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Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

105.10GBp
22 Mar 2019
Change (% chg)

0.55 (+0.53%)
Prev Close
104.55
Open
105.50
Day's High
107.65
Day's Low
104.40
Volume
3,045,837
Avg. Vol
4,322,701
52-wk High
220.00
52-wk Low
100.94

Latest Key Developments (Source: Significant Developments)

Intu Properties FY Revenue 581.1 Mln Stg Vs 616 Mln Stg Reported A Year Earlier
Wednesday, 20 Feb 2019 

Feb 20 (Reuters) - Intu Properties PLC ::HAD CHALLENGING YEAR WITH DIFFICULT RETAIL & UNCERTAIN ECONOMIC ENVIRONMENT WITH RESPONDING TO 2 ABORTIVE CORPORATE OFFERS FOR CO.FY LIKE-FOR-LIKE NET RENTAL INCOME GROWTH OF 0.6 PER CENT (£2.3 MILLION).FY NAV PER SHARE (DILUTED, ADJUSTED) 312P.HAS HAD A CHALLENGING YEAR WITH DIFFICULT RETAIL, UNCERTAIN ECONOMIC ENVIRONMENT, WITH RESPONDING TO TWO ABORTIVE CORPORATE OFFERS.LOOK TO CONTINUE OUR STRATEGY OF ADAPTING TO THE CHANGING RETAIL ENVIRONMENT AND TO MAKE SMART USE OF CAPITAL.PROPOSE TO REDUCE OUR DEBT TO ASSETS RATIO OVER TIME BACK BELOW 50 PER CENT BY FURTHER DISPOSALS AND PART-DISPOSALS.RETAINING FOR TIME BEING CASH GENERATED BY ACTIVITIES RATHER THAN DISTRIBUTING IT AS DIVIDEND WITH NO FINAL DIVIDEND FOR 2018.LOOK TO RETAIN CASH GENERATED BY ACTIVITIES RATHER THAN DISTRIBUTING IT AS DIVIDEND.DIFFICULT YEAR FOR THE WHOLE UK RETAIL REAL ESTATE SECTOR.ACTIVELY PURSUING COMPLEMENTARY NON-RETAIL DEVELOPMENT ALTERNATIVES.WITH VERY LIMITED COMPARABLE TRANSACTIONAL EVIDENCE, PROPERTY VALUATIONS DECLINED AS SENTIMENT WEAKENED SIGNIFICANTLY.EPRA NNNAV AT THE END OF YEAR WAS 271P PER SHARE, DOWN FROM 349P THE YEAR BEFORE.2019 STRATEGY INCLUDES DISPOSAL AND PART-DISPOSAL OF CENTRES WHICH DO NOT MEET OUR WINNING DESTINATION CRITERIA OVER MEDIUM TERM.ANTICIPATE 2019 FY CHANGE IN LIKE-FOR-LIKE NET RENTAL INCOME, INCLUDING THE IMPACT OF HOUSE OF FRASER, TO BE DOWN BY 1 TO 2 PERCENT.  Full Article

Intu Properties Gives Whittaker-led Consortium Until Mid-Nov To Bid
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Intu Properties PLC ::STATEMENT RE POSSIBLE OFFER.BOARD OF INTU REQUESTED THAT PANEL EXTEND DEADLINE REFERRED TO ABOVE WITH RESPECT TO CONSORTIUM.CONSORTIUM IS REQUIRED, BY NOT LATER THAN ON NOV 1, TO EITHER ANNOUNCE A FIRM INTENTION TO MAKE AN OFFER FOR INTU OR WALK AWAY.AFTER REQUEST FROM CONSORTIUM TO EXTEND DEADLINE TO ENABLE CONTINUED DISCUSSIONS, INTU REQUESTED PANEL EXTEND DEADLINE.EXTENSION HAS BEEN GRANTED BY PANEL AND OFFER DEADLINE NOW EXTENDED TO NOV 15.  Full Article

