Coronavirus Update

Mountview Estates Plc - Preliminary Results 2021

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MOUNTVIEW ESTATES P.L.C.

Preliminary Results for the year ended 31 March 2021

CHIEF EXECUTIVE OFFICER'S STATEMENT

I finished this statement last year by saying "I look forward to writing this statement in more normal times next year".  It is now "next year" and whilst some of the post-Brexit problems have been solved and the wonderful vaccination programme is letting us live in less fear of Covid-19, nevertheless the escape and recovery from the Covid-19 constraints and the damage they did to the economy will be with us for some time.

We have not had to furlough any staff nor have we made anyone redundant and our only benefit from any government action has been the stamp duty holiday.  As such we may be considered lucky and we are not in a business that has been closed down to protect us from the pandemic, but I believe that we have made our own luck at least in part.  There has always been at least one accountant at the helm of this business and the years of financial prudence have ensured that we always operate within our means and we have been able to weather the bureaucratic delays caused by the pandemic.

All our performance indicators show an upward trend, in particular Profit before Tax and Earnings per Share show increases of 9.2%, and we feel able to recommend an increase of 12.5% in the Final Dividend from 200 pence to 225 pence per share subject to shareholder approval at the Annual General Meeting on 11 August 2021.

We made good purchases during the year ended 31 March 2021 and have continued to do so since, and I am confident that we will continue to source good opportunities.  We only increase the dividend when we are confident of maintaining that increase and, indeed, we look forward to being able to increase the dividend further.

The Final Dividend, if approved at the Annual General Meeting, will be payable on 16 August 2021 to shareholders on the register at 9 July 2021.