Pacific Global Share Price (PCH)

Anyone else see the late RNS about the potential offer?

Interesting!

Pochin's PLC Preliminary Results for the year ending 31 May 2012 Pochin's PLC ("Pochin" or "the group") the construction and property group announces its preliminary results for the year ending 31 May 2012. Chairman's statement The group result for the year ended 31 May 2012 shows a loss of £3.3m after tax (2011: £3.4m), of which £2.0m (2011: £4.4m) arose from discontinued activities. There was an operating profit on continuing activities of £1.7m (2011: £4.5m) before adverse property revaluations and impairments of investments and inventories, which in total amounted to £2.9m. The directors do not recommend payment of a final dividend. In my statement a year ago, I referred to two key steps which were prerequisites for restoring the group's fortunes. First, there was the implementation of the board's decision to dispose of the concrete pumping division. This took longer than the board intended, and the division remained part of the group for the whole of the year under review but, as has been separately reported, the disposal was finally achieved with the sale of Pochin Concrete Pumping Limited to Alcedo Limited, announced on 31 July 2012. The business continues under new ownership and it is appropriate to thank the 108 employees, transferred with it, for their forbearance over a long period of uncertainty. The second key step was the settling of the group's liabilities arising out of the Liverpool office joint ventures. This was achieved in September 2011. There has been a need for impairments in other joint venture investments in the year to 31 May 2012, but the settlement of the Liverpool exposure represented an important turning point for the group. Looking forward, the group now consists of two core divisions, namely construction and property development and investment. The group's construction activity, in contrast to that of the concrete pumping business, stems mainly from the private sector. It is to be hoped that recent Government announcements aimed at stimulating the construction industry, within the confines of restricted public expenditure, will have some effect in re-invigorating the market in which the construction business principally operates. It seems inevitable that the group's property development and investment division will have to endure a further period of subdued market conditions. The combination of reduced demand for commercial property, notably in the retail sector, together with the tightened criteria now applied by banks to property lending, has taken its well-publicised toll both on values and on development activity in the regional property market. In the context of the above, each of the two remaining divisions has performed creditably during the year. Construction revenue increased during the year, and the current order book suggests a maintained level of activity. While the majority of its contracts are in

Pochin trading update disappoints investors By Michael Millar Date: Wednesday 26 Oct 2011 LONDON (ShareCast) - Cheshire-based construction firm Pochin upset investors today by announcing there had been "no discernible improvement" in the regional property and construction markets in which the group operates. Shares in the firm fell 5% in morning trading following the interim management statement. The firm said its construction division continued to perform "creditably in a difficult market" and had maintained a healthy forward order book. It also said that the firm's property division was seeing steady levels of occupancy in its investment portfolio and its previously announced programme of non-core property disposals was ongoing. Porchin also reiterated that negotiations with a prospective purchaser of its concrete pumping division were continuing.

Interim Management Statement This Interim Management Statement covers the period from 1 June 2011 to date. The Chairman's Statement and the Business Review included in the announcement dated 30 September 2011 of the annual results for the year to 31 May 2011 ("the Preliminary Announcement") set out the trading and financial position of the Group at that time. This statement provides an update on the Group's current position. The Construction division continues to perform creditably in a difficult market and a healthy forward order book is being maintained. The Property division is maintaining steady levels of occupancy in its investment portfolio and the previously announced programme of non-core property disposals continues. As previously outlined in the Preliminary Announcement, negotiations with a prospective purchaser of the Concrete Pumping division are continuing. There is no discernable improvement in the regional property and construction markets in which the Group operates.