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15 Oct 2009 11:01
Pochin's PLC ("The Group") Interim Management Statement
This Interim Management Statement covers the period from 1 June 2009 to date, the majority of which is covered by the statements of both the Chairman and Chief Executive in the Annual Report and Accounts dated 22 September 2009.
The Construction division continues to perform creditably in difficult trading conditions, winning a number of useful contracts during the period. Good progress is being made towards the successful completion of the large projects at HQ Chester and Welsh Assembly Government buildings at Llandudno.
The Concrete Pumping division continues to suffer from a low level of activity and an excess of capacity in the national market in which it operates.
It is encouraging to note that the prolonged and severe decline in commercial property prices has come to a halt according to the latest Investment Property Database UK Monthly Index. While the Property division is experiencing steady levels of occupancy in its investment portfolio, development activity is likely to remain subdued. The Residential division continues to pursue its stated aim of realising its investment in both built homes and housing land in a controlled manner.
Group debt has remained stable during the period and the previously reported emphasis on cost control is being maintained.
Richard FildesChairmanPochin's PLC15 October 2009Enquiries:Pochin's PLC
John Moss, Chief Executive 01606 833 333
John Edwards, Finance Director
Charles Stanley Securities
Philip Davies/Rick Thompson 020 7149 6457
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