Stewart & Wight PLC Interim Management Statement (2125J)

TIDMSTE

RNS Number : 2125J

Stewart & Wight PLC

07 September 2016

STEWART & WIGHT PLC

845 FINCHLEY ROAD, LONDON NW11 8NA

TEL: [phone] FAX: [phone]

ANNOUNCEMENT

Interim Management Statement

7 September 2016

In today's Interim Statement the Directors of Stewart & Wight plc announce an update on trading as follows:-

   1.         All of the Company's properties are let and the tenants are up-to-date with their rents. 

2. Since June, the Company has sold both of its properties in South Shields - one at a gain of approximately GBP40,000 over its valuation at 31 March 2016 and the other at a loss of approximately GBP30,000.

3. Planning permission has been obtained for the erection of three studio apartments at the rear of the Company's property in Weybridge. The Board are evaluating whether to carry out the development.

4. Since the beginning of the year, we have seen a noticeable increase in demand from retailers for

units in a number of towns.  However, the market remains   uncertain. 

5. There appears to be greater interest in retail investments valued below GBP1m from private investors seeking to receive a realistic return on their savings.

David Cramer

Director

For enquiries about buying and selling shares in Stewart and Wight Plc please contact Mr Lawrence Marshom , Walker Crips Stockbrokers Limited, Finsbury Tower,103-105 Bunhill Row, London ,EC1Y 8LZ.Telephone:[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 07, 2016 06:52 ET (10:52 GMT)