MTE- Marshall Monteagle Holdings - Interim Management Statement for the
MTE
MTE
MTE- Marshall Monteagle Holdings - Interim Management Statement for the
quarter ended 31 December 2009
Marshall Monteagle Holdings Societe Anonyme
(Formerly Monteagle Holdings Societe Anonyme)
("Monteagle")
(Incorporated in Luxembourg - RC Luxembourg No. B 19600)
Share Code: MTE ISIN Code: LU0035797272
Registered Office
6 rue Adolphe Fischer,
L-1520, Luxembourg
Interim Management Statement for the quarter ended 31st December 2009
We are pleased to announce that turnover for the three months ended 31st
December 2009 has increased to US$48,104,000 from US$28,477,000 last year, an
increase of 69%. A significant proportion of this increase is due to the
weakening of the US dollar relative to the Rand and on a constant currency
basis the increase in turnover is 36%. This increase reflects a very busy end
to the calendar year and while we expect overall turnover for the rest of the
year to continue to be better than last year, we do not expect to maintain
this level of improvement.
Rental income from our general portfolio of investment properties remains
stable with good occupancy rates, however vacancies are still 16% in our
property in California.
Our blue chip investment portfolios have benefited from the appreciation in
global stock markets and we have further funds available for opportune buying.
We remain liquid and well positioned to weather the unexpected challenges that
will undoubtedly occur during the rest of the year.
12th February 2010
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 12/02/2010 15:30:03 Produced by the JSE SENS Department.
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