The call presents a broadly positive operational and financial picture: valuation, ERV, rental income, underlying earnings and dividends all increased materially; balance sheet metrics were strengthened (net debt down, LTV 17%) and leasing demand is strong with low vacancy. The main concerns are refinancing requirements in the near term, heightened administration costs (driven by share options), and macro/interest rate uncertainty. On balance, the positive performance metrics and enhanced liquidity outweigh the manageable risks highlighted.

Company Guidance

Management guidance is for rental growth of 5–7%, a total property return target of 7–9% and a total accounting return target of 8–10%, with cash rents expected to grow in line with ERV (ERV was +6.2% to GBP 270m in the year). Finance guidance is for finance costs to be broadly flat despite refinancing/repayment of c. GBP 400m of maturing debt (including GBP 275m exchangeable bonds due end‑Mar‑26), having already reduced net debt from GBP 1.4bn to GBP 0.8bn, cut finance costs ~30% to GBP 41.4m, and capped GBP 300m of SONIA exposure at 3%; new facilities include a GBP 300m 5‑year Covent Garden loan and undrawn bank headroom of GBP 450m extended to 2029/2030. Balance sheet and returns guidance is underpinned by low leverage (LTV c.17%, <20%), EBITDA multiple <7x, strong operational metrics (like‑for‑like gross rents +5.9% to GBP 195.6m, underlying earnings +12% to GBP 81.9m/4.5p, vacancy 2.6%, lettings 10% ahead of ERV and 14% ahead of previous passing rents, c. GBP 16m of contracted/rent‑free income to convert within 12 months), and a pipeline of asset works equal to 4.2% of ERV.

Valuation and Returns

Portfolio valuation up 6.6% like-for-like to GBP 5.4bn; total accounting return around 9% and total property return around 10%; ERV increased c.6.2% to GBP 270m.

Rental and Leasing Performance

Gross rents up c.5.9% like-for-like to GBP 195.6m; lettings and renewals on aggregate 10% ahead of ERV and 14% up on previous passing rents; 434 leasing transactions in the year representing nearly GBP 40m of contracted rent; portfolio vacancy very low at 2.6%.

Earnings, Dividends and Finance Costs

Underlying earnings increased 12% to GBP 81.9m (c.4.5p per share); total dividend up 14% to 4.0p per share with a proposed final dividend of 2.1p; finance costs reduced by almost 30% to GBP 41.4m.

Balance Sheet Strength and Liquidity

Net debt reduced from GBP 1.4bn to GBP 0.8bn (group share); loan-to-value c.17%; net tangible assets up c.7% year-on-year; new GBP 300m 5‑year Covent Garden facility, extended undrawn facilities of GBP 450m and a GBP 300m SONIA exposure cap at 3% to protect finance costs.

High-Quality, High-Demand Portfolio

Irreplaceable West End portfolio of ~2.8m sq ft, 640 buildings and ~1,900 lettable units with strong retail and F&B mix; retail valuation growth of c.10.4%; customer sales materially ahead of 2019 levels; average ERV below GBP 100/sq ft supporting affordability and demand.

Strategic Partnership and Capital Deployment

Formed a long-term partnership on Covent Garden with Norway's sovereign wealth fund (NBIM) enhancing capital optionality; invested in acquisitions and capex (cited >GBP 100m across activity) and completed targeted acquisitions of ~GBP 80m while disposing c. GBP 12m of assets.

Shaftesbury Capital (GB:SHC) Earnings, Revenues Date & History

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GB:SHC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 05, 2026	2026 (Q2)	- / -	0.022	―	―	―
Feb 25, 2026	2025 (Q4)	- / 0.10	0.085	22.35% (+0.02)	―	―
Jul 29, 2025	2025 (Q2)	0.02 / 0.02	0.019	15.79% (<+0.01)	―	―
Feb 27, 2025	2024 (Q4)	- / 0.09	-0.025	440.00% (+0.11)	―	―
Jul 31, 2024	2024 (Q2)	- / 0.02	0.019	0.00% (0.00)	―	―
Feb 29, 2024	2023 (Q4)	- / -0.03	-0.236	89.41% (+0.21)	―	―
Aug 03, 2023	2023 (Q2)	- / 0.02	0.005	280.00% (+0.01)	―	―
Mar 01, 2023	2022 (Q4)	- / -0.24	0.157	-250.32% (-0.39)	―	―
Aug 02, 2022	2022 (Q2)	<0.01 / <0.01	-0.122	104.10% (+0.13)	―	―
Feb 23, 2022	2021 (Q4)	- / 0.16	-0.309	150.81% (+0.47)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:SHC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 25, 2026	147.20p	151.80p	+3.13%
Jul 29, 2025	153.84p	159.18p	+3.47%
Feb 27, 2025	121.92p	121.63p	-0.24%
Jul 31, 2024	146.12p	146.60p	+0.33%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Shaftesbury Capital (GB:SHC) report earnings?

Shaftesbury Capital (GB:SHC) is schdueled to report earning on Aug 05, 2026, TBA (Confirmed).

What is Shaftesbury Capital (GB:SHC) earnings time?

Shaftesbury Capital (GB:SHC) earnings time is at Aug 05, 2026, TBA (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is the P/E ratio of Shaftesbury Capital stock?

The P/E ratio of Shaftesbury Capital is N/A.

What is GB:SHC EPS forecast?

Currently, no data Available