Derwent London PLC (LSE:DLN)
£ 22.04 -0.08 (-0.36%) Market Cap: 2.47 Bil Enterprise Value: 3.83 Bil PE Ratio: 0 PB Ratio: 0.70 GF Score: 67/100
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Half Year 2021 Derwent London PLC Earnings Call Transcript

Aug 10, 2021 / 08:30AM GMT
Release Date Price: £37.72 (+1.64%)
Paul Malcolm Williams
Derwent London Plc - CEO & Director

Good morning, and I hope you and your families are all well. Thank you for listening to Derwent London's Half Year Results Presentation 2021. I'm sorry we could not hold it in person. This will be a recorded presentation. And I'm joined by Damian Wisniewski, our CFO; Nigel George; David Silverman; and Emily Prideaux. We will then open up the lines for Q&A.

At the time of our previous results in March, the Prime Minister's road map has just been published, which boosted confidence, although we remain in lockdown. Such confidence has continued to improve. Derwent's businesses have proved resilient and adapted looking to a new normal. Our office rent collection is almost back to pre-COVID levels. Our recent letting activity is improving and our vacancy rate remains low. The Central London office market appears to be stabilizing with rents before at a higher end of our expectations, particularly for Tier 1 properties with investment demand remaining strong. With this in mind and subject to land and avoiding a further lockdown, we are

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