KWE subsidiary reports £147.3M loss in FY2023; fair value losses and cash decline

Kennedy-Wilson Holdings, Inc.

Kennedy Wilson Europe Real Estate (KWE) recorded a loss after tax of £147.3M for FY2023, vs £108.7M loss in 2022.
Net change in fair value of investment property resulted in a £131.5M loss, partly offset by higher hotel revenue.
Gross revenues increased to £165.6M from £154.9M, led by The Shelbourne Hotel performance.
Cash balance fell to £93.1M from £211.6M after £162.5M in loan repayments; net assets stood at £852.9M.
Total assets were £1,985.7M; management states the group remains in a strong financial position.

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