26 November 2009
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FOR IMMEDIATE RELEASE

The Cardiff Property plc

26 November 2009

 

Preliminary results for the year ended 30 September 2009

 

(The group, including Campmoss, specialises in property investment and development in the Thames  Valley. The portfolio, valued in excess of £31m, is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire .)

 

Highlights

bulletRental income £0.6m (2008: £0.6m)  
bulletProperty sales £0.6m (2008:£nil)
bulletLoss before tax £0.7m (2008: £1.5m)
bulletLoss per share 57.7p (2008: 90.2p)
bulletTotal dividend per share paid and proposed 12.3p (2008: 12.3p)
bulletFinal dividend proposed 9.0p per share (2008:9.0p)
bulletNet assets per share 1,065p (2008: 1,105p)
bullet Gearing nil (2008: nil)

Richard Wollenberg, chairman, commented:

“The Thames Valley commercial property market continues to be adversely affected by low levels of occupier demand, falling rents, tenants exercising break clauses and empty property tax. Rents and values have fallen dramatically over the past two years and it is natural that tenants considering relocation will be attracted to the more favourable terms available in the market place. However in my view it will be some time before a sustained recovery takes place.”

A copy of the preliminary announcement for the year ended 30 September 2009 is available in pdf format by clicking here.

A copy of the 2009 Annual Report is available in pdf format by clicking here.

A copy of the rule 9 waiver document is available in pdf format by clicking here.

 

Further Information
The Cardiff Property plc Richard Wollenberg 01784  437444
Arbuthnot Securities Richard Johnson 020 7012 2000
 

 

 

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