REG - Cardiff Property PLC - Half-year Report

Cardiff PropertyAnnouncement

30/04/2020 07:01

RNS Number : 3910L
  
Cardiff Property PLC
  
30 April 2020
  
 

 
THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY
AND ITS SUBSIDIARIES
 
FOR RELEASE                                    7.00 AM                                 30 April 2020
 
                                        THE CARDIFF PROPERTY PLC
LEI: 213800GE3FA4C52CIN05
 
The group, including Campmoss, specialises in property investment and development in the Thames Valley. The total portfolio under management, valued in excess of £30m, is primarily located to the west of London, close to Heathrow Airport and in Surrey and Berkshire.
 
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 
Highlights:




 


 


Six months
31 March
2020
(Unaudited)


Six months
31 March
2019
(Unaudited)


Year
30 September
2019
(Audited)




 




Net assets          


£'000


28,135


27,204


28,343




Net assets per share


£


23.03


21.84


22.85




Profit before tax


£'000


387


304


1,653




Earnings per share (basic and diluted)


pence


24.9


20.1


123.1




Interim/total dividend per share


 Pence


4.8


4.6


17.1




Gearing


%


Nil


Nil


Nil




 
Richard Wollenberg, Chairman, commented:
 
We are experiencing unprecedented and uncertain times. The property market endured three years of protracted Brexit negotiations and now the physical restrictions and economic concerns surrounding the Covid-19 pandemic. The Thames Valley property market has historically proved resilient to fluctuations in the wider UK market and whilst I expect this to remain it is extremely concerning to view the potential long-term damage caused to growth and stability by the necessary and important government lockdown measures.
 
For further information:




The Cardiff Property plc


Richard Wollenberg


  01784 437444
 




Shore Capital


       Patrick Castle


020 7468 7923
 




 


 


 



 
 
 
 



 
 
 
THE CARDIFF PROPERTY PLC
 
 
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 
 
 
INTERIM MANAGEMENT REPORT
 
 
Dear Shareholder,
 
We are experiencing unprecedented and uncertain times. The property market endured three years of protracted Brexit negotiations and now the physical restrictions and economic concerns surrounding the Covid-19 pandemic. The Thames Valley property market has historically proved resilient to fluctuations in the wider UK market and whilst I expect this to remain it is extremely concerning to view the potential long-term damage caused to growth and stability by the necessary and important government lockdown measures.
 
In the first quarter, September to December 2019, commercial property lettings and rent reviews were successfully completed. Residential lettings were similarly active with rental values remaining unchanged. Inevitably since early January activity in all sectors of the property market has been placed on hold. The commercial property investment market has slowed down albeit investors continue to search for income as benchmark interest rates have again moved lower.
 
In the current environment across the group we are liaising and assisting tenants who have requested a deferment of rent, these include agreeing to monthly payments in arrears rather than quarterly in advance and part payment allowed from rental deposits held.
 
The waiving of business rates, deferral of VAT payments, salary support and business grants should assist a number of our tenants. We are not proposing to accommodate a waiver of rent preferring to assist with cash flow where possible.
 
FINANCIALS
For the six months ending 31 March 2020 profit before tax amounted to £0.39m (March 2019: £0.30m; September 2019: £1.65m). This figure includes an after-tax loss from Campmoss Property Company Limited ("Campmoss") our 47.62% joint venture of £0.03m (March 2019 after tax loss £0.05m; September 2019 after tax profit £0.90m).
 
Revenue for the six months to 31 March 2020 represented by rental income totalled £0.34m (March 2019: £0.32m; September 2019: £0.65m). The Groups share of revenue from Campmoss was £0.32m (March 2019: £0.27m; September 2019: £0.53m), represented by rental income of £0.32m (March 2019: £0.27m; September 2019: £0.53m) and property sales of nil (March 2019: nil; September 2019: nil). Rental income and sales figures for Campmoss are not included in group revenue.
 
Net assets of the group as at 31 March 2020 were £28.14m (March 2019: £27.20m; September 2019: £28.34m) equivalent to £22.99 per share (March 2019: £21.84; September 2019: £22.85). The Company's share of net assets in Campmoss included on the group balance sheet amounted to £14.93m. (March 2019: £15.15m; September 2019: £15.60m). The  directors have taken into account recent RICS guidance and whilst there is currently a greater level of uncertainty due to COVID-19 on balance ,as mentioned, there are no material change in the investment value of the group's property portfolio as at 31 March 2020. The freehold investment properties held by Cardiff will be professionally valued at 30 September 2020.
 
