Business
Interim Results - Amendment
Interim Results - Amendment.
About this update from Fletcher King Plc
[{"type":"text","content":"\n Fletcher King PLC\n23 January 2007\n\nThis is an amendment to the Fletcher King's Interim Results, RNS release number \n9598P, released at 07.00 on 23 January 2007. Please note amendments to the\ncomparitive years used in the financial highlights on page one in relation to \nturnover and interim dividend. \n\n\nPRESS RELEASE\n\nNot for release before 0700, 23 January 2007\n\n\n\n FLETCHER KING PLC\n\n INTERIM RESULTS\n\n\n Fletcher King announces strong performance for the half year and anticipates\n full year results significantly in excess of last year.\n\n\nFletcher King, the London based property fund managers, asset managers and\nchartered surveyors, announces today its interim results for the 6 months to 31\nOctober 2006.\n\n\nFinancial highlights:\n\n\n • Profit before tax up 45% to £308,000 (2005: £213,000)\n • Turnover up 11% at £3.45m (2005: £3.10m)\n • Increased in interim dividend of 59% to 1.0p (2005: 0.63p) which will be\n paid on 16 February 2006\n\n\nOperational highlights:\n\n\n • The Investment and Fund Management department has shown a substantial \n increase in turnover and profit compared to the same period last year and\n maintains a strong pipeline of work for the second half of the year.\n • A new FSA-regulated subsidiary, Fletcher King Investment Management Plc,\n has been set up to advise on, promote and run collective investment \n vehicles and to advise clients on indirect property investments.\n • The Stratton House Investment Property Syndicates ('SHIPS') continue to\n perform exceptionally well. The majority of the SHIPS 01 portfolio has been\n sold returning over 30% per annum on equity for investors. The second fund\n is now fully invested, returning in excess of 20% per annum on equity and\n capital is currently being raised for the third fund.\n • The Valuation and Rating department has again increased its turnover in\n both Bank Valuations and Rating Appeals - these are currently running at \n 20% above the same period last year.\n\n\nCommenting David Fletcher, Chairman of Fletcher King said:\n\n'I am delighted to announce another strong 6 months of trading. We have\nincreased profit, turnover and dividend on the same period last year and all\ndepartments remain on track to achieve full year targets.\n\nI look forward to the next six months with confidence and I am especia...