Business
Final Results for the year ended 31 March 2011
Final Results for the year ended 31 March 2011.
About this update from Sutton Harbour Group Plc
[{"type":"text","content":"\n \nRNS Number : 4485I Sutton Harbour Holdings PLC 15 June 2011 \n \n\n \nFor Immediate Release 15 June 2011 \n \nSutton Harbour Holdings plc\nFinal Results for the year ended 31 March 2011\nA return to core activities\n \nSutton Harbour Holdings plc (\"Sutton Harbour\"), the AIM listed regeneration and infrastructure specialist, announces final results for the year ended 31 March 2011.\n \nIn his statement to shareholders, Chairman Michael Knight said:\n\"The airline and Plymouth City Airport have recently been a major cash drain for the Group and significant losses have been incurred. Our recent actions will mean that the Group's exposure to cash volatility and the associated business risks will be significantly reduced going forward. We have a clear strategy which means we will be concentrating our resources, time and efforts on marine and regeneration activities where we have proven successes over the years. We have a high quality asset base which is being developed further; some exciting opportunities to extend these activities; and, a good project pipeline for the future.\"\n \nFinancials:\n \n· Revenues for the period of £12.27m (2010: £17.65m)\n· Operating profit (continuing operations), before fair value adjustments on investment property, of £2.3m (2010: profit of ...