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RNS
Cardiff Property PLC   -  CDFF   

Half-year Report

Released 07:00 08-May-2019

RNS Number : 2905Y
Cardiff Property PLC
08 May 2019
 

 

THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY

AND ITS SUBSIDIARIES

 

FOR RELEASE                                    7.00 AM                                 8 May 2019

 

                                                 THE CARDIFF PROPERTY PLC

LEI: 213800GE3FA4C52CIN05

 

The group, including Campmoss, specialises in property investment and development in the Thames Valley. The total portfolio under management, valued in excess of £26m, is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire.

 

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

Highlights:

 

 

Six months

31 March

2019

(Unaudited)

Six months

31 March

2018

(Unaudited)

Year

30 September

2018

(Audited)

 

Revenue

£'000

320

336

650

 

 

Net assets per share

£

21.84

21.67

21.78

 

 

Profit before tax

£'000

304

715

1,114

 

 

Earnings per share (basic and diluted)

pence

20.1

52.4

80.6

 

 

Interim/total dividend

   per share

 

Pence


4.6


4.4


16.6

 

 

Gearing

%

Nil

Nil

Nil

 

 

 

Richard Wollenberg, Chairman, commented:

 

Investment and letting activity in the Thames Valley commercial property market has seen a slowdown during the first half of the year. Businesses and investors are understandably reluctant to commit expenditure until the current political and economic uncertainties are resolved.

 

As a result, rental growth in the office market has taken a pause with tenants benefitting from competitive rentals. The first few months of the second half of the financial year has not seen any obvious improvement.

 

For further information:

The Cardiff Property plc

Richard Wollenberg

  01784 437444

Shore Capital

       Richard Johnson

020 7601 6100

 

 

 

 

       

 

 

 

THE CARDIFF PROPERTY PLC

 

 

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

 

INTERIM MANAGEMENT REPORT

 

Dear Shareholder,

 

Investment and letting activity in the Thames Valley commercial property market has seen a slowdown during the first half of the year. Businesses and investors are understandably reluctant to commit expenditure until the current political and economic uncertainties are resolved.

 

As a result, rental growth in the office market has taken a pause with tenants benefitting from competitive rentals. The first few months of the second half of the financial year has not seen any obvious improvement.

 

The commercial property investment market continues to remain firm as private and overseas investors are attracted to the high rate of return available compared to other asset classes. As always location, covenant and length of term remain an important factor in determining demand and values. Large industrial units used as distribution centres and located on the outskirts of major conurbations are sought after, especially as planning continues to restrict the availability of such new developments.

 

The Thames Valley retail market is mainly unchanged with some towns suffering increased vacant property whilst others continue to trade well despite obvious pressures. The group's retail assets are primarily based in Egham and Bracknell with both locations benefitting from recent town centre developments.

 

Activity in the residential market has experienced further slowdowns although with asking prices having already reduced typically by some 10% it is yet to be seen if this will stimulate demand. Although subject to recent criticism, various government Help to Buy schemes and the availability of lower cost mortgage finance continues to offer an attractive package to first time buyers. The group's residential activity falls very much within this category. The letting market remains fairly active with rental values holding firm.

 

Financial

For the six months ended 31 March 2019 profit before tax amounted to £0.30m (March 2018: £0.72m; September 2018: £1.11m). This figure includes an after-tax loss from Campmoss Property Company Limited, our 47.62% joint venture, of £0.05m (March 2018: after-tax profit £0.36m; September 2018: after-tax profit £0.34m). 

 

Revenue for the six months to 31 March 2019, represented by rental income, totalled £0.32m (March 2018: £0.34m; September 2018: £0.65m). The group's share of revenue from Campmoss was £0.27m (March 2018: £0.80m; September 2018: £1.37m), represented by rental income of £0.27m (March 2018: £0.59m; September 2018: £0.47m) and property sales of nil (March 2018: £0.21m; September 2018: £0.90m). Rental income and sales figures for Campmoss are not included in group revenue.

 

The comparable figures in brackets relate to the periods six months ending 31 March 2018 and the year ended 30 September 2018.

