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2019 Interim Results
Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)
2019 Interim Results
Raven today announces its unaudited results for the six months ended 30 June 2019
Highlights
- Net operating income of £64.3 million for the six months to 30 June 2019 (30 June 2018: 57.6 million)
- Average occupancy of 90% for the period (30 June 2018: 84%);
- Basic underlying earnings per share 5.31p (30 June 2018: 0.67p);
- IFRS profit for the period of £26.2 million (30 June 2018: loss of £28.8 million);
- Diluted net asset value per share increases by 40% to 67p (31 December 2018: 48p);
- 14.8% of the Company’s ordinary shares purchased for 36p per share and cancelled on 21
August 2019;
- On a proforma basis, this increases net asset value per share by a further 5p;
- Proposed distribution of 1.25p per ordinary share by way of a tender offer buy back of 1 in
44 shares at 55p.
Glyn Hirsch CEO said “We are pleased with these results which reflect steadily improving market
conditions and finally, some currency movements working in our favour.“
INFORMATION REQUIRED TO BE DISCLOSED UNDER THE JSE LISTING RULES
Income Statement for the 6 months ended: 30 June 2019 30 June 2018 Change
Net Rental and Related Income £64.3m £57.6m £6.7m
Operating profit £88.9m £11.7m £77.2m
Headline EPS basic 1.85p (0.36)p 2.21p
Headline EPS diluted 1.84p (0.36)p 2.20p
EPS Basic 4.30p (4.42)p 8.72p
EPS Diluted 3.89p (4.42)p 8.31p
Distribution per share 1.25p 1.25p -
Balance Sheet at: 30 June 2019 31 December 2018 Change
Net Asset Value £396.9m £295.6m £101.3m
Extract from unaudited 2019 Interim Results
This short-form announcement is the responsibility of the Directors of Raven. The information disclosed is
only a summary of the information contained in the full announcement and does not contain full or
complete details. The full unaudited 2019 Interim Results announcement should be considered for any
investment decision. and is available for viewing on the JSE’s website at
https://senspdf.jse.co.za/documents/2019/jse/isse/rave/ravhy2019.pdf and on the Company’s website at
https://www.theravenpropertygroup.com/investors/results-reporting/2019. The full unaudited 2019 Interim
Results announcement is also available for inspection at the Company’s registered office and the offices
of our JSE sponsor during normal business hours, at no charge. Alternatively, copies of the full
announcement may be requested from the Company via email at investorrelations@ravenrussia.com.
27 August 2019
JSE Sponsor: Rencap Securities (Pty) Limited
About Raven Property Group
Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia
and lease to Russian and International tenants. Its Ordinary Shares and preference shares are listed on
the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing
Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have
a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock
Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the
SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow
and Cyprus and has an investment portfolio of circa 1.9 million square metres of Grade "A" warehouses
in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novgorod and 49,000 square metres
of commercial office space in St Petersburg. For further information visit the Company's website:
www.theravenpropertygroup.com
Date: 27/08/2019 08:00:00
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