- St. Modwen said that since the start of the financial year its diverse portfolio and wider business has continued to perform in line with directors' expectations.

It said it had demonstrated resilience in the face of broader market uncertainties.

CEO Mark Allan said over the last six months St. Modwen had undertaken a detailed review of the current portfolio and the existing opportunities within its extensive asset base.

"The outcome of this review has been positive, highlighting the strength and depth of opportunity within the business and portfolio to create value through our regeneration, commercial and residential expertise," he said.

"Having experienced a positive start to the year that reflects management expectations, we will now continue to refine the strategy further and concentrate on those areas of our deep and diverse portfolio that present genuine opportunities for value generation and further business growth which will ultimately lead to enhanced shareholder returns."

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