CORRECT: Terrace Hill 1H Pretax Profit GBP0.7M On Revenue GBP9.2M

29th Jun 2010 08:36

("Terrace Hill 1H Pretax Loss GBP0.7M On Revenue GBP0.7M," at 0658 GMT, misstated some of the financial figures in the headline and throughout the story. The correct version follows:) LONDON (Dow Jones)--Terrace Hill Group PLC (THG.LN), a U.K. property investment and development group, said Tuesday that for the six months to April 30, it made a pretax loss of GBP0.7 million on revenue of GBP9.2 million. MAIN FACTS: -Revenue GBP9.2 million (2009: GBP5.9 million) -Operating loss GBP1.9 million (2009: loss GBP23.9 million) -Profit before tax of GBP0.7 million compared with a loss of GBP30.3 million for the year ended Oct. 31, 2009. -Earnings per share 0.1 pence (2009: loss 12.1 pence) -Adjusted Diluted Net Asset Value per share (EPRA) rose 2.9% to 45.9 pence (Oct. 31, 2009: 44.6 pence) -Triple Net Asset Value per share rose 2.4% to 41.8 pence (Oct. 31, 2009: 40.8 pence) -Net debt at April GBP89.1 million (Oct. 2009 GBP98.1 million) -Balance sheet gearing now well below 100% - 91.3% (Oct. 31, 2009: 103.4%) -Pleased with the progress made in the period. -Focus on low risk and highly profitable commercial developments -Board believes that a dividend shouldn't be paid for the period. -Will keep this policy under review and would wish to resume a progressive dividend policy when it is sensible to do so. -Shares closed Monday at 18.0 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] Order free Annual Report for Terrace Hill Group plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0006294382 or call +44 (0)208 391 6028 (END) Dow Jones Newswires June 29, 2010 03:36 ET (07:36 GMT)