Expected results hence a few selling, but the 23/9/15 statement was one of the reasons I bought in here:
"As a result of these developments, the Board is confident that profits for this financial year, ending 31 August 2016, are likely to be substantially in excess of double the £1.75m anticipated in the financial year ended 31 August 2015. It is also anticipated that this exceptionally strong performance will generate sufficient cash for the Company during the forthcoming year to invest in further projects, some of which are already in the process of being appraised"
· Group revenue growth of 199% to £23.764m (2014: £7.941m) on the back of an increasing workload driven by the current strong London property market;
· Profits before taxation of £2.203m from continuing operations (2014 loss: £0.099m);
· Income of £2.421m recognised from the profit share agreement with Sunbel Development Limited and Pinacle Developments Limited in relation to a development property at Norwich House;
· Receipt of £4.638m in full and final payment of the Group's Aldgate Investment Funds;
· The Group continues to develop its interest in the vibrant property development sector and anticipates profits from its continuing development at 159-161 Iverson Road, London NW6 in the year ending August 2016: and
· The Group strengthened the Board with the appointments of two non-executive directors, David Walsh and Bartholomew O'Keefe, who both have extensive property experience.
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