AGM Statement

RNS Number : 5136Y

Sutton Harbour Holdings PLC

09 September 2015

 

9 September 2015

SUTTON HARBOUR HOLDINGS PLC

("Sutton Harbour Holdings" or "the Company")

Annual General Meeting Statement

The Chairman of Sutton Harbour Holdings PLC intends to issue the following statement to shareholders attending today's AGM.

"The following is an update on our strategic priorities:

·     Satisfactory progress continues in all of our core trading activities;

·     Our essential infrastructure improvement programme is progressing on schedule;

·     Good progress is being made towards optimising value from our land inventory.

The letting of the 6,900 sq ft (641m²) Jamaica House to Boston Tea Party which opened in July 2015, together with two additional recent lettings totalling 3,500 sq ft (325m²) has increased the investment property occupancy rate to 96.6%.

Following a record breaking year, Plymouth Fisheries has continued to record strong seasonal landings with improving fuel and ice sales. Car parking revenues continue to grow steadily. Occupancy at King Point Marina and trading at The Marina at Sutton Harbour are in line with the Board's expectations.

With the new ice plant complete, the installation of a new chiller and shore-side facilities will see the realisation of the fisheries' major infrastructure upgrade which will increase capacity, improve operational efficiencies, reliability and energy consumption. This project has been supported by matched grant funding.

Preparatory work continues for The Boardwalk development which received planning consent earlier this year. Discussions regarding pre-letting of the two larger restaurants and one smaller unit are now at an advanced stage. The proposed new development for the Sugar House site at East Quay is taking shape with strong interest being shown by potential occupiers and specialist developers.

The Company is actively engaging with the Department for Transport and other parties as regards the Government review of the former Plymouth airport site which was announced in the March 2015 budget. We will update shareholders when we are in a position to do so."

 Ends

Sutton Harbour Holdings plc Jason Schofield - Chief Executive Natasha Gadsdon - Finance Director	01752 204186
Arden Partners James Felix / Ciaran Walsh	0207 614 5917
Yellow Jersey PR Philip Ranger	07768 534 641

Notes to Editors

Sutton Harbour Holdings plc (SUH) is an AIM listed company specialising in marine operations, waterfront regeneration and destination creation in Plymouth and South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries. Operational activities include mixed use lettings, car parking and support services to harbour users, property management and regeneration and asset enhancement.

Sutton Harbour Holdings plc is committed to being the leading marine and waterfront regeneration specialist in Southern England, and to positioning Sutton Harbour in Plymouth as a destination of national interest.

 

END

 

 

AGMSSLSAUFISELU