Capital & Counties total return jumps on strong London performances

26th Feb 2015 12:18

Property group Capital & Counties Properties said total return for 2014 rose 25% as a strong performance in the London property market drove an increase in its portfolio value.Strong results at the group's Earls Court Properties business and at its Covent Garden unit drove the value of the property portfolio up to £1.6bn, a 33% increase from the previous year."These results demonstrate excellent performance across the group," said group chief executive Ian Hawksworth."The 25% total return delivered in 2014 reflects an acceleration in performance across Capital & Counties"The FTSE 250 group said its estimated rental value rose 14% to £75m, while the company increased its estimated rental value guidance to £100m by December 2017 and has final dividend for the year of 1p per share, giving a full-year dividend of 1.5p per share.Capital & Counties shares were up 1.81% to 399.90p at 12:33 on Thursday.