Half Year 2020 Great Portland Estates PLC Earnings Call Transcript

Nov 14, 2019 / 09:00AM GMT
Toby Courtauld - Great Portland Estates Plc - CEO & Director

Good morning, everybody. It's a rare privilege to be able to say that we're sitting down early. We're normally late for this. So thank you very much for taking your seats so promptly.

As ever, we're going to have a full presentation for you this morning. There's lots of good material in here. There are some important facts and themes that we want to get across to you, and I'm going to be supported ably by the senior management team this morning. We're then going to have a Q&A session as ever, and we can dig into some of the detail that you want to ask us about later on.

But let me, first of all, start with our overview. And once more, despite the unsettled political and economic environment, we are pleased with these good positive results.

Our valuation was up 0.8% for the half, driven by our developments up 6% and ERVs up 1%. We generated a total property return of 2.7%, beating MSCI's Central London quarterly index by 0.9 percentage points.

NAV per share was up by 1.8%, and we're paying a higher

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