5th Sep 2018 13:15
LONDON (Alliance News) - Trafalgar Property Group PLC on Wednesday reported a sharply widened loss for 2018 financial year due to lower sales activity and increased administrative costs, which included expenses relating the March acquisition of Beaufort Homes Ltd.
The residential and assisted living property developer, however, added that it remains well placed to deliver significantly improved results for future trading years and will continue to explore potential for acquiring new sites.
The company, which was formerly called Trafalgar New Homes PLC, recorded a pretax loss of GBP424,903 for the year ended March 31, compared with a pretax loss of GBP287,532 in the year ago period, on a revenue of GBP906,484 and GBP30,000, respectively. Administrative expenses jumped to GBP440,014 from GBP270,263.
Shares in the company were trading 5.7% lower at 0.85 pence each.
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