Source - SMW
Harworth Group's net asset value rose to £303.0m (£1.04 per share) in the six months to the end of June - a 10.4% increase from a year ago  (£274.5m/93.9p per share) and 1.8% up from 2015 full year NAV £297.7m (£1.02 per share).

The group said full year financial forecasts are in line with the board's expectations but, as usual, weighted towards the second half.

Other financial highlights:

- EPRA net asset value per share rose to £1.08 per share (H1 2015: 96.8p)

- Operating profit of £8.3m (H1 2015: £9.2m, underlying £14.8m), which reflects a £2.9m impact from 2016 stamp duty changes

- Earnings per share of 0.3p (H1 2015: 2.7p, adjusted 0.5p)

Chief executive  Owen Michaelson  said: "We have progressed well during the first half, seeing continued momentum in the business, which is reflective of the underlying strength of the group. 

"We selectively grew our direct commercial development capabilities, through schemes at Logistics North, the Advanced Manufacturing Park and Gateway 36, as well as making excellent progress with the forward funded M&G development.

"We have continued confidence in the economic potential of the regions in which we operate and the long term market fundamentals remains in place. Our strategy affords us flexibility to manage potential periods of uncertainty. 

"Together with our strong balance sheet, we are robustly positioned to capitalise on new opportunities, both for development and income generation. Based on current market conditions, we expect our full-year performance to be in line with our expectations."

At 8:12am: (LON:HWG) Harworth Group Plc share price was -5.75p at 85.75p

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