During the six months to 31 March 2020 the company purchased for cancellation 18,362 Ordinary Shares (March 2019: 6,950 Ordinary Shares;  September 2019: 12,567 Ordinary Shares). There have been no material events or material changes in assets liabilities or related party relationships since 30 September 2019.
 
Current IFRS accounting recommends that deferred tax is chargeable on the difference between the indexed cost of properties and quoted investments and their current market value. However, current IFRS does not require the same treatment in respect of the group's unquoted investments in Campmoss, the 47.62% owned joint venture, which represents a substantial part of the company's net assets.
 
Whilst provision is made in Campmoss accounts for deferred tax, should the shares held in Campmoss be disposed of, for indicative purposes, based on the value in the company's balance sheet at 31 March 2020 this would result in a tax liability of £2.84m (March 2019: £2.58m; September 2019: £2.65m) equivalent to £2.29 per share  (March 2019: £2.07; September 2019 £2.14) calculated using a tax rate of 19% (March 2019: 17%; September 2019: 17%). This information is provided to shareholders as an additional, non-statutory, disclosure.
 
DIVIDEND
The directors have declared an interim dividend of 4.8p (interim March 2019: 4.6p; final September 2019: 12.5p) an increase of 4.3% which will be paid on 2 July 2020 to shareholders on the register at 29 May 2020.
 
THE INVESTMENT & DEVELOPMENT PORTFOLIO
The group's freehold property portfolio including those held by Campmoss, continues to be concentrated in the Thames Valley close to Heathrow Airport and to the west of London.
 
The Windsor Business Centre, Windsor, comprises of four business units totalling 9,500 sq. ft. and is fully let currently on short term leases. Planning permission to increase the existing space to a total of 19,000 sq. ft. was recently obtained and detailed plans are currently being prepared.
Office rents in Windsor have risen substantially over the past few years and any development decision will depend on market factors. In the meantime, the existing units remain available for sale.
 
Maidenhead Enterprise Centre, Maidenhead, comprises of six individual business units totalling 14,000 sq. ft. and is fully let. A new letting was recently agreed at an increased rental.
 
At The White House, Egham, the five ground floor retail units are all let. Part of the upper floor office space, which recently underwent extensive refurbishment, is available for let. The Property is centrally located in the High Street and benefits from excellent parking facilities.
 
Heritage Court, Egham, comprises of four retail units all of which are let. The upper residential floors were previously sold on a long leasehold basis.
 
At Cowbridge Road, Cardiff, the lease to Royal Mail for use as a Sorting Centre has expired and negotiations for a new short-term lease are in progress. A revised planning application for a new retail and residential building is currently being prepared.
 
The company occupies its own freehold offices in Egham. Following extensive refurbishment of a residential freehold property in Egham agents have been appointed to market for sale.
 
CAMPMOSS PROPERTY COMPANY LIMITED & SUBSIDIARIES
During the first half of the financial year Campmoss continued to actively manage their property portfolio including new lettings, preparation of new planning applications to existing freehold buildings, completion of development projects and sales and lettings of the residential portfolio.
 
The majority of retail tenants are those located at Market Street Bracknell, Berkshire close to the main railway station and adjacent to the recently developed Lexicon Shopping Centre. Whilst a number of essential retail outlets remain open for business those that have closed their operations should be eligible to access Government Grants and other Business support packages.
 
Alston House, Market Street, Bracknell, comprises of ten retail units on ground and first floor and twelve  residential units on the second and third floor. Six retail units are now let to local businesses leaving four currently available. Six of the residential units have been let on Assured Shorthold Tenancy Agreements with the remaining six apartments available for sale or letting.
 
I would draw shareholders attention to my earlier comments regarding the group's ongoing contact with retail tenants and practical measures to assist with cash flow where necessary.
 
At Britannia Wharf, Woking, development of the recently approved 52 residential apartment scheme has commenced with completion, subject to any further government measures, expected by the end of 2021. The construction, funded by Campmoss, is being undertaken as a joint venture with a well-known Surrey based construction and development company.
 
