Mucklow shares fall as NAV drops
Property investor and developer, A and J Mucklow, has seen a sharp decline in its shares after reporting a 2.3 percent drop in its net asset value (NAV).
Property investor and developer, A and J Mucklow, has seen a sharp decline in its shares after reporting a 2.3 percent drop in its net asset value (NAV).
Mucklow's basic NAV fell from £188.6m in June 2011 to £184.3m by the end of December.
Apart from the NAV fall, other metrics look reasonable, with underlying pre-tax profits rising from £5.7m in the second half of 2010 to £6.8m in the equivalent period of 2011.
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
Occupancy rates improved to 93.5% by the year's end from 92.7% at the half way stage in 2011.
Rupert Mucklow, Mucklow's Chairman commented: "I am pleased to report good progress being made in the first six months of our financial year, with a 19% improvement in underlying pre-tax profit and a 3% increase in the interim dividend."
The dividend boost amounted to a rise of 0.25p per share to 8.52p.
It wasn't enough to prevent a share price fall of 8.3% by midday though. Nevertheless, over the last 12 months Mucklow is still ahead by 9%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed
-
How to get a guaranteed income in retirement
Savers want certainty in retirement, with almost two-fifths naming guaranteed income as their main priority. An annuity can achieve this – but what other income options are available to supplement it?