TIDMCDFF
RNS Number : 7207J
Cardiff Property PLC
28 April 2022
THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY
AND ITS SUBSIDIARIES
FOR RELEASE 11.00 AM 28 April 2022
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 GBP22m, is
primarily located to the west of London, close to Heathrow Airport
and in Surrey and Berkshire.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHSED 31 MARCH 2022
Highlights:
Six months Six months Year
31 March 31 March 30 September
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
Net assets GBP'000 29,059 28,818 28,442
Net assets per share GBP 26.30 24.43 25.49
Profit before tax GBP'000 1,083 365 1,259
Earnings per share
(basic and diluted) pence 91.03 25.96 91.91
Interim/total dividend
proposed per share pence 5.5 5.0 18.5
Gearing % Nil Nil Nil
Richard Wollenberg, Chairman, commented:
Confidence has returned to the Thames Valley property market
with a marked increase in new letting enquiries.
Business and Warehouse space has been particularly sought after
as distributors and suppliers change their method of product
delivery to the marketplace. For the last six months rentals in
this sector have seen an increase of up to 10%.
Small business units, typically with industrial warehouse use on
the ground floor and offices on the upper floor, have also
attracted renewed interest.
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 MONTHSED 31 MARCH 2022
INTERIM MANAGEMENT REPORT
Dear Shareholder,
Confidence has returned to the Thames Valley property market
with a marked increase in new letting enquiries.
Business and Warehouse space has been particularly sought after
as distributors and suppliers change their method of product
delivery to the marketplace. For the last six months rentals in
this sector have seen an increase of up to 10%.
Small business units, typically with industrial warehouse use on
the ground floor and offices on the upper floor, have also
attracted renewed interest.
Demand for retail space remains subject to the evolving change
in shopping habits and the continuing advance in internet shopping.
Despite all these difficulties, well-known high street food outlets
have performed well over the past two years.
As tenants return to their offices, enquiries have increased
over recent months and several new office leases have been
completed. Rental levels have remained unchanged with the lease
term being between 3 and 7 years occasionally including a tenant's
break and with rental linked to increases in the Retail Price
Index.
The Group's policy of maintaining a close liaison with tenants
has proved successful. Where necessary a deferment of rent was
agreed together with monthly rather than quarterly payments.
During the year several commercial leases due to expire were
renewed and as at the time of writing this report a number of new
lettings are in solicitors' hands.
The Thames Valley residential sales market remains buoyant as
indicated by the Group's development of 52 luxury apartments at
Woking 90% of which are now sold achieving levels above those
originally budgeted for. The residential lettings market remains
firm.
FINANCIALS
For the 6 months ending 31 March 2022 profit before tax amounted
to GBP1.08m (March 2021: GBP0.37m; year ended September 2021:
GBP1.26m). This figure includes an after-tax profit from Campmoss
Property Company Limited ("Campmoss") our 47.62% joint venture of
GBP0.66m (March 2021: GBP0.04m; year ended September 2021:
GBP0.07m). During the first half of the year the company received a
dividend of GBP1.0m (March 2021: GBPnil; September 2021 GBP0.50m)
from its investment in Campmoss.
Revenue for the 6 months to 31 March 2022 represented by rental
income, totalled GBP0.35m (March 2021: GBP0.32m : September 2021:
GBP0.60m). The Group's share of revenue from Campmoss was GBP7.75m
(March 2021: GBP0.29m; September 2021: GBP0.60m), represented by
rental income of GBP0.28m (March 2021: GBP0.29m; September 2021:
GBP0.60m) and property sales of GBP7.47m (March 2021: GBPnil,
September 2021: GBPnil). Rental income and sales figures for
Campmoss are not included in Group revenue.