At Clivemont House, Clivemont Road, Maidenhead, planning permission was recently granted for a residential scheme totalling 80 apartments. Discussions are currently in progress to ascertain the group's future plans for this site.
 
At The Priory, Stomp Road, Burnham, the 26,000 sq. ft. building comprises 17,000 sq. ft. new office space over three floors and an adjoining Business Centre occupying 9,000 sq. ft. The new offices are let on medium term leases with break clauses whilst part of the Business Centre is available. Alternative uses for the property are currently being considered.
 
STAFF
I wish to take this opportunity on behalf of shareholders to thank our small management team for their support in these challenging and unprecedented times. Liaising and managing our tenant portfolio and actively responding to the fast changing environment is vital to the continued success of the group.
 
RELATIONSHIP AGREEMENT
The Company has entered into a written and legally binding Relationship Agreement with myself, its controlling shareholder, to address the requirements of LR9.2.2AD of the Listing Rules.
 
OUTLOOK
Allowing partial or total release from current lockdown measures will be vitally important in restoring business confidence and encouraging a return to a growing and vibrant economy.
 
The group's development programme is funded from our own existing resources and it will be important for the government to implement measures as soon as practically possible to encourage activity in the residential and commercial property market.
 
In these unpredictable times I look forward to reporting further at the year end.
 
J Richard Wollenberg
Chairman
30 April 2020
 
 
 
 Condensed Consolidated Interim Income Statement
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 




 
 
 
 
 


Six months
31 March
2020

(Unaudited)
£'000


Six months
31 March
2019

(Unaudited)
£'000


Year
30 September
2019
(Audited)
£'000




Revenue


338


320


647




Cost of sales


(45)


(25)


(70)




 


______


______


______




Gross profit


293


295


577




Administrative expenses


(275)


(256)


(488)




Other operating income


290


287


577




 


______


______


______




Operating profit before gains on investment properties and other investments




308




326


 
666




Fair value movement on revaluation of investment properties


-


-


22




 


______


______


______




Operating profit


308


326


688




Financial income


34


29


61




Profit on sale of investment


74


-


-




Share of results of joint venture


(29)


(51)


904




 


______


______


______




Profit before taxation


387


304


1,653




Taxation


(78)


(53)


(117)




 


______


______


______




Profit for the period attributable to equity holders


309


251


1,536




 


______


______


______




 


 


 


 




Earnings per share on profit for the period - pence


 


 


 




Basic and diluted


24.9


20.1


123.1




 


______


______


______




 


 


 


 




Dividends


 


 


 




Final 2019 paid 12.5p (2018: 12.2p)


155


153


153




Interim 2019 paid 4.6p


-


-


57




 


______


______


______




 


155


153


210




 


______


______


______




Final 2019 proposed 12.5p 


-


-


155




Interim 2020 proposed 4.8p (2019: 4.6p)


59


57


-




 


______


______


______




 


59


57


155




 


______


______


______




 
These results relate entirely to continuing operations. There were no acquisitions or disposals during these periods.
 
 
 
 
Condensed Consolidated Interim Statement of Comprehensive Income and Expense
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 
 




 
 
 
 
 


Six months
31 March
2020

(Unaudited)

£'000


Six months
31 March
2019

(Unaudited)
£'000


Year
30 September
2019

(Audited) 
£'000




 


 


 


 




Profit for the financial period


309


251


1,536




 


 


 


 




Items that cannot be reclassified subsequently to profit or loss


 


 


 




Net change in fair value of available for sale assets


(52)


(62)


(43)




Items that may be reclassified subsequently to profit or loss


 


 


 




Net change in fair value of other properties


-


-


(10)




 


______


______


______




Total comprehensive income and expense for the period attributable to equity holders of the parent company


 
257


 
189


 
1,483




 


______


______


______




 
Condensed Consolidated Interim Balance Sheet
AT 31 MARCH 2020




 
 
 
 


31 March
2020
(Unaudited)

£'000


31 March
2019

(Unaudited)

£'000


30 September
2019
(Audited)
£'000




Non-current assets


 


 


 




