Ashtenne Holdings PLC announce record profit before tax of 73.9million (UK)

Ashtenne Holdings plc (“Ashtenne”), the quoted property investment and active management specialist, announces preliminary results for the year ended 31 December 2004.

Financial Highlights*

  • Record profit before tax – up 132% to £73.9 million (2003: £31.8 million)
  • NAV up 37% to 427p (2003: 312p)
  • Cash balance £102 million with borrowings of only £15 million (2003: gearing 22%).

Corporate Highlights
  • Disposals of InShops, Port of Boston and the majority of directly owned investment properties
  • Return of Capital of £142 million to shareholders
  • 1 for 2 share consolidation

James Hambro, Chairman, commented:
“In many respects we see last year as the realisation of the work done on many of the projects and initiatives of the last few years. Apart from being a year of extraordinary profits and growth, 2004 has left Ashtenne a simpler and more transparent business going into 2005.”

Source: Ashtenne

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