London & Associated Properties Plc Trading Update

 
TIDMLAS 
 
FOR IMMEDIATE RELEASE 
 
6 JUNE 2022 
 
 
    This announcement contains information for the purposes of Article 7 of 
 Regulation (EU) No 596/2014 which is part of UK law by virtue of the European 
                          Union (Withdrawal) Act 2018 
 
 
                      London & Associated Properties PLC 
 
                           ("LAP" or the "Company") 
 
 
                                TRADING UPDATE 
 
 
Further to the Company's 2021 financial results published on 28 April 2022 (the 
"Full Year Results"), the Company is pleased to provide the following update on 
current trading. 
 
When reporting on the results of our fully consolidated (but 41.52% owned) 
subsidiary Bisichi PLC in the Full Year Results, it was stated that coal market 
conditions had improved in 2022 and that in the first quarter of 2022, weekly 
API4 coal prices averaged US$238 per metric tonne and the export coal sales 
from the Company's South African operations were in line with the average 
export tonnages achieved in 2021. Bisichi now confirms that coal market 
conditions have continued to remain strong since the date of the Full Year 
Results announcement. Accordingly, Bisichi PLC expects to report results for 
the six months ended 30 June 2022 substantially ahead of those reported for the 
12 months ended 31 December 2021. 
 
While LAP consolidates the full results of Bisichi PLC within its financial 
statements, the Board of LAP has no direct influence over the management of 
Bisichi PLC. As LAP owns only 41.52% of Bisichi PLC, it is that proportion of 
Bisichi PLC's results which will be attributable to LAP shareholders. 
 
 
                                     Ends. 
 
 
For further information, please contact: 
 
John Heller/Jonathan Mintz 
 
London & Associated Properties PLC 
 
020 7415 5000 
 
 
 
END

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June 06, 2022 02:00 ET (06:00 GMT)

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