CLS Holdings announce an interim dividend of 1.30 pence per share (30 June 2024: 2.60 pence per share), so as to retain cash to invest in the portfolio and in line with new dividend policy announced in April 2025, to be paid on 2 October 2025
Other financial highlights include:
EPRA NTA down 2.6% primarily as a result of property valuation declines of 1.6% in local currencies with some offset from a 3.6% weakening of Sterling against the Euro
Portfolio valuation down 1.6% in local currencies and 0.9% down excluding Spring Gardens as values bottom out in all three countries. Yield expansion and higher vacancies resulted in valuation decreases of 2.2% in the UK, 0.5% in Germany and 3.5% in France in local currencies
Loss after tax of £24.4 million (30 June 2024: £61.1 million) principally due to valuation declines on investment properties of £32.3 million (30 June 2024: £82.8 million decline) partly offset by underlying results
EPRA EPS down 16.7% to 4.0 pence per share due to lower rental income from sales and expiries, partly offset by lower net finance expense from reduced debt levels and borrowing costs. Statutory EPS of (6.1) pence per share reflects valuation declines for the portfolio
Cost reduction programme implemented with targeted annual savings of over £2 million
