Summary

Half Year Results 2017

“The first half has been a landmark period for Sigma, with the launch of The PRS REIT plc – the first quoted real estate investment trust to address opportunities in the PRS sector – and its associated fund-raising of £250m, marking the most significant milestone to date in the roll-out of our PRS model. We were delighted that the REIT was so well received by a large number of leading UK institutional fund managers and that the UK Government’s Homes and Communities Agency (“HCA”) has taken a 10% shareholding.

“The REIT will be utilising Sigma’s PRS platform and, under the terms of our contract, Sigma will receive fees for delivering new rental homes to the REIT and additional fees for managing the REIT’s assets. Sigma will also generate development profits on assets it builds and sells into the REIT.

“These new revenues will complement our existing PRS activities and also significantly improve visibility of our revenue streams, and enhance the quality of our earnings. The process of investing the first tranche of the REIT’s capital is now well underway and it is anticipated that all the REIT’s IPO funding will be fully committed by the end of H1 2018. “The potential to scale our activities further is substantial. The structural undersupply of rental homes in the UK, especially family homes, together with growing demand, underpin the long term positive prospects of the sector. “Looking ahead over the remainder of the year and beyond, Sigma is on track to deliver the Board’s expectations, and we view 2018 as a pivotal year for Sigma’s profitability.”

 

David Sigsworth
Chairman

 


Beware of Share Fraud

Fraudsters use persuasive and high-pressure tactics to lure investors into scams. They may offer to sell shares that turn out to be worthless or non-existent, or to buy shares at an inflated price in return for an upfront payment. While high profits are promised, if you buy or sell shares in this way you will probably lose your money.

5,000 people contact the Financial Conduct Authority about share fraud each year, with victims losing an average of £20,000.

 

How to avoid share fraud

  • Keep in mind that firms authorised by the FCA are unlikely to contact you out of the blue with an offer to buy or sell shares.
  • Do not get into a conversation, note the name of the person and firm contacting you and then end the call.
  • Check the Financial Services Register from www.fca.org.uk to see if the person and firm contacting you is authorised by the FCA.
  • Beware of fraudsters claiming to be from an authorised firm, copying its website or giving you false contact details.
  • Use the firm’s contact details listed on the Register if you want to call it back.
  • Call the FCA on 0800 111 6768 if the firm does not have contact details on the Register or you are told they are out of date.
  • Search the list of unauthorised firms to avoid at www.fca.org.uk/scams.
  • Consider that if you buy or sell shares from an unauthorised firm you will not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme.
  • Think about getting independent financial and professional advice before you hand over any money.
  • Remember: if it sounds too good to be true, it probably is!

 

Report a scam

If you are approached by fraudsters please tell the FCA using the share fraud reporting form at www.fca.org.uk/scams, where you can find out more about investment scams.

You can also call the FCA Consumer Helpline on 0800 111 6768.

If you have already paid money to share fraudsters you should contact Action Fraud on 0300 123 2040.

In association with The Financial Conduct Authority