 

Net assets of the group as at 31 March 2019 were £27.20m (March 2018: £27.26m; September 2018: £27.29m), equivalent to £21.84 per share (March 2018: £21.67; September 2018: £21.78). The company's share of net assets of Campmoss, included on the group balance sheet, amounted to £15.15m (March 2018: £15.22m; September 2018: £15.20m).

 

Your directors are of the opinion that, other than as mentioned in this report, there is no material change in the value of the group's property portfolio as at 31 March 2019.

 

During the six months to 31 March 2019 the company purchased 6,950 of its own shares (March 2018: 5,809; September 2018: 10,809 shares). There have been no material events or material changes in assets, liabilities or related party relationships since 30 September 2018.

 

Current IFRS accounting recommends that deferred tax is chargeable on the difference between the indexed cost of properties and quoted investments and their current market value. However, current IFRS accounting does not require the same treatment in respect of the Group's unquoted investment in Campmoss Property, our 47.62% owned joint venture. The investment in Campmoss is a substantial part of the company's net assets and for indicative purposes a disposal of this investment based on the value in the company's balance sheet at the 31 March 2019 could generate a tax liability of £2.58m (March 2018: £2.59m, September 2018: £2.58m), equivalent to £2.07 per share (March 2018: £2.06, September 2018: £2.06). This information is provided to shareholders as an additional, non-statutory disclosure.

 

Dividend

Your directors have declared an interim dividend of 4.6p (interim March 2018: 4.4p; final September 2018: 12.2p), an increase of 5% which will be paid on 4 July 2019 to shareholders on the register at 31 May 2019.

 

The Investment and Development Portfolio

The group's freehold property portfolio, including those held by Campmoss, continues to be concentrated in the Thames Valley close to Heathrow Airport and to the west of London.

 

The office and retail investment at The White House, Egham, consists of five ground floor retail units and 5,100 sq. ft. net of air-conditioned office space on the upper floor. All retail units are fully occupied. Part of the upper floor office area has recently undergone extensive refurbishment and is now available to let.

 

The Windsor Business Centre, Windsor, comprises four business units totalling 9,500 sq. ft. and The Maidenhead Enterprise Centre, Maidenhead, six business units totalling 14,000 sq. ft. All units are fully let on medium term leases. A recent planning application to extend three of the business units at Windsor has been granted and whilst these units continue to be occupied and available for sale, future development plans are currently being advanced and a decision on works will be made when the opportunity arises.

 

At Cowbridge Road, Cardiff, the property comprises a 14,650 sq. ft. commercial property and is currently let to Royal Mail for use as a mail sorting office. The lease is due to expire shortly and discussions with the tenant are in progress for a renewal of their lease. A planning application to extend the upper floor was submitted last year and discussions with the local authority are being progressed.

 

A freehold residential property in Egham has recently been refurbished and following the grant of planning permission additional space has been created in the roof area as well as an extension of the living space. The property has recently been placed on the market for sale.

 

At Tilehurst, Reading, detailed discussions are taking place with the local planning authority for a revised residential scheme.

 

At Heritage Court, Egham four ground floor retail units are all let on medium term leases. The upper floors were previously sold on a long leasehold basis.

 

Campmoss Property Company Limited and subsidiaries

 

Campmoss continues to implement its development programme and work towards achieving planning permissions for existing assets in the portfolio.  As expected rental income has been affected by obtaining vacant possession of Britannia Wharf, Woking, ahead of achieving a planning permission. The building has now been demolished. New lettings at The Priory Burnham are for similar reasons being restricted to short lease terms.

 

At Alston House, Market Street, Bracknell the development of 10 retail units on ground and first floor and 12 residential units on the 2nd and 3rd floor is expected to complete shortly. Long term leases for five of the retail units have been contracted and the apartments will be marketed for sale following completion of the show home.

 

In Bracknell development of the adjoining building to Alston House known as Westview, Market Street, was completed last year and all retail units on ground and first floor are now let on medium term leases to national and local businesses.

 

At Gowring House, Market Street, Bracknell, three apartments are let on Assured Shorthold Tenancies with two available for sale. The three ground floor retail units are all let on medium term leases.