Net assets of the group as at 31 March 2022 were GBP29.06m
(March 2021: GBP28.82m; September 2021: GBP28.44m), equivalent to
GBP26.30 per share (March 2021: GBP24.45; September 2021:
GBP25.49). The Company's share of net assets in Campmoss, included
on the Group balance sheet, amounted to GBP15.55m (March 2021:
GBP16.36m; September 2021: GBP15.90m). Cash balances are held on
short term deposit and at the half year the company had nil gearing
(March 2021: GBPnil, September 2021: GBPnil).
The directors are of the opinion that on balance, other than as
mentioned in this report, there are no material changes in the
investment value of the Group's portfolio as at 31 March 2022.
The freehold investment properties held by Cardiff will be
professionally valued at 30 September 2022.
During the 6 months to 31 March 2022 the company purchased
10,969 ordinary shares (March 2021: 22,750 ordinary shares; year
ended September 2021: 78,525 ordinary shares) for cancellation.
There have been no material events or material changes in assets,
liabilities, or related party relationships since 30 September
2021.
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 investments in Campmoss Property,
the 47.62% owned joint venture, which represent 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 2022 this would result in a tax liability of GBP3.89m (March
2021: GBP3.11m; September 2021: GBP3.9m) equivalent to GBP3.52 per
share (March 2021: GBP2.65; September 2021: GBP3.56) calculated
using a tax rate of 25% (March 2021: 19%; September 2021: 25%).
This information is provided to shareholders as an additional,
non-statutory, disclosure.
DIVID
The directors have declared an interim dividend of 5.5p (interim
March 2021: 5.0p; final September 2021: 13.5p) an increase of 10%
which will be paid on 30 June 2022 to shareholders on the register
at 27 May 2022.
THE INVESTMENT & DEVELOPMENT PORTFOLIO
The Group's freehold property portfolio, including those held by
Campmoss, is primarily located in the Thames Valley and the
counties of Surrey, Berkshire and Buckinghamshire.
The Windsor Business Centre, Windsor, comprises 4 business units
all of which are let on medium term leases inclusive of a
development break clause. The property recently received planning
consent for a new 20,000 sq. ft. office scheme. Agents have been
retained to seek pre-lettings with the final scheme currently under
further discussion with our architects. Commencement of this
development will depend on securing suitable lettings.
Maidenhead Enterprise Centre, Maidenhead, comprises 6 individual
business units totalling 14,000 sq. ft. All units are let on a
mixture of short and medium term leases. One lease is due to expire
at the end of the financial year.
The White House, Egham, comprises 5 ground floor retail units
with air-conditioned offices on the first floor. The building is
located in the historical town of Egham, Surrey with a prominent
location on the High Street. A vacant retail unit was recently let
achieving a small increase in rental and a new lease completed for
part of the upper floor offices. Agents are retained to market the
remaining space.
Cowbridge Road, Cardiff, comprises a commercial property on 2
floors and is currently let on a short term lease to the Royal
Mail, for use as a sorting centre. Planning permission has been
granted for a new 20 apartment residential building with retail on
the ground floor and negotiations for a freehold sale are currently
in progress.
Heritage Court, Egham, comprises 4 fully let retail units. The
upper floor residential units were previously 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 development of 52 luxury apartments at Britannia Wharf,
Woking has recently completed with 47 apartments sold at the half
year. Gross sales revenues are expected to be higher than
originally targeted. The scheme was undertaken through a joint
venture with a local Surrey based developer.
Market Street, Bracknell, comprises 4 adjacent buildings which
include a total of 33 retail units and 17 individual apartments on
the upper floors of two of the buildings. The majority of retail
units are let on medium term leases and the retained apartments are
all let on Assured Shorthold Tenancy Agreements which are also
available for sale.
Highway House, Maidenhead retains planning permission for a new
48,000 sq. ft. gross Grade A office scheme. The commencement of
construction will be subject to achieving pre-lettings which have
so far proved unsuccessful. An updated office scheme is currently
being prepared and separately a residential scheme is under
discussion with the local authority. The cleared site is currently
let as a car park to an adjoining office user.
