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5 Feb 2009 09:09
Interim Management Statement
Mountview Estates P.L.C. ("the Group") publishes its Interim Management Statement covering the period from the beginning of the Group's financial year, 1 April 2008 to date.
Revenue for the 9 months to 31 December 2008 is ahead of the previous year but profit from operations is down by 25%. Extra funding was raised to make the acquisitions of 2007 and 2008 and thus net finance costs for the period have almost doubled and so profit before taxation is down by over 40%.
These figures are merely a reflection of current market conditions and are in line with the Board's expectations. The Group continues to be on a sound financial footing and has already started to reduce its borrowings.
The greatest problem for any commercial organisation is the uncertainty in the marketplace.
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