Develop North PLC - formerly known as TOC Property Backed Lending Trust PLC - Net asset value total return 0.2% in six months to May 31, with net asset value falling to 83.1 pence from 83.9p. Over same period, Association of Investment Companies’ ‘Property-Debt’ sector records total return decline of 1.2% while AIC’s ‘Debt-Loans’ sector records growth of 2.7%. ‘We now see building sites coming to life, cranes moving, old projects re-starting and new schemes being placed on the drawing board. Under its much more dynamic and appropriate new name of Develop North PLC, the company stands ready to move on to the next phase of its life,’ it says.
Current stock price: 86.00p
12-month change: flat
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