Interim Results
Friday, December 22, 2006
Your Space Plc
21 December 2006
Your Space Plc (“Your Space” or the “Company”) is pleased to announce its unaudited Interim Results for the six months ended 30 September 2006
HIGHLIGHTS:
· Pre-tax profit in period of £4.8m
· Post tax earnings per share 18.34p
· £16m of cash generated from operations
· Interim dividend of 10p a share to be paid
· Return on capital employed of 26%
· Transition from investment business to trading company is highly successful
Chairman’s statement
I am pleased to announce that the half-year results show that Your Space plc’s transition under the new management team is gaining apace. Profit before taxation for the period was £4.8m compared to £1.5m (restated) for the same period last year with post tax earnings of 18.34p (2005: 7.73p restated).
As a consequence of the success that the group is enjoying, I am also pleased to announce an interim dividend of 10p a share. The interim dividend will be payable to shareholders on the register at 5th January 2007. This takes the total dividends paid in the period to 20p, including the 10p special dividend paid in July.
It is the Boards intention to recommend a final dividend subject to there being sufficient distributable reserves at that time.
I would like to thank all the employees in the group who I know are working hard to grow the Your Space brand and their efforts are appreciated by the Board.
Finally I would also like to make a special thanks to my fellow non-executive directors who with myself have a wealth of experience in the UK property market and who continue to identify property assets with development potential under the format of the Your Space plc business model.
Chris Phillips Non executive chairman
