Interim Management Statement
10 February 2010 - 9:41PM
UK Regulatory
TIDMWRN
RNS Number : 9432G
Worthington Group PLC
10 February 2010
Worthington Group plc
Interim Management Statement
Worthington Group plc provides an Interim Management Statement for the period
from 1 October 2009 to the date of this announcement, as required by the UK
Listing Authority's Disclosure and Transparency Rules.
Head office rental receipts and costs are in line with expectations during the
period. Interest receipts have been favourable with the completion and repayment
of one bridging loan in November together with the commencement of a new
bridging loan in excess of GBP650,000, secured by a first charge on property.
Trimmings by Design Limited our associate company continues to trade at a loss.
This represents an accounting loss only and does not affect our cash position.
Pension fund returns for the quarter to 31 December 2009 in respect of the
property investments were ahead of benchmark returns whilst the rest of the
investment portfolios have been broadly in line with the benchmark returns
sought.
The property at Keighley continues to be well let although there is no further
progress to report as regards redevelopment plans.
We continue to seek suitable investments for the business and in the meantime
plan to continue to lend out the cash on short term bridging loans at favourable
interest rates.
Enquiries:
Joe Dwek CBE, Chairman
Worthington Group plc
Tel: 01625 549082
Website: www.worthingtongroupplc.co.uk
10 February 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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