Notice of Results and Results Preview
November 27 2009 - 6:11AM
UK Regulatory
TIDMSRE TIDMPCX
RNS Number : 2007D
Sirius Real Estate Limited
27 November 2009
SIRIUS REAL ESTATE LIMITED ("Sirius" or the "Company")
Notice of results and results preview
Sirius Real Estate Limited, the real estate company established to acquire large
mixed-use commercial sites for upgrading to flexible workspaces in Germany, will
be reporting interim results for the period ended 30 September 2009 on Monday 7
December 2009.
A presentation to analysts will be held on the day at J.P. Morgan Cazenove (20
Moorgate, London EC2R 6DA) at 9.30am.
The Company is pleased to report that it expects the property valuations to be
stable over the 6 month period, and despite some anticipated tenant departures,
the total revenue for the six months to 30 September is expected to be in line
with market expectations. Recent letting activity has been encouraging and
Sirius continues to demonstrate its ability to attract tenants at above market
rates and significantly higher than the rates of vacating tenants.
The investment in initiatives to impro ve cost recoverability and to reduce
direct costs within the business has continued over the 6 month period. As a
result of the cost of this investment continuing, profits for both the 6 months
to 30 September 2009 and for the full year to 31 March 2010 are likely to be
below currently available market estimates. This investment is expected to
result in material operational efficiencies and cost savings in the
following financial years.
Enquiries:
Principle Capital Sirius Real Estate Asset Management Limited
Kevin Oppenheim,
CEO020 7632 4130
Alistair Marks, CFO
Cardew Group
Tim Robertson 020 7930 0777
Catherine Maitland
This information is provided by RNS
The company news service from the London Stock Exchange
END
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