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Daejan Holdings PLC

Daejan Holdings PLC Preliminary Results

Daejan Holdings PLC (LON:DJAN) Chairman, Mr B S E Freshwater, today announced Preliminary Results for the year to 31 March 2019.

The financial highlights for the year ended 31 March 2019 are as follows:

 2019 2018 
 £000 £000 
     
Investment property2,532,518 2,373,184 
Properties held for sale70,997  
Net rental and related income from investment property76,581 66,478     
Profit before taxation137,832 201,262 
Income taxProfit for the yearTotal equity(17,853)119,9791,940,521 1,696202,9581,812,993 
Equity shareholders’ funds per share£119.07 £111.25 
Earnings per share£7.36 £12.45 
     
     

·   The revaluation of the investment property portfolio at the year end has resulted in a net valuation surplus for the year of £83,928,000 (2018 – £146,438,000).

·    Rental and related income from investment property has increased in the year by 9.3% (2018 – 1.5%) The increase has principally been driven in the UK by the completion of the Travelodge hotel and other developments. In the USA the main factor has been the acquisition of three new residential properties at a total cost of $98 million.

·    The Board has recommended a final dividend of 71p per share in respect of the year ended 31 March 2019 payable on 1 November 2019 to shareholders on the register on 4 October 2019. This will make a total dividend for the year of 106p (2018 – 103p).

·   Earnings per share is calculated by reference to profit on ordinary activities after taxation attributable to equity holders of the parent of £119,893,000 (2018 – £202,889,000) and 16,295,357 (2018 – 16,295,357) ordinary shares being the weighted average number of ordinary shares in issue during the year. Equity shareholders’ funds per share is calculated by reference to total equity attributable to equity holders of the parent of £1,940,354,000 (2018 – £1,812,902,000) and the ordinary shares detailed above.