Preliminary results for the year to 31 March 2003

Released: 05/06/2003

Helical de-risks

Highlights

• Pre-tax profits of £25.2m (2002: £22.6m) - up 12 per cent


• Total ordinary dividend of 15.00p per share (2002 : 13.75p) - up 9 per cent


• Adjusted diluted net asset value of 770p per share (2002 : 769p) - unchanged


• “Triple net” asset value of 702p per share (2002 : 663p) - up 6 per cent


• Current gearing of 45% (6 June 2002 : 89%)


• £190m of London and South East office investment sales since January 2002.

John Southwell, Chairman, commented;

“At a time of cyclical downturn in the London office market we have sought to protect our long term growth record by scaling down our development activity and de-risking our investment portfolio. We have accepted more pedestrian short term returns because we believe our enhanced capacity to take advantage of any future market weakness will more than compensate in the future.”

Further information:

Helical Bar plc	Tel: 020 7629 0113
Michael Slade (Managing Director)	after 2.00 p.m.
Nigel McNair Scott (Finance Director)

Issued by:

Financial Dynamics	Tel: 020 7831 3113
Stephanie Highett/Dido Laurimore

View the full preliminary results (PDF, 182KB).

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