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General information

Sector: Financials

The company is not available at Interactive Brokers

Capital & Counties Properties plc (JSE:CCO), 'Capco' is one of the largest listed property companies in central London. Capco owns and manages the landmark Covent Garden estate. The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.

Covent Garden is a leading retail and dining destination in the heart of London. Capco is responsible for the management of over 1.2 million square feet of space at Covent Garden. Under Capco’s vision and stewardship, Covent Garden has been transformed into a world-class destination for brands welcoming over 40 million visits a year.

Retail

Under Capco’s stewardship, Covent Garden has been transformed into a world-class destination, welcoming over 160 new brands since 2006. The Covent Garden estate has a vibrant mix of global, British heritage and independent brands, including Charlotte Tilbury, Chanel, Mulberry, Tom Ford and Polo Ralph Lauren.

Restaurants

The range of dining concepts on the Covent Garden estate continues to expand, with a number of high quality and differentiated concepts including Balthazar, SUSHISAMBA, VyTA, Oystermen, and Buns & Buns. Covent Garden is now one of London’s most desirable dining destinations.

Offices

Capco's offices are located in the streets just off the Piazza. Perfect for a range of businesses, from small advertising agencies to larger corporates and often have unique floor plates.

Residential

Capco continues to restore the estate’s residential heritage. The Floral Court Collection offered 29 individually-crafted homes and a rare opportunity to live in this iconic setting. Leasing demand for residential accommodation across the estate remains positive with a high rate of renewals recorded.



  • Pretty weak financial results growth rate 0.5% (average between last period year over year growth for revenue and Net Income), there is acceleration compared to average historical growth rates (0.2%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 49.2% higher than minimum and 23.7% lower than maximum for the last 3 years
  • The company is overvalued by P/E LTM multiple compared to target level (7.6x vs
    )

Key Financials

Share price, ZAR:  (0.0%)28.85
Share price, USD: 1.5541
Common stocks: 818 717 504

Dividend Yield:  0.0%
P/E LTM: 7.6x
Last revenue growth (y/y):  +1.1%
Last growth of Net Income (y/y):  0.0%
Historical revenue growth:  -9.1%
Historical growth of Net Income:  +40.0%
Target P/E (hist percentile):
P/E mutiple calculation
Market Cap ($m): 1 272
Net Profit ($m): 167
P/E LTM: 7.6x
Price to Book: 0.47x

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-02
Interim results for the six months ended 30 June 2022
2022-07-29
Results of General Meeting
2022-07-13
Notice to Bondholders, the Trustee and the Principal Paying, Transfer and Exchange Agent
2022-07-08
Trading update, publication of documents in connection with recommended all-share merger of Capco with Shaftesbury
2022-06-28
Resolutions passed at 2022 annual general meeting
2022-06-17
Recommended merger of Capital & Counties Properties plc and Shaftesbury plc by Scheme of arrangement
2022-06-07
Notification of major interests in shares
2022-05-31
2021 Final Dividend - Exchange Rate
2022-05-30
Possible all-share merger of Shaftesbury PLC and Capital & Counties PLC - Extension to PUSU deadline
2022-05-23
Amendment to part 2(a) and inclusion of supplemental form 8 (open positions)
2022-05-20
Public opening position disclosure by a party to an offer
2022-05-20
Public opening position disclosure by a party to an offer
2022-05-09
Possible all-share merger of Shaftesbury PLC and Capital & Counties Properties PLC
2022-03-22
Annual Financial Report 2021 and Notice of 2022 Annual General Meeting
2022-03-18
Block listing six monthly return
2022-03-04
Notification of major interests in shares
2022-03-01
Director / PDMR awards
2022-02-28
Total voting rights – disclosure
2022-02-25
Change of JSE sponsor
2022-02-23
Audited preliminary results for the year ended 31 December 2021
2022-01-25
Notification of 2021 results
2022-01-17
Trading update
2021-12-08
Publication of Capco's net zero carbon pathway
2021-10-08
Notification of major interests in shares
2021-09-30
Total Voting Rights – Disclosure

