AIM-listed marine and waterfront regeneration specialist Sutton Harbour posted a decline in revenue for the six months to September 30th prompting a sharp decline in its share price on Wednesday. The Plymouth-based group's interim results showed that revenue had fallen to £3.93m in the half year to September 30th from £6.06m in the corresponding period in 2011. Gross operating profit before administration costs and asset impairments fell to £1.49m from £2.74m in the corresponding period last year. Michael Knight, Chairman of Sutton Harbour, commented: "During the first half year trading has continued in line with our expectations of challenging trading conditions and we have been implementing specific strategies to build profile and to target new markets. The company has established its position as a niche real estate operator specialising in waterfront destinations and associated marine activities. We are actively pursuing our plans for the delivery of King Point Marina and marketing of berths; making progress with future ideas for "Destination Sutton Harbour" as well as the former airport site; and, managing the Sutton Harbour estate for long-term income and asset growth." The group provides berthing for 573 vessels. Its share price was down 15.71% to 29.50p at 15:48 on Wednesday afternoon.
12 Dec '12
Scientific Digital Imaging (SDI) Director name: Mr Kenneth Ford Amount purchased: 100,000 @ 11.00p Value: £11,000
12 Dec '12
Today's interim results are clearly not ideal but the company remains on a strong financial footing with ambitious and realistic strategic plans. It's a shame the market's are so fickle, and that's why the SP has taken a hammering today. Personally I think this share is a good long term bet but we'll have to wait for the economy to start picking up properly and, hopefully, for SUH to finally off load the old Plymouth Airport site. As usual DYOR and of course... ... best of luck (I'm sure it will all turn out just fine !). I am Buchaneer.
3 Nov '12
Thanks very much. I will follow your posts from now on you seem like a really decent kind along with Zatcha and stocktrade. i'll let you know my secret one when I have purchased the shares would be good if you could do the same for me. thank you.
3 Nov '12
dont know it very well but id say the post you refer to makes allot of sence on that bb without research its hard to tell but if a placing is pending mid month can keep sp containe or push down unless great news comes out , not allot of help but from a quick look .
3 Nov '12
I just wondered what you thought of tpet - tangiers petroleum. I made some money there and they have a placing in the middle of the month and everyone is mentioning that it will drop back but after that have you looked at it before? Cheers you seem like a good fellow.
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