Business
Interim Management Statement
Interim Management Statement.
About this update from Fletcher King Plc
[{"type":"text","content":"\n RNS Number : 4538D Fletcher King PLC 15 September 2008 \nFLETCHER KING PLC\n \nINTERIM MANAGEMENT STATEMENT\n \n \n \n \nFletcher King Plc is today publishing its Interim Management Statement relating to the period 1st May 2008 to 31st July 2008.\n \nThe difficult market conditions reported in the Chairman’s statement for the year ending 30th April continue as predicted and trading conditions for Fletcher King remain difficult.\n \nThe value of investment property continues to decline and the mismatch between the price expectations of vendors and purchasers has resulted in a virtually stagnant investment market.\n \nOur Rating and Property Management business remains unaffected by current market conditions. Volumes in our valuation business have been, surprisingly, largely unaffected by the liquidity crisis although fee levels have come under pressure and turnover in that sector of our business will be impacted.\n \nFletcher King Howard, our building services subsidiary, continues to experience difficulties as a result of their clients delaying capital expenditure programmes.\n \nWe continue to reduce our overhead costs to help mitigate the effects of these market conditions.\n \nWe are managing our debts aggressively and our balance sheet and cash position remains strong.\n \nWe see little chance of the market improving before mid-2009 at the earliest.\n \n \n \n \nThis information is provided by RNSThe company news service from the London Stock Exchange END IMSLELFFVKBEBBQ \n ","length":2478,"tagName":"div"}]