Intu warns on rental income as it expects CVAs to rise

Matthew Roberts

Intu has warned its annual rental income for 2019 will be up to 6% down on last year as it expects a rise in the number of company voluntary arrangements (CVAs) among retailers.

Presenting his first trading update as chief executive, Matthew Roberts said the shopping centre giant’s net rental income would be down more in the first half of 2019, given the stronger comparative, and less so in the second half of the year due to the higher levels of CVAs and a slow-down in completing new lettings. The group had previously expected rental income to be down between 1% and 2%.

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