Slide 1: Marine Operations and Waterfront Destination Specialist
Marine Operations and Waterfront Destination Specialist Preliminary Announcement of Results for the year ended 31 March 2016 June 2016 Graham Miller – Chairman Jason Schofield – Chief Executive Natasha Gadsdon – Finance Director
Slide 2: Key facts
Sutton Harbour Holdings plc Key facts • Marine Operations and Waterfront Destination Specialist Net Asset Value Revenue -543 berths in two marina locations £40.9m £6.509m -Plymouth Fisheries (2nd largest in England) -391 public car park spaces PBT No. of -144,533 sq ft of commercial investment £1.59
Slide 3: Financial Year 2015/16 Financial Highlights
Financial Year 2015/16 Financial Highlights Trading Result 31 March 2016 31 March 2015 Profit before tax £1.590m £0.861m Profit before tax (excluding £0.410m £0.347m revaluation, impairments) Balance Sheet 31 March 2016 31 March 2015 Net Assets £40.869m £40.459m Net Asset Value per share 42.4p 42.0p
Slide 4: Company strategy overview
Company strategy overview Current priorities • Maximising future growth potential - Strategic Review* process underway • Realisation of development inventory - representations to Plymouth Plan, stakeholder consultation and preparation of evidence in advance of public enquiry - marketable scheme prop
Slide 5: Results: Income Statement
Results Income Statement • Revenue Summary Income 31 Mar ‘16 31 Mar ‘15 Statement £000 £000 - revenue reduction due to fall in oil price. Revenue 6,509 6,955 - 2016 fuel sales £1.901m (2015: £2.492m), on same volume but improved margin Cost of sales (3,960) (4,528) Impairment (272) (403) • Gross Pro
Slide 6: Results: Balance sheet
Results Balance sheet • Non current assets 31 March 31 March 2016 2015 - incorporating JLL valuation as at 31 Mar ‘16 £000 £000 - portfolio growth partly offset by revaluation Non-current assets 46,645 46,084 of airport chattels and occupied property Current assets - unexpected SDLT impact - Invento
Slide 7: Results: Cash position and banking
Results Cash position and banking • Highlights Net debt movement Lease Net Bank Total 12m to 31 March 2016 Financing Debt - ice plant equipment re-financed Opening net debt (£0.1m) (£21.4m) (£21.5m) through Lombard facility - infrastructure expenditure on chillers Movement (£0.3m) (£0.4m) (£0.7m) •
Slide 8: Results: Segmental performance
Results Segmental performance • Overall Revenue 31 March 31 March 2016 2015 - steadily improving annuity contributions £000 £000 with no development profits Real Estate 1,580 1,513 • Real Estate Car Parking 480 422 - improved income following new lettings Regeneration - - • Car Parking Marine 4,449
Slide 9: Property and regeneration: The investment portfolio
Property and regeneration The investment portfolio • General Investment Portfolio at 31 March 31 March valuation 2016 2015 - general improvement reflecting recent £000 £000 lettings; notably The Stable and Boston North Quay House 3,425 3,275 Tea Party Barbican Market estate 3,825 2,500 • Barbican Ma
Slide 10: Property and regeneration: The owner-occupied portfolio
Property and regeneration The owner-occupied portfolio • Sutton Harbour Marina Owner occupied portfolio 31 31 at valuation £000 March March ₋ reclassification of £909k Quay Road space to 2016 2015 investment properties £000 £000 Plymouth Fisheries Owner Occupied Portfolio – at valuation ₋ incorporat
Slide 11: Property and regeneration: Current project inventory
Property and regeneration Current project inventory • Sites around Sutton Harbour Project inventory 31 March 31 March 2016 2015 - Marine statutory consents awaited for £000 £000 the planning approved ‘Boardwalk’ Sites around Sutton 8,104 7,861 scheme. (7,800 sq ft F&B space) Harbour - Sugar House, E
Slide 12: Summary
Summary The Vision • to further develop Sutton Harbour as a leading visitor destination New Development • market ready schemes for new development at Sutton Harbour Core activities • recent investment to drive medium term growth Funding • ‘Strategic Review’ by Rothschild to examine options to overco
Slide 13: Contact us
Contact us at: Tin Quay House, Sutton Harbour, Plymouth PL4 0RA Tel: 01752 204186 www.sutton-harbour.co.uk - Year End Presentation - 31 March 2016 - 13