News blog

West Pioneer Properties Ltd

  • BY: Andrew Hore |
  • POSTED: 04/07/2012 |

Indian shopping centres developer West Pioneer Properties Ltd says that revenues and profit will be well below expectations in the year to March 2012 because a number of economic factors.

The share price fell 5.25p to 8.25p, valuing West Pioneer at £6.6m. Net asset value was $61.6m at the end of September 2011 and although this figure will be lower at the end of March 2012 it will still be much higher than the market capitalisation of the company.

India is not growing as fast as hoped and trading conditions have deteriorated. The discount rate has been increased from 13% to 14% and this will lead to a reduction in the book value of the company’s investment properties. The depreciation of the Rupee against the dollar will also knock the reported net asset figure.

Shore Capital was appointed nominated adviser and broker during April.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf

© 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 This material may not be published, broadcast, rewritten or redistributed.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

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds