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 2022 Derwent London PLC Earnings Call Transcript

Aug 11, 2022 / 08:30AM GMT
Release Date Price: £26.98 (-2.25%)
Paul Malcolm Williams
Derwent London Plc - CEO & Director

Well, good morning, everybody, another lovely day. Welcome to Derwent London's interim results presentation. Today, you will also hear from Emily, Damian and Nigel. I will then wrap up before Q&A.

So introduction and guidance. First of all, London has got its buzz back. The flight to quality is ongoing, with businesses recognizing the important role office play in retaining and attracting talent. Grade A buildings are in short supply, and following a wait-and-see approach during COVID, large occupiers have reengaged and continue to enter into early pre-let discussions.

While the outlook has become more difficult, Derwent has a differentiated product that puts our customers first. This has contributed to our preletting successes at 80 Charlotte Street, Soho Place or Francis House. New leases, including our recently completed Featherstone, were agreed at more than 9% above ERV. The business remains very active. In addition to increasing our pipeline with the acquisitions in future supersites, we completed developments at

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