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Helical loses £12.7m in six months to Sept
StockMarketWire.com
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Property investor and developer Helical has reported pretax losses of £12.7 million over the six months to 30th September.
In contrast, the firm received a profit of £13.1 million in 2019 over the same period.
However the outlook from Helical's management team is positive and CEO Gerald Kaye insists there is still demand for its office properties despite more people working from home.
He said: 'Our experience of the pandemic has reinforced our view that our investment in multi-let offices in well-located and accessible Grade A buildings, incorporating the latest in sustainable building design, offering state of the art technology with occupier health and well-being at their core, provides the most resilient defence against adversity and the best opportunity for continued growth.
'This has been borne out by our strong rent collection figures and robust portfolio valuation.'
Helical has been able to maintain rent collection and has so far collected 93.2% of all rent payable for the March and June quarters.
Looking ahead the company anticipates it will be able to collect between 91% and 94% of all rent by the end of December.
As a result the company's interim dividend is being maintained at 2.70p per per share.
At 1:39pm: (LON:HLCL) Helical Bar PLC share price was 0p at 407.5p
Story provided by StockMarketWire.com
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