TIDMCDFF
RNS Number : 3366Y
Cardiff Property PLC
04 May 2023
THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY
AND ITS SUBSIDIARIES
FOR RELEASE 7.00 AM 4 May 2023
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 2023
Highlights:
Six months Six months Year
31 March 31 March 30 September
2023 2022 2022
(Unaudited) (Unaudited) (Audited)
Net assets GBP'000 29,657 29,059 29,812
Net assets per share GBP 28.00 26.30 27.56
Profit before tax GBP'000 653 1,083 2,697
Earnings per share
(basic and diluted) pence 49.42 91.03 218.23
Interim/total dividend
proposed per share pence 6.0 5.5 20.5
Gearing % Nil Nil Nil
Richard Wollenberg, Chairman, commented:
Activity in the Thames Valley property market improved in the
first quarter of this year following historically low levels at the
end of 2022. Business confidence has been affected by political and
economic uncertainties with increases in interest rates delaying
any immediate prospects of recovery.
The office rental market remains slow despite employees
returning to the workplace, albeit with flexible working hours. The
office investment market in certain areas of the Thames Valley has
seen interest from overseas investors but again the number of
completed transactions is low.
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 2023
INTERIM MANAGEMENT REPORT
Dear Shareholder,
Activity in the Thames Valley property market improved in the
first quarter of this year following historically low levels at the
end of 2022. Business confidence has been affected by political and
economic uncertainties with increases in interest rates delaying
any immediate prospects of recovery.
The office rental market remains slow despite employees
returning to the workplace, albeit with flexible working hours. The
office investment market in certain areas of the Thames Valley has
seen interest from overseas investors but again the number of
completed transactions is low.
The Group achieved new retail lettings at Market Street,
Bracknell primarily as a result of existing tenants renewing leases
for terms of up to 5 years at similar passing rents. A number of
rent reviews were agreed at marginally higher levels assisted by
previously agreed increases linked to the Retail Price Index.
Similar rental increases were achieved at Maidenhead Enterprise
Centre, Maidenhead which consists of small business units with
industrial warehouse use on the ground floor and offices above.
Management and liaison with the Group's tenants remains a
priority and whilst trading generally appears to be returning to
pre-pandemic levels, inflation worries and increasing general
business outgoings are of concern. Where necessary deferment of
rent has been agreed with monthly rather than the usual quarterly
payments.
Residential values in the Thames Valley have experienced a
downturn whilst rental levels remained firm. Small increases have
been achieved at the Group's Bracknell residential portfolio all of
which continue to be let on Assured Shorthold Tenancies.
FINANCIALS
For the 6 months ending 31 March 2023 profit before tax amounted
to GBP0.65m (March 2022: GBP1.08m; September 2022; GBP2.70m). This
figure includes an after-tax profit from Campmoss Property Company
Limited ("Campmoss") our 47.62% joint venture of GBP0.12m (March
2022: GBP0.66m; September 2022: GBP0.87m). No dividends were
received from the Company's investment in Campmoss (March 2022:
GBP1.0m, September 2022: GBP3.0m).
Revenue for the 6 months to 31 March 2023 represented by rental
income, totalled GBP0.34m (March 2022: GBP0.35m, September 2022:
GBP0.70m). The Group's share of revenue from Campmoss was GBP0.29m
(March 2022: GBP7.75m, September 2022: GBP8.9m), represented by
rental income of GBP0.29m (March 2022: GBP0.28m; September 2022;
GBP0.70m). No property sales were completed during the six months
to March 2023 (March 2022: GBP7.47m, September 2022 GBP8.2m).
Rental income and sales figures for Campmoss are not included in
Group revenue.
Net assets of the Group as at 31 March 2023 were GBP29.66m
(March 2022: GBP29.06m, September 2022: GBP29.81m), equivalent to
GBP28.00 per share (March 2022: GBP26.30; September 2022:
GBP27.56). The Company's share of net assets in Campmoss, included
on the Group balance sheet, amounted to GBP13.88m (March 2022:
GBP15.55m, September 2022: GBP13.76m).
Substantial cash balances are held on short term deposit by both
Cardiff and Campmoss, at the half year the company had GBPnil
gearing (March 2022: GBPnil September 2022 GBPnil).
The directors are of the opinion, 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 2023.
As in previous years the freehold investment properties held by
Cardiff will be professionally valued at 30 September 2023.
