Shaftesbury Capital posts 8pc rise in underlying earnings

(Sharecast News) - Shaftesbury Capital reported an 8% rise in underlying earnings to £44.0m for the first half on Wednesday, or 2.4p per share, as strong leasing activity and rental growth supported an increase in the value of its West End portfolio. Profit attributable to owners rose to £193.8m from £151.6m, while EPRA net tangible assets per share increased 3.9% from the end of 2025 to 223.1p.

The FTSE 250 company's property portfolio under management was valued at £5.62bn, up 3.4% on a like-for-like basis, while estimated rental value rose 3.8% to £281.1m. The interim dividend was increased 16% to 2.2p per share.

It completed 226 leasing transactions worth £23.2m, 4.9% ahead of December 2025 estimated rental value and 18.4% above previous passing rents, while just 2.6% of portfolio ERV was available to let.

EPRA loan-to-value fell to 16.1% from 16.8% at year-end.

"Despite broader market uncertainty, our prime West End portfolio continues to deliver high footfall, customer sales growth, high occupancy and a strong pipeline," said chief executive Ian Hawksworth.

"We have significant growth potential across our portfolio and supported by our strong balance sheet, we are well-positioned to pursue expansion opportunities and capitalise on market opportunities as they arise."

At 1146 BST, shares in Shaftesbury Capital were down 1.03% at 144.5p.

Reporting by Josh White for Sharecast.com.

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