PNS Panther Securities Plc

 
TIDMPNS 
 
7 March 2018 
 
Prior to publication, the information contained within this announcement was 
deemed by the Company to constitute inside information as stipulated under the 
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of 
this announcement, this information is now considered to be in the public 
domain. 
 
                            Panther Securities PLC 
 
                        (the "Company" or the "Group") 
 
                                Trading update 
 
The Board of Panther Securities PLC is pleased to announce that, based on 
preliminary unaudited information, it expects the profit after taxation for the 
year ended 31 December 2017 to be of the order of GBP20 million, which has arisen 
as a result of the following principal factors: 
 
  * The Directors sought an independent revaluation of the Group's entire 
    portfolio at 31 December 2017 which will likely result in an increase in 
    valuation at 31 December 2017 of approximately GBP16 million; 
 
  * The Group's interest rate swaps liability at 31 December 2017 showed a 
    positive movement of approximately GBP2 million over the financial year; 
 
  * The Board expects to report a profit of approximately GBP1 million on the 
    sale of a number of investment properties.  In addition, the sale of most 
    of our investment shares produced a profit of over GBP1 million; and 
 
  * Rental income has held up very well in a tough environment for retailers. 
 
The above expected Group profit after taxation in the order of GBP20 million does 
not include any additional profit that would arise on the completion of the 
sale of Holloway Head, Birmingham.  On 30 November 2017, the Company announced 
that the contract had been extended, with the purchaser seeking to complete at 
the beginning of March 2018.  The purchaser was not in a position to complete 
and has been granted a further extension of five weeks, at a cost of GBP40,000 
per week.  In the event that completion takes place before the accounts for the 
year ended 31 December 2017 are signed, under the accounting standards, an 
additional profit after taxation of GBP3.8 million would be achieved as part of 
the results for the year ended 31 December 2017. 
 
The Board expect to announce the audited results for the year ended 31 December 
2017 in late April 2018. 
 
For further information: 
 
Panther Securities plc:                              Tel: 01707 667 300 
 
Andrew Perloff/ Simon Peters 
 
Allenby Capital Limited (Nomad and Joint             Tel: 020 3328 5656 
Broker) 
 
David Worlidge/ Alex Brearley 
 
 
 
END 
 

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