Business
Preliminary Results: year ended 31 March 2023
Preliminary Results: year ended 31 March 2023.
About this update from Mountview Estates P.l.c.
[{"type":"text","content":"\n\nMountview Estates PLC\n15 June 2023\n \n \nMOUNTVIEW ESTATES P.L.C.\n \nPreliminary Results for the year ended 31 March 2023\n \n \nCHIEF EXECUTIVE OFFICER'S STATEMENT\n \nWe are now living in the circumstances of double digit inflation and rising interest rates which give us very different problems to those experienced before and indeed during the Covid pandemic. At a time when companies are failing to pay dividends and even ceasing to trade mere survival must be considered to be a success.\n \nThis Company has not only survived but has maintained an increased level of dividend. Your Board recommend that the final dividend be maintained at 250 pence per share. If shareholders approve the final dividend at the Annual General Meeting on 9 August 2023 it will be payable on 14 August 2023 to shareholders on the register at 7 July 2023.\n \nTurnover has increased by 11.5% but the cost of sales has increased substantially and with modest increases in administrative expenses and finance costs the resulting earnings per share have fallen by a mere 1.6%.\n \nI always emphasize that making the right purchases is the most important part of the business and our financial stability has enabled us to make substantial new purchases (up from £12.5million to £52.6million). These purchases underpin the future of the Company and will ensure future profits.\n \nThe prosperity of the Company is only possible because we have a good team in place and I thank each and every one of them, from the most recent recruit to the longest standing employee, for their loyalty and endeavour.\n \n \n \nDuncan Sinclair\n15 June 2023\n \n \n\n\nMOUNTVIEW ESTATES P.L.C.\nFINANCIAL HIGHLIGHTS\n \n\n\n\n \n\n\n \n\n\n \n2023\n\n\n \n\n\n \n2022\n\n\n \n Increase/\n(Decrease)\n\n\n\n\n \n\n\n \n\n\n£\n\n\n \n\n\n£\n\n\n%\n\n\n\n\nRevenue (millions)\n\n\n\n\n\n73.6\n \n\n\n\n\n\n66.0\n\n\n11.5\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n\n\n\nGross Profit (millions)\n\n\n\n\n\n40.6\n \n\n\n\n\n\n40.9\n\n\n(0.7)\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nProfit Before Tax (millions)\n\n\n\n\n\n32.8\n \n\n\n\n\n\n34.9\n\n\n(6.3)\n\n\n\n\n \n\n\n \n\n\n...