Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHelical Bar Regulatory News (HLCL)

Share Price Information for Helical Bar (HLCL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 218.00
Bid: 216.50
Ask: 219.50
Change: 0.00 (0.00%)
Spread: 3.00 (1.386%)
Open: 224.50
High: 224.50
Low: 216.00
Prev. Close: 218.00
HLCL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Interim Management Statement

11 Jul 2008 07:00

RNS Number : 8464Y
Helical Bar PLC
11 July 2008
 



11 July 2008

Helical Bar plc ("Helical" / "Company")

Interim Management Statement for the first quarter to 30 June 2008

Helical Bar announces an encouraging start to its financial year, despite the challenges presented by current market conditions.

The deterioration in the commercial and residential property markets has continued over the last three months, with resulting ongoing falls in values. As a property company holding assets in a declining market, Helical cannot be immune from the negative impact of this process. 

However, the binding commitments entered into by the Company during the first quarter should deliver a higher level of development profits than secured during the whole of the last financial year provided completions occur as anticipated later in this financial year. This should continue to underpin Helical's relative outperformance of the property sector.

Key activity:

At Fieldgate StreetLondon E1, the Company has obtained planning consent for 350 student residential units and 14,000 sq ft of retail. Having acquired the site in the last financial year, contracts have been exchanged to sell the site to a student homes operator/developer with legal completion in 2009.

Following our work in partnership with landowners National Grid UK Pension Fund in promoting a 4.5 acre riverside industrial site at Nine Elms, London SW8 for a major residential-led regeneration scheme, the property has been sold to a Middle Eastern consortium for £80m. Helical is now entitled to the first part of a substantial profit related fee, with the main payment due in the second half of the financial year when the final payment is made for the site.

At Scotts Road, Southall, the Company has just completed the 166,000 sq ft first phase of its industrial development with Chancerygate. 45,000 sq ft has already been sold for £7.9m with further sales under negotiation. 

Sales of sites and buildings at Stockport and Hailsham have raised a further £2.6m.

Helical has completed its 160,000 sq ft refurbishment of the former David Morgan department store in Cardiff and added new lettings to Molton Brown and Shoon with a further unit due to sign next week, leaving just 6% of the new retail space vacant.

Cash receipts of £12.3m have arisen during the quarter from completions of forward sales of residential units at Cardiff and residential and retail units at C4.1 Milton Keynes.

Helical continues to make good progress in pre-letting its retail warehouse schemes in Poland which now total over 1 million sq ft of space. All three projects are now at least 50% pre-let.

Commenting on the Company's activity, Mike Slade, Chief Executive, said:

"We have delivered good progress in the year to date by continuing to apply our skills to a wide portfolio of activities. In particular, we continue to focus on our model of unlocking value in special situations to deliver relative outperformance in challenging market conditions."

For further information, please contact:

Helical Bar

Mike Slade/Nigel McNair Scott

Tel: 020 7629 0113

Financial Dynamics

Stephanie Highett/Dido Laurimore/Laurence Jones

Tel: 020 7831 3113

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSSFWFWSSASEFW
Date   Source Headline
18th Sep 20137:00 amRNSHelical Bar Acquires Multi-Sector Portfolio
13th Sep 20137:00 amRNSHelical acquires Huddersfield Retail Park
12th Sep 201312:14 pmRNSCompany Secretary Change
23rd Aug 20135:27 pmRNSNotification of Major Interest in Shares
1st Aug 20135:31 pmRNSNotification of Major Interest in Shares
25th Jul 20133:44 pmRNSResult of AGM
25th Jul 20132:31 pmRNSHELICAL ACQUIRES OFFICE IN LONDON'S "TECH BELT"
24th Jul 20137:00 amRNSInterim Management Statement
24th Jul 20137:00 amRNSForward Funding and Disposal
19th Jul 20132:00 pmRNSNotice of IMS
1st Jul 20134:35 pmRNSPrice Monitoring Extension
25th Jun 201312:06 pmRNSDirector/PDMR Shareholding
25th Jun 201310:17 amRNSNotice of AGM
21st Jun 201312:02 pmRNSDirector/PDMR Shareholding
12th Jun 20133:21 pmRNSSizing Announcement
11th Jun 201311:00 amRNSRe early closure of retail bond offer period
7th Jun 201311:51 amRNSNew £75m Revolving Credit Facility
4th Jun 20134:51 pmRNSHELICAL BAR LAUNCHES SEVEN YEAR 6.00% RETAIL BOND
4th Jun 20134:46 pmRNSPublication of Prospectus
23rd May 20137:01 amRNSFurther progress towards development milestones
23rd May 20137:00 amRNSPreliminary Results
14th May 20139:15 amRNSNotice of Results
27th Mar 201311:26 amRNSDirector/PDMR Shareholding
19th Mar 20135:46 pmRNSDirector/PDMR Shareholding
19th Mar 201311:24 amRNSLONDON PROPERTY TOUR
7th Mar 201311:18 amRNSHolding(s) in Company
5th Mar 201312:18 pmRNSHolding(s) in Company
18th Feb 201312:29 pmRNSDirector Declaration
14th Feb 20137:00 amRNSInterim Management Statement
11th Feb 20134:23 pmRNSDirector Declaration
11th Feb 20134:16 pmRNSDirector Declaration
7th Feb 20139:45 amRNSNotice of Interim Management Statement
21st Dec 20125:34 pmRNSDirector/PDMR Shareholding
12th Dec 201210:08 amRNSDirector/PDMR Shareholding
27th Nov 201212:00 pmRNSAcquisition
22nd Nov 20127:00 amRNSHalf Yearly Report
21st Nov 201212:26 pmRNSHELICAL BAR ACHIEVES PLANNING AT BARTS SQUARE
17th Oct 201212:13 pmRNSNotice of Results - Replacement
17th Oct 201211:35 amRNSNotice of Results
27th Sep 20124:21 pmRNSDirector/PDMR Shareholding
25th Jul 20127:00 amRNSDirectorate Change
25th Jul 20127:00 amRNSResult of AGM
24th Jul 20127:00 amRNSInterim Management Statement
20th Jul 201212:55 pmRNSNotification of Major Interest in Shares
29th Jun 20122:48 pmRNSAnnual Financial Report and Notice of AGM
21st Jun 20127:00 amRNSDirectorate Change
1st Jun 201212:29 pmRNSDirector/PDMR Shareholding
25th May 20127:00 amRNSFinal Results
3rd May 20128:59 amRNSNotice of Results
10th Apr 201210:05 amRNSNotification of Major Interest in Shares

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.