The Priory Business Centre, Stomp Road, Burnham, comprising
9,000 sq. ft. has recently achieved a number of new lettings. The
adjacent office block of 17,000 sq. ft. is partly occupied, and
agents have been appointed to market the unoccupied space. A
planning application for a care home, retaining the existing
Business Centre, was recently refused and new plans are being
prepared for further submission.
MANAGEMENT AND TEAM
The management of our buildings and tenants is very important to
the Group's ongoing success and I would take this opportunity of
thanking our small management team and Joint Venture partner for
their hard work 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 in this report the Thames Valley property market
continues to improve although the prospect of high inflation and a
squeeze on real incomes should not be overlooked. Concerns remain
as to the size of government debt and the effect on the market and
the economy of further increases in interest rates.
The Group will continue to manage and develop its existing
portfolio and seek new opportunities.
I look forward to reporting further at the year end.
J Richard Wollenberg
Chairman
28 April 2022
Condensed Consolidated Interim Income Statement
FOR THE SIX MONTHSED 31 MARCH 2022
Six months Six months Year
31 March 31 March 30 September
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Revenue 348 322 596
Cost of sales (22) (48) (33)
______ ______ ______
Gross profit 326 274 563
Administrative expenses (274) (258) (502)
Other operating income 346 280 553
______ ______ ______
Operating profit before gains
on investment properties and other
investments 398 296 614
Fair value movement on revaluation
of investment properties - - 513
______ ______ ______
Operating profit 398 296 1,147
Financial income 25 28 54
Financial expense (4) - (9)
Share of results of Joint Venture 664 41 67
______ ______ ______
Profit before taxation 1,083 365 1,259
Taxation (73) (57) (181)
______ ______ ______
Profit for the period attributable
to equity holders 1,010 308 1,078
______ ______ ______
Earnings per share on profit for
the period - pence
Basic and diluted 91.03 26.0 91.91
______ ______ ______
Dividends
Final 2021 paid 13.5p (2020: 12.8p) 149 152 152
Interim 2021 paid 5.0p - - 59
______ ______ ______
149 152 211
______ ______ ______
Final 2021 proposed 13.5p - - 151
Interim 2022 proposed 5.5p (2021:
5.0p) 61 59 -
______ ______ ______
61 59 151
______ ______ ______
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 MONTHSED 31 MARCH 2022
Six months Six months Year
31 March 31 March 30 September
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Profit for the financial period 1,010 308 1,078
Items that cannot be reclassified
subsequently to profit or loss
Revaluation of investments (19) (19) 8
Items that may be reclassified subsequently
to profit or loss
Revaluation of other properties - - (21)
______ ______ ______
Total comprehensive income and expense
for the period attributable to equity
holders of the parent company 991 289 1,065
______ ______ ______
Condensed Consolidated Interim Balance Sheet
AT 31 MARCH 2022
31 March 31 March 30 September
2022 2021 restated 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Non-current assets
Freehold investment properties 5,956 5,410 5,968
Property, plant and equipment 241 230 240
Right of use asset 150 165 155
Investment in Joint Venture 15,554 16,364 15,890
Other financial assets 1,054 1,076 1,073
______ ______ ______
Total non-current assets 22,955 23,245 23,326
_____ _____ ______
Current assets
Stock and work in progress 689 688 689
Trade and other receivables 182 234 140
Held to maturity cash deposits 1,088 1,054 1,907
Cash and cash equivalents 5,192 4,696 3,594
______ ______ ______
Total current assets 7,151 6,672 6,330
______ ______ ______
Total assets 30,106 29,917 29,656
______ ______ ______
Current liabilities
Trade and other payables (511) (635) (752)
Corporation tax (240) (236) (158)
______ ______ ______
Total current liabilities (751) (871) (910)
______ ______ ______
Non-current liabilities
Lease liability (175) (184) (178)
Deferred tax liability (121) (63) (126)
______ ______ ______
Total non-current liabilities (296) (247) (1,214)
______ ______ ______
Total liabilities (1,047) (1,118) (1,214)
______ ______ ______
Net assets 29,059 28,799 28,442
______ ______ ______
Equity
Called up share capital 221 234 223
Share premium account 5,076 5,076 5,076
Other reserves 2,461 2,461 2,478
Investment property revaluation
reserve 1,814 1,273 1,814
Retained earnings 19,487 19,755 18,851
______ ______ ______
Shareholders' funds attributable
to equity holders 29,059 28,799 28,442
