News blog
CareCapital Group
- BY: Andrew Hore |
- POSTED: 01/10/2009 |
Healthcare properties developer CareCapital Group continues to trade at a valuation that is less than one-quarter of its net asset value.
The diluted net asset value, excluding deferred tax on revaluations, has fallen from 22.5p to 18.5p a share at the end of June 2009.
At 5p a share, CareCapital is valued at £3.84m.
The development pipeline has a value of between £8m and £11.1m. That would add at least 10p a share to NAV.
The existing UK properties have been valued at £23m and the German properties at €26.6m. The tenants of the dental development in Folkestone have found it difficult to meet their commitments under the lease. CareCapital is seeking compensation and alternative tenants. The valuation of the UK properties excludes Folkestone.
Rental income increased from £1.31m to £1.6m in the six months to June 2009. A profit of £20,000 in the first half of 2008 has turned into a loss of £880,000 in the first half of 2009.
New Solera Holdings Ltd BVI has sold its 5% stake over the past two months.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|