27 April 2007
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The Cardiff Property plc

27 April 2007

 

Interim results for the six months ended 31 March 2007

 

(The group, including Campmoss, specialises in property investment and development in the Thames Valley . The portfolio, valued in excess of £34m, is primarily located to the west of London, close to Heathrow Airport and  in Surrey and Berkshire .)

 

Highlights
Six Months
31 March
2007
(Unaudited)		 Six Months
31 March
2006
(Unaudited)		 Year
30 September
2006
(Audited)
bulletGroup revenue
 £'000 443 259 2,442
bulletProperty sales
 £'000 nil nil 1,927
bulletNet assets per share*
 pence 1,140 1,006 1,123
bulletProfit before tax
 £'000 464 452 2,549
bulletEarnings per share
 pence 23.0 20.7 137.6
bulletInterim / final dividend per share
 pence 3.00 2.75 10.05
bullet Gearing
 % nil nil nil

*  Properties not revalued at half-year

Richard Wollenberg, chairman, commented:

"The expected increase in rental growth, supported by tenant demand, whilst evident in locations such as Central London, The City and Docklands, has not yet occurred in the Thames Valley M4 corridor although there is widespread optimism in the market place that this will happen towards the end of 2007.

Increasing interest rates, together with additional supply is likely to prompt a slow down in the market but the continuing availability of substantial investment funds should underpin current values." 

A copy of the full interim report for the six months ended 31 March 2007 is available in pdf format (size 195K) by clicking here.

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

 

 

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