- LXB Retail Properties has announced that its expects the net asset value to be below previous guidance of 38.7p per share and is now likely to be in the range of 30p to 35p.

The Company said this reduction is due to disappointing progress at Stafford Riverside and Rushden Lakes, as a result of a softening in both the lettings and investment market, and most recently in consequence of potential serious cost over-runs in connection with the highways works at Rushden.

A further update will be provided within 14 days when the Board expects to be in a position to provide a more detailed assessment of the likely impact on NAV.

At 2:22pm: [LON:LXB] LXB Retail Properties Plc share price was -4.88p at 23.5p

Story provided by