Member Article

Cheshire property firm reports steady performance

A North West based property and construction group has today reported a small increase in profit for the six months to November 30 2013.

Pochin’s PLC, of Middlewich, Cheshire, has released its half yearly report, confirming a steady performance and a slight increase in post tax profits to £0.29 million from £0.27 million.

Turnover and profitability after tax are both in line with predictions and comparable to the same period in the previous year.

Richard Fildes, Pochin’s chairman, said: “The Group has put in a steady performance in the six months to 30th November 2013. After resolving the issues surrounding the joint ventures and following the disposal of the concrete pumping business, Pochin’s is now well placed to benefit from the improving conditions in our sector.”

“Revenues and profits remain consistent within our construction division, thanks to our strong client base and regional reputation. Our property division has maintained strong occupancy levels within its investment portfolio and is progressing with schemes including Altrincham Hospital and the exciting Cheshire FRESH project.”

In December, the Group confirmed that it had received an offer from James Nicholson and members of the Cederic Pochin concert party, which may or may not lead to an offer for the Group.

The deadline for the party making this approach to declare a firm intention has been extended to 3rd February and it is likely there will be a further update on or before this date.

This was posted in Bdaily's Members' News section by Graham Vincent .