Interim Management Statement

RNS Number : 8645Q

Mountview Estates PLC

11 August 2010

 



Interim Management Statement - 11 August 2010

Mountview Estates P.L.C. ("the Group"), which holds its AGM today at 11.30AM, publishes its Interim Management Statement covering the period from the beginning of the Group's financial year, 1 April 2010 to date.

Profits for the first quarter to 30 June 2010 are up by nearly 37% compared with the same period last year. This start is exceptional but, if the coming months prove to be more difficult, it is comforting to know that we have already generated some good profits.

Interest rates are artificially low and are now expected to remain at this level for some months to come. However the new government's plans to reduce the budget deficit will necessarily mean that it is a delicate balance between repaying debt and keeping a growing economy. Thus it is uncertain how the housing market will be affected.

There have been no significant changes in the Company's position since the publication of its Report and Accounts for the year ended 31 March 2010. The Board remains confident of the Company's financial stability and, whilst pleased to have repaid so much debt, is conscious of the need to make the purchases which will ensure the future profitability of the Company.

The results for the six months ending 30 September 2010 will be announced on 2 December 2010. 

 

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