Freehold investment properties


6,000


5,962


5,995




Property, plant and equipment


282


296


284




Investment in joint venture


14,932


15,150


15,604




Other financial assets


886


824


843




 


______


______


______




Total non-current assets


22,100


22,232


22,726




 


_____


______


______




Current assets


 


 


 




Stock and work in progress


683


675


674




Trade and other receivables


183


108


139




Held to maturity cash deposits


2,714


3,597


3,084




Cash and cash equivalents


3,274


1,375


2,473




 


______


______


______




Total current assets


6,854


5,755


6,370




 


______


______


______




Total assets


28,954


27,987


29,096




 


______


______


______




Current liabilities


 


 


 




Trade and other payables


(613)


(474)


(528)




Corporation tax


(111)


(211)


(131)




 


______


______


______




Total current liabilities


(724)


(685)


(659)




 


______


______


______




Non-current liabilities


 


 


 




Deferred tax liability


(95)


(98)


(94)




 


______


______


______




Total non-current liabilities


(95)


(98)


(94)




 


______


______


______




Total liabilities


(819)


(783)


(753)




 


______


______


______




Net assets


28,135


27,204


28,343




 


______


______


______




 


 


 


 




Equity


 


 


 




Called up share capital


244


249


248




Share premium account


5,076


5,076


5,076




Other reserves


2,487


2,525


2,535




Investment property revaluation reserve


1,814


827


1,814




Retained earnings


18,514


18,527


18,670




 


______


______


______




Shareholders' funds attributable to equity holders


28,135


27,204


28,343




 


______


______


______




 


 


 


 




Net assets per share


£23.03


£21.84


£22.85




 


______


______


______




 
 
Condensed Consolidated Interim Statement of Cash Flows
FOR THE SIX MONTHS ENDED 31 MARCH 2020




 
 
 
 
 


Six months
31 March
2020

(Unaudited)

£'000


Six months
31 March
2019

(Unaudited)
£'000


Year
30 September
2019

(Audited)
£'000




 


 


 


 




Cash flows from operating activities


 


 


 




Profit for the period


309


251


1,536




Adjustments for:


 


 


 




Depreciation


2


2


5




Financial income


(34)


(29)


(61)




Share of loss/(profit) of joint venture


29


51


(904)




Profit on the sale of investments


(74)


-


-




Fair value movement on revaluation on of investment properties


-


-


(22)




Taxation


78


53


117




 


______


______


______




Cash flows from operations before changes in
working capital




310




328


 
671




Acquisition of inventory and work in progress


(8)


-


(2)




(Increase)/decrease in trade and other receivables


(44)


36


4




(Decrease)/increase in trade and other payables


(26)


(24)


30




 


______


______


______




Cash generated from operations


232


340


703




Tax paid


(97)


-


(147)




 


______


______


______




Net cash flows from operating activities


135


340


556




 


______


______


______




 


 


 


 




Cash flows from investing activities


 


 


 




Interest received


34


28


62




Dividend from Joint Venture


643


-


500




Acquisition of investments, and property, plant and equipment


(5)


(39)


(49)




Acquisition of investments


(100)


-


-




Proceeds from the sale of investments


78


-


-




Decrease/(increase) in financial assets


370


(3,397)


(2,884)




 


______


______


______




Net cash flows from investing activities


1,020


(3,408)


(2,371)




 


______


______


______




 


 


 


 




Cash flows from financing activities


 


 


 




Purchase of own shares


(199)


(122)


(220)




Dividends paid


(155)


(153)


(210)




 


______


______


______




Net cash flows from financing activities


(354)


(275)


(430)




 


______


______


______




 


 


 


 




Net increase/(decrease) in cash and cash equivalents


801


(3,343)


(2,245)




Cash and cash equivalents at beginning of period


2,473


4,718


4,718




 


______


______


______




Cash and cash equivalents at end of period


3,274


1,375


2,473




 


______


______


______



 
 
 
 
 



 
 
 

Condensed Consolidated Interim Statement of Changes in Equity

FOR THE SIX MONTHS ENDED 31 MARCH 2020 
 
 




 
 
 
 
 


 
 
Share

capital
    £'000 


 
Share

premium

account
£'000


 
 
Other

reserves
£'000


Investment

property

revaluation

reserve
    £'000


 
 
