Last checked at 21 Apr 2015 07:00
21 April 2015
Sutton Harbour Holdings plc ("the Company")
Pre-Close Announcement
Sutton Harbour Holdings plc announces its trading update for the year ended 31 March 2015.
Trading continued in line with the Board's expectations through the second half year. As previously reported, lettings of vacant properties advanced the occupancy rate to 93.3% with further lettings being agreed, subject to lease, since the year end. Plymouth Fisheries achieved record fish landings during the twelve months to 31 March 2015, car parking revenues continued good year on year growth and the marina businesses improved on occupancy levels for the full 2014/15 season.
During the year, the Company undertook scheduled capital infrastructure projects to renew the floating walkways in the lock, maintain and replace the Sutton Lock footbridge bearings and construct a new ice plant facility to improve handling capacity and achieve cost efficiencies at Plymouth Fisheries.
In addition, in February, planning consent was granted for the 'Boardwalk' scheme in the Vauxhall Quay area of Sutton Harbour, Plymouth, an important early milestone in the 'Vision for Sutton Harbour' initiative to establish Sutton Harbour, Plymouth as a recognised visitor destination of regional importance and national significance.
The Company expects full year trading results to be in line with market expectations. The full year results will also incorporate non-cash valuation adjustments for the Company's assets as at 31 March 2015. The Company expects to make preliminary announcement of the results for the year ended 31 March 2015 in late June 2015.
For further information, please contact:
Sutton Harbour Holdings plc Jason Schofield - Chief Executive Natasha Gadsdon - Finance Director
| 01752 204186 |
Arden Partners James Felix Ciaran Walsh
| 0207 614 5900 |
Yellow Jersey PR Philip Ranger | 07768 534641 |
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.