 

At Britannia Wharf, Woking, Campmoss has been successful in achieving planning permissions for a 83-bedroom care home and as an alternative a residential scheme for 52 apartments. The residential scheme has attracted a number of approaches from developers and discussions are in progress with regard to a joint venture scheme. As mentioned previously vacant possession of the building was achieved last year and the building subsequently demolished.

 

At Clivemont House and Highway House, Maidenhead planning permissions were previously granted for separate office schemes of 48,000 sq. ft. net and 45,000 sq. ft. net. respectively. At Clivemont House as an alternative to a speculative office scheme further discussion are taking place with the local authority with regard to a residential scheme. The cleared site at Highway House is currently let as car parking to a local business.

 

At the Priory, Burnham the 26,000 sq. ft. building comprises new office premises on three floors totalling 17,000 sq. ft. and an adjoining grade II Listed Office Building of 9,000 sq. ft. used as a Business Centre. Part of the offices and Business Centre are currently available on a short-term basis whilst the company is preparing a planning application for re-development of the property.

 

Quoted Investments

The company retains a small portfolio of quoted retail bonds and equity investments. The market value of the portfolio marginally declined in value over the period under review.

 

Relationship Agreement

The company has entered into a written and legally binding relationship agreement with myself, its controlling shareholder, to address the requirements of LR9.2.2AR of the Listing Rules.

 

Outlook

The group continues to work towards achieving beneficial planning grants for existing property assets and to complete lease renewals. Completion of the retail and residential scheme at Alston House, Bracknell is expected to provide additional income and plans to develop the residential scheme at Britannia Wharf, Woking are being advanced. 

 

Inevitably prospects will be influenced by the resolution or otherwise of the current political and economic uncertainty.  The group's strong financial position will allow it to both manage its property assets within a difficult environment and take advantage of opportunities that might become available.

 

I look forward to reporting progress at the financial year end.

 

J Richard Wollenberg

Chairman

8 May 2019

 

 

Condensed Consolidated Interim Income Statement

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

 

 

 

 

 

Six months

31 March

2019
(Unaudited)

£'000

Six months

31 March

2018
(Unaudited)

£'000

Year

30 September

2018

(Audited)

£'000

Revenue

320

336

650

Cost of sales

(25)

(25)

(30)

 

______

______

______

Gross profit

295

311

620

Administrative expenses

(256)

(295)

(536)

Other operating income

287

314

671

 

______

______

______

Operating profit before gains on investment properties and other investments


326


330

 

755

(Deficit)/surplus on revaluation of investment properties

-

-

(25)

 

______

______

______

Operating profit

326

330

730

Financial income

29

25

48

Share of results of joint venture

(51)

360

336

 

______

______

______

Profit before taxation

304

715

1,114

Taxation

(53)

(53)

(101)

 

______

______

______

Profit for the period attributable to equity holders

251

662

1,013

 

______

______

______

 

 

 

 

Earnings per share on profit for the period - pence

 

 

 

Basic and diluted

20.1

52.4

80.6

 

______

______

______

 

 

 

 

Dividends

 

 

 

Final 2018 paid 12.2p (2017: 11.5p)

153

145

145

Interim 2018 paid 4.4p

-

-

55

 

______

______

______

 

153

145

200

 

______

______

______

Final 2018 proposed 12.2p

-

-

153

Interim 2019 proposed 4.6p (2018: 4.4p)

57

55

-

 

______

______

______

 

57

55

153

 

______

______

______

 

These results relate entirely to continuing operations. There were no acquisitions or disposals during these periods.

 

 

 

 

Condensed Consolidated Interim Statement of Comprehensive Income and Expense

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

 

 

 

 

 

 

Six months

31 March

2019
(Unaudited)
£'000

Six months

31 March

2018
(Unaudited)

£'000

Year

30 September

2018
(Audited)

£'000

 

 

 

 

Profit for the financial period

251

662

1,013

 

 

 

 

Other items recognised directly in equity

 

 

 

Net change in fair value of available for sale assets

(62)

(13)

(185)

Net change in fair value of other properties

-

-

(4)

 

______

______

______

Total comprehensive income and expense for the period attributable to equity holders of the parent company

