Palace Capital (GB:PCA) has released an update.
Palace Capital PLC has reported a strategic shift towards a strong net cash position, having sold 24 properties for £112.9 million, and reduced gross debt by £56 million in the financial year 2024. Despite challenging market conditions, they remain committed to delivering shareholder value, including a tender offer to return approximately £22 million to shareholders. The company’s net rental income and adjusted profit before tax have decreased due to these disposals, but they have maintained dividends and are planning further property sales and share buyback programs.
For further insights into GB:PCA stock, check out TipRanks’ Stock Analysis page.
