Urban Exposure plc – Interim results

Urban Exposure plc – Interim results

Urban Exposure Plc and its subsidiaries, a specialist residential development financier and asset manager, today announces its unaudited Group financial results for the period from 10 April 2018 (the date of incorporation) to 30 September 2018, following its admission to AIM on 9 May 2018.

The Group's financial year ends on 31 December each year and, accordingly, the period to 30 June is the half-year period in each year for which interim results will be prepared going forward.

These interim results, are being published in accordance with AIM Rule 18.

The Group will publish its inaugural audited financial results for the period from 10 April 2018 to 31 December 2018 before 30 June 2019.

Highlights

  • As at 30 September 2018, funding of £168.4 million had been committed across seven loans. £62.1 million of cash had been deployed in respect of these seven loans, being 41% of the £150 million capital raised in the IPO.
  • On 27 July 2018, the Group announced that it had closed its first managed account, a partnership agreement with Kohlberg Kravis Roberts (KKR) with exclusivity, and with a value of £165 million (of which the Group co-invested £15m).
  • The loss for the period was £3.1 million, which includes exceptional costs of £0.6 million and share-based expenses of £0.3 million.
  • Interim dividend of 0.83 pence per ordinary share

Financial Highlights

  • Revenue:  £0.6m
  • Loss before tax:  £(3.1)m
  • Basic loss per share: (2.25)p
  • Dividend per share: 0.83p
  • Net assets:  £155.5m
  • Cash on balance sheet: £80.4m

A copy of the Interim Report will shortly be available on the Company's website at www.urbanexposureplc.com

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