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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dev.Secs. | LSE:DSC | London | Ordinary Share | GB0002668464 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 234.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2292U Development Securities PLC 15 January 2004 DEVELOPMENT SECURITIES INCREASES STAKE IN STEAD & SIMPSON Development Securities PLC has acquired 18% of the Ordinary Share Capital of shoe retailers Stead & Simpson. As a consequence, Development Securities has increased its holding in the retailer, in which it has long held an investment, from 20% to 38%. The consideration for the equity interest acquired was #127,500 compared to the value of the attributable net assets in Stead & Simpson of #1.1 million. Over recent years, under new management, the business has shown a significant improvement in performance. Stead & Simpson reported pre-tax earnings of #2.25 million for 2002, up from a level of #0.6 million the previous year. Sales revenues for 2002 totalled #125 million. On the back of increased revenues and margins, Stead & Simpson expects pre-tax earnings for 2003 to be significantly ahead of the previous year's levels. Michael Marx, Joint Managing Director of Development Securities PLC, commented: "We are very pleased with the recent trading performance at Stead & Simpson. We are not planning to increase our equity stake any further and the improved profile of the company should assist our orderly exit from this investment in the medium term." For further information: Michael Marx Development Securities PLC Tel: 020 7828 4777 Daniel de Belder The Communication Group plc Tel: 020 7630 1411 Or visit: www.developmentsecurities.com This information is provided by RNS The company news service from the London Stock Exchange END ACQUSVURSNRAAAR
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