Mountview Estates PLC

16 June 2022

MOUNTVIEW ESTATES P.L.C.

Preliminary Results for the year ended 31 March 2022

CHIEF EXECUTIVE OFFICER'S STATEMENT

After two years of Covid constrained activity it is to be hoped that our lives may now resume more normal levels of activity.  Most of those operating in the property industry found ways of circumventing the various difficulties presented by the last two years and may even have found methodology that serves them better.

Our turnover for last year shows a modest increase but increases in the cost of the properties sold and the cost of maintenance where we had previously been unable to enter properties because of Covid have been the main contributors to a thirteen per cent fall in Earnings per Share.  Nevertheless none of this does anything to undermine the financial stability of the Company and your Board remain confident enough to recommend an increased final dividend of 250 pence per share.

If shareholders approve the final dividend at the Annual General Meeting on 10 August 2022 it will be payable on 15 August 2022 to shareholders on the register at 8 July 2022.

Mountview may be considered to have been merely in the right place at the right time these last two years but we are a small workforce who have worked hard, adapting as necessary, to stay in that right place.  I thank my staff and colleagues for their hard work and loyalty and believe that the future prosperity of the Company should reward them and allow them to be protected from the ravages that the economy may inflict upon us.

Duncan Sinclair

16 June 2022

MOUNTVIEW ESTATES P.L.C.

FINANCIAL HIGHLIGHTS

Mountview Estates P.L.C. advises its shareholders that, following the issue of the final results, the relevant dates in respect of the proposed final dividend payment of 250 pence per share are as follows:

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2022

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

FOR THE YEAR ENDED 31 MARCH 2022

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2022

GROUP CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2022

2022 Annual General Meeting (AGM) 

The 2022 AGM of the Company will be held on Wednesday 10 August 2022 and details will be set out in the Notice of AGM.

 Notes to the Preliminary Announcement

1.   Financial Information

The financial information presented within this document does not comprise the statutory accounts for the financial years ended 31 March 2022 and 31 March 2021, but represents extracts from them.

The statutory accounts for the financial year ended 31 March 2021 have been filed with the Registrar of Companies.  The auditor reported on those accounts: their report was (i) unqualified, (ii) did not include references to any matters to which the auditor drew attention by way of emphasis without qualifying the reports and (iii) did not contain statements under section 498(2) or (3) of the Companies Act 2006.

The statutory accounts for the year ended 31 March 2022 are expected to be finalised and signed following approval by the Board of Directors and delivered to the Registrar of Companies following the Company's Annual General Meeting on 10 August 2022 ("2022 AGM").

2.   Basis of Preparation

The preliminary announcement has been prepared in accordance with UK-adopted international accounting standards, but does not contain sufficient information to comply fully with UK-adopted international accounting standards.  The Financial Statements to be presented to Members at the 2022 AGM are expected to comply fully with UK-adopted international accounting standards.

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This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

For further information on the Company, visit: www.mountviewplc.co.uk 

SPARK Advisory Partners Limited (Financial Adviser) www.sparkadvisorypartners.com