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Mountview Estates Plc - Half-Year Report

 

MOUNTVIEW ESTATES P.L.C.

("Mountview" or "the Group" or "the Company")

UNAUDITED INTERIM RESULTS FOR THE HALF YEAR ENDED 30 SEPTEMBER 2019 

Mountview is pleased to announce its unaudited interim results for the six months ended 30 September 2019

OUR PERFORMANCE

Turnover at £29.9 million down by 1.0% (2018 - £30.2m)

Gross profit at £19.1 million up by 2.7% (2018 - £18.6m)

Profit before tax at £17.4 million up by 9.4% (2018 - £15.9m)

Earnings per share at 361.1 pence up by 9.5% (2018 - 329.9p)

Net assets per share at £95.7 up by 3.8% (2018 - £92.2)

DIVIDEND INFORMATION 

Mountview Estates P.L.C. advises its shareholders that, following the issue of the interim results, the relevant dates in respect of the interim dividend payment of 200p per share are as follows:

Ex-dividend date        20 February 2020

Record date                21 February 2020

Payment date              30 March 2020

Chief Executive Officer's Statement

CHIEF EXECUTIVE OFFICER'S STATEMENT

At the Annual General Meeting held on 7 August 2019 those shareholders deemed to be independent exercised their right to reject the re-appointments of Mr Anthony Powell and Mrs Mhairi Jarvis as independent non-executive directors.  At the General Meeting held in accordance with the Listing Rules of the Financial Conduct Authority on 18 November 2019, when all shareholders were entitled to vote, it was resolved to re-appoint Mr Anthony Powell and Mrs Mhairi Jarvis as directors of the Company.  Thus the status quo is maintained.

TRADING

The uncertainty surrounding Brexit continues and whilst the Company is perhaps less vulnerable than most businesses to the economics of the rest of Europe, we all need the stability of an economy with a long term strategy.

Happily the figures of Our Performance on the previous page all show increases and we continue to make good purchases.  The Company has low gearing and remains financially sound.

INTERIM DIVIDEND

The interim dividend is maintained at 200p per share in respect of the year ending 31 March 2020 and is payable on 30 March 2020 to shareholders on the Register of Members as at 21 February 2020. 

OUTLOOK

With continuing good purchases and sound financial planning the Company is well placed to take advantage when the country's economic strategy can be planned with greater certainty.