Artisanal Sp.co Regulatory News (ART)

7 Jun 2007 07:01

Artisan (UK) PLC07 June 2007 News Release 7 June 2007 Artisan (UK) plc Trading update Artisan (UK) plc ('Artisan' or 'the Company'), the housebuilder and commercialbusiness park developer, is pleased to announce the following trading update inrespect of the fifteen months to 30 June 2007. Whilst both the residential and commercial divisions have, at this stage, asubstantial element of profit still to result from transactions expected to becontracted and completed prior to 30 June 2007, the Board believes that, takingthese into account, the profit before tax for the fifteen month period should becomfortably ahead of market expectations. The period will show the benefit fromthe revaluation of land at Colmworth Business Park in St Neots, a unit of whichArtisan recently announced would be retained as part of its strategy of keepingselected properties from its development portfolio as investment properties. The gradual increase in interest rates has not adversely affected performance inthe period, although the Board believes that the most recent rise has started tohave an effect on confidence in both the residential and commercial markets. Artisan will issue a further trading update after the close of the accountingperiod. Artisan (UK) plc Chris Musselle Chief Executive 01480 436666email@artisan-plc.co.uk Brewin Dolphin Securities Nominated advisers 0121 236 7000Limited Ifor Williams Bankside Consultants Financial PR advisers 020 7367 8888 Simon Rothschild 07703 167065Louise Mason Company website: www.artisan-plc.co.uk This information is provided by RNS The company news service from the London Stock Exchange