______ ______ ______
Net assets per share GBP26.30 GBP24.43 GBP25.49
______ ______ ______
Condensed Consolidated Interim Statement of Cash Flows
FOR THE SIX MONTHSED 31 MARCH 2022
Six months Six months Year
31 March 31 March 30 September
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Profit for the period 1,010 308 1,078
Adjustments for:
Depreciation right of use assets 5 - 10
Financial income (25) (28) (54)
Financial expense 4 - 9
Share of profit of Joint Venture (664) (41) (67)
Fair value movement on revaluation
on of investment properties - - (533)
Taxation 73 57 181
______ ______ ______
Cash flows from operations before
changes in
working capital 403 296 624
Acquisition of inventory and
work in progress - - (1)
(Increase)/decrease in trade
and other receivables (42) 4 97
(Decrease)/increase in trade
and other payables (241) 106 223
______ ______ ______
Cash generated from operations 120 406 943
Tax paid - 97 (43)
______ ______ ______
Net cash flows from operating
activities 120 503 900
______ ______ ______
Cash flows from investing activities
Interest received 30 22 49
Dividend from Joint Venture 1,000 - 500
Acquisition/(write down) of investments,
and property, plant and equipment 11 (19) (45)
Acquisition of investments - (169) (169)
Proceeds from sale of investment
property - 462 462
Decrease/(increase) in held term
deposits 818 694 (159)
______ ______ ______
Net cash flows from investing
activities 1,859 990 638
______ ______ ______
Cash flows from financing activities
Purchase of own shares (225) (418) (1,492)
Lease payments (7) - (14)
Dividends paid (149) (152) (211)
______ ______ ______
Net cash flows from financing
activities (381) (570) (1,717)
______ ______ ______
Net increase/(decrease) in cash
and cash equivalents 1,598 923 (179)
Cash and cash equivalents at
beginning of period 3,594 3,773 3,773
______ ______ ______
Cash and cash equivalents at
end of period 5,192 4,696 3,594
______ ______ ______
Condensed Consolidated Interim Statement of Changes in
Equity
FOR THE SIX MONTHSED 31 MARCH 2022
Investment
Share property
Share premium Other revaluation Retained Total
capital account reserves reserve earnings equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 1 October 2020 as
previously stated 239 5,076 2,475 3,139 18,170 29,099
Prior year adjustment - - - - (19) (19)
______ ______ ______ ______ ______ ______
At 1 October 2020 restated 239 5,076 2,475 3,139 18,151 29,080
Profit for the period - - - - 308 308
Other comprehensive
income - revaluation
of investments - - (19) - - (19)
Transactions with equity
holders
Dividends - - - - (152) (152)
Purchase of own shares (5) - 5 - (418) (418)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (5) - 5 - (570) (570)
______ ______ ______ ______ ______ ______
Transfer on revaluation
of investment properties
- Cardiff - - - (266) 266 -
Transfer on revaluation
of investment properties
- Campmoss - - - (1,600) 1,600 -
______ ______ ______ ______ ______ ______
At 31 March 2021restated 234 5,076 2,461 1,273 19,755 28,799
Profit for the period - - - - 770 770
Other comprehensive
income - revaluation
of investments - - (2) - - (2)
Revaluation of other
property - - 8 - - 8
Transactions with equity
holders
Dividends - - - - (59) (59)
Purchase of own shares (11) - 11 - (1,074) (1,074)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (11) - 11 - (1,133) (1,133)
______ ______ ______ ______ ______ ______
Transfer on revaluation
of investment properties
- Cardiff - - - 533 (533) -
Transfer on revaluation
of investment properties
- Campmoss - - - 8 (8) -
______ ______ ______ ______ ______ ______
At 30 September 2021 223 5,076 2,478 1,814 18,851 28,442
Profit for the period - - - - 1,010 1,010
Other comprehensive
income - revaluation
of investments - - (19) - - (19)
Transactions with equity
holders
Dividends - - - - (149) (149)
Purchase of own shares (2) - 2 - (225) (225)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (2) - 2 - (374) (374)
______ ______ ______ ______ ______ ______
______ ______ ______ ______ ______ ______
At 31 March 2022 221 5,076 2,461 1,814 19,487 29,059
______ ______ ______ ______ ______ ______
Statement of Responsibility
FOR THE SIX MONTHSED 31 MARCH 2022
The directors are responsible for preparing the condensed
consolidated interim financial statements for the six months ended
31 March 2022 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 2022 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
28 April 2022
Notes to the Condensed Consolidated Interim Financial
Statements
FOR THE SIX MONTHSED 31 MARCH 2022
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 2021.
