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Pin to quick picksSutton Harbour Holdings Regulatory News (SUH)

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Company Update

29 Apr 2021 14:27

RNS Number : 1149X
Sutton Harbour Group PLC
29 April 2021
 

29 April 2021

Sutton Harbour Group plc (the "Company")

Company Update

Trading Update

The Company reports that the trading results for the financial year ended 31 March 2021 will reflect the effects of the restrictions imposed by the UK Government to control the spread of Coronavirus. During the Lockdown imposed across the whole of the fourth quarter, the impact was similar to that of the Spring/Summer 2020 restrictions. Car parks revenues, an important cash generating activity for the Company, fell to minimal levels and fisheries activity was slow, whilst the marinas maintained their resilient performance and rent collections were steady through the period, with a small number tenants failing to meet their rental obligations.

With the restrictions gradually being reduced since the year end, activity levels are showing improvement and the Sutton Harbour area is busy with the public making good use of open air bars and cafes. Sales of marina berths for the season starting 1 April 2021 have been the strongest ever recorded at both Sutton Harbour and King Point with a strong uptick in occupancy as the appeal of leisure boating increases. Additional pontoons have been installed at King Point Marina to cater for the demand for larger vessel berthing and they were immediately fully let.

Valuation

The Company's investment and owner occupied property assets were valued by independent valuers as at 31 March 2021 at £49.245m (31 January 2020: £45.985m). The increase of £3.260m includes the acquisition of a new site adjacent to Sutton Harbour, valued at £1.925m, which was completed in December 2020. The owner occupied portfolio assets of the marinas, fisheries and car parks, valuation has increased to £29.475m (31 January 2020: £27.000m), the increase largely reflecting the strong trading performance of the marinas business.

Bank

The Company has continued to maintain close contact with its bankers and before the year end completed the extension of an additional £2m Revolving Credit Facility for a further year until May 2022 to provide additional support as our businesses recover from the impact of the Lockdowns.

The Company expects to announce its results for the year ended 31 March 2021 in early July 2021.

 

For further information, please contact

 

Sutton Harbour Group plc

Philip Beinhaker - Executive Chairman

Corey Beinhaker - Chief Operating Officer

Natasha Gadsdon - Finance Director

 

01752 204186

Arden Partners (Nomad and Broker)

Paul Shackleton

Benjamin Cryer

 

020 7614 5924

 

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Date   Source Headline
13th Apr 201711:50 amRNSForm 8.5 (EPT/NON-RI)
5th Apr 20172:49 pmRNSForm 8.3 - Sutton Harbour Holdings Plc
24th Jan 20172:55 pmRNSForm 8.3 - Sutton Harbour Holdings Plc
6th Jan 201711:50 amRNSForm 8.5 (EPT/NON-RI)
20th Dec 201611:50 amRNSForm 8.5 (EPT/NON-RI)
16th Dec 20165:30 pmRNSPLYMOUTH AIRPORT NOT VIABLE WITHOUT PUBLIC SUBSIDY
15th Dec 20167:00 amRNSInterim results
5th Dec 201612:30 pmRNSForm 8.5 (EPT/NON-RI) AMENDMENT
1st Dec 201611:50 amRNSForm 8.5 (EPT/NON-RI)
30th Nov 201611:50 amRNSForm 8.5 (EPT/NON-RI)
21st Nov 201612:17 pmRNSForm 8.5 (EPT/NON-RI)
2nd Nov 201611:50 amRNSForm 8.5 (EPT/NON-RI)
6th Oct 20162:18 pmRNSForm 8.3 - Sutton Harbour Holdings PLC
6th Oct 201611:50 amRNSForm 8.5 (EPT/NON-RI)
4th Oct 201611:50 amRNSForm 8.5 (EPT/NON-RI)
26th Sep 201611:49 amRNSForm 8.5 (EPT/NON-RI)
20th Sep 201611:50 amRNSForm 8.5 (EPT/NON-RI)
16th Sep 20162:19 pmRNSForm 8.5 (EPT/NON-RI)
8th Sep 20169:52 amRNSResult of AGM
7th Sep 20162:46 pmRNSAnnual General Meeting Statement
28th Jun 20167:00 amRNSPreliminary Results for Year Ended 31 March 2016
15th Jun 201611:50 amRNSForm 8.5 (EPT/NON-RI)
13th May 20161:56 pmRNSForm 8.3 - Sutton Harbour Holdings PLC
6th May 20164:41 pmRNSForm 8.3 - Sutton Harbour Holdings plc
6th May 20161:07 pmRNSForm 8.3 - Sutton Harbour Holdings plc
5th May 20164:11 pmRNSForm 8.3 - Sutton Harbour Holdings PLC
5th May 20164:00 pmRNSForm 8 (OPD) (Sutton Harbour Holdings plc)
25th Apr 20167:00 amPRNForm 8.3 - Sutton Harbour Holdings Plc
22nd Apr 20161:52 pmRNSForm 8.3 - Sutton Harbour Holdings Plc
22nd Apr 20161:49 pmRNSForm 8.3 - Sutton Harbour Holdings Plc
22nd Apr 201611:50 amRNSForm 8.5 (EPT/NON-RI)
21st Apr 20162:00 pmRNSRule 2.10 Announcement
21st Apr 20167:00 amRNSPre-Close Announcement and Strategic Review
4th Apr 20167:00 amRNSNotification to Shareholders
4th Mar 20167:00 amRNSRENEWED AND EXTENDED BANK FACILITIES
1st Dec 20157:00 amRNSInterim Results
5th Nov 201510:20 amRNSPLYMOUTH TO HOST INTERNATIONAL SAILING RACE 2016
10th Sep 20157:00 amRNSResult of AGM
9th Sep 201512:00 pmRNSAGM Statement
1st Sep 20152:33 pmRNSDirector/PDMR Shareholding
23rd Jun 20157:00 amRNSFinal Results
27th Apr 20152:09 pmRNSPROPERTY LEASE UPDATE
21st Apr 20157:00 amRNSPre-Close Announcement
26th Feb 20157:01 amRNSProperty Letting Update
13th Feb 201510:30 amRNSPlanning Consent Granted for 'Boardwalk' Scheme
20th Jan 20157:00 amRNSChange of Auditor
2nd Dec 20147:00 amRNSHalf Yearly Report
10th Nov 20147:00 amRNSProperty Letting Update
3rd Sep 20143:30 pmRNSResult of AGM
3rd Sep 201412:00 pmRNSAGM Statement

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