Documents

SENS Announcements

2023-03-06
Board changes and name change
2023-03-06
Shaftesbury Capital PLC merger effective
2023-03-06
Recommended all-share merger of Capital & Counties and Shaftesbury - Completion of the merger
2023-03-06
Form 8 (DD) - Public dealing disclosure by a party to an offer or person acting in concert
2023-03-06
Form 8 (DD) - Public dealing disclosure by a party to an offer or person acting in concert
2023-03-06
Form 8 (DD) - Public dealing disclosure by a party to an offer or person acting in concert
2023-03-06
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with
2023-03-03
Form 8 (DD) - Public dealing disclosure by a party to an offer or person acting in concert
2023-03-03
Notification of transactions of persons discharging managerial responsibilities and persons closely associated
2023-03-03
Recommended all-share merger of Capital & Counties and Shaftesbury - Publication of second supplementary prospectus
2023-03-03
Annual financial report 2022
2023-03-03
Finalisation in respect of the change of name of the company
2023-03-02
Recommended all-share merger of Capital & Counties and Shaftesbury - Scheme sanctioned by court
2023-03-01
Audited preliminary results for the year ended 31 December 2022
2023-02-24
Notice to bondholders, the trustee and the principal paying, transfer and exchange agent
2023-02-22
Name change declaration announcement
2023-02-22
CMA clearance and update on timetable
2023-02-21
2022 second interim cash dividend - exchange rate and confirmation of split between PID and ordinary dividend
2023-02-07
Purchase Election Notice
2023-02-01
Notice to bondholders
2023-01-30
Declaration of second interim dividend
2023-01-30
Trading update and notice of results
2023-01-06
Notice to Bondholders, the Trustee and the Principal Paying, Transfer and Exchange Agent
2023-01-03
Rule 2.9 announcement
2022-12-30
Total voting rights - disclosure
2022-12-19
Public dealing disclosure by a party to an offer or person acting in concert
2022-12-19
Notification of transactions of persons discharging managerial responsibilities and persons closely associated with
2022-12-14
Notice to Bondholders
2022-11-30
Recommended all-share merger of Capco and Shaftesbury PLC (“Shaftesbury”) - Publication of supplementary prospectus
2022-11-29
Recommended all-share merger of Capco and Shaftesbury PLC (“Shaftesbury”) - Update on pre-completion dividends
2022-11-16
Notification of major interests in shares
2022-11-14
Transactions in own shares
2022-11-11
Transactions in own shares
2022-11-10
Transactions in own shares
2022-11-09
Transactions in own shares
2022-11-07
2020 Share Buyback Programme
2022-11-01
Trading Update
2022-10-26
Recommended all-share merger of Capital & Counties PLC and Shaftesbury PLC - Update on CMA Condition and Timetable
2022-09-28
Public dealing disclosure by a party to an offer, person acting in concert (incl. for discretionary clients)
2022-09-28
Notification of transactions of persons discharging managerial responsibilities and persons closely associated
2022-09-20
Block listing six monthly return
2022-09-13
2022 interim dividend – Change to UK payment date
2022-09-12
Public dealing disclosure by a party to an offer or person acting in concert
2022-09-12
Notification of transactions of persons discharging managerial responsibilities and persons closely associated
2022-08-16
2022 Interim Dividend - Exchange Rate
2022-08-02
Interim results for the six months ended 30 June 2022
2022-07-29
Results of General Meeting
2022-07-13
Notice to Bondholders, the Trustee and the Principal Paying, Transfer and Exchange Agent
2022-07-08
Trading update, publication of documents in connection with recommended all-share merger of Capco with Shaftesbury
2022-06-28
Resolutions passed at 2022 annual general meeting
2022-06-17
Recommended merger of Capital & Counties Properties plc and Shaftesbury plc by Scheme of arrangement
2022-06-07
Notification of major interests in shares
2022-05-31
2021 Final Dividend - Exchange Rate
2022-05-30
Possible all-share merger of Shaftesbury PLC and Capital & Counties PLC - Extension to PUSU deadline
2022-05-23
Amendment to part 2(a) and inclusion of supplemental form 8 (open positions)
2022-05-20
Public opening position disclosure by a party to an offer
2022-05-20
Public opening position disclosure by a party to an offer
2022-05-09
Possible all-share merger of Shaftesbury PLC and Capital & Counties Properties PLC