Harworth Group (HWG) H1 2026 TU earnings summary

Executive summary

• Advanced negotiations for a second hyperscale data centre site, expected to surpass the value of the previous £106.6m transaction.

• Accelerated capital reallocation towards powered land and industrial growth sectors, targeting 85% industrial & logistics portfolio weighting by 2029, with 70% achieved by end of 2025.

• Strong momentum in sales and lettings pipeline, including significant pre-lets and land sales.

Financial highlights

• Completed, exchanged, or in legals on 60% of budgeted full year sales, including 952 residential plots.

• Annualised rental income of £3.7m secured from new pre-lets at an average 17% premium to ERV.

• Available liquidity of £99.5m as at 30 June 2026, up from £59.8m a year earlier.

Outlook and guidance

• EPRA NDV as at 30 June 2026 expected to be modestly below 31 December 2025, mainly due to residential market headwinds.

• Industrial & logistics land valuations expected to remain stable, offsetting cost increases.

• Continued focus on powered land and industrial sectors to drive higher returns and sustainable growth.