Artisan (UK) PLC
13 October 2005
Artisan (UK) plc
Trading Statement
Artisan (UK) plc ('Artisan' or 'the Company'), the AIM listed residential
housing and business park developer today issues the following trading statement
ahead of the interim results for the six months to 30 September 2005, which it
expects to announce on 29 November 2005.
In the interim results statement, the Company expects to confirm that Artisan
has achieved an improvement in sales compared with the previous interim period
30 September 2004 in both the Rippon Homes residential housing and the Artisan
(UK) Developments commercial business park subsidiary. The Company anticipates
that trading margins will be only slightly down compared with the previous
interim period.
Despite absorbing the costs associated with the departure of the previous Chief
Executive, we expect our interim announcement to demonstrate the achievement of
results broadly similar to those announced for the six months to 30 September
2004.
These resilient results are achieved in the face of a less than favourable
housing market for the majority of the period under review. At the very end of
this six month period we are seeing signs of improved consumer activity. Actual
sales remain largely dependant on part exchanges and sale assistance packages.
However our careful management of the Company's part exchange programme has
maintained Artisan's ability to assist customers in committing to their purchase
of a new home.
The residential land buying team is providing an encouraging number of land
acquisition opportunities, a number of which are now moving forward. In
particular we expect to complete shortly on a substantial new site for a minimum
of 76 units in Mansfield.
The commercial market has remained steady and we are pleased with the continuing
returns that Artisan Developments has achieved. We have now agreed terms on one
new site and made an offer on one further site, with the intention of replacing
those sites where the majority of units have been sold. We will continue to seek
further sites to modestly expand the number of outlets in order to improve sales
opportunities.
The outlook for the remainder of the year remains dependant upon the normal
seasonal improvement in demand expected in the Autumn and Spring 2006
translating into actual sales in the residential market and the current market
conditions remaining in place for our commercial business parks.
Enquiries to:
Artisan (UK) plc: Chief Executive 01480 436666
Chris Musselle email@artisan-plc.co.uk
Seymour Pierce Nominated advisers 020 7107 8000
Sarah Wharry
Bankside Consultants Financial PR advisers 020 7367 8888
Simon Rothschild 07703 167065
Company website: www.artisan-plc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
EN
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