Half Year 2023 Helical PLC Earnings Call Transcript
Good morning, everyone. I'm delighted to welcome all of you to the presentation of Helical's half year results to 30 September 2022, whether you are here in the room or virtual on the webcast facility.
Please let me set out the agenda for today, and we will follow a format that is familiar to many of you. I will run through the highlights from the results, provide some commentary and set out the way forward. Tim will explain the numbers, particularly concentrating on debt, and Matthew will report on the portfolio highlights and sustainability. After this, I will sum up, and we will then be delighted to answer any questions any of you may have.
Our profit after tax is GBP 17.2 million. Our EPRA NTA value has decreased 3.3% from 572p in March to 553p. The valuations are down by 2.2% offset to some extent by 4.3% ERV growth. Generally, we have seen a downward yield movement of 25 basis points with an increase on The JJ Mack Building valuation. Now practical completion has been achieved, and developers' profit is released. Our LTV
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