26th Jul 2005 12:00
Workspace Group PLC26 July 2005 WORKSPACE MAINTAINS PROGRESS AT AGM Speaking at today's Annual General Meeting, Tony Hales, the Chairman ofWorkspace Group PLC ("Workspace") made the following statement: " We are well advanced in achieving our current acquisitions target havingalready completed four acquisitions totalling £39.7m in the year to date, withothers in legal hands. A separate announcement on these is being publishedtoday. " Despite the fact that the overall economic environment is becoming morechallenging, we have still been able to achieve an increase in the like-for-likerent roll over the quarter of £0.28m. Progress on our key projects at Southbank,Enterprise and Clerkenwell is good. Like-for-like occupancy of our portfolioexcluding development schemes and new acquisitions remains at approximately 90%.Taking into account our development schemes and acquisitions overall occupancyat the quarter end was 86%. " It is still too early to assess the impact of the bombings and incidents inLondon on July 7th and 21st. However, we have been able to maintain ouroperations un-interrupted and we continue to monitor developments here and inthe economy generally. " We anticipate releasing our results for the three months to the end of June2005 on 1 September 2005. This will include, for the first time in a quarterlystatement, an external valuation and will be based on the new InternationalFinancial Reporting Standards (IFRS). " Finally, we are delighted with the decision to award the 2012 Olympics toLondon. This will boost London's economy and accelerate urban regeneration inEast London, an area we know well. With our London focus and our SME customerbase the Group should benefit from this investment in the Capital. " The opportunities for Workspace remain considerable. Your Board is committedto meeting the challenges and maintaining growth in shareholder value byproviding affordable, flexible space for the new and small businesses that formthe heart of the London economy." -ends- Date: 26 July 2005 For further information: Workspace Group PLC City Profile GroupHarry Platt, Chief Executive Simon CourtenayMark Taylor, Finance Director Oliver Winters020-7247-7614 020-7448-3244 web: www.workspacegroup.co.uk------------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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