AGM Statement

Highcroft Investments PLC
23 May 2007


23 May 2007
                           HIGHCROFT INVESTMENTS PLC

                                Statement at AGM


This year there have been two changes to the structure of the information sent
to shareholders.

The first was the separate proxy form and with it an attendance card.

The second was the requirement for the directors to include a business review.
In doing this we have shortened the chairman's statement but included greater
detail in the directors' report and we hope that shareholders will have found
the information of interest.

This is our second year of reporting under international standards but
shareholders may be pleased to note that the annual report is actually four
pages shorter than last year - and has a slightly larger font size!

Turning to the key highlights shown on page 1:

  • Gross property income in 2006 was £2,038,000 up 6.3% from £1,917,000 in
    2005.  This was mainly determined by the investments in Staines and London.
  • Operating profit after tax in 2005 was £1,500,000 up 9.8% from £1,366,000
    in 2005.  This result benefited, amongst other things, from special
    dividends received on some of our equity holdings.
  • Dividends in respect of the year totaled 13.7p up 8.3% on 2005.
  • Net asset value was up 9.5% to 830p with net assets up from £39 million to
    almost £43 million.


Finally, just to update you on a couple of items mentioned in the business
review:

One of our shareholders has spotted that the investment at Staines is described
on page 8 as costing £2.99m whereas in the Interim Report for 2006 it was
inaccurately described as costing £3.054m.  The higher figure should have been
described as being the total expenditure on property in the first half of the
year - that is, including expenditure to date on the residential development in
Cirencester.

Last, on page 9, we report that office buildings were sold in March this year.
Shareholders may be interested to know that the proceeds have been used to
reduce our borrowings.




                      This information is provided by RNS
            The company news service from the London Stock Exchange