RNS Number : 0780M
Cardiff Property PLC
25 April 2024
 

 

THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY

AND ITS SUBSIDIARIES

 

FOR IMMEDIATE RELEASE                                                               25 April 2024

 

                                        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 £22m, 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 2024

 

Highlights:

 

 


Six months

31 March

2024

(Unaudited)

Six months

31 March

2023
(Unaudited)

Year

30 September

2023
(Audited)


Net assets

£'000

30,026

29,657

29,975


Net assets per share

£

28.93

28.00

28.44


Profit before tax

£'000

780

653

1,262


Earnings per share (basic and diluted)

pence

58.38

49.42

104.62


Interim/total dividend

   proposed per share

 

pence


6.5


6.0


22.0


Gearing

%

Nil

Nil

Nil


 

Richard Wollenberg, Chairman, commented:

 

New lettings and investment activity in the Thames Valley commercial and residential property sectors marginally increased over the first six months of the financial year. The prospect of lower interest rates has certainly inspired a return of confidence in the property market although current indications are that an early reduction in the base rate is unlikely.

 

Rental levels in the retail and industrial sectors have stabilised, whilst office rents remain under pressure as many corporate tenants continue to accommodate employees' preference to work from home.

 

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 2024

 

INTERIM MANAGEMENT REPORT

 

 

Dear Shareholder,

 

New lettings and investment activity in the Thames Valley commercial and residential property sectors marginally increased over the first six months of the financial year. The prospect of lower interest rates has certainly inspired a return of confidence in the property market although current indications are that an early reduction in the base rate is unlikely.

 

Rental levels in the retail and industrial sectors have stabilised, whilst office rents remain under pressure as many corporate tenants continue to accommodate employees' preference to work from home.

 

The commercial property investment market has seen a number of transactions indicating the first signs of a recovery in capital values. With the prospects of future, albeit marginal, rental growth, commercial agents and investors are looking forward to further gains in the sector.

 

Residential values in the Thames Valley have improved reflecting recent reductions in mortgage rates. Rental values have remained firm.

 

In respect of the Group's portfolio, we await the outcome of a number of planning applications. The planning system remains complex and unpredictable with continuing delays inevitably increasing costs.

 

Management and liaison with the Group's mixture of tenants remains a priority. The financial health of our tenants is important and where necessary cash flow assistance such as monthly rather than quarterly rentals in advance has been agreed.

 

FINANCIALS

For the 6 months ending 31 March 2024 Group profit before tax amounted to £0.78m (March 2023: £0.65m; September 2023; £1.26m). This figure includes an after-tax profit from Campmoss Property Company Limited ("Campmoss") our 47.62% joint venture of £0.10m (March 2023: £0.12m; September 2023: £0.53m). No dividends were received from the Company's investment in Campmoss (March 2023: nil; September 2023: £2m).

 

Revenue for the 6 months to 31 March 2024 represented by rental income, totalled £0.36m (March 2023: £0.34m; September 2023; £0.66m). The Group's share of revenue from Campmoss was £0.32m (March 2023: £0.29m; September 2023: £0.59m), represented by rental income of £0.28m (March 2023: £0.29m; September 2023; £0.59m) and a property sale completed during the 6 months to March 2024 of £0.04m (March 2023 nil; September 2023: £nil). Rental income and sales figures for Campmoss are not included in Group revenue.

 

Net assets of the Group as at 31 March 2024 were £30.03m (March 2023: £29.66m; September 2023: £29.98m), equivalent to £28.93 per share (March 2023: £28.00; September 2023: £28.44). The Company's share of net assets in Campmoss, included on the Group balance sheet, amounted to £12.38m. (March 2023: £13.88m; September 2023: £12.28m). 

 

Cash balances held by Cardiff and Campmoss are placed on short-term deposit. At the half year the Company had £nil gearing (March 2023: £nil; September 2023: £nil).

 

The directors are of the opinion, other than as mentioned in this report, that no material events or material changes in assets, liabilities or related party relationships since 30 September have occurred.

 

The Company may hold in treasury any of its own shares purchased which gives the Company the ability to re-issue treasury shares and provide greater flexibility in the management of its capital base.

 

During the 6 months to 31 March 2024 the Company purchased 16,034 ordinary shares (March 2023:  22,577 ordinary shares; September 2023: 27,977 ordinary shares). All shares purchased by the Company not held in treasury have been cancelled and the number of shares in issue reduced accordingly.

