Business
Final Results - Replacement
Final Results - Replacement.
About this update from Sutton Harbour Group Plc
[{"type":"text","content":"\n Sutton Harbour Holdings PLC\n24 May 2007\n\n\nThe following replaces the Preliminary Results announcement released at 7.00a.m. \nunder RNS number 1370X. The full segmental analysis of the Company is included.\n\n\n SUTTON HARBOUR HOLDINGS PLC\n\n\n Preliminary Results for the year ended 31 March 2007\n\n\n\nChairman's Statement\n\nYear ended 31 March 2007\n\n\nI am pleased to report that your Company has consolidated the significant\nadvances made last year and has achieved another year of profit growth. Our\nregeneration sector, with its increasing portfolio of projects, made the largest\ncontribution to profits in the year. Our transport activities achieved only a\nmodest profit having encountered various trading difficulties. In many ways this\nhas been a challenging year and I would like to congratulate and thank the\nexecutive directors and all the staff for their hard work and dedication.\n\n\nProfit before taxation is up 23% on last year to £4.212m (2006: £3.420m) and\nearnings per share have also advanced 23% to 12.09p (2006: 9.81p). Total\noperating profit of £3.226m (2006: £3.596m) excludes the profit of £2.1m on the\nsale of fixed assets which includes the sale of the building occupied by the\nDepartment for Works and Pensions (DWP). Your Company's strategy to develop a\nbalanced business portfolio remains justifiable in achieving sustainable profit\ngrowth and we can expect contributions from our different business sectors to\nvary from year to year. Gearing has reduced to 23.1% at the year end (2006:\n44.5%).\n\n\nYour Board proposes a final dividend of 2.55p, which added to the interim\ndividend of 1.5p paid in January 2007, gives a total dividend for the year of\n4.05p per share. This represents an increase of 6.6% when compared with last\nyear's total dividend of 3.8p per share. The final dividend will be payable on\n24 August 2007 to shareholders on the register on 10 August 2007. The shares are\nexpected to go ex-dividend on 8 August 2007. The Board is also proposing a one\nfor one share capitalisation issue but before this can occur our authorised\ncapital will have to be increased. An appropriate resolution will be put to\nshareholders at the Annual General Meeting.\n\n\nResults from our regeneration sector (excluding the profit on sale of the DWP\nbuilding) have almost doubled from last year. Your Co...