Picton Property Income Ltd (PCTN)

Sector:

Real Estate

Index:

FTSE Small Cap

77.50p
   
  • Change Today:
    -0.20p
  • 52 Week High: 78.00
  • 52 Week Low: 59.70
  • Currency: UK Pounds
  • Shares Issued: 529.94m
  • Volume: 1,077,852
  • Market Cap: £410.70m

Picton nearly doubles first half profits

By Iain Gilbert

Date: Tuesday 14 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Guernsey-based investment firm Picton Property Income almost doubled its profit after tax in the first half of its trading year, increasing its net asset value 5% in the process.
Picton increased its profit after tax to £30.7m in the six months leading to 30 September, a 95% increase on the £15.7m it posted a year earlier.

The firm generated earnings of 5.7p per ordinary share over the period as net assets rose £22m to £464m at the end of the period, creating a total return of 7.1% for the half.

During the period, Picton drewdown £12.5m from its two credit facilities, partly to fund the £23.2m acquisition of its new Bristol asset, Tower Wharf, and extended the maturity date of one of those revolving credit lines from 2018 to 2021.

Picton paid dividends of £9.2m, or 1.7% per share, to shareholders during the half and, on Tuesday, announced an increase of 3% to 3.5p per share to its annual dividend.

Michael Morris, chief executive of Picton Capital, said, "Strong performance from the industrial and logistics sector in particular, contributed to NAV growth, along with the disposal of two non-core assets."

"With our recent Bristol acquisition there is £6 million of reversionary potential in the portfolio and we believe that capturing this is key to driving income and valuation growth in the short to medium term," he added.

As of 1130 GMT, shares had gained 0.87% to 86.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PCTN Market Data

Currency UK Pounds
Share Price 77.50p
Change Today -0.20p
% Change -0.26 %
52 Week High 78.00
52 Week Low 59.70
Volume 1,077,852
Shares Issued 529.94m
Market Cap £410.70m

PCTN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.78% below the market average37.78% below the market average37.78% below the market average37.78% below the market average37.78% below the market average
70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average
Price Trend
59.40% above the market average59.40% above the market average59.40% above the market average59.40% above the market average59.40% above the market average
72.22% above the sector average72.22% above the sector average72.22% above the sector average72.22% above the sector average72.22% above the sector average
Income
40.82% above the market average40.82% above the market average40.82% above the market average40.82% above the market average40.82% above the market average
28.00% above the sector average28.00% above the sector average28.00% above the sector average28.00% above the sector average28.00% above the sector average
Growth
31.61% below the market average31.61% below the market average31.61% below the market average31.61% below the market average31.61% below the market average
3.03% below the sector average3.03% below the sector average3.03% below the sector average3.03% below the sector average3.03% below the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PCTN Dividends

  Latest Previous
  Q4 Q3
Ex-Div 15-May-25 06-Feb-25
Paid 30-May-25 28-Feb-25
Amount 0.93p 0.93p

Trades for 30-May-2025

Time Volume / Share Price
16:35 341,646 @ 77.50p
16:35 3,301 @ 77.50p
16:35 3,669 @ 77.50p
16:35 261 @ 77.50p
16:35 1,230 @ 77.50p

PCTN Key Personnel

CEO Michael Morris
CFO Saira Johnston

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