Property development and investment company Development Securities saw a dip in its share price despite seeing an increase in development activity in the final quarter of 2011 as it moves further into the implementation of our asset-specific business plans.
In a statement the firm said: "We continue to invest selectively the equity from our rights issue in August 2010, in properties with the potential for refurbishment or redevelopment into prime or near prime assets.
"To date, we have invested close to £160m of the net £188m of equity raised in over 40 deals representing total asset value of over £340m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Good progress has been made on the execution of the business plans relating to these individual assets."
As at 31 December 2011, net debt stood at £192.3m, compared to £92.2m at the same day a year ago.
NR
-
RICS: Housing market continues to strengthen but 2025 could be challengingThe latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrencyAccording to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
