Business
Interim Results
Interim Results.
About this update from Fletcher King Plc
[{"type":"text","content":"\n Fletcher King PLC\n17 December 2007\n\n\nPRESS RELEASE\n\nNot for release before 0700hrs, 17 December 2007\n\n\n\n FLETCHER KING PLC\n\n INTERIM RESULTS\n\n\nFletcher King announces strong performance for the first half of the year but\nremains cautious for the full year results.\n\nFletcher King PLC, the London based property fund managers and asset managers\nannounces today its interim results for the 6 months to 31 October 2007.\n\n\nFinancial highlights:\n\n • Profit before tax up 53% to £470,000 (2006: £308,000).\n • Turnover up 6% at £3.598m (2006: £3.40m).\n • Increased in interim dividend of 25% to 1.25p (2006: 1p) which\n will be paid on 18 January 2008.\n\nOperational highlights:\n \n • The Investment and Fund Management department has performed well during the \n period.\n • The funds from the latest Stratton House Investment Property Syndicate \n ('SHIPS')are in place ready to capitalise on the attractive buying \n opportunities that should present themselves in 2008.\n • The Valuation and Rating department continues to perform strongly and the \n volume of valuation instructions continues at undiminished levels.\n\n\nCommenting David Fletcher, Chairman of Fletcher King said:\n\n'I am delighted to announce another 6 months of strong trading during which we \nhave increased profit, turnover and dividend. However, going forward the company \nwill not be immune from the impact of the recent reduction in activity in the \ncommercial property market and I believe that the results for the full year will \nfall materially short of those achieved during 2006.\n\nThat said, there will be a number of excellent buying opportunities during 2008 \nand we are well placed to take advantage of such opportunities with the funds \nfrom the latest SHIPS fund.'\n\nFor further information:\n\nDavid Fletcher, Fletcher King 020 7493 8400\n\nTim McCall, MJ2 020 7484 5353\n\n\n\nFLETCHER KING PLC INTERIM REPORT 2007\n\nCHAIRMAN'S STATEMENT\n\nThe Group performed well compared with the same period last year with profits \nbefore tax of £470,000 (2006 £308,000) on a turnover of £3.598m (2006 £3.4m). \nEarnings per share are 3.46p (2006 2.2p). Your Directors have declared an \nincreased interim dividend of 1.25p (2006 1.0p) to be paid on 18 January 2008 to \nshareholders on the register at close of business on 4 January 2...