Business
Notice of Results and Results
Notice of Results and Results.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n RNS Number : 2007D Sirius Real Estate Limited 27 November 2009 \n \n\nSIRIUS REAL ESTATE LIMITED (\"Sirius\" or the \"Company\")\nNotice of results and results preview\n\nSirius Real Estate Limited, the real estate company established to acquire large mixed-use commercial sites for upgrading to flexible workspaces in Germany, will be reporting interim results for the period ended 30 September 2009 on Monday 7 December 2009.\nA presentation to analysts will be held on the day at J.P. Morgan Cazenove (20 Moorgate, London EC2R 6DA) at 9.30am.\nThe Company is pleased to report that it expects the property valuations to be stable over the 6 month period, and despite some anticipated tenant departures, the total revenue for the six months to 30 September is expected to be in line with market expectations. Recent letting activity has been encouraging and Sirius continues to demonstrate its ability to attract tenants at above market rates and significantly higher than the rates of vacating tenants.\nThe investment in initiatives to impro ve cost recoverability and to reduce direct costs within the business has continued over the 6 month period. As a result of the cost of this investment continuing, profits for both the 6 months to 30 September 2009 and for the full year to 31 March 2010 are likely to be below currently available market estimates. This investment is expected to result in material operational efficiencies and cost savings in the following financial years.\nEnquiries:\nPrinciple Capital Sirius Real Estate Asset Management Limited Kevin Oppenheim, CEO 020 7632 4130Alistair Marks, CFO\n\nCardew Group Tim Robertson  ...