St Modwen has promised record results this financial year.
Its prediction came with the announcement of an 18% increase in full-year pretax profits to £30m on turnover up from £66m to £108m.
Gross rental income rose 13% to £30.7m.
It said it was on track to double the size of its property portfolio in the next five years after reporting an 18% increase in net asset value per share.
The property company announced Tim Haywood would join as finance director on 14 April. Brighton’s West Pier is among forthcoming projects and it hopes to be involved in redeveloping the Elephant and Castle area of London.
References: Financial Times 13/02/03 page 24, The Times 13/02/03 page 28 (Need to know & Results in brief), page 31, The Daily Telegraph 13/02/03 page 32, The Independent 13/02/03 page 25 (Investment)
