2nd Apr 2008 07:00
Wynnstay Properties PLC02 April 2008 Wynnstay Properties PLC ("the Company") Trading Update Wynnstay Properties is pleased to announce that the Company anticipates asatisfactory outcome for the financial year ended 25 March 2008. During the year the Company has surrendered its lease on offices in the City andhas substantially reduced its overheads. The Company's independent valuers, Sanderson Weatherall, have revalued theCompany's investment properties at 25 March 2008 in the total sum of£21,380,000, representing a like-for-like reduction of £135,000 or under 1percent over the corresponding value one year earlier. Taking account of the above factors, there is little change in the underlyingnet asset value of the Company's shares as at 25 March 2008, other than thatbrought about through the adoption of the I.F.R.S. (International FinancialReporting Standards) which reflects in the balance sheet the possible capitalgains tax liability that may arise on the property valuations reported. The Company's final results will be announced on or about 18 June 2008 and theAnnual Report and Financial Statements will be posted to Shareholders shortlythereafter. Enquiries: Wynnstay Properties plcToby Parker, Finance Director - 020 7745 7160 Nominated Adviser & BrokerCharles Stanley SecuritiesRick Thompson / Carl Holmes: - 020 7149 6000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wynnstay Props.