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Last 840.50 GBp
Change Today -3.50 / -0.41%
Volume 78.8K
WKP On Other Exchanges
Symbol
Exchange
London
Frankfurt
As of 11:35 AM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

workspace group plc (WKP) Snapshot

Open
841.50 GBp
Previous Close
844.00 GBp
Day High
846.00 GBp
Day Low
830.00 GBp
52 Week High
03/20/15 - 916.00 GBp
52 Week Low
06/18/14 - 542.00 GBp
Market Cap
1.4B
Average Volume 10 Days
127.2K
EPS TTM
2.10 GBp
Shares Outstanding
161.1M
EX-Date
01/8/15
P/E TM
4.0x
Dividend
10.98 GBp
Dividend Yield
1.31%
Current Stock Chart for WORKSPACE GROUP PLC (WKP)

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workspace group plc (WKP) Details

Workspace Group PLC, a real estate investment trust (REIT), engages in property investment in the form of letting of business accommodation to small and medium sized enterprises in London and the South East of England. It offers space for serviced offices, offices, studios, workshops, and light industrial units. The company owns 100 estates, comprising approximately 5.77 million square feet, and provides accommodation for 4,000 small businesses in London and the South East. It has a joint venture with Workspace Glebe Limited, which engages in property investment. The company has elected to be treated as a REIT for federal income tax purposes and would not be subject to income tax, if it distributes at least 90 % of its REIT taxable income to its share holders. Workspace Group PLC, formerly known as London Industrial PLC, was founded in 1987 and is headquartered in London, the United Kingdom.

182 Employees
Last Reported Date: 06/14/14
Founded in 1987

workspace group plc (WKP) Top Compensated Officers

Chief Executive and Executive Director
Total Annual Compensation: 888.3K GBP
Chief Financial Officer and Executive Directo...
Total Annual Compensation: 555.2K GBP
Compensation as of Fiscal Year 2014.

workspace group plc (WKP) Key Developments

Workspace Group plc Announces Interim Management Results for the Third Quarter and Nine Months Ended December 31, 2014

Workspace Group plc announced interim management results for the third quarter and nine months ended December 31, 2014. For the quarter, the company total rent roll up £3.1 million, 5.1% in the quarter to £64.4 million. Like-for-like rent roll up £2.6 million, 6.2% in the quarter to £44.7 million. For the nine months, the company reported total rent roll up £6.1 million, 10.5% over the nine months from 31 March 2014. Like-for-like rent roll up £5.2 million, 13.2% from 31 March 2014. Like-for-like occupancy at 92.6% up from 90.6% at 30 September 2014 and 91.4% at 31 March 2014.

Workspace Group Acquires Two London Properties

Workspace Group has spent £31.4 million on the acquisition of two London properties. The group has bought Edinburgh House for £25.3 million and Peer House for £6.1 million. Edinburgh House in Kennington, is close to Oval and Kennington Underground stations, the Vauxhall transport hub on London's South Bank, and Workspace's existing cluster of properties in this area. Originally constructed in the 1970's and fully refurbished in 2004, the office building is held on a long leasehold, with 76 years unexpired, from the Duchy of Cornwall. The building extends over basement, ground and four upper floors, has a net internal area of 68,300 sq ft and is let in its entirety to the Metropolitan Police Authority until 2030, at a rent of £22/sq ft. There is a tenant break in 2020, and a rent review due in 2015, with discussions over the tenant's future occupational plans ongoing. The property is being acquired at a yield of 5.2% and at a capital value of £370/sq ft. Peer House adjoins Workspace's existing property at 60 Gray's Inn Road. It is a 10,080 sq ft office building arranged over basement, ground and four upper floors and is currently fully let to five tenants off low rents of £21/sq ft with an average unexpired lease term of 2.7 years.

Workspace Group plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2014

Workspace Group plc announced unaudited consolidated earnings results for the six months ended September 30, 2014. For the period, the company announced revenue of GBP 40.3 million compared to GBP 35.7 million for the same period a year ago. Operating profit was GBP 177.2 million compared to GBP 115.9 million for the same period a year ago. Profit before tax was GBP 173.7 million compared to GBP 107.8 million for the same period a year ago. Profit for the period after tax was GBP 173.7 million compared to GBP 107.8 million for the same period a year ago. Profit attributable to owners of the parent company was GBP 164.7 million compared to GBP 100.8 million for the same period a year ago. Diluted earnings per share were 111.4 pence compared to 68.4 pence for the same period a year ago. Net cash inflow from operating activities was GBP 14.1 million compared to GBP 10.6 million for the same period a year ago. Capital expenditure on investment properties was GBP 16.1 million compared to GBP 13.4 million for the same period a year ago. Purchase of property, plant and equipment was GBP 0.2 million compared to GBP 0.4 million for the same period a year ago. Net debt as on September 30, 2014 was GBP 330.8 million compared to GBP 324.2 million as on September 30, 2013.

 

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Industry Analysis

WKP

Industry Average

Valuation WKP Industry Range
Price/Earnings 3.8x
Price/Sales 13.1x
Price/Book 1.3x
Price/Cash Flow 4.1x
TEV/Sales 14.4x
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