Retained

earnings
£'000


 
 
Total

equity
£'000




 


 


 


 


 


 


 




At 1 October 2018


251


5,076


2,585


827


18,551


27,290




Profit for the period


-


-


-


-


251


251




Other comprehensive income - revaluation of investments




-




-




(62)




-




-




(62)




Transactions with equity holders
Dividends




-




-




-




-




(153)




(153)




Purchase of own shares


(2)


-


2


-


(122)


(122)




 


______


______


______


______


______


______




Total transactions with equity holders


(2)


-


2


-


(275)


(275)




 


______


______


______


______


______


______




At 31 March 2019


249


5,076


2,525


827


18,527


27,204




Profit for the period


-


-


-


-


1,285


1,285




Other comprehensive income - revaluation of investments


-


-


19


-


-


19




Revaluation of other property


-


-


(10)


-


-


(10)




Transactions with equity holders
Dividends




-




-




-




-




(57)




(57)




Purchase of own shares


(1)


-


1


-


(98)


(98)




 


______


______


______


______


______


______




Total transactions with equity holders


(1)


-


1


-


(155)


(155)




 


______


______


______


______


______


______




Transfer on revaluation of investment properties - Cardiff




-




-




-




22




(22)




-




Transfer on revaluation of investment properties - Campmoss




-




-




-




965




(965)




-




 


______


______


______


______


______


______




At 30 September 2019


248


5,076


2,535


1,814


18,670


28,343




Profit for the period


-


-


-


-


309


309




Other comprehensive income - revaluation of investments




-




-




(52)




-




-




(52)




Transactions with equity holders
Dividends




-




-




-




-




(155)




(155)




Purchase of own shares


(4)


-


4


-


(310)


(310)




 


______


______


______


______


______


______




Total transactions with equity holders


(4)


-


4


-


(465)


(465)




 


______


______


______


______


______


______




At 31 March 2020


244


5,076


2,487


1,814


18,514


28,135




 


______


______


______


______


______


______



 
 
 
 
 
 
 
 
 



 
 
 
Statement of Responsibility
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 
The directors are responsible for preparing the condensed consolidated interim financial statements for the six months ended 31 March 2020 and they confirm, to the best of their knowledge and belief, that:
 
·      the condensed consolidated set of interim financial statements for the six months ended 31 March 2020 has been prepared in accordance with IAS 34 - Interim Financial Reporting, as adopted by the EU;
·      the interim management report includes a fair review of the information required by:
a)    DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of interim financial statements and a description of the principal risks and uncertainties for the remaining six months of the year; and
b)    DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the group during that period; and any changes in the related party transactions described in the last annual report that could do so.
 
 
J Richard Wollenberg, Chairman
 
Karen L Chandler, Finance director
 
Nigel D Jamieson, Independent non-executive director
 
30 April 2020
 
 
 
Notes to the Condensed Consolidated Interim Financial Statements
FOR THE SIX MONTHS ENDED 31 MARCH 2020
 
1. Basis of preparation
This condensed set of financial statements has been prepared in accordance with IAS 34 - Interim Financial Reporting as adopted by the EU.
 
The annual financial statements of the group are prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU. As required by the Disclosure and Transparency Rules of the Financial Conduct Authority, the condensed set of financial statements has been prepared applying the accounting policies and presentation that were applied in the preparation of the group's published consolidated financial statements for the year ended 30 September 2019.
 
The comparative figures for the financial year ended 30 September 2019 are not the group's statutory accounts for that financial year. Those accounts have been reported on by the group's auditor and delivered to the registrar of companies. The report of the auditor was: unqualified; did not give any reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report; and did not contain a statement under sections 498 (2) or (3) of the Companies Act 2006.
 
Accounting policies
The condensed consolidated interim financial statements have been prepared applying the accounting policies that will be applied in the preparation of the group's financial statements for the year ended 30 September 2020.
 
The only change to International Financial Reporting Standards which is relevant to the group which have arisen since the last year end is the implementation of IFRS 16 (Leases).  The directors have concluded that the impact of this new Standards is unlikely to be material to the Group and, consequently, in all other respects these condensed consolidated interim financial statements have been prepared on the same basis as the group's financial statements for the year ended 30 September 2020.
 
Use of estimates and judgement
The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates.
 
