StockMarketWire.com - Property investment and development company Capital & Counties said it had temporarily suspended its share buyback programme to conserve cash and warned of disruption to income following the nationwide lockdown imposed by the government to contained the Covid-19 outbreak.

'The majority of retail and F&B units on the Covent Garden estate are closed temporarily and whilst government-related support measures will be helpful for many occupiers, Capco expects disruption to income during the course of this year,' the company said.

With total cash currently approximately £250m, a further £120m to be received from the Earls Court sale and access to over £700m of committed undrawn facilities, Capco said it had a strong balance sheet but decided to temporarily suspend the share buyback programme to preserve cash amid 'highly uncertain market conditions.'

At 9:00am: [LON:CAPC] Capital Counties Properties PLC share price was -0.62p at 159.13p



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