Smart (J) & Co Regulatory News (SMJ)

5 Jun 2008 13:07



J SMART & CO (CONTRACTORS) PLC

5 June 2008

INTERIM MANAGEMENT STATEMENT

(for the period 1st February 2008 to date)

Site operations in contracting, private housing and property development are all proceeding satisfactorily.

Private house sales are slow.

Commercial and industrial rental and occupation levels are currently buoyant. Unlike other areas of the U.K. demand for property in our sphere of operations in the Central Belt of Scotland is healthy.

However, it is still too early to say whether or not the improving rental and occupation levels will compensate for the drop in yields experienced in the first half of the current financial year. Accordingly it is not possible at this stage to make a realistic forecast of the year end headline profit figure dependant as it is on the value of our property portfolio as required by the International Financial Reporting Standards.

There have been no significant or material post balance sheet events since 31 January 2008, therefore I see no reason to alter my forecast in the Interim Report that, subject to unforeseen circumstances, the underlying profit for this year will be not less than £8,000,000.

J.M. SMART

Chairman