Intu Properties Sees FY LFL Net Rental Income To Be Flat To Up 1 Pct
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - Intu Properties PLC ::SIGNING 84 LONG-TERM LEASES FOR PERIOD FROM 1 JULY 2018 TO 23 OCTOBER 2018.ANTICIPATED FULL YEAR LIKE-FOR-LIKE NET RENTAL INCOME GROWTH TO BE IN RANGE OF 0 PER CENT TO 1 PER CENT.NAVPS (DILUTED, ADJUSTED) OF 344 PENCE FOR PERIOD FROM 1 JULY 2018 TO 23 OCTOBER 2018.OCCUPANCY AT 30 SEPTEMBER WAS 97.0 PER CENT, A 0.4 PER CENT IMPROVEMENT ON JUNE 2018 AND 0.4 PER CENT AHEAD OF SEPTEMBER 2017.  Full Article

Intu Confirms Deal Proposals From Consortium
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Intu Properties PLC ::SAYS STATEMENT RE POSSIBLE OFFER.SAYS STATEMENT RE POSSIBLE OFFER AT 210.4 PENCE PER SHARE.SAYS CONFIRMS THAT ON 11 OCTOBER 2018 IT RECEIVED AN INDICATIVE PROPOSAL FROM CONSORTIUM OF 205 PENCE PER SHARE IN CASH.SAYS IN ORDER TO ADVANCE TALKS REGARDING FIRM OFFER, INDEPENDENT COMMITTEE RESOLVED TO GRANT CONSORTIUM ACCESS TO SOME DUE DILIGENCE MATERIALS.SAYS ON 17 OCT. GOT REVISED INDICATIVE PROPOSAL FROM CONSORTIUM OF 215 PENCE PER SHARE IN CASH, SUBJECT TO ADJUSTMENT FOR DIVIDENDS.SAYS SHOULD ANY OFFER ON TERMS OF REVISED INDICATIVE PROPOSAL BE FORTHCOMING, CONSIDERATION WOULD BE 210.4 PENCE PER SHARE.SAYS SHOULD ANY OFFER ON TERMS OF REVISED INDICATIVE PROPOSAL BE FORTHCOMING, CONSIDERATION MAY BE REDUCED MORE BY ANY OTHER DIVIDENDS/DISTRIBUTIONS.  Full Article

Intu Says Co Has Not Received An Approach From Consortium
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - Intu Properties PLC ::STATEMENT RE POSSIBLE OFFER.INTU CONFIRMS THAT IT HAS NOT RECEIVED AN APPROACH FROM CONSORTIUM.FORMED AN INDEPENDENT COMMITTEE COMPRISING ALL DIRECTORS OF INTU OTHER THAN JOHN WHITTAKER, WHO IS CONNECTED TO CONSORTIUM.INDEPENDENT COMMITTEE WILL CONSIDER ANY APPROACH FROM CONSORTIUM, IF MADE.  Full Article

Brookfield Property Says Consortium Considering Cash offer Of Intu Not Owned By It
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - BROOKFIELD PROPERTY GROUP::PEEL, OLAYAN, BROOKFIELD PROPERTY CONFIRM THAT CONSORTIUM IS IN PRELIMINARY STAGES OF CONSIDERING A POSSIBLE CASH OFFER FOR INTU.CONSORTIUM'S CONSIDERATION OF POSSIBLE OFFER IS AT PRELIMINARY & EXPLORATORY STAGE, NO APPROACH HAS BEEN MADE TO BOARD OF INTU..CONSORTIUM REQUIRED, BY NOT LATER THAN 5PM ON NOV 1 TO GIVE FIRM INTENTION TO MAKE OFFER FOR SHARES NOT ALREADY OWNED IN INTU.NO CERTAINTY TRANSACTION WILL ULTIMATELY BE FORTHCOMING, NOR ANY CERTAINTY AS TO TERMS OF ANY SUCH TRANSACTION..  Full Article

Intu Properties Says Regards Explanations Given By Hammerson For Its Withdrawal Of Recommendation As "Unsatisfactory"
Wednesday, 18 Apr 2018 

