St Modwen swings to £120m loss as NAV slumps

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Net asset value (NAV) at St Modwen slumped 11.7% in the year to the end of November as Covid-19 lockdowns hit its development pipeline.

NAV fell to 427.7p per share, compared to 484.2p a year earlier, as the logistics and housebuilding specialist swung to a £120.8m loss from a profit of £49.5m in 2019.

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