LONDON (Thomson Financial) - Property Recycling Group PLC said its first
half pretax and revenues fell sharply from last year which included 400,000 stg
from realisations and some one off income from the sale of aggregates.
The company said its pretax for the six months ended June 30 was 75,405 stg
compared to 379,439 stg last year.
Revenue for the same period fell to 406,190 stg from 984,251 stg last year.
This is the first result of the group to be stated under International
Financial Reporting Standards.
The company said it sees continued demand for land for industrial,
commercial and residential development especially in Eastern and South Eastern
England.
It also said it is investigating joint ventures and acquisitions for which
its bankers have agreed in principle to provide facilities of up to 30 mln stg
to fund future acquisitions.
The company maintained its interim dividend of 0.5 pence per share.
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