News blog

Public Service Properties Investments

• BY: Andrew Hore |
• POSTED: 18/04/2013 |

Care home properties investor Public Service Properties Investments has reported a near-halved NAV but the shares are still trading at a 53% discount to that NAV.

The NAV fell from 108.3p a share to 54.9p a share over 2012 following a number of disposals in order to reduce indebtedness. Net debt was £30m at the end of 2012 and the property portfolio has been valued at £84m. The debt level has edged up since the end of 2012.

At 26p a share, up 1.38p, Public Service Properties is valued at £27.4m. The shares price has nearly doubled since the beginning of the year.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf