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Medsea Estates Group - Trading Statement
RNS Number:9384N Medsea Estates Group PLC 13 February 2008 MEDSEA ESTATES GROUP PLC RNS Announcement Trading Up-date Medsea Estates Group plc ('Medsea', 'the Group') (AIM: MEA), the Mediterranean-based property group is today providing shareholders with an update on trading. Based on unaudited management information, Medsea sold 1,051 properties in the year ended 31st December 2007 compared to 1,086 in 2006. These numbers do not reflect any provision for cancellations. Sales in the second half of the year were disappointing, with volumes materially below the Board's expectations (443 properties sold (2006: 662) as against the target of 580). The slow-down in sales has been seen across all areas of the Group's activities and mainly reflects a slowing of client visits in the last three months of the year which appears to be a reaction to the less certain financial environment in the UK and Eire. The average value of property sales for the year, on which the Group charges commission, reduced by 6% compared to 2006. Commission rates remained at levels comparable with the previous year. The Board expects to announce Medsea's results for the year ended 31st December 2007 in the second half of April 2008. For further information: Medsea Estates Group plc Tony Gatehouse, Chairman Tel: +34 96 570 40 02 Juan Carlos Rodriguez Martinez, Chief Executive HB Corporate Edward Hutton / Rachel Kane / Imran Ahmad Tel: +44 (0) 20 7510 8600 Media enquiries: Threadneedle Communications Alex White/Josh Royston Tel: +44 (0) 20 7936 9665 This information is provided by RNS The company news service from the London Stock Exchange END TSTGGGMZKFFGRZM
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