18th Jun 2020 14:01
(Alliance News) - Mountview Estates PLC on Thursday kept its dividend payment unchanged despite reporting a mixed performance in its most recently ended financial year.
The property management company reported a revenue decline of 0.8% in the year to the end of March to GBP64.9 million from GBP65.4 million a year prior, while pretax profit was up 0.9% to GBP34.9 million from GBP34.6 million.
"Whilst revenue has dropped by a very modest amount, all the other performance indicators have shown an upward trend. Gearing has fallen from 11.3% to 7.2% and thus we are in an even stronger position to make the purchases which are essential to the future of the company," said Chair Duncan Sinclair.
Mountview Estates said it will be paying a final dividend of 200 pence a share for the year, unchanged from the year before, taking the total payout for the year to 400p.
Looking ahead, Sinclair added: "I remain confident that our years of financial prudence will enable us to continue to conduct the business successfully and to maintain our dividend payments."
Mountview Estates shares were trading 2.0% higher in London on Thursday at 10,400.00p each.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Mountview Est.