April 18 (Reuters) - Intu Properties Plc ::NOTES ANNOUNCEMENT ISSUED BY BOARD OF HAMMERSON."INTU IS ENTIRELY CONFIDENT OF INTU'S COMMERCIAL FUTURE AND PROSPECTS".REGARDS AS "UNSATISFACTORY" EXPLANATIONS GIVEN BY BOARD OF HAMMERSON FOR ITS WITHDRAWAL OF ITS RECOMMENDATION.BOARD OF INTU WILL BE MEETING TO CONSIDER HAMMERSON'S REQUEST NOT TO CONVENE A SHAREHOLDERS' MEETING TO VOTE ON INTU TRANSACTION.  Full Article

Intu Says Planning To Invest Over 560 Mln Stg In UK Centres Over Next 3Yrs
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Intu Properties PLC ::CONTINUE TO SEE GROWTH OPPORTUNITIES FOR £10 BILLION UK PORTFOLIO.HAVE A SUBSTANTIAL ONGOING INVESTMENT PROGRAMME THAT WILL SEE US OPEN £180 MILLION EXTENSION AT INTU WATFORD LATER THIS YEAR.ALSO PLANNING TO INVEST OVER £560 MILLION IN UK CENTRES OVER NEXT THREE YEARS.ANTICIPATED GROWTH IN LIKE-FOR-LIKE NET RENTAL INCOME FOR YEAR CONTINUES TO BE IN RANGE OF 1.5 PER CENT TO 2.5 PERCENT.£180 MILLION INTU WATFORD EXTENSION ON TARGET TO OPEN IN OCTOBER 2018 AND ANCHORED BY DEBENHAMS AND CINEWORLD.FOR PERIOD 1 JANUARY 2018 TO 17 APRIL 2018 SUSTAINED HIGH OCCUPANCY OF 96.1 PER CENT (MARCH 2017: 95.8 PERCENT), UNCHANGED FROM DEC 2017.EXPECT TO DELIVER MEDIUM TERM LIKE-FOR-LIKE NET RENTAL INCOME GROWTH OF 2 TO 3 PER CENT PER ANNUM, OVER NEXT THREE TO FIVE YEARS.  Full Article

Hammerson Says Estimated EPRA NAVPS of 790p at March 31
Thursday, 5 Apr 2018 

April 5 (Reuters) - Hammerson Plc ::HAMMERSON Q1 2018 BUSINESS UPDATE.ESTIMATED EPRA NAVPS OF 790P1 AT 31 MARCH 2018, UP 1.8% IN QUARTER.STRONG LEASING MOMENTUM ACROSS UK, FRANCE AND IRELAND FOLLOWING RECORD ACTIVITY IN 2017.ON TRACK WITH OUR DISPOSAL PROGRAMME..RECOGNISE DIFFICULT TRADING ENVIRONMENT FELT BY MANY RETAIL AND RESTAURANT FORMATS IN UK, CONTINUES TO BE GOOD DEMAND FOR SPACE ACROSS CENTRES.WHILE KLÉPIERRE'S POSITION REMAINS UNCLEAR, BOARD DOES NOT INTEND TO FINALISE SHAREHOLDER DOCUMENTS IN RELATION TO PROPOSED ACQUISITION OF INTU.PUSU DEADLINE FOR KLÉPIERRE IS 16 APRIL 2018..BUSINESS IS ON TRACK TO DISPOSE OF PROPERTIES OF AT LEAST £500 MILLION IN 2018..‍ESTIMATED NET DEBT OF £3.4 BILLION AT 31 MARCH 2018​.  Full Article

Intu Properties Plc and Lasalle Investment Management creates JV to own Intu Chapelfield ​
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - INTU PROPERTIES PLC :‍INTU PROPERTIES PLC AND LASALLE INVESTMENT MANAGEMENT ANNOUNCE CREATION OF A JOINT VENTURE TO OWN INTU CHAPELFIELD​.‍LASALLE WILL ACQUIRE A 50 PER CENT INTEREST IN PROPERTY FOR NET CONSIDERATION OF £148 MILLION​.‍INTU WILL CONTINUE TO MANAGE CENTRE ON BEHALF OF JOINT VENTURE​.  Full Article