30th Sep 2010 10:00
SECURED PROPERTY DEVELOPMENTS PLC UNIT 6, ORCHARD MEWS, 42 ORCHARD ROAD, LONDON, N6 5TR UNAUDITED RESULTS FOR THE PERIOD TO 30th JUNE 2010 The unaudited results for the six months to 30th June 2010 can be compared withthose for the same period in 2009 and for the year to 31st December 2009 asfollows:- 6 months ended 6 months ended Year ended 30th June 2010 30th June 2009 31st December 2009 GBP GBP GBP TURNOVER 60362 72052 151325 Cost of Sales (4222) (10377) GROSS PROFIT 56140 72052 140948 Administrative expenses (41854) (29293) (69584) OPERATING PROFIT FROM 14286 42759 71364 CONTINUING OPERATIONS Interest received 2309 3260 5844 Interest Paid (51978) (50778) (102896) (LOSS) ON ORDINARY ACTIVITIES (35383) (4759) (25688) BEFORE TAXATION Taxation - - - (LOSS) AFTER TAXATION (35383) (4759) (25688) (Loss) per share (1.8)p. (0.02)p (1.3)p
Gross profit has reduced due to one of the Group's properties becoming vacant and a general increase in administrative costs. In the current economic climate trading conditions remain difficult but every effort is being made to take advantage of opportunities when they occur.
David DuffieldChairman28th September 2010
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