21st Apr 2015 07:55
LONDON (Alliance News) - Sutton Harbour Holdings PLC said Tuesday it expects to meet full-year market forecasts on the back of solid trading in the fourth quarter of its financial year.
The company, which owns and develops waterfront property in Plymouth in Devon, said trading continued in line with its expectations in the second half of its financial year to the end of March.
Sutton Harbour said its average occupancy rate rose to 93.3% by year-end, up from 82.8% a year earlier, on the back of the letting of vacant properties. Its Plymouth Fisheries unit saw record fish landings in the year, while car parking revenue grew year-on-year and its marina business improved occupancy levels.
The company said it expects its full-year results to meet market forecasts and will publish its results in late June.
Despite the positive update, shares in Sutton Harbour were down 2.3% to 32.00 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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