Last checked at 17 Dec 2015 07:00
17 December 2015
Harworth Group plc
Pre-close Trading Update
Harworth ("Harworth" or the "Group"), the property regeneration specialist, today updates the market on trading for its financial year ending 31 December 2015.
The Group has continued to deliver good operational progress during the second half of the year and will benefit from gains on disposals to be completed before the year-end. This strong performance, coupled with the indicative outcome of the independent annual valuation of the property portfolio, is expected to result in a financial performance which is significantly ahead of the Board's expectations for the year.
Owen Michaelson, Harworth Chief Executive, commented: "The Group had a strong first half of the year as highlighted at the time of our interim results in August. The positive momentum has continued into the fourth quarter, which has normally shown a strong result for the property business, and is now expected to exceed our expectations on the back of sales and planning approvals which in turn will improve the valuation of our portfolio."
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For further information:
Harworth Group plc Tel +44 (0) 114 30 30 880
Owen Michaelson, Chief Executive
Mike Richardson, Finance Director
Cardew Group Tel: +44 (0)20 7930 0777 /
Anthony Cardew / Emma Crawshaw 07971 468 308
Notes to Editors:
Harworth Group Plc (LSE: HWG) is a leading property and development company which owns and manages a portfolio of some 27,000 acres of land across approximately 200 sites located throughout the Midlands and North of England. The Company specialises in the regeneration of former coalfield sites and other brownfield land into employment areas, new residential properties and low carbon energy projects. (http://www.harworthgroup.com/)