Capco reports loss after merger partner’s share price drops
The share price of Shaftesbury, Capco’s partner in an all-share merger, fell more than 40% in 2022
01 March 2023 - 12:57
UK landlord Capital & Counties’ (Capco’s) profit swung into a loss in its final results before its merger with property group Shaftesbury next week, because of the steep fall in the share price of Shaftesbury in 2022.
The company, valued at R23.58bn on the JSE, saw its profit of £35.5m (R780.2m) from its 2021 financial year to end-December turn into a loss of £218m in its 2022 annual results despite a higher gross profit and net rental income...
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