Business
Preliminary results for year ended 31 March 2018
Preliminary results for year ended 31 March 2018.
About this update from Sutton Harbour Group Plc
[{"type":"text","content":"\n \nRNS Number : 9831S Sutton Harbour Holdings PLC 29 June 2018 \n\n \n29 June 2018\n \nSUTTON HARBOUR HOLDINGS PLC (\"the Group\")\n \nPreliminary results for the year ended 31 March 2018\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 2018.\n \nHighlights\n· The Strategic Review culminated in a change in majority ownership with FB Investors LLP acquiring 72.65% of the share capital.\n· The Company awaits the report from the Government Inspector on the proposed Plymouth and South West Devon Joint Local Plan\n· Planning Applications submitted or in progress for three Sutton Harbour area schemes: Harbour Arch Quay, Sugar Quay and Harbour Car Park\n· Another record year for Plymouth Fisheries Hub: £21.0m fish throughput value\n \n \nFinancial\n \n· Adjusted loss before tax* £0.136m (2017: profit £0.331m)\n· Net financing costs £0.90m (2017: £0.96m)\n· Net Assets £39.3m (2017: £40.1m)\n· Year-end net debt £21.9m (2017: £22.5m)\n*Before accounting for costs of change in ownership, fair value adjustments on assets, impairments and provisions for onerous leases\nPhil Beinhaker, Chairman, commented:\n\"The investment in the Company by, and the proven experience of, FB Investors LLP has provided fresh impetus to accelerate making Sutton Harbour a destination of regional importance and national significance, building upon the strengthening of existing activities, with the development of new residential, retail, commercial and leisure amenities.\"\n \nFor further information, please contact\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 Partners (Nomad and Broker)\nPaul Shackleton\n \n\n\n020 7614 5924\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n \nChairman and Chief Executive's Statement\nYear Ended 31 March 2018\n \nShareholders' Overview\nHighlights\n· The Strate...