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Halladale Swims Against The Tide

Recently-listed Halladale has unveiled increases in net asset value and pre-tax profits. And in spite of economic uncertainty it is stepping up its development programme.

By Graham Parker | Updated on July 06, 2001

LONDON-Halladale, the Scottish-based property company that swam against the tide of companies leaving the stock market to gain a listing on the Alternative Investment market earlier this year, has unveiled a strong set of results. Net asset value grew by 8P and pre-tax profits increased from £605,00 ($853,000) to £929,000 ($1.31 million).

Chief Executive David Lockhart said: ‘Our admission to AIM has raised the profile of the company and the number and quality of opportunities presented to us.’ But he conceded that weaker growth in the economy and nervousness about the slowdown in the USA has led to a softening in occupational demand, particularly from US companies in the south east.

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