Daejan Holdings plc (DJAN)

The revaluation of the investment property portfolio at the year end has resulted in a net valuation surplus for the year of £144,508,000 (2016 - £117,947,000). The board has recommended a final dividend of 63p per share in respect of the year ended 31 March 2017 payable on 10 November 2017 to shareholders on the register on 13 October 2017.  This will make a total dividend for the year of 98p (2016 - 93p).

The profit before tax for the period was £58.9 million (2014: £135.5 million) after accounting for the net valuation gain on investment properties of £35.5 million (2014: £107.9 million).

The Chairman, Mr B S E Freshwater, today announced Preliminary Results for the year to 31 March 2015.

The profit before tax for the period was £134.5 million (2013: £76.5 million) after accounting for the net valuation gain on investment properties of £107.9 million (2013: £47.7 million) and fair value losses on financial instruments of £0.6 million (2013: £8.5 million gains). There was an increase of £10.6 million (21.6%) in gross rental income and the underlying net profit before tax, i.e. excluding net valuation movements, was £27.3 million (2013: £20.4 million). Gross rental income and underlying profit before tax both benefited from the one-off impact of the settlement of a significant contested rent review, referred to below.

The revaluation of the investment property portfolio at the year end has resulted in a net valuation surplus for the year of £82,694,000 (2012 - £15,683,000). The board is pleased to recommend a final dividend of 54p per share in respect of the year ended 31 March 2013 payable on 8 November 2013 to shareholders on the register on 11 October 2013. This will make a total dividend for the year of 79p (2012 – 76p).