Business
ALG and Louise Goodwin Acquired
ALG and Louise Goodwin Acquired.
About this update from Mountview Estates P.l.c.
[{"type":"text","content":"\n Mountview Estates PLC\n16 November 1999\n\nMountview Estates plc ('Mountview' or 'the Company')\n\nAcquisition of A.L.G. Properties Limited ('ALG') and Louise\nGoodwin Limited ('Louise Goodwin')\n\n\nThe Board of Mountview today announces the acquisition of\nALG and Louise Goodwin, two London property investment and\nmanagement companies, both in the ownership of the Goodwin\nfamily. Combined consideration for both companies is\n£18,027,000, being £2,884,320 for ALG and £15,142,680 for\nLouise Goodwin, payable in cash from Mountview's own\nresources.\n\nFinancial Information on ALG and Louise Goodwin\n\nFor the financial year to 25th March, 1999 ALG recorded a\nloss before taxation of £94,895; net assets at the year end\nwere £1,649,773.\n\nFor the financial year to 31st March 1999, Louise Goodwin's\nprofits before taxation were £108,266; net assets at the\nyear end were £11,589,956.\n\nReasons for Acquisitions\n\nALG and Louise Goodwin own and rent residential properties\nin the Belsize Park area of London; a typical property is a\nlarge dwelling house that has been sub-divided into a number\nof separate apartments. Historically, the property\nportfolios owned by ALG and Louise Goodwin have been managed\non a long-term investment basis. Mountview believes that\nits active approach to the management of residential\nproperty should improve the returns from both acquisitions.\n\nFurther Information:\n\nFrank Malcolm Tel: 0131 225 2566\nBell Lawrie White & Co.\n(a division of Brewin Dolphin\nSecurities Ltd., stockbrokers to Mountview)\n\n \n ","length":1762,"tagName":"div"}]