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Harworth Group PLC on Monday said strong momentum in the current year has left it on track to deliver against its strategy. The Rotherham, South Yorkshire-based land regenerator said it has performed strongly since the start of 2024, though it cautioned that there is still a ‘somewhat uncertain economic backdrop’. Chief Executive Lynda Shillaw said: ‘Strong demand remains for our serviced residential products which provide us with regular funding as we make excellent progress on our industrial & logistics pipeline in the remaining years of our current strategic planning period.’ Harworth said it was on target to hit its £1 billion EPRA net disposal value by the end of 2027. The company said it had completed, exchanged or in heads of terms on 75% of budgeted sales for the current financial year. Harworth remains ‘well capitalised with a conservative balance sheet and strong financial position,’ it added. As at April 30, net debt was £63.1 million, up from £36.4 million at December 31. Shares in Harworth fell 2.6% to 134.00 pence in London on Monday. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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