Mountview Estates reports earnings increase

11th Feb 2013 13:45

Mountview Estates on Monday said earnings were up 25 per cent during the third quarter on the back of strong property trading activity.The real estate group said it was well placed to take advantage of purchasing opportunities as it also reduced debt during the period. "The third quarter of our financial year has shown the same solid progress as the first six months," the company said. Mountview began the trading update by addressing the death of Director Keith Langrish-Smith. He worked for the company for 38 years and was a director since 1982.A full tribute will appear in the Chairman's statement accompanying the annual report and accounts when posted in July.Shares rose 2.14% to 4,774.00p at 14:00 Monday. Mountview owns and acquires tenanted residential property in the UK and sells property when it becomes vacant. RD