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All eyes on St Modwen’s value creation potential
Tuesday 7 February
Full year results on 7 February from real estate developer St Modwen Properties (SMP) provide an opportunity for incoming chief executive Mark Allan and finance director Rob Hudson to outline their plans for the business. Investment bank Liberum believes the company has self-help potential and could soon sell its Nine Elms residential property scheme. ‘St Modwen’s significant 6,000 acre land bank provides a long-term pipeline of value creation potential,’ adds Liberum. ‘Risks are partly mitigated by an income generating portfolio, which covers the majority of overhead and interest cost.’