Last checked at 2 Feb 2012 07:00
Interim Management Statement - February 2012
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 2011, to date.
The Group continues to perform well taking into account a background of very poor economic circumstances. Revenue is down by 18% compared with the equivalent period last year, but the further increase in net finance costs has reduced net profit by 21%. Good sale prices continue to be achieved in the London area and the Group has continued to make purchases on a selective basis.
The Group is well placed to take advantage of any improvement in economic conditions and if conditions continue to be difficult, committed borrowing facilities which mature in 2014/2015 leave it in a financially strong position to trade through those difficulties.