Capital & Regional is a UK retail-focused property company listed on the JSE and the London Stock Exchange. The portfolio comprises eight dominant, in-town community shopping centres located across the UK valued at £1bn.Capital & Regional delivered strong results for the full year to end-December 2016 with a 12% increase in adjusted profit to £27m owing to net rental income growth of 7% and lower funding costs. Due to the increase in adjusted profit, Capital & Regional declared a dividend per share of 3.39p representing an 8.7% increase. Occupancy was negatively affected during the period by the administration of retail group BHS, which resulted in like-for-like occupancy declining from 97% to 95%. BHS accounted for £1.3m of contracted rent and over 70% of the income loss has already been recovered through new lettings, which has already been concluded. Capital & Regional has spent £21m on its capex programme during 2016, with key projects being delivered — including a new gym in Bl...
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