(Alliance News) - Fletcher King PLC on Wednesday said political uncertainty in the UK is to continue dragging on the property services firm's profitability.
Revenue for the financial year to April 30 was flat at GBP3.1 million, Fletcher King reported, with pretax profit marginally higher at GBP282,000 from GBP274,000 in financial 2018.
It will be paying a final dividend of 0.75 pence per share, taking the year's total to 1.75p, flat on the previous year.
"Performance for the year turned out very much in line with last year despite challenging market conditions," said Chair David Fletcher.
"Ongoing political and Brexit uncertainties are likely to continue to negatively impact the UK property markets in which we operate, and it will be increasingly difficult to maintain profitability. However, our strong balance sheet is significant in such times and secures our ability to maintain dividend payments to shareholders."
Lettings and sales in the UK property market are being "severely" constrained, Fletcher King said, and the company said the future is becoming even more difficult to predict.
Shares were untraded on Wednesday morning, last quoted at 44.56p each.
Fletcher King (FLK)