Business
Interim Results
Interim Results.
About this update from Panther Securities Plc
[{"type":"text","content":"\n \nRNS Number : 8668R Panther Securities PLC 26 September 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nPANTHER SECURITIES PLC \n(the \"Company\" or the \"Group\")\n \nInterim results\n \nPanther Securities PLC has today announced its interim results for the six months ended 30 June 2017.\n \nFor further information:\n\n\n\n\n\n\n\n\n\n\n\n\nPanther Securities plc:\n\n\nTel: 01707 667 300\n\n\n\n\nAndrew Perloff/ Simon Peters\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited (Nomad and Joint Broker)\n\n\nTel: 020 3328 5656\n\n\n\n\nDavid Worlidge/ Alex Brearley\n\n\n\n\n\n\n\n \n \nChairman's Statement\n \nI am once again delighted to report our results for the six months ended 30 June 2017 which show a profit of £6,750,000 before tax compared to a loss of £6,627,000 for the same period last year.\n \nRents receivable during the period rose to £6,377,000 compared to £6,333,000 in the half year to 30 June 2016.\n \nOnce again, our results are heavily influenced by the interest rate swaps liability which this half year showed a positive movement of £2,454,000 compared to last half year's £7,983,000 negative movement. As stated previously this movement does not have a cash effect.\n \nHowever, even without taking this reduction in swap liability into account, we have still performed extremely well with several major transactions completed in the period or in progress.\n \nDevelopment Progress\n \nHolloway Head, Birmingham\nOur wholly owned subsidiary, Panther Developments Limited, exchanged contracts for the sale of the entire freehold and long leasehold interests in this major development opportunity. We had built up this site over thirty years and had twice received planning permission for redevelopment. We could not unfortunately take advantage because it had not been possible to obtain the adjoining owner's full co-operation at that time. \n \nHowever, about two years ago we received an extremely attractive, detailed planning permissio...