 

189

 

649

 

824

 

______

______

______

 

Condensed Consolidated Interim Balance Sheet

AT 31 MARCH 2019

 

31 March

2019

(Unaudited)
£'000

31 March

2018
(Unaudited)
£'000

30 September

2018

(Audited)

£'000

Non-current assets

 

 

 

5,962

5,863

5,927

296

301

298

15,150

15,224

15,200

824

1,058

886

______

______

______

Total non-current assets

22,232

22,446

22,311

______

______

______

Current assets

 

 

 

675

668

672

108

150

142

3,597

1,851

200

1,375

2,991

4,718

______

______

______

Total current assets

5,755

5,660

5,732

 

______

______

______

Total assets

27,987

28,106

28,043

 

______

______

______

Current liabilities

 

 

 

(685)

(701)

(645)

 

______

______

______

Total current liabilities

(685)

(701)

(645)

 

______

______

______

Non-current liabilities

 

 

 

Deferred tax liability

(98)

(143)

(108)

 

______

______

______

Total non-current liabilities

(98)

(143)

(108)

 

______

______

______

Total liabilities

(783)

(844)

(753)

______

______

______

Net assets

27,204

27,262

27,290

______

______

______

 

 

 

 

Equity

 

 

 

249

252

251

Share premium account

5,076

5,076

5,076

Other reserves

2,525

2,760

2,585

827

997

827

18,527

18,177

18,551

______

______

______

Shareholders' funds attributable to equity holders

27,204

27,262

27,290

______

______

______

 

 

 

 

Net assets per share

£21.84

£21.67

£21.78

 

______

______

______

 

 

Condensed Consolidated Interim Statement of Cash Flows

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

 

 

 

 

Six months

31 March

2019
(Unaudited)
£'000

Six months

31 March

2018
(Unaudited)

£'000

Year

30 September

2018
(Audited)

£'000

 

 

 

 

Cash flows from operating activities

 

 

 

Profit for the period

251

662

1,013

Adjustments for:

 

 

 

Depreciation

2

3

5

Financial income

(29)

(25)

(48)

Share of loss/(profit) of joint venture

51

(360)

(336)

(Deficit)/surplus on revaluation of investment properties

-

-

25

Taxation

53

53

101

 

______

______

______

Cash flows from operations before changes in

working capital


328


333

 

760

Decrease/(increase) in trade and other receivables

36

(57)

(51)

(Decrease)/increase in trade and other payables

(24)

6

(19)

 

______

______

______

Cash generated from operations

340

282

690

Tax paid

-

-

(112)

 

______

______

______

Net cash flows from operating activities

340

282

578

 

______

______

______

 

 

 

 

Cash flows from investing activities

 

 

 

Interest received

28

23

47

Acquisition of investments, and property, plant and equipment


(39)


(71)

 

(168)

(Increase)/decrease in financial assets

(3,397)

(481)

1,170

 

______

______

______

Net cash flows from investing activities

(3,408)

(529)

1,049

 

______

______

______

 

 

 

 

Cash flows from financing activities

 

 

 

Purchase of own shares

(122)

(102)

(194)

Dividends paid

(153)

(145)

(200)

 

______

______

______

Net cash flows from financing activities

(275)

(247)

(394)

 

______

______

______

 

 

 

 

Net (decrease)/increase in cash and cash equivalents

(3,343)

(494)

1,233

Cash and cash equivalents at beginning of period

4,718

3,485

3,485

 

______

______

______

Cash and cash equivalents at end of period

1,375

2,991

4,718

 

______

______

______

         

 

 

 

 

 

 

 

Condensed Consolidated Interim Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 31 MARCH 2019 

 

 

 

 

 

 

 

 

 

Share
capital

    £'000

 

Share
premium
account

£'000

 

 

Other
reserves

£'000

Investment
property
revaluation
reserve

    £'000

 

 

Retained
earnings

£'000

 

 

Total
equity

£'000

 

 

 

 

 

 

 

At 1 October 2017

253

5,076

2,772

997

17,762

26,860

Profit for the period

-

-

-

-

662

662

Other comprehensive income - revaluation of investments


-


-


(13)


