Sutton Harbour Grp – Half-year Report

Sutton Harbour Grp – Half-year Report

Sutton Harbour Group plc, the AIM-listed marine and waterfront regeneration specialist, announces its interim results for the six-month period to 30 September 2019.

Financial Highlights

 

·      Profit before taxation £0.281m  6 months to 30 September 2018: £0.110m)

·      Net assets £46.013m (31 March 2019: £45.732)

·      Net debt £22.861m (31 March 2019: £21.373m)

·      Gearing 49.7% (31 March 2019: 46.7%)

 

Company Highlights

 

·      Finalising pre-construction preparations for consented schemes at Harbour Arch Quay and Sugar Quay

·      Installation of new Plymouth Fisheries fuel and power servery underway and due to be complete by end of 2019

·      Work underway to increase marinas berthing space and accommodation for a greater number of larger leisure vessels

·      Appointment of Corey Beinhaker as Executive Director and Chief Operating Officer

·      New 4 year long facility agreement with existing company bankers, NatWest, put in place

 

 

“With longer term banking facilities in place the Company is advancing confidently with its objective to self-deliver real estate projects and to continue targeted investment into the asset base to achieve medium term returns and value growth to shareholders.”

Philip Beinhaker, Executive Chairman

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