Interim Management Statement (7083B)
April 20 2012 - 1:00AM
UK Regulatory
TIDMPCH
RNS Number : 7083B
Pochin's PLC
20 April 2012
Pochin's PLC
("Pochin's" or the "Group")
Interim Management Statement
This Interim Management Statement covers the period from 31
January 2012 to date.
Construction
During the period the construction division has continued to
deliver the improvement in performance referred to in the half year
report. Secured work has increased and the division has a strong
order book for next year.
Concrete Pumping
The Group has previously announced its intention to dispose of
the concrete pumping division, with negotiations having reached an
advanced stage. It is therefore unfortunate to report that these
negotiations did not reach a successful conclusion, although
discussions have resumed with other interested parties and the
Group continues to work with its external advisers to complete the
disposal.
Property
While the previously expressed concerns about values of regional
and commercial property remain, the Group's portfolio continues to
perform well with few tenant defaults or voids arising. Progress
has been achieved in the non-core asset disposal programme.
Group
The delay in the disposal of the concrete pumping business,
albeit classified as a discontinued activity, will be reflected in
the year end result. The Group's core activities of construction
and commercial property investment and development are performing
well in current market conditions.
Richard Fildes
Chairman
Pochin's Plc
20 April 2012
Enquiries:
Pochin's PLC
John Moss, Chief Executive 01606 833 333
John Edwards, Finance Director
Charles Stanley Securities 020 7149 6000
Russell Cook
Carl Holmes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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