-


-


(13)

Transactions with equity holders

Dividends

 

-

 

-

 

-

 

-


(145)


(145)

Purchase of own shares

(1)

-

1

-

(102)

(102)

 

______

______

______

______

______

______

Total transactions with equity holders

(1)

-

1

-

(247)

(247)

 

______

______

______

______

______

______

At 31 March 2018

252

5,076

2,760

997

18,177

27,262

Profit for the period

-

-

-

-

351

351

Other comprehensive income - revaluation of investments

 

 


(172)


-


-


(172)

Revaluation of other property

-

-

(4)

-

-

(4)

Transactions with equity holders

Dividends


-


-


-

 

-


(55)


(55)

Purchase of own shares

(1)

-

1

-

(92)

(92)

 

______

______

______

______

______

______

Total transactions with equity holders

(1)

-

1

-

(147)

(147)

 

______

______

______

______

______

______

Transfer on revaluation of investment properties - Cardiff


-


-


-


(25)


25


-

Transfer on revaluation of investment properties - Campmoss


-


-


-


(145)


145


-

 

______

______

______

______

______

______

At 30 September 2018

251

5,076

2,585

827

18,551

27,290

Profit for the period

-

-

-

-

251

251

Other comprehensive income - revaluation of investments


-


-


(62)


-


-


(62)

Transactions with equity holders

Dividends


-


-


-


-


(153)


(153)

Purchase of own shares

(2)

-

2

-

(122)

(122)

 

______

______

______

______

______

______

Total transactions with equity holders

(2)

-

2

-

(275)

(275)

 

______

______

______

______

______

______

At 31 March 2019

249

5,076

2,525

827

18,527

27,204

 

______

______

______

______

______

______

                 
 

 

 

Statement of Responsibility

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

The directors are responsible for preparing the condensed consolidated interim financial statements for the six months ended 31 March 2019 and they confirm, to the best of their knowledge and belief, that:

 

·      the condensed consolidated set of interim financial statements for the six months ended 31 March 2019 has been prepared in accordance with IAS 34 - Interim Financial Reporting, as adopted by the EU;

·      the interim management report includes a fair review of the information required by:

a)     DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of interim financial statements and a description of the principal risks and uncertainties for the remaining six months of the year; and

b)    DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the group during that period; and any changes in the related party transactions described in the last annual report that could do so.

 

 

J Richard Wollenberg, Chairman

 

Karen L Chandler, Finance director

 

Nigel D Jamieson, Independent non-executive director

 

8 May 2019

 

 

 

Notes to the Condensed Consolidated Interim Financial Statements

FOR THE SIX MONTHS ENDED 31 MARCH 2019

 

1. Basis of preparation

This condensed set of financial statements has been prepared in accordance with IAS 34 - Interim Financial Reporting as adopted by the EU.

 

The annual financial statements of the group are prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU. As required by the Disclosure and Transparency Rules of the Financial Conduct Authority, the condensed set of financial statements has been prepared applying the accounting policies and presentation that were applied in the preparation of the group's published consolidated financial statements for the year ended 30 September 2018.

 

The comparative figures for the financial year ended 30 September 2018 are not the group's statutory accounts for that financial year. Those accounts have been reported on by the group's auditor and delivered to the registrar of companies. The report of the auditor was: unqualified; did not give any reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report; and did not contain a statement under sections 498 (2) or (3) of the Companies Act 2006.

 

Accounting policies

The condensed consolidated interim financial statements have been prepared applying the accounting policies that will be applied in the preparation of the group's financial statements for the year ended 30 September 2019.

 

The only changes to International Financial Reporting Standards which are relevant to the group which have arisen since the last year end are the implementation of IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from contracts with customers). The directors have concluded that the impact of these new Standards is unlikely to be material to the Group and, consequently, in all other respects these condensed consolidated interim financial statements have been prepared on the same basis as the group's financial statements for the year ended 30 September 2019.

 

The directors are still evaluating the impact of IFRS 16 (Leases) which is effective from 1 January 2019.

 

Use of estimates and judgement

The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates.

