Shares digital

Terrace Hill (THG:AIM) – Finals PTP: £18.1m (£25.8m) Divi: 1.3p (1.1p)

Chief executive Philip Leech says major highlights of the year included a 13.8% rise in triple net asset value (TNAV) to 83.7p per share and a 16.7% hike in the group’s total dividend at 2.1p per share – in line with the group’s progressive dividend policy. Leech says the group is in a strong cash position and is well placed to exploit opportunities in the property market going forward.

Terrace Hill has continued to let completed commercial developments well and has added value through planning gains, site assembly and development. Its Scottish house building division has also progressed nicely. Meanwhile, the valuation of its residential investment portfolio has remained largely unchanged. Some weakness has been noted in properties in the north of England and midlands, but London, the South East and Scotland have proved more resilient. The shares ticked up to 54p.

Shares says: The diverse portfolio should continue to prove beneficial.

by: Rachel Robson