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26 Jun 2008 15:51
FLETCHER KING PLC
Trading Statement
Fletcher King ("the Company"), the London based Property Fund Managers and Chartered Surveyors today announces a trading update for the year ending 30th April 2008.
In its Interim Management Statement of the 27th February 2008, the Company announced that it anticipated the profit out-turn at the end of the year would be marginally lower than that anticipated at the half year. Fletcher King now expects pre-tax profits for the year ending 30th April 2008 to be ahead of market expectations albeit materially lower than the results achieved last year
The profits will be ahead of market expectations as a result of marginally better activity in the last quarter than had been anticipated together with a reduced overhead resulting from the swift action taken by the board to reduce running costs in anticipation of the falling market.
The Company believes the coming year will be difficult and that turnover and profits will fall significantly. The preliminary results for the year ending 30th April 2008 will be announced on 10th July 2008.
David Fletcher
Fletcher King
Tel: 020 7493 8400
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