Business
AGM Statement
AGM Statement.
About this update from Workspace Group Plc
[{"type":"text","content":"\n RNS Number : 3942W Workspace Group PLC 28 July 2009 \n \n\n\n\nWorkspace Group PLC (the 'Company')\n\nAnnual General Meeting Statement\n\nThe Chairman made the following statement at today's annual general meeting of the Company held at 11 a.m. at Magenta House, 85 Whitechapel Road, London E1 1DU.\n\n'Your Company is performing in line with our expectations at June. Enquiries and occupancy, which are two of our key performance indicators, are holding up well. We are encouraged that demand for our space remains stable. \n\nThe immediate income yield on our core property portfolio, excluding development and refurbishment properties, is 8.5%. This is based on current passing rent and although softer than at the start of the year, we have some useful contracted increases in the pipeline.\n\nOur balance sheet remains sound and we are pleased to note the rate of decline in property values has begun to slow. Our properties now have a capital value of £127 psf which is below the replacement cost. \n\nLooking to the future, the business environment is expected to remain challenging. Workspace is, we believe well positioned. Our focus for the near term will be to continue to manage churn, to maintain or improve occupancy and, as a result, to maintain cash flow. '\n\n\nDate: 28 July 2009 \n\nFor further information contact: \n\n\n\n\nWorkspace Group PLC \n\n\nTel: +44 (0)20 7369 2273 \n\n\n\n\nHarry Platt, Chief Executive \n\n\n\n\n\n\n\nGraham Clemett, Finance Director \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCity Profile \n\n\nTel: +44 (0)20 7448 3244 \n\n\n\n\nJonathan Gillen \n\n\n\n\n\n\n\nWill Attwell \n\n\n\n\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGMRPMMTMMJTBML \n ","length":3906,"tagName":"div"}]