Business
Half-yearly Report and notice of dividend
Half-yearly Report and notice of dividend.
About this update from Gs Chain Plc
[{"type":"text","content":"\n \n 27 September 2010\n\n GSC Property Holdings plc \n\n Interim results for the 6 months to 30 June 2010 \n\nHighlights:\n\n * Rental income falls slightly to £3,644,552 (2009: £3,915,575)\n \n * Operating profit before property disposals falls to £2,932,432 (2009: £3,062,873)\n \n * Interim dividend 1.5p pence per share (2009: 2.0 pence)\n \nMark Rubin, Chief Executive commented:\n\n\"Trading in the six months to 30 June 2010 has been steady, broadly maintaining\nthe level of the previous year. GSC remains well placed to capitalise on\nopportunities as they arise; in the meantime our investment portfolio continues\nto generate a substantial and reliable return.\"\n\nFor further information please contact:\n\nMark Rubin, Chief Executive 01702 293 300\nJonathan Williams, Bishop Fleming (Corporate Adviser) 0117 910 0250\nAnthony Spiro, Spiro Financial (Press and Investor Relations) 020 8336 6196\n\n ------------------------------------ \n\nGSC Property Holdings specialises in commercial property investment in the UK.\nThe company's strategy is to spread risk through building a diverse portfolio\nto minimise exposure to any single end use or geographical area. Our objective\nis to add maximum value for shareholders.\n\n ------------------------------------ \n\nCHAIRMAN'S STATEMENT FOR THE CONSOLIDATED UNAUDITED GROUP RESULTS FOR THE HALF \n YEAR ENDED 30 JUNE 2010 \n\nTrading in the six months to 30 June 2010 has been steady, broadly maintaining\nthe level of the previous year. The severe market movements resulting from the\nfinancial crisis, which destabilised the property market, seem to have worked\ntheir way through the system, although there are still few signs of any\nsustained recovery.\n\nOperating profit at £2,932,432 was little changed from last year's level of £\n3,062,873. This was achieved on rental income of £3,644,552 compared with £\n3,915,575 in the equivalent period last year. This is a satisfactory\nperformance in a difficult market and reflects the breadth and underlying\nstrength of our portfolio.\n\nThe Board has declared a dividend of 1.5 pence (2009: 2.0 pence) which will be\npaid on 24th November 2010 to shareholders on the register on 10th November\n2010.\n\nProperty investment activity in the six months to end June 2010 remained at a\nlow level. In June the company sold its interest in a superm...