traded volume for 5 days was 658,086.80; 30 days – 493,876.50 and 90 days – 598,274.27. The average traded volume for 5 days was up by 33.25% as compared to 30 days average traded volume. The company’s stock beta was 0.69, reflecting lesser volatility as compared to the benchmark index. The outstanding market capitalisation was around £4.65 billion along with a dividend yield of 2.62%.

Serco Group Plc 2019 full-year results

(Source: Company’s filings, London Stock Exchange)

On 26th February 2020, the Group released results for the fiscal year 2019. The company’s revenue surged by 13 per cent at constant currency to £3.25 billion in the fiscal year 2019 as compared to £2.84 billion in the fiscal year 2018. This surge in revenue comprised of organic growth, currency benefits and contribution from acquisitions. The company’s Reported Operating Profit increased by 22 per cent at constant currency to £102.5 million in the fiscal year 2019 as compared to £80.5 million in the fiscal year 2018.

The underlying EPS surged by 18 per cent to 6.16 pence due to growth achieved in Underlying Trading Profit along with taxation rate cuts. Due to an increase in underlying profits, the Free Cash Flow improved sharply to £62 million during the period as against £16.3 million in the fiscal year 2018.

The company recorded solid order intake at £5.4 billion during the year, which led to an increase of £2.1 billion in the order book. The dividend payments were suspended in 2014. The board is looking forward to restarting dividends with a payment of 1 pence for the fiscal year 2019.

About Serco Group Plc

Serco Group Plc (LON: SRP) is a provider of Industrial support services. The company has differentiated its operations across different geographies: UK & Europe, Americas, Asia Pacific, Middle East, and Corporate. The company offers welfare and business operational support, environmental and leisure, professional, technology and management services, defence, transport, justice and immigration, citizen services and direct services such as facilities management.

Serco Group Plc -Stock price performance

Daily Chart as at Feb-27-20, before the market close (Source: Thomson Reuters)

On 27th February 2020, at the time of writing (before market close, GMT 08:32 AM), Serco Group Plc’s shares were trading at GBX 154.60, down by 2.03 per cent against its previous day closing price. Stock's 52 weeks High and Low is GBX 169.00/GBX 119.80. At the time of writing, the share was trading 8.52% lower than its 52w high and 29.05% higher than its 52w low. Stock’s average traded volume for 5 days was 1,721,448.00; 30 days – 1,368,499.03 and 90 days – 1,819,886.33. The average traded volume for 5 days was up by 25.79% as compared to 30 days average traded volume. The company’s stock beta was 1.22, reflecting higher volatility as compared to the benchmark index. The outstanding market capitalisation was around £1.95 billion.

Capital & Counties Properties PLC results for FY19

(Source: Company’s filings, London Stock Exchange)

On 26th February 2020, the company reported results for the financial year ended 31st December 2019. Due to Earls Court and Covent Garden valuation changes, the EPRA (European Public Real Estate Association) net asset value reduced by 10 per cent to 293 pence per share against the previous year and prior period (2018: 326 pence per share and Jun 2019: 315 pence per share).

On a like-for-like (LFL) basis, the total property value decreased by 1.7 per cent to £2.8 billion against the previous year (2018: £2.8 billion adjusted for the sale of Earls Court interests). The profit before tax from continuing operations for the financial year 2019 decreased by 3 per cent to £8.3 million as compared with the financial year 2018 of £11.3 million.

For the financial year 2019, the equity attributable to owners of the Parent of £2.5 billion recorded a decrease from £2.7 billion in the previous year. Underlying earnings per share stood at 1 pence per share (2018: 0.9 pence per share).

The Board has proposed a final dividend per share of one pence, reflecting a full-year dividend per share of 1.5 pence. In 2019, the total shareholder return stood at 14 per cent.

About Capital & Counties Properties PLC

Capital & Counties Properties PLC (LON: CAPC) is a London-headquartered Real estate investment and services Group which specialises in central London real estate, with two key assets focused on Earls Court and Covent Garden. The company forms a part of the FTSE 250 index. While Earls Court is a large-scale strategic opportunity in central London with the flexibility to evolve with the needs of the Capital, Covent Garden is a leading retail and dining destination and is one of the most vibrant estates in the heart of central London.

Capital & Counties Properties PLC -Stock price performance

Daily Chart as at Feb-27-20, before the market close (Source: Thomson Reuters)

On 27th February 2020, at the time of writing (before market close, GMT 08:38 AM), Capital & Counties Properties PLC’s shares were trading at GBX 218, down by 1.58 per cent against its previous day closing price. Stock's 52 weeks High and Low is GBX 275.00/GBX 181.40. At the time of writing, the share was trading 20.73% lower than its 52w High and 20.18% higher than its 52w low. Stock’s average traded volume for 5 days was 2,102,685.80; 30 days – 2,062,723.30 and 90 days – 2,527,737.54. The average traded volume for 5 days was up by 1.94% as compared to 30 days average traded volume. The company’s stock beta was 1.05, reflecting higher volatility as compared to the benchmark index. The outstanding market capitalisation was around £1.91 billion.

Comment


Disclaimer