The comparative figures for the financial year ended 30
September 2021 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 2022.
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 MONTHSED 31 MARCH 2021 (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 Property Development Eliminations Six months
other investment 31 March
2022
(Unaudited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 241 107 - 348
Profit before taxation 962 121 - 1,083
Net operating assets
Assets 27,074 4,882 (1,850) 30,106
Liabilities (2,680) (217) 1,850 (1,047)
Net assets 24,304 4,665 - 29,059
Property and Property Development Eliminations Six months
other investment 31 March
2021
(Unaudited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Revenue (wholly in
the UK) 230 92 - 322
Profit before taxation 260 105 - 365
Net operating assets
Assets 26,913 4,808 (1,969) 29,752
Liabilities (2,648) (255) 1,969 (934)
2
Net assets 24,265 4,553 - 28,818
Property and Property Development Eliminations Year September
other investment 2021
(Audited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 434 162 - 596
Property sales 462 - - 462
Profit before taxation 1,096 163 - 1,259
Net operating assets
Assets 26,607 4,851 (1,802) 29,656
Liabilities (2,765) (251) 1,802 (1,214)
Net assets 26,607 4,851 (1,802) 29,656
"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 5.5p per share will be paid on 30 June
2022 to shareholders on the register on 27 May 2022. Under
accounting standards this dividend is not included in the condensed
consolidated interim financial statements for the six months ended
31 March 2022.
5. Earnings per share
Earnings per share has been calculated using the profit after
tax for the period of GBP1,010,000 (March 2021: GBP308,000; year
ended September 2021: GBP1,078,000) and the weighted average number
of shares as follows:
Weighted average number of shares
31 March 31 March 30 September
2022 2021 2021
(Unaudited) (Unaudited) (Audited)
Basic and diluted 1,109,477 1,188,434 1,172,532
_________ _________ _________
Earnings per share (p) 91.03 25.96 91.91
_________ _________ _________
Directors and Advisers
Directors Auditor
J Richard Wollenberg PKF Littlejohn LLP
Chairman and chief executive
Karen L Chandler FCA
Finance director Stockbrokers and financial advisers
Shore Capital
Nigel D Jamieson BSc, FCSI
Independent non-executive director
Secretary Bankers
Karen L Chandler FCA HSBC Bank plc
Non-executive director of wholly owned Solicitors
subsidiary
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
2022 28 April Interim results for 2022 announced
26 May Ex-dividend date for interim dividend
27 May Record date for interim dividend
30 June Interim dividend to be paid
30 September End of accounting year
December Final results for 2022 announced
2023 January Annual General Meeting
February Final dividend to be paid
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END
IR BGGDSUBDDGDI
(END) Dow Jones Newswires
April 28, 2022 07:00 ET (11:00 GMT)
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