Palace Capital - Confidently reinstating DPS

Palace Capital (PCA) reported FY20 adjusted PBT in line with expectations while COVID-19 contributed to end-year negative unrealised valuation movements. With robust rent collection to date, PCA has shown its confidence by re-instating DPS payments. While market conditions are challenging, PCA benefits from refurbished properties that are available to let and continued progress at Hudson Quarter where 25% of apartments have been pre-sold ahead of the expected March 2021 completion.