Artisan (UK) PLC
25 May 2001
ARTISAN (UK) PLC ENTERS INTO CONDITIONAL CONTRACTS TO SELL BICKERTON
CONSTRUCTION LTD AND DRIVERS CONSTRUCTION LTD
The Directors of Artisan (UK) Plc are pleased to announce today that they have
entered into conditional contracts to sell Bickerton Construction Ltd and
Drivers Construction Ltd.
The two regional contractors no longer form part of the core activities, being
residential and commercial property developments. The development activity of
Drivers has been retained and will form a Residential Development business, to
be based in Mid-Hertfordshire.
In the year to March 2001, both Bickerton and Drivers achieved operating
profits of £862,000 including £1.34million non-recurring income.
The businesses will be sold for a total consideration in cash and debt assured
of £2.65million and are expected to show Artisan £2.01million profit before
expenses.
The preliminary results are expected early July.
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Enquiries:
Artisan (UK) Plc
Chris Musselle, Finance Director 01480 436 666
Cater Barnard plc
Stephen Dean, Chairman 0870 066 0830
Seymour Pierce Ltd 0207 648 8700
Sarah Wharry