Harworth net asset value up 5% to £489m

Harworth Group CEO Lynda Shillaw

Rotherham-based property and land regeneration firm Harworth Group said on Tuesday its net asset value rose about 5% to £488.7 million and operating profit rose 14.4% to £27.8 million.

Harworth is recommending a final dividend per share of 1.466p “reflecting underlying growth of 10% and supplemented to reflect the cancellation of the 2019 final dividend at the start of the pandemic, demonstrating the board’s confidence in the business.”

Harworth CEO Lynda Shillaw said: “Our results for 2020 give us great confidence in the strength and resilience of our underlying business and our ability to grow and prosper, despite the disruption caused by COVID-19.

“I was delighted to join Harworth as chief executive in November and I am excited to be leading the business through its next phase of growth.

“During 2020 we again benefitted from the expertise of our specialist and highly experienced teams, a long track-record of building and developing a high quality strategic landbank, and an unrivalled focus on creating places where people want to live and work.

“Demand for our serviced land has remained strong and we continue to see this in the first few months of 2021 as we also make progress across the portfolio and explore potential acquisitions.

“Together with our strong balance sheet and opportunities in our core residential and logistics sectors, we are very well-placed to trade successfully through the pandemic and play a key role in delivering the infrastructure the country needs for regional economic recovery and long-term growth.”