 

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 accounting does not require the same treatment in respect of the Group's unquoted investment in Campmoss Property, 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 only, based on the value in the company's balance sheet at 31 March 2024 this would result in a tax liability of £3.10m  (March 2023: £3.47m; September 2023: £3.07m) equivalent to £2.98 per share calculated using a tax rate of 25%  (March 2023: £3.28 per share ; September 2023 £2.91 per share). This information is provided to shareholders as an additional, non-statutory, disclosure.

 

DIVIDEND

The directors have declared an interim dividend of 6.5p (interim March 2023: 6.0p; final September 2023: 16.0p) an increase of 8.3% which will be paid on 27 June 2024 to shareholders on the register at 24 May 2024.

 

THE INVESTMENT & DEVELOPMENT PORTFOLIO

The Group's freehold property portfolio, including those held by Campmoss, is located in the Thames Valley and in the counties of Surrey, Berkshire and Buckinghamshire.

 

The Windsor Business Centre, Windsor, comprises 4 business units all of which are let on leases inclusive of a development break clause. The outcome of a planning application for the renewal of an existing consent for a new 21,000 sq. ft. office scheme is awaited. Commencement of this development will depend on securing suitable lettings. The individual units remain available for sale.

 

Maidenhead Enterprise Centre, Maidenhead, comprises 6 individual business units totalling 14,000 sq. ft.  The units include industrial use on the ground floor with offices above.  An increase in rental was recently achieved following a rent review. One unit is currently available to lease.

 

The White House, Egham, comprises 5 ground floor retail units with air-conditioned offices on the upper floor. All retail units are let with part of the upper floor offices available for letting.

 

Heritage Court, Egham, comprises 4 retail units let on medium term Leases.  All residential apartments on the upper floors have previously been sold on long leaseholds. The adjoining freehold office is occupied by the company.

 

CAMPMOSS PROPERTY COMPANY LIMITED & SUBSIDIARIES

The Campmoss portfolio provides a range of office, retail and residential properties in Burnham, Bracknell and Maidenhead.

 

The Priory, Stomp Road, Burnham, comprises 17,000 sq. ft. of office space and an adjoining business centre occupying 9,000 sq. ft. Planning permission has been granted for a new 75-bedroom care home whilst retaining the existing Business Centre. Negotiations to achieve a leasing commitment or a freehold sale are currently in hand.

 

Highway House, Maidenhead retains an extant planning permission for a new 48,000 sq. ft. gross Grade A office scheme. Minor works have taken place, but any major construction work will be subject to achieving sufficient pre-lettings. The outcome of alternative use planning applications for either a care home or residential scheme is awaited. The cleared site is currently used as a car park let to an adjoining office user.

 

Market Street, Bracknell, includes 4 adjacent buildings divided into thirty-three retail units primarily let on medium-term leases.  Seventeen apartments on the upper floors of two of the buildings have been retained and are let on Assured Shorthold Tenancy Agreements.  The apartments are also available for sale.

 

Tangley Place, Worplesdon, is approximately 2.5 acres of land in the greenbelt and adjacent to a previously developed care home subsequently sold to the operator. A planning application for an adjacent specialist care home has recently been submitted.

 

MANAGEMENT AND TEAM

Management of the Group's portfolio remains a priority and I wish to take this opportunity of thanking our team based in Egham, Surrey and our joint venture partner for their dedication and continued support.

 

RELATIONSHIP AGREEMENT

The Company has entered into a written and legally binding Relationship Agreement with myself, its controlling shareholder, to address the requirements of LR9.2.2AR of the Listing Rules.

 

OUTLOOK

As mentioned earlier the prospect of lower interest rates has encouraged a return of confidence to the Thames Valley Property market which should assist a recovery in capital values and occupancy levels. Future growth prospects for the Group are primarily dependent on achieving beneficial planning permissions which are subject to the current complexity of the planning system which remains a frustrating, time consuming and costly exercise. As indicated in this half year report there are a number of projects in progress, and I look forward to reporting further at the year end.

