No. of Recommendations: 5
https://www.investegate.co.uk/announcement/rns/uni...The top part of the page is AI autogenerated stuff, skip down to PRESS RELEASE for the official company trading update.
My own summary...
- Had hedged energy costs for years in advance so unaffected by energy prices.
- Had hedged debt costs for years in advance so unaffected by interest rate moves (other than repricing of book value of properties / yield expansion).
- Seeking approval to buy back up to 15% of the company.
- Operations / lettings in line with where they expected.
- Effect of new laws on letting property generally positive for PBSA.
- They have not sold the stuff they are trying to sell yet. Not so good!
- "Our planned disposals include a portfolio of c.7,000 beds in exit cities and lower-growth locations for which we have seen strong initial interest from investors"
which sounds nice, but I would assume that initial interest has been tempered by the sudden shift in interest rates / economic uncertainty thanks to Mr Trump...
TRS
PS. I will be away for a while. See you all in a few weeks!
