Terrace Hill Group PLC
13 April 2004
Terrace Hill Group plc ('the Group')
Trading Update - Material Uplift in Net Asset Value
Valuations of investment properties being obtained by the Group for the end of
its current financial half year on 30 April 2004 indicate a substantial uplift
in value of at least £7,000,000 (which equates to 15% of the Group's last
published Net Asset Value £46,634,255 or 30.3p per share at 31 October 2003).
The Group announces that it intends in future to provide an estimate of the
amount by which the value of its current assets exceeds their book value. Much
of the Group's substantial development programme (£200 million in hand and a
further £200 million projected) is shown as a current asset at cost and given
that some of the developments are long term there is a risk that shareholders
would without this information not be fully informed. It is intended that the
first such exercise will be carried out with the Group's audited accounts for
the year to 31 October 2004.
Robert Adair, Group Chairman, commented: ' I am very pleased with the progress
which our Group is continuing to make following our merger with Westview Group.
We saw achievements in our strategy very quickly after the merger, continue to
see that, and now have a business and an asset base which, I believe, should
deliver good growth in shareholder value over the coming years. '
Contacts: Robert Adair, Chairman - 01845 537 037
Ross Macdonald, Joint Managing Director - 0141 332 2014
(until 13 April 2004)
Alasdair Robinson, Noble & Company Limited - 0131 225 9677
This information is provided by RNS
The company news service from the London Stock Exchange
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