Land regeneration outfit Harworth Group says the value of its portfolio will rise above predictions for the first half of the year.
In an update to investors ahead of the Rotherham-based group's half year results, Harworth said its 2022 performance would likely be weighted to the six months to the end of June, owing to "anticipated uncertainty" in the UK market. But it said European Public Real Estate Association net disposal value - a performance measure used by group - will be ahead of analysts' consensus, which is currently around 211p per share.
The firm said it made progress on its target of reaching 800,000 sqft direct development per year, pointing to progress of schemes such as at Bardon Hill in Leicestershire and expansion of the Advanced Manufacturing Park in Rotherham. Later this year, Harworth expects planning decisions on more than 3m sqft of proposed space, including projects at Gascoigne Wood, North Yorkshire; Skelton Grange, Leeds; and Houghton Main, Barnsley.
