26th Jun 2019 14:40
(Alliance News) - Heavitree Brewery PLC said Wednesday that profit for the first half of its financial year dropped due to lower gains on property sales, despite a rise in revenue.
For the six months to the end of April, pretax profit dropped to GBP705,000 from GBP1.3 million the year before, as profit on the sale of property, plant and equipment fell substantially to GBP173,000 from GBP830,000.
During the interim period, the leased pub company sold a house on the St Loye's Hotel site in Exeter in February.
Revenue grew by 0.9% to GBP3.43 million from GBP3.40 million the prior year.
Heavitree Brewery paid an interim dividend of 3.675 pence per share, in line with the year before.
"I am pleased with this steady performance for the half year, with the company trading in line with last year and I feel, despite the continuing political uncertainty, we are well-positioned going into the second half of the year," said Chair Nicholas Tucker.
Shares in Heavitree Brewery were untraded on Wednesday, last quoted at 445.00 pence.
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