Mountview Est. Regulatory News (MTVW)

15 Aug 2007 10:37

Mountview Estates PLC15 August 2007 INTERIM MANAGEMENT STATEMENT Interim Management Statement - 15 August 2007 Mountview Estates P.L.C. ("the Group"), which holds its AGM today at 11.30ampublishes its first Interim Management Statement, as required by the UK ListingAuthority's Disclosure and Transparency Rules covering the period from thebeginning of the Group's financial year, 1 April 2007 to date. Total revenue for the thirteen weeks to 30 June 2007 was almost 5% higher thanthe same period last year. However at this early stage it is difficult toforecast the revenue for the full six months. Trading is in line with the Board's expectations and purchasing activity hasbeen strong. For the period from 1 April 2007 to 15 August 2007 our purchaseexpenditure matched the total for the year ended 2006/2007 and this gives us asolid base for our future sales. We are confident that this trend is going tocontinue despite an ever increasingly competitive market place. As at 30 June 2007 the Group has increased its loan with Barclays Bank to £25million in order to facilitate its purchases, and has renegotiated itsfacilities with HSBC Bank. There have been no other significant changes in the position of the Company overthe period since the publication of its Report and Accounts for the year ended31 March 2007. Overall, the Board continues to be pleased with the progress being made. Theresults for the six months ending 30 September 2007 will be announced inNovember 2007. This information is provided by RNS The company news service from the London Stock Exchange