The Company may hold in treasury any of its own shares purchased
which gives the Company the ability to re-issue treasury shares and
provide greater flexibility in the management of its capital
base.
During the 6 months to 31 March 2023 the Company purchased
22,577 ordinary shares (March 2022: 10,969 ordinary shares,
September 2022: 34,199 ordinary shares). All shares purchased by
the Company not held in treasury have been cancelled and the number
of shares in issue reduced accordingly. There have been no material
events or material changes in assets, liabilities or related party
relationships since 30 September 2022.
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 investment in Campmoss Property,
the 47.62% owned joint venture, which represents 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 only, based on the value in the company's balance sheet at
31 March 2023 this would result in a tax liability of GBP3.47m
(March 2022: GBP3.89m, September 2022: GBP3.44m) equivalent to
GBP3.28 per share calculated using a tax rate of 25% (March 2022:
GBP3.52 per share, September 2022: GBP3.18 per share). This
information is provided to shareholders as an additional,
non-statutory, disclosure.
DIVID
The directors have declared an interim dividend of 6.0p per
share (interim March 2022: 5.5p; final September 2022: 15.0p) an
increase of 9.1% which will be paid on 29 June 2023 to shareholders
on the register at 26 May 2023.
THE INVESTMENT & DEVELOPMENT PORTFOLIO
The Group's freehold property portfolio, including those held by
Campmoss, remains located in the Thames Valley and in the
neighbouring counties of Surrey, Berkshire and Buckinghamshire.
Maidenhead Enterprise Centre, Maidenhead, comprises 6 individual
business units totalling 14,000 sq. ft. Units include industrial
use on the ground floor with offices above. All units are let on a
mixture of short and medium term leases.
The White House, Egham, comprises 5 ground floor retail units
with air-conditioned offices on the upper floor. Following the
expiry of leases one retail unit and part of the upper floor
offices are available for letting.
The Windsor Business Centre, Windsor, comprises 4 business units
all of which are let on leases inclusive of a development break
clause. A planning application for the renewal of an existing
consent for a new 21,000 sq. ft. office scheme has been submitted
and agents retained to seek pre-lettings. A decision to commence
development is likely to depend on securing suitable lettings. The
units remain available for sale.
Heritage Court, Egham, comprises 4 retail units let on medium
term Leases with the upper floor residential apartments previously
sold on long leaseholds. The adjoining freehold office property 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.
Market Street, Bracknell, includes 4 adjacent buildings divided
into 33 retail units and 17 individual apartments on the upper
floors of two of the buildings. All retail units are let on medium
term leases with the apartments let on Assure Shorthold Tenancy
Agreements. The apartments are also available for sale.
The Priory, Stomp Road, Burnham, comprises 17,000 sq. ft. of
office space and an adjoining business centre occupying 9,000 sq.
ft. At the beginning of the year planning permission was granted
for a new 70-bedroom care home whilst retaining the existing
business centre. Negotiations are currently taking place to achieve
a leasing commitment for the care home with a view to proceeding
with the development.
Highway House, Maidenhead retains a planning permission for a
new 48,000 sq. ft. gross Grade A office scheme. Any commencement of
construction would be subject to achieving sufficient pre-lettings
which has so far proved unsuccessful. A planning application for
residential use was recently refused and alternative uses for the
site are being examined. The cleared site is currently leased as a
car park to an adjoining office user.
MANAGEMENT AND TEAM
Management of the Group's portfolio and its tenants is
undertaken by our small team based in Egham and I wish to take this
opportunity of thanking all members and our joint venture partner
for their dedication 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
The majority of business owners wish to progress their
individual businesses despite uncertainties. There are occasional
glimmers of confidence returning to the property market and over
the last few weeks the number of enquiries has exceeded
expectations. I do not expect any marked increase in rentals or
values in the short term but a return to full occupancy and
increased trading levels will provide encouragement for the
business community which in turn should benefit the property
market.
The Group has a number of projects in hand, and I look forward
to reporting further at the year end.
