Business
Preliminary Results for year ended 31 March 2019
Preliminary Results for year ended 31 March 2019.
About this update from Mountview Estates P.l.c.
[{"type":"text","content":"\n \nRNS Number : 0174C Mountview Estates PLC 13 June 2019 \n\nMOUNTVIEW ESTATES P.L.C.\n \nPreliminary Results for the year ended 31 March 2019\n \nCHIEF EXECUTIVE OFFICER'S STATEMENT\n \n \nOn 23 June 2016 the British People voted to leave the European Union and every statement that I have written since then has been conscious of the uncertainties that should have been resolved by 29 March 2019. Unfortunately those uncertainties are likely to continue at least until 31 October 2019 but I must write this statement in the belief that we will continue to live in a property owning democracy.\n \nThe headline figures in respect of our financial performance for the year ended 31 March 2019 are detailed under the heading \"Financial Highlights\" below. There has been a further fall in the number of sales transactions completed and thus I have to report a further, but more modest, fall in the Group's profits. Whilst the number of purchases is less than last year we continue to make good purchases and it is these that secure the future prosperity of the Company. The number of regulated tenancies available for purchase diminishes each year but the number of businesses seeking to acquire these diminishes as well.\n \nThe Company's gearing remains low and we continue to scrutinise our expenses keenly whilst ensuring that we reward all our loyal staff for their hard work and expertise which is so vital to the future prosperity of the Company. Also we are comfortable in keeping the final dividend at 200 pence per share, which is payable on 12 August, and thus maintaining the total annual dividend at 400 pence per share which is more than 1.75 times covered.\n \nIt will be a happier task writing this statement when the various uncertainties have been resolved in such a way that we can again report increased profits and thus an increase in dividends. In the meantime it is, once again, my pleasure to thank my staff and colleagues for the hard work and loyalty which ensures the continuing well-being of Mountview Estates P.L.C.\n \n \nDuncan Sinclair\n13 June 2019\n \n \n \nMOUNTVIEW ESTATES P.L.C.\n \nFINANCIAL HIGHLIGHTS\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n 2019\n\n\n \n\n\n \n2018\n\n\n ...