CLS Holdings

CLS Holdings - AIM

REAL ESTATE

The company is a FTSE 250 property investment company with a £1.9bn portfolio in the UK, Germany and France.  It invests in high-quality office space in non-prime locations in key European cities.  This delivers stable cash flows.  Cost effective premises are supplied to approximately 700 tenants, including leading blue-chip corporations and governments.

Company In Brief

At 22 November 2018

Share Price at time of reporting: 209p

Market capitalisation – £851m

Prospective p/e ratio – 15.6x

Prospective dividend yield – 3.2%

Review

The most recent trading update covered the period from 1 July to 21 November.  In the second half of 2018 there was a ‘robust’ performance across each of the company’s markets in the UK, Germany and France.  Significant lettings have been completed including key properties acquired in 2017, where asset management opportunities were identified at the time of purchase. The level of vacancies has fallen from 5.7% to 4.3%.  The company is confident of delivering results in line with market expectations for the full year.

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