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:
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| 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
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Shore Capital | Patrick Castle | 020 7468 7923
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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 £'000 | Six months 31 March 2019 £'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 |
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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 |
| ______ | ______ | ______ |
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Earnings per share on profit for the period - pence |
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Basic and diluted | 24.9 | 20.1 | 123.1 |
| ______ | ______ | ______ |
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Dividends |
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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 | Six months 31 March 2019 £'000 | Year 30 September 2019 £'000 |
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Profit for the financial period | 309 | 251 | 1,536 |
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Items that cannot be reclassified subsequently to profit or loss |
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Net change in fair value of available for sale assets | (52) | (62) | (43) |
Items that may be reclassified subsequently to profit or loss |
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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) | 31 March 2019 | 30 September 2019 (Audited) £'000 |
Non-current assets |
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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 |
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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 |
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Trade and other payables | (613) | (474) | (528) |
Corporation tax | (111) | (211) | (131) |
| ______ | ______ | ______ |
Total current liabilities | (724) | (685) | (659) |
| ______ | ______ | ______ |
Non-current liabilities |
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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 |
| ______ | ______ | ______ |
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Equity |
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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 |
| ______ | ______ | ______ |
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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 | Six months 31 March 2019 £'000 | Year 30 September 2019 £'000 | |
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Cash flows from operating activities |
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Profit for the period | 309 | 251 | 1,536 | |
Adjustments for: |
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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 |
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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 | |
| ______ | ______ | ______ | |
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Cash flows from investing activities |
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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) | |
| ______ | ______ | ______ | |
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Cash flows from financing activities |
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Purchase of own shares | (199) | (122) | (220) | |
Dividends paid | (155) | (153) | (210) | |
| ______ | ______ | ______ | |
Net cash flows from financing activities | (354) | (275) | (430) | |
| ______ | ______ | ______ | |
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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 | |
| ______ | ______ | ______ | |
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Condensed Consolidated Interim Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 31 MARCH 2020
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Share £'000 |
Share £'000 |
Other £'000 | Investment £'000 |
Retained £'000 |
Total £'000 | ||
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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 |
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Transactions with equity holders Dividends |
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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 |
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Purchase of own shares | (1) | - | 1 | - | (98) | (98) | ||
| ______ | ______ | ______ | ______ | ______ | ______ | ||
Total transactions with equity holders | (1) | - | 1 | - | (155) | (155) | ||
| ______ | ______ | ______ | ______ | ______ | ______ | ||
Transfer on revaluation of investment properties - Cardiff |
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Transfer on revaluation of investment properties - Campmoss |
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| ______ | ______ | ______ | ______ | ______ | ______ | ||
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 |
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Transactions with equity holders Dividends |
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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) | Six months 31 March 2019 £'000 | Year 30 September 2019 £'000 |
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Revenue (wholly in the United Kingdom) |
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Property and other investments being gross rents Receivable |
338 |
320 |
647 |
| ______ | ______ | ______ |
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Profit before taxation |
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Property and other investments | 202 | 206 | 1,462 |
Property development | 185 | 98 | 191 |
| ______ | ______ | ______ |
| 387 | 304 | 1,653 |
| ______ | ______ | ______ |
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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
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| 31 March 2020 | 31 March 2019 | 30 September 2019 |
| (Unaudited) | (Unaudited) | (Audited) |
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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 |
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Karen L Chandler FCA |
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Finance director | Stockbrokers and financial advisers |
Nigel D Jamieson BSc, FCSI | Shore Capital |
Independent non-executive director |
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Secretary | Bankers |
Karen L Chandler FCA | HSBC Bank plc |
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Non-executive director of wholly owned subsidiary | Solicitors |
First Choice Estates plc | Blake Morgan LLP Charsley Harrison LLP |
Derek M Joseph BCom, FCIS |
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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 |
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Registered office | Registered number |
56 Station Road | 00022705 |
Egham, TW20 9LF |
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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 |
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