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. The key areas in which estimates have been used and the assumptions applied are in valuing investment properties and properties in the joint venture, in valuing available for sale assets, in classifying properties and in the calculating of provisions. 
 
An external, independent valuer, having an appropriate recognised professional qualification and recent experience in the location and category of property being valued, values the company's property portfolio at the end of each financial year. The directors of the joint venture value its portfolio each year; such valuation takes into account yields on similar properties in the area, vacant space and covenant strength. The directors of the group and joint venture review the valuations for the interim financial statements. 
 
A provision is recognised in the balance sheet when the group has a present legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.
 
Going concern
The group has sufficient financial resources to enable it to continue in operational existence for the foreseeable future, to complete the current maintenance and development programme and meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to continue to adopt the going concern basis in preparing these interim financial statements.
 
 
Notes to the Condensed Consolidated Interim Financial Statements
FOR THE SIX MONTHS ENDED 31 MARCH 2020 (continued)
 
2. Segmental analysis
The group manages its operations in two segments, being property and other investments and property development. The results of these segments are regularly reviewed by the board as a basis for the allocation of resources, in conjunction with individual site investment appraisals and to assess their performance. Information regarding the revenue and profit before taxation for each reportable segment is set out below:
 




 
 
 
 
 


Six months
31 March
2020
(Unaudited)

£'000


Six months
31 March
2019

(Unaudited)
£'000


Year
30 September
2019

(Audited)
£'000




 


 


 


 




Revenue (wholly in the United Kingdom)


 


 


 




Property and other investments being gross rents
Receivable


 
338


 
320


 
647




 


______


______


______




 


 


 


 




 


 


 


 




Profit before taxation


 


 


 




Property and other investments


202


206


1,462




Property development


185


98


191




 


______


______


______




 


387


304


1,653




 


______


______


______




 


 


 


 




The operations of the group are not seasonal.
 
3. Taxation
The tax position for the six-month period is estimated on the basis of the anticipated tax rates applying for the full year.
 
4. Dividends
The interim dividend of 4.8p per share will be paid on 2 July 2020 to shareholders on the register on 29 May 2020. Under accounting standards this dividend is not included in the condensed consolidated interim financial statements for the six months ended 31 March 2020.
 
5. Earnings per share
Earnings per share has been calculated using the profit after tax for the period of £309,000 (March 2019: £251,000; September 2019: £1,013,000) and the weighted average number of shares as follows:
 




 


Weighted average number of shares
 




 
 


31 March
2020


31 March
2019


30 September
2019




 


(Unaudited)


(Unaudited)


(Audited)




 


 


 


 




Basic and diluted


1,238,595


1,250,872


1,247,277




 


_________


_________


_________




 
 
 
Directors and Advisers
 
 




Directors


Auditor




J Richard Wollenberg


Crowe U.K. LLP




Chairman and chief executive


 




 
Karen L Chandler FCA


 




Finance director


Stockbrokers and financial advisers




 
Nigel D Jamieson BSc, FCSI


Shore Capital 




Independent non-executive director


 




 


 




 


 




Secretary


Bankers




Karen L Chandler FCA


HSBC Bank plc




 


 




 


 




Non-executive director of wholly owned subsidiary


Solicitors




First Choice Estates plc


Blake Morgan LLP
Charsley Harrison LLP




Derek M Joseph BCom, FCIS


 




 


 




Head office


Registrar and transfer office




56 Station Road


Neville Registrars Limited




Egham, TW20 9LF


Neville House




Telephone: 01784 437444


Steelpark Road




Fax: 01784 439157


Halesowen




E-mail: webmaster@cardiff-property.com


B62 8HD




Web: www.cardiff-property.com


Telephone: 0121 585 1131




 


 




 


 




Registered office


Registered number




56 Station Road


00022705




Egham, TW20 9LF


 




 


 




 


 




 
 
 
Financial Calendar
 
 




2020


30 April


Interim results for 2020 announced




 


28 May


Ex-dividend date for interim dividend




 


29 May


Record date for interim dividend




 


2 July


Interim dividend to be paid




 


30 September


End of accounting year




 


December


Final results for 2020 announced




2021


January


Annual General Meeting




 


February


Final dividend to be paid




 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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