U and I year-to-date gains reach £40m after Hammersmith Grove sale
Source - SMW
U and I Group said it had realised profits at the upper end of guidance of £9m-to-£11m on the sale of a property at 12 Hammersmith Grove by Aberdeen Standard Investments.
The deal brought total year-to-date gains to more than £40m, the company said.
The company said its joint venture residential scheme in the borough of Kensington and Chelsea had not received planning consent.
The venture was currently reviewing its options post the decision as it sougth to realise value from the scheme.
'This delay has no impact on the full year guidance and U+I continues towards its target of delivering £65-70m of trading and development gains for the year ending 28 February 2018,' the company said.
At 2:28pm: (LON:UAI) U and I Group Plc share price was +2.5p at 199.3p