Harworth Group pivots to powered land growth
Tip Ranks·
- Harworth Group reported its Q2 earnings call, highlighting a strategic pivot to exit the residential sector and focus on industrial, logistics, and powered land opportunities.
- Despite facing a negative total accounting return of -3.7% and a net portfolio value loss of GBP 14.9 million due to residential market headwinds and valuation pressures, the company maintained a conservative net loan to portfolio value of 20.3% with GBP 99.5 million in available liquidity.
- Management projects its construction-ready land bank will deliver approximately GBP 600 million in gross development value over three to five years while aiming to expand powered land capacity to 1.9 gigawatts.