Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Residential property developer Trafalgar Property booked a deeper annual loss after it wrote down the value of its assets.
Pre-tax losses for the year through March amounted to £2.3m, compared to losses of £0.4m on-year, and included a £1.6m impairment charge.
Revenue rose to £2.1m, up from £0.9m after the company sold five residential properties over the period.
'Our recent move into the assisted living sector gives us an opportunity to expand into fresh areas of residential units where we see an enormous demand, especially in the South-East,' chairman James Dubois said.
'However, our failure in obtaining finance for our first venture, at Camberley, has proved a poor start to our ambitions in this direction.'
'We are currently progressing offers of finance alongside our planning applications so that we should be well placed to commence our developments as soon as planning permits.'
At 9:55am: (LON:TRAF) Trafalgar New Homes Plc share price was 0p at 0.18p