Full Year 2018 CLS Holdings PLC Earnings Call Transcript
So good morning, and welcome to CLS Holdings PLC's Full Year 2018 Results Presentation. I'm Fredrik Widlund, Chief Executive; and I'm here with John Whiteley, CFO and Simon Wigzell, Head of Group Property. Today, we will present you with the results, talk about our progress during the year, and give an update on where we are against our strategic targets.
I'd like to start by giving you a high-level overview. 2018 was a year when the company continued to grow and also one where the diversification and pan-European exposure had another positive impact. Rental income increased from GBP 93.7 million to GBP 103 million which is a 9.3% increase. This is a net number includes both acquisition and disposals and on a like-for-like basis, rental income was up circa 1%.
Valuations was up 3.7% in local currency with the star performer being Germany up 9.3%, but more details about that later. The strong operational performance, together with valuation uplift, meant that EPRA NAV was up 8.5% and now stand at 309.8p per share. As you can see on
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