J Richard Wollenberg
Chairman
3 May 2023
Condensed Consolidated Interim Income Statement
FOR THE SIX MONTHSED 31 MARCH 2023
Six months Six months Year
31 March 31 March 30 September
2023 2022 2022
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Revenue 339 348 703
Cost of sales (16) (22) (64)
______ ______ ______
Gross profit 323 326 639
Administrative expenses (300) (274) (461)
Other operating income 322 346 574
______ ______ ______
Operating profit before gains
on investment properties and other
investments 345 398 752
Fair value movement on revaluation
of investment properties - - 299
______ ______ ______
Operating profit 345 398 1,051
Financial income 114 25 80
Financial expense (3) (4) (8)
Profit on sale of investments 75 - -
Profit on sale of investment properties - - 706
Share of results of Joint Venture 122 664 868
______ ______ ______
Profit before taxation 653 1,083 2,697
Taxation (123) (73) (291)
______ ______ ______
Profit for the period attributable
to equity holders 530 1,010 2,406
______ ______ ______
Earnings per share on profit for
the period - pence
Basic and diluted 49.42 91.03 218.23
______ ______ ______
Dividends
Final 2022 paid 15.0p (2021: 13.5p) 161 149 150
Interim 2022 paid 5.5p - - 60
______ ______ ______
161 149 210
______ ______ ______
Final 2022 proposed 15.0p - - 162
Interim 2023 proposed 6.0p (2022:
5.5p) 64 61 -
______ ______ ______
64 61 162
______ ______ ______
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 2023
Six months Six months Year
31 March 31 March 30 September
2023 2022 2022
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Profit for the financial period 530 1,010 2,406
Items that cannot be reclassified
subsequently to profit or loss
Net change in fair value of other
properties - - 59
Net change in fair value of investments 22 (19) (94)
______ ______ ______
Total comprehensive income and expense
for the period attributable to equity
holders of the parent company 552 991 2,371
______ ______ ______
Condensed Consolidated Interim Balance Sheet
AT 31 MARCH 2023
31 March 31 March 30 September
2023 2023 2022
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Non-current assets
Freehold investment properties 5,985 5,956 5,985
Property, plant and equipment 300 241 300
Right of use asset 140 150 145
Investment in Joint Venture 13,880 15,554 13,758
Other financial assets 837 1,054 898
______ ______ ______
Total non-current assets 21,142 22,955 21,086
_____ _____ ______
Current assets
Stock and work in progress 704 689 694
Trade and other receivables 244 182 223
Held to maturity cash deposits 8,263 1,088 4,041
Cash and cash equivalents 444 5,192 4,912
______ ______ ______
Total current assets 9,655 7,151 9,870
______ ______ ______
Total assets 30,797 30,106 30,956
______ ______ ______
Current liabilities
Trade and other payables (581) (511) (599)
Corporation tax (215) (240) (198)
______ ______ ______
Total current liabilities (796) (751) (797)
______ ______ ______
Non-current liabilities
Lease liability (168) (175) (172)
Deferred tax liability (176) (121) (175)
______ ______ ______
Total non-current liabilities (344) (296) (347
______ ______ ______
Total liabilities (1,140) (1,047) (1,144)
______ ______ ______
Net assets 29,657 29,059 29,812
______ ______ ______
Equity
Called up share capital 212 221 216
Share premium account 5,076 5,076 5,076
Other reserves 2,476 2,461 2,450
Investment property revaluation
reserve 2,095 1,814 2,095
Retained earnings 19,798 19,487 19,975
______ ______ ______
Shareholders' funds attributable
to equity holders 29,657 29,059 29,812
______ ______ ______
Net assets per share GBP28.00 GBP26.30 GBP27.56
______ ______ ______
Condensed Consolidated Interim Statement of Cash Flows
FOR THE SIX MONTHSED 31 MARCH 2023
Six months Six months Year
31 March 31 March 30 September
2023 2022 2022
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Profit for the period 530 1,010 2,406
Adjustments for:
Depreciation right of use assets 5 5 10
Financial income (114) (25) (80)
Financial expense 3 4 8
Profit on sale of investment
property - - (706)
Profit on sale of investment (75) - -
Share of profit of Joint Venture (122) (664) 868)
Fair value movement on revaluation
on of investment properties - - (299)
Taxation 123 73 291
______ ______ ______
Cash flows from operations before
changes in
working capital 350 403 762
Acquisition of inventory and
work in progress (10) - (5)
(Increase)/decrease in trade
and other receivables (28) (42) (67)
(Decrease)/increase in trade
and other payables (18) (241) (128)
______ ______ ______
Cash generated from operations 294 120 562
Tax paid (98) - (218)
______ ______ ______
Net cash flows from operating
activities 196 120 344
______ ______ ______
Cash flows from investing activities
Interest received 114 30 81
Dividend from Joint Venture - 1,000 3,000
Proceeds from sale of investment