 

J Richard Wollenberg

Chairman

25 April 2024

 

 

 

 

 

 

 

 

 

Condensed Consolidated Interim Income Statement

FOR THE SIX MONTHS ENDED 31 MARCH 2024

 

 

 

 

 

 

Six months

31 March

2024
(Unaudited)

£'000

Six months

31 March

2023
(Unaudited)

£'000

Year

30 September

2023

(Audited)

£'000

Revenue

355

339

662

Cost of sales

(32)

(16)

(52)


______

______

______

 

Gross profit

323

323

610

 

Administrative expenses

(305)

(300)

(569)

 

Other operating income

341

322

646

 


______

______

______

 

Operating profit before gains on investment properties and other investments


359


345

 

687

 

Fair value (loss)/gain on revaluation of investment properties

-

-

(332)

 


______

______

______

 

Operating profit

359

345

355

 

Financial income

323

114

314

 

Financial expense

(4)

(3)

(6)

 

Profit on sale of investments

-

75

74

 

Profit on sale of investment properties

-

-

-

 

Share of results of Joint Venture

102

122

525

 


______

______

______

 

Profit before taxation

780

653

1,262

 

Taxation

(168)

(123)

(148)

 


______

______

______

 

Profit for the period attributable to equity holders

612

530

1,114

 


______

______

______

 

 

 



 

Earnings per share on profit for the period - pence

 



 

Basic and diluted

58.38

49.42

104.62

 

 

______

______

______

 

 

 



Dividends

 



Final 2023 paid 16.0p (2022: 15.0p)

168

161

161

Interim 2023 paid 6.0p

-

-

64

 

______

______

______

 

168

161

225

 

______

______

______

Final 2023 proposed 16.0p

-

-

169

Interim 2024 proposed 6.5p (2023: 6.0p)

67

64

-

 

______

______

______

 

67

64

169

 

______

______

______

 

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 2024

 

 

 

 

 

 

 

Six months

31 March

2024
(Unaudited)
£'000

Six months

31 March

2023
(Unaudited)

£'000

Year

30 September

2023
(Audited)

£'000

 

 



Profit for the financial period

612

530

1,114

 

 



Items that cannot be reclassified subsequently to profit or loss

 



Net change in fair value of other properties

-

-

(10)

Net change in fair value of investments

(25)

22

(37)


______

______

______

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

 

587

 

552


1,067


______

______

______



Condensed Consolidated Interim Balance Sheet

AT 31 MARCH 2024

 

 

 

 

31 March

2024

(Unaudited)
£'000

31 March

2023
(Unaudited)
£'000

30 September

2023

(Audited)

£'000

Non-current assets

 



Freehold investment properties

5,660

5,985

5,655

Property, plant and equipment

290

300

290

Right of use asset

130

140

135

Investment in Joint Venture

12,385

13,880

12,283

Other financial assets

655

837

778


______

______

______

Total non-current assets

19,120

21,142

19,141


_____

_____

______

Current assets

 



Stock and work in progress

720

704

715

 

Trade and other receivables

270

244

274

 

Held to maturity cash deposits

8,847

8,263

10,384

 

Cash and cash equivalents

2,063

444

405

 


______

______

______

Total current assets

11,900

9,655

11,778

 

______

______

______

Total assets

31,020

30,797

30,919

 

______

______

______

Current liabilities

 



Trade and other payables

(515)

(581)

(540)

Corporation tax

(241)

(215)

(162)

 

______

______

______

Total current liabilities

(756)

(796)

(702)

 

______

______

______

Non-current liabilities

 



Lease liability

(161)

(168)

(165)

Deferred tax liability

(77)

(176)

(77)

 

______

______

______

Total non-current liabilities

(238)

(344)

(242)

 

______

______

______

Total liabilities

(994)

(1,140)

(944)


______

______

______

Net assets

30,026

29,657

29,975


______

______

______

 

 



Equity

 



Called up share capital

207

212

210

Share premium account

5,076

5,076

5,076

Other reserves

2,387

2,476

2,409

Investment property revaluation reserve

2,193

2,095

2,193

Retained earnings

20,163

19,798

20,087


______

______

______

Shareholders' funds attributable to equity holders

30,026

29,657

29,975


______

______

______

 

 


 

Net assets per share

28.93

£28.00

£28.44

 

______

______

______

 



Condensed Consolidated Interim Statement of Cash Flows

FOR THE SIX MONTHS ENDED 31 MARCH 2024

 

 

 

 

 

