Sutton Harbour Group PLC Annual General Meeting Statement (4016Y)
September 09 2020 - 3:30AM
UK Regulatory
TIDMSUH
RNS Number : 4016Y
Sutton Harbour Group PLC
09 September 2020
9 September 2020
Sutton Harbour Group plc (the "Company")
Annual General Meeting Statement
The Chairman of Sutton Harbour Group plc will issue the
following update to shareholders attending today's AGM.
Since my last report on trading in early July, I am pleased to
update that business following the Lockdown has progressed to near
normal activity levels. The marinas have performed strongly, and
slightly better than the comparative season last year thus far,
buoyed by the trend for UK based holidays and family outdoor
activities. The car parks are now trading at almost normal levels
following a period of closure during the Lockdown and visitor
levels to Sutton Harbour have increased as restaurants and cafes
have re-opened and the area has become vibrant again as an
attractive outdoor leisure destination. Fishing activity continued
throughout the Lockdown period although low fish prices and reduced
fuel sales have resulted in lower revenues than the seasonal norm.
The Company has diverse mix of commercial tenants and has collected
80% of rental falling due with agreed payment plans to settle
arrears in place with some tenants.
Positive progress has been made with the development schemes
already consented and a major new scheme for which public
consultation has been undertaken and the planning application is
expected to be filed soon.
The plans that the Company put in place at the start of the
Lockdown, to increase the bank facility by GBP2m, to adapt
operations as UK Government guidance changed and to maintain close
contact with are customers, suppliers and stakeholders, has enabled
the Company to quickly restore revenues and to keep development
projects on track.
Enquiries
Sutton Harbour Group plc +44 (0) 1752 204186 Philip Beinhaker, Executive
Chairman
Natasha Gadsdon, Finance Director
Arden Partners +44 (0)20 7614 5917 Paul Shackleton, Ben Cryer
(NOMAD and Broker)
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Group plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
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END
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