property - - 1,000
Acquisition of investments, and
property, plant and equipment - 11 (39)
Proceeds from sale of investments 158 - 81
(Increase)/decrease in held term
deposits (4,222) 818 (2,134)
______ ______ ______
Net cash flows from investing
activities (3,950) 1,859 1,989
______ ______ ______
Cash flows from financing activities
Purchase of own shares (546) (225) (791)
Lease payments (7) (7) (14)
Dividends paid (161) (149) (210)
______ ______ ______
Net cash flows from financing
activities (714) (381) (1,015)
______ ______ ______
Net decrease/(decrease) in cash
and cash equivalents (4,468) 1,598 1,318
Cash and cash equivalents at
beginning of period 4,912 3,594 3,594
______ ______ ______
Cash and cash equivalents at
end of period 444 5,192 4,912
______ ______ ______
Condensed Consolidated Interim Statement of Changes in
Equity
FOR THE SIX MONTHSED 31 MARCH 2023
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 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
Profit for the period - - - - 1,396 1,396
Other comprehensive
income - revaluation
of investments - - (75) - - (75)
Net change in fair value
of own use freehold
property - - 59 - - 59
Transactions with equity
holders
Dividends - - - - (61) (61)
Purchase of own shares (5) - 5 - (566) (566)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (5) - 5 - (627) (627)
______ ______ ______ ______ ______ ______
Fair value movement
on investment properties
- Cardiff - - - 299 (299) -
Disposal of property
- Cardiff - - - (171) 171 -
Fair value movement
on investment properties
- Campmoss Group - - - 153 (153) -
At 30 September 2022 216 5,076 2,450 2,095 19,975 29,812
Profit for the period - - - - 530 530
Other comprehensive
income - revaluation
of investments - - 22 - - 22
Transactions with equity
holders
Dividends - - - - (161) (161)
Purchase of own shares (4) - 4 - (546) (546)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (4) - 4 - (707) (707)
______ ______ ______ ______ ______ ______
At 31 March 2023 212 5,076 2,476 2,095 19,798 29,657
______ ______ ______ ______ ______ ______
Statement of Responsibility
FOR THE SIX MONTHSED 31 MARCH 2023
The directors are responsible for preparing the condensed
consolidated interim financial statements for the six months ended
31 March 2023 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 2023 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
3 May 2023
Notes to the Condensed Consolidated Interim Financial
Statements
FOR THE SIX MONTHSED 31 MARCH 2023
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 2022.
The comparative figures for the financial year ended 30
September 2022 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 2023 (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 Property Eliminations Six months
and other Development 31 March
investment 2023
(Unaudited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 223 116 - 339
Profit before taxation 376 277 - 653
Net operating assets
Assets 28,665 5,154 (3,022) 30,797
Liabilities (3,916) (246) 3,022 (1,140)
Net assets 24,749 4,908 - 29,657
Property and Property Development Eliminations Six months
other investment 31 March
2022
(Unaudited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Revenue (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 Year September
other investment 2022
(Audited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 494 209 - 703
Property sales 706 - - 706
Profit before taxation 2,433 264 - 2,697
Net operating assets
Assets 27,006 5,038 (1,088) 30,956
Liabilities (1,936) (296) 1,088 (1,144)
Net assets 25,070 4,742 - 29,812
"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 6.0p per share will be paid on 29 June
2023 to shareholders on the register on 26 May 2023. Under
accounting standards this dividend is not included in the condensed
consolidated interim financial statements for the six months ended
31 March 2023.
5. Earnings per share
Earnings per share has been calculated using the profit after
tax for the period of GBP530,000 (March 2022: GBP1,010,000, year
ended September 2022: GBP2,406,000) and the weighted average number
of shares as follows:
Weighted average number of shares
31 March 31 March 30 September
2023 2022 2021
(Unaudited) (Unaudited) (Audited)
Basic and diluted 1,072,675 1,109,477 1,102,357
_________ _________ _________
Earnings per share (p) 49.42 91.03 218.23
_________ _________ _________
Directors and Advisers
Directors Auditor
J Richard Wollenberg MHA MacIntyre Hudson
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
2023 4 May Interim results for 2023 announced
25 May Ex-dividend date for interim dividend
26 May Record date for interim dividend
29 June Interim dividend to be paid
30 September End of accounting year
December Final results for 2023 announced
2024 January Annual General Meeting
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