Sutton Harbour Holdings plc ('Sutton Harbour', 'the Company'), the AIM listed marine and waterfront regeneration specialist, announces its interim results for the six month period to 30 September 2015.
Financial Highlights
Profit before tax of £1.261m (2014: £0.661m);
Adjusted* profit before tax £0.249m (2014: £0.155m);
Net assets of £41.530m (31 March 2015: £40.459m);
Net assets per share 43.1p (31 March 2015: 42.0p);
Net debt £22.256m (31 March 2015: £21.458m).
*Excluding fair value adjustments
Operational Highlights
Completion of further lettings around Sutton Harbour boosting occupancy rate to 96.2% (31 March 2015: 93.3%)
Grant supported infrastructure programme continuing with new chiller project completed November 2015
Confirmed that the 2016 Trans Atlantic Race departs from Plymouth and is to be hosted at Sutton Harbour for the second time
Graham Miller, Chairman, commented:
'The Group has successfully improved the profitability and sustainability of core activities. The renewal of essential operational infrastructure has been, and will continue to be, a key part of this strategy. The Group remains focused on work towards realisation of key inventory sites, including the former airport site and Sugar House to facilitate a planned reduction in debt in due course.'
For further information, please contact:
Sutton Harbour Holdings plc
Jason Schofield - Chief Executive
Natasha Gadsdon - Finance Director
01752 204186
Arden Partners
James Felix
020 7614 5917
Yellow Jersey
Philip Ranger
07768 534641
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