Six months

31 March

2024
(Unaudited)
£'000

Six months

31 March

2023
(Unaudited)

£'000

Year

30 September

2023
(Audited)

£'000

 

 



Cash flows from operating activities

 



Profit for the period

612

530

1,114

Adjustments for:

 



Depreciation right of use assets

5

5

10

Financial income

(323)

(114)

(314)

Financial expense

4

3

6

Profit on sale of investment property

-

-

-

Profit on sale of investment

-

(75)

(74)

Share of profit of Joint Venture

(102)

(122)

(525)

Fair value loss/(gain) on revaluation on of investment properties

-

-

332

Taxation

168

123

148


______

______

______

Cash flows from operations before changes in

working capital


364


350


697

Acquisition of inventory and work in progress

(6)

(10)

(21)

(Increase)/decrease in trade and other receivables

4

(28)

(67)

(Decrease)/increase in trade and other payables

(26)

(18)

(58)


______

______

______

Cash generated from operations

336

294

551

Tax paid

(89)

(98)

(268)


______

______

______

Net cash flows from operating activities

247

196

283


______

______

______


 



Cash flows from investing activities

 



Interest received

324

114

314

Dividend from Joint Venture

-

-

2,000

Proceeds from sale of investment property

-

-

-

Proceeds from bond redemption

98

-

80

Acquisition of investments, and property, plant and equipment

(5)

-

(2)

Proceeds from sale of investments

-

158

79

(Increase)/decrease in held term deposits

1,537

(4,222)

(6,343)


______

______

______

Net cash flows from investing activities

1,954

(3,950)

(3,872)


______

______

______


 



Cash flows from financing activities

 



Purchase of own shares

(368)

(546)

(679)

Lease payments

(7)

(7)

(14)

Dividends paid

(168)

(161)

(225)


______

______

______

Net cash flows from financing activities

(543)

(714)

(918)


______

______

______


 



Net increase/(decrease) in cash and cash equivalents

1,658

(4,468)

(4,507)

Cash and cash equivalents at beginning of period

405

4,912

4,912


______

______

______

Cash and cash equivalents at end of period

2,063

444

405


______

______

______

 


 



Condensed Consolidated Interim Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 31 MARCH 2024

 

 

 

 

 

 

 

Share
capital

    £'000

 

Share
premium
account

£'000

 

 

Other
reserves

£'000

Investment
property
revaluation
reserve

    £'000

 

 

Retained
earnings

£'000

 

 

Total
equity

£'000

 

 





 

At 30 September 2022

216

5,076

2,450

2,095

19,975

29,812

 

Profit for the period

-

-

-

-

530

530

 

Other comprehensive income - revaluation of investments


-


-


22


-


-


22

Transactions with equity holders

Dividends


-


-


-


-


(161)


(161)

Purchase of own shares

(4)

-

4

-

(546)

(546)


______

______

______

______

______

______

Total transactions with equity holders

(4)

-

4

-

(707)

(707)

 

______

______

______

______

______

______

 

 

 

 

 

 

 

At 31 March 2023

212

5,076

2,476

2,095

19,798

29,657

Profit for the period

-

-

-

-

584

584

Other comprehensive income - revaluation of investments


-


-


(59)


-


-


(59)

Net change in fair value of own use freehold property


-


-


(10)


-


-


(100

Transactions with equity holders

Dividends


-


-


-


-


(64)


(64)

Purchase of own shares

(2)

-

2

-

(133)

133)


______

______

______

______

______

______

Total transactions with equity holders

(2)

-

2

-

(197)

(197)


______

______

______

______

______

______

Fair value movement on investment properties - Cardiff

-

-

-

(332)

332

-

Deferred taxation on fair value movements in investment properties - Cardiff

-

-

-

98

(98)

-

Fair value movement on investment properties - Campmoss Group


-


-


-


332


(332)


-


______

______

______

______

______

______

At 30 September 2023

210

5,076

2,409

2,193

20,087

29,975

Profit for the period

-

-

-

-

612

612

Other comprehensive income - revaluation of investments


-


-


(25)


-


-


(25)

Transactions with equity holders

Dividends


-


-


-


-


(168)


(168)

Purchase of own shares

(3)

-

3

-

(368)

(368)


______

______

______

______

______

______

Total transactions with equity holders

(3)

