The first results from Gilbert House Investments following its acquisition of Centrovincial Estates show that the purchase has increased net assets from 17.2p to 55p a share. On the same basis, earnings per share have been increased from 0.09p to 2.1p.
Nigel Wray and Peter Kleeman acquired control of Gilbert House towards the end of 1986 and the results reflect their involvement within the group for only four months.
Centrovincial was acquired by Gilbert House in April 1987 as the first step in a planned programme of growth, which will include acquisitions as well as growth from within.
From June 29, the company’s shares will have a full Stock Exchange listing.
