Trading Statement

RNS Number : 3311J

Harworth Group PLC

17 December 2015

 

17 December 2015

Harworth Group plc

Pre-close Trading Update

Harworth ("Harworth" or the "Group"), the property regeneration specialist, today updates the market on trading for its financial year ending 31 December 2015.

The Group has continued to deliver good operational progress during the second half of the year and will benefit from gains on disposals to be completed before the year-end. This strong performance, coupled with the indicative outcome of the independent annual valuation of the property portfolio, is expected to result in a financial performance which is significantly ahead of the Board's expectations for the year.

Owen Michaelson, Harworth Chief Executive, commented: "The Group had a strong first half of the year as highlighted at the time of our interim results in August.  The positive momentum has continued into the fourth quarter, which has normally shown a strong result for the property business, and is now expected to exceed our expectations on the back of sales and planning approvals which in turn will improve the valuation of our portfolio."

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For further information:

Harworth Group plc                                                                 Tel [phone]

Owen Michaelson, Chief Executive

Mike Richardson, Finance Director

Cardew Group                                                                        Tel: [phone] /

Anthony Cardew / Emma Crawshaw                                                      07971 468 308

Notes to Editors:

Harworth Group Plc (LSE: HWG) is a leading property and development company which owns and manages a portfolio of some 27,000 acres of land across approximately 200 sites located throughout the Midlands and North of England. The Company specialises in the regeneration of former coalfield sites and other brownfield land into employment areas, new residential properties and low carbon energy projects. (http://www.harworthgroup.com/)

 

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