Business Update

RNS Number : 3217V

Adalta Real PLC

01 November 2010

 



For Immediate Release                                                                                      1 November 2010

Adalta Real plc ("the Company")

Business Update

The Company is pleased to report on progress since announcing on 29 June 2010 its annual results to 31 March 2010.

The Company now has a formal contract with the major retail company it has been working with throughout 2010 and has generated income from its specific instructions and ongoing agency and consultancy activities. In addition, the Company has earned revenue from a growing number of local clients and also has a substantial number of such local instructions in the pipeline.

Total revenue in the first half of the current financial year is circa. £230,000 (the majority of which has been invoiced in August and September).  The Board is therefore satisfied that the commercial property and consultancy businesses are now up and running at levels which provide a sustainable Company business going forward.

The Company will continue to pursue further investment opportunities in the now well established agency and consultancy businesses as well as in a number of commercial property development projects currently in the pipeline.

The Board also hopes to announce further news soon in relation to additional appointments to the Company and a corporate acquisition in connection with the agency and consultancy businesses.

-- ENDS --

Enquiries:

Adalta Real Plc            Kevin M Gilmore, Executive Chairman	Tel: [phone] Mob: [phone]
Beaumont Cornish Limited Roland Cornish	Tel: [phone]

 

END

 

 

MSCMLBPTMBTTBAM