Agm

[Micalijo]

Yes I got one but trying to get my head round all of it confuses me again I'm new to reading the buisness side of it, in the Blades Realty section it says its run at a profit of 900k?? You have to remember though if that the property down turn is hard at the minute but as soon as a corner starts to turn and if we can manage our debt the companies stand to make a profit when things begin to boom hopefully sooner rather than laterof course.

Page 10. £900k is rental profit before interest payments on borrowings. The next sentence says they had to write off £2.5m from property valuations. It is this last bit that is the problem.

Agreed re upturn but I aint seeing any sign of any recovery.

 

[Micalijo]

It only opened in January 09 didn't it? or have i missed read.

The thing I'm on about Micalijo is that its managable and the stuff wednesdities are trying to spout is its not, and they are stating half truths on most of the stuff quoted.

I'm talking about the office block on John Street Beech (in my 7.06 post). Been opened years.

I'm not sure when the hotel opened exactly but think before Jan 2009? Agreed no right to expect a return in early days - fair comment.

 

[Flatulent_Bob]

Bob - another question for you please.

If the Copthorne deal is so good, why did Scarborough lend £2m to Sheffield United (Hotel) Limited in October 2008 - receiving interest of LIBOR plus 4%?

No idea, October 2008 would be before it opened so maybe it was more to do with the building costs. What was the rate of interest to the banks with the football debt? Higher or lower than 4%?

 

[beechblade]

Page 10. £900k is rental profit before interest payments on borrowings. The next sentence says they had to write off £2.5m from property valuations. It is this last bit that is the problem.

Agreed re upturn but I aint seeing any sign of any recovery.


I'm talking about the office block on John Street Beech. Been opened years.

I'm not sure when the hotel opened exactly but think before Jan 2009?

I know but alot of companies are taking the risk of holding onto properties in hope of the upturn. Like I said hopefully in the next couple of season things will change around, hoping on this too myself so in the next 3 years or so we can run a profit on the house. :thumbup:

Re page 10: again thanks I'm trying my dammed hardest to get my head round some of it all so I misunderstand things at times on it.

Ah yes I know the business centre has been open a fair while now. I'm sure in the KM statement at the begin it says it opened in Jan 09 so hopefully that will prove more fruitful over the next few years.