St Modwen steps up a gear

St Modwen Properties expects to see profits significantly ahead of expectations and brokers have boosted their net asset value forecasts

January 9, 2014

by Jonas Crosland

What's new

■ Broker estimates revised sharply higher

■ Strong demand for residential land

■ Elephant & Castle complex sold for £80m

IC TIP: Buy at 373p

Strong demand for residential and commercial projects has worked well for regeneration specialist St. Modwen Properties (SMP). Indeed, a trading statement last month indicated that profits for the year to end-November will be substantially ahead of previous expectations.

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