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12 Aug 2009 11:00
Interim Management Statement - 12 August 2009
Mountview Estates P.L.C. ("the Group"), which holds its AGM today at 11.30A.M., publishes its Interim Management Statement covering the period from the beginning of the Group's financial year, 1 April 2009 to date.
Profits for the first quarter to 30 June 2009 are up by over 17% compared with the same period last year. A strong start is always very welcome but it does not guarantee a good result for the whole year.
Interest rates are significantly lower than they were last year and may well remain at their present exceptionally low level throughout the Group's financial year. The savings made in this way and the continuing reduction in the Group's borrowings will give a very useful boost to profitability. The Board continues to put an emphasis on the repayment of debt.
There have been no significant changes in the Company's position since the publication of its Report and Accounts for the year ended 31 March 2009. The Board remains confident of the Company's financial stability in what continues to be a very difficult economic climate. The results for the six months ending 30 September 2009 will be announced on 26 November 2009.
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