-

3

-

(536)

(536)


______

______

______

______

______

______

At 31 March 2024

207

5,076

2,387

2,193

20,163

30,026


______

______

______

______

______

______



Statement of Responsibility

FOR THE SIX MONTHS ENDED 31 MARCH 2024

 

The directors are responsible for preparing the condensed consolidated interim financial statements for the six months ended 31 March 2024 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 2024 have been prepared in accordance with IAS 34 - Interim Financial Reporting and in accordance with the requirements of UK adopted international accounting standards and The Companies Act 2006;

·      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

 

25 April 2024

 

 



Notes to the Condensed Consolidated Interim Financial Statements

FOR THE SIX MONTHS ENDED 31 MARCH 2024

 

1. Basis of preparation

This condensed set of financial statements has been prepared in accordance with IAS 34 - Interim Financial Reporting in conformity with the requirements of The Companies Act 2006. The condensed set of financial statements are unaudited.

 

The annual financial statements of the Group are prepared in accordance with UK-adopted international accounting standards and as applied in accordance with the provisions of the Companies Act 2006. 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 2023.

 

The comparative figures for the financial year ended 30 September 2023 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 2024.

 

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 2024 (continued)

 

2. Segmental analysis

The Group manages its operations in two segments, being property and other investment and property development. Property and other investment relate to the results for The Cardiff Property Company Limited where properties are held as investment property with property development relating to the results of First Choice Estates Plc and Thames Valley Retirement Homes Limited. 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 results and net operating assets for each reportable segment are set out below:

 


Property and other investment

Property Development

Eliminations

Six months 31 March 2024

(Unaudited)
Total

 


£'000

£'000

£'000

£'000


 

 

 

 

  Rental income (wholly in the UK)

239

116

-

355


 

 

 

 

Profit before taxation

592

188

-

780

 

 

 

 

 

Net operating assets

 

 

 

 

Assets

29,953

5,390

(4,323)

31,020

Liabilities

(5,042)

(275)

4,323

(994)

 

              

              

              

              

Net assets

24,911

5,115

-

30,026


              

              

              

              

 

 

 


Property and other investment

Property Development

Eliminations

Six months 31 March 2023
(Unaudited)

Total

 







£'000

£'000

£'000

£'000






Revenue (wholly in the UK)

223

116

-

339






Profit before taxation

376

277

-

653






Net operating assets





Assets

28,665

5,154

(3,022)

30,797

Liabilities

(3,916)

(246)

3,022

(1,140)

 

              

              

              

              

Net assets

24,749

4,908

-

29,657


              

              

              

              

 


Property and other investment

Property Development

Eliminations

Year September 2023

(Audited)
Total

 

 


£'000

£'000

£'000

£'000

Rental income (wholly in the UK)

436

226

-

662

Property sales

-

-

-

-

Profit before taxation

829

433

-

1,262






 

 

Net operating assets





Assets

28,854

5,246

(3,181)

30,919

Liabilities

(3,882)

(243)

3,181

(944)

 

              

              

              

              

Net assets

24,972

5,003

-

29,975


              

              

              

              

 

 

"Eliminations" relate to inter segment transactions and balances which cannot be specifically allocated but are eliminated on consolidation.

 

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 6.5p per share will be paid on 27 June 2024 to shareholders on the register on 24 May 2024. Under accounting standards this dividend is not included in the condensed consolidated interim financial statements for the six months ended 31 March 2024.

 

5. Earnings per share

Earnings per share has been calculated using the profit after tax for the period of £612,000 (March 2023: £530,000, year ended September 2023: £1,114,000) and the weighted average number of shares as follows:

 


Weighted average number of shares

 

 

 

31 March

2024

31 March

2023

30 September

2023


(Unaudited)

(Unaudited)

(Audited)


 



Basic and diluted

1,048,399

1,072,675

1,064,204


_________

_________

_________

Earnings per share (p)

58.38

49.42

104.62


_________

_________

_________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Directors and Advisers

 

 

Directors

Auditor

J Richard Wollenberg

MHA

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

 

 

2024

25 Apr

Interim results for 2024 announced


23 May

Ex-dividend date for interim dividend


24 May

Record date for interim dividend


27 June

Interim dividend to be paid


30 September

End of accounting year


December

Final results for 2024 announced

2025

January

Annual General Meeting

 

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