Segro plc (LON: SGRO) said on Friday that its full-year pre-tax profit jumped 62% in 2020 due to increased property valuations. The company also relaunched its sustainability plan on Friday.
Segro shares opened about 1.5% up on Friday and gained another 2% in the next hour. The stock is now trading at £9.87 per share versus £6.59 per share in March 2020. The price action should come in handy if you’re interested in investing in the stock market.
Segro plc reports £902 million of pre-tax profit in 2020
Segro said that its profit before tax printed at £1.46 billion in 2020 versus £902 million in the previous year. Excluding non-recurring and exceptional items, its pre-tax profit on an adjusted basis came in at £296.5 million versus the year-ago figure of a lower £267.5 million.
The real estate investment trust valued its revenue in the recently concluded year at £431.7 million. Its revenue stood at a slightly higher £432.5 million last year. At 814 pence per share, EPRA net asset value as of 31st December was also higher than 700 pence per share at the same time last year.
Segro’s board also decided in favour of lifting the final dividend on Friday to 15.2 pence per share that pushed its full-year pay-out up to 22.1 pence per share. In 2019, the property investment and development company had made 20.7 pence per share of full-year payment. Segro’s financial report comes a week after its peer, Redrow said that its profit climbed 11% in the fiscal first half.
Segro relaunches ‘Responsible Segro Framework’ on Friday
As part of its “Responsible Segro Framework” sustainability plan that it relaunched on Friday, Segro said that