 

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. The key areas in which estimates have been used and the assumptions applied are in valuing investment properties and properties in the joint venture, in valuing available for sale assets, in classifying properties and in the calculating of provisions.

 

An external, independent valuer, having an appropriate recognised professional qualification and recent experience in the location and category of property being valued, values the company's property portfolio at the end of each financial year. The directors of the joint venture value its portfolio each year; such valuation takes into account yields on similar properties in the area, vacant space and covenant strength. The directors of the group and joint venture review the valuations for the interim financial statements.

 

A provision is recognised in the balance sheet when the group has a present legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.

 

Going concern

The group has sufficient financial resources to enable it to continue in operational existence for the foreseeable future, to complete the current maintenance and development programme and meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to continue to adopt the going concern basis in preparing these interim financial statements.

 

 

Notes to the Condensed Consolidated Interim Financial Statements

FOR THE SIX MONTHS ENDED 31 MARCH 2019 (continued)

 

2. Segmental analysis

The group manages its operations in two segments, being property and other investments and property development. The results of these segments are regularly reviewed by the board as a basis for the allocation of resources, in conjunction with individual site investment appraisals and to assess their performance. Information regarding the revenue and profit before taxation for each reportable segment is set out below:

 

 

 

 

 

 

Six months

31 March

2019

(Unaudited)
£'000

Six months

31 March

2018
(Unaudited)

£'000

Year

30 September

2018
(Audited)

£'000

 

 

 

 

Revenue (wholly in the United Kingdom)

 

 

 

Property and other investments being gross rents

Receivable

 

320

 

336

 

650

 

______

______

______

 

 

 

 

 

 

 

 

Profit before taxation

 

 

 

Property and other investments

206

595

416

Property development

98

120

698

 

______

______

______

 

304

715

1,114

 

______

______

______

 

 

 

 

The operations of the group are not seasonal.

 

3. Taxation

The tax position for the six-month period is estimated on the basis of the anticipated tax rates applying for the full year.

 

4. Dividends

The interim dividend of 4.6p per share will be paid on 4 July 2019 to shareholders on the register on 31 May 2019. Under accounting standards this dividend is not included in the condensed consolidated interim financial statements for the six months ended 31 March 2019.

 

5. Earnings per share

Earnings per share has been calculated using the profit after tax for the period of £251,000 (March 2018: £662,000; September 2018: £1,013,000) and the weighted average number of shares as follows:

 

 

Weighted average number of shares

 

 

 

31 March

2019

31 March

2018

30 September

2018

 

(Unaudited)

(Unaudited)

(Audited)

 

 

 

 

Basic and diluted

1,250,872

1,261,654

1,258,139

 

_________

_________

_________

 

 

  

Directors and Advisers

 

 

Directors

Auditor

J Richard Wollenberg

Crowe U.K. LLP

Chairman and chief executive

 

 

Karen L Chandler FCA

 

Finance director

Stockbrokers and financial advisers

 

Nigel D Jamieson BSc, FCSI

Shore Capital

Independent non-executive director

 

 

 

 

 

Secretary

Bankers

Karen L Chandler FCA

HSBC Bank plc

 

 

 

 

Non-executive director of wholly owned subsidiary

Solicitors

First Choice Estates plc

Blake Morgan LLP

Derek M Joseph BCom, FCIS

 

 

 

 

 

Head office

Registrar and transfer office

56 Station Road

Neville Registrars Limited

Egham, TW20 9LF

Neville House

Telephone: 01784 437444

Steelpark Road

Fax: 01784 439157

Halesowen

E-mail: webmaster@cardiff-property.com

B62 8HD

Web: www.cardiff-property.com

Telephone: 0121 585 1131

 

 

 

 

Registered office

Registered number

56 Station Road

00022705

Egham, TW20 9LF

 

 

 

 

 

 

  

Financial Calendar

 

 

2019

8 May

Interim results for 2019 announced

 

30 May

Ex-dividend date for interim dividend

 

31 May

Record date for interim dividend

 

4 July

Interim dividend to be paid

 

30 September

End of accounting year

 

December

Final results for 2019 announced

2020

January

Annual General Meeting

 

February

Final dividend to be paid

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Half-year Report - RNS