Aug 07, 2024 / 07:30AM GMT
Jonas Fredrik Widlund - CLS Holdings PLC - Chief Executive Officer, Executive Director
Good morning to everyone, and welcome to CLS Holdings plc half-year results 2024 presentation and Q&A. I'm Fredrik Widlund, Chief Executive. And next to me is our CFO, Andrew Kirkman. Today, we will present the results of the first six months of the year and give you an update on the portfolio and how we are delivering on what we set out to do at the beginning of the year. But first, let me start with an overview of the period.
We had strong leasing momentum in the first six months of the year. And excluding the large Essen lease in June 2023, we did 23% more leases by value and with new leases signed at 5.9% above ERVs. Our net rental income was up 5.9% as a result of higher income from indexation, stronger performance from our hotel and student operation, and the net retention of part of the deposit from the previously failed sale of Westminster Tower. Excluding Westminster Tower, net rental income was up 3.1%. Our underlying vacancy was down to 10.8% while the total vacancy increased to 13.2% from
Half Year 2024 CLS Holdings PLC Earnings Call Transcript
Aug 07, 2024
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