MTE- Marshall Monteagle Holdings - Interim Management Statement for the quarter
MTE
MTE
MTE- Marshall Monteagle Holdings - Interim Management Statement for the quarter
ended 30 June 2010
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
58 rue Charles Martel, L-2134
Luxembourg
Interim Management Statement for the quarter ended 30th June 2010
We are pleased to announce that turnover for the nine months ended 30th June
2010 has increased to US$124 million from US$86 million last year, an increase
of 44%. On a constant currency basis the increase in turnover is 22% and
reflects a very active trading period by our operations.
Rental income from our portfolio of investment properties in South Africa
remains stable with good occupancy rates, however vacancies are still relatively
high at our property in California and the leasing market there remains
challenging.
Our blue chip investment portfolios were obviously affected by the 10% plus
correction in first world equity markets during the quarter, and we believe the
economic uncertainty that prevails will continue to create volatility in the
near term. We continue to hold a diverse portfolio of quality companies in first
world markets and have cash reserves to capitalise on any future buying
opportunities.
Despite the volatile equity and currency markets we are confident that we can
continue to enhance shareholder value in the foreseeable future.
16 August 2010
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 16/08/2010 12:30:01 Produced by the JSE SENS Department.
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