StockMarketWire.com - Property company Capital & Counties Properties reported wider first-half losses as net rental income and its property value slumped, owing to the impact of government-imposed lockdown measures.

For the six months ended 30 June, pre-tax losses widened to £441.1m from £8.5m on-year as revenue slipped to £38.1m from £40.1m.

Net rental income fell 41% to £18m, and property value fell 16.3% to £2.3bn, reflecting weakness in its ovement in retail, leisure and F&B portfolio on the impact of the pandemic.

'There remain many challenges and an unpredictable economic environment resulting from COVID-19 and as the UK adjusts to Brexit but Capco is confident in the long-term prospects of the West End and the value of its unique investments,' the company said.




At 8:17am: [LON:CAPC] Capital Counties Properties PLC share price was -1.65p at 139.35p



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