Business
Preliminary Results
Preliminary Results.
About this update from Sutton Harbour Group Plc
[{"type":"text","content":"\n \nRNS Number : 3633H Sutton Harbour Holdings PLC 19 June 2013 \n \n\n \n19 June 2013\n \nSUTTON HARBOUR HOLDINGS PLC (\"the Group\")\n \nPreliminary results for the year ended 31 March 2013\n \nSutton Harbour Holdings plc (\"Sutton Harbour\", \"the Company\"), the AIM listed waterfront regeneration and destination specialist, announces preliminary results for the year ended 31 March 2013.\n \nHighlights\n \n \nOperational Highlights\n \n· Construction started of King Point Marina at Millbay, due for completion in September 2013\n· Launch of Destination Sutton Harbour initiative\n· Reconfiguration of berths in Sutton Harbour Marina to cater for larger vessels\n· Submission of representations for development of the former airport site through formal planning policy process\n \nFinancial\n \n· Revenues at £7.0m (2012: £9.9m)\n· Gross operating profit* £2.720m (2012: £3.969m)\n· Loss before tax £3.679m (2012: consolidated profit before tax from continuing operations: £0.655m) \n· Year-end net debt £17.4m (2012: £15.8m); gearing: 47.5% (2012: 38.2%)\n· Net assets £36.6m (2012: £41.5m) or 38.0p (2012: 43.1p) per share\n*Before accounting for impairments and administration costs\nMichael Knight, Chairman, commented:\n\"Trading in the first few weeks of the new financial year is consistent with the prior period as we enter the busier summer marina and car parking season. The second half is typically more lucrative for the fisheries business. The Company is now streamlined, benefiting from its balanced portfolio and emphasis on active asset management. It is, therefore, well-positioned to react quickly to an upturn in occupier demand for many of its exciting development opportunities. It is also looking forward to incorporating the new King Point Marina into the business later this year.\"\nFor further information, please contact\n \n \n\n\n\n\nSutton Harbour Holdings plc\nJason Schofield - Chief Executive\nNatasha Gadsdon - Finance Director\n \n\n\n01752 204186\n\n\n\n\nArden ...