Sutton Harbour has taken a long time to get going but seems to be rising well now. A bonus issue and a rejected takeover did the trick. Anyone holding these?

It's worth reading this I think. Plymouth Airport was a big loss making part of the business which the company finally got shot of in December 2011. This could be a great recovery play. Final results statement 27th June 2012;



RNS Number : 2013G
Sutton Harbour Holdings PLC
27 June 2012



For immediate release 27 June 2012





Sutton Harbour Holdings plc

Final Results for the year ended 31 March 2012



Sutton Harbour Holdings plc ("Sutton Harbour", "the Company"), the AIM listed regeneration and infrastructure specialist, announces final results for the year ended 31 March 2012.



HIGHLIGHTS



Financial

· Revenues increased to £9.9m (2011: £9.64m)

· Operating profits from regular income earning activities improved to £2.4m (2011: £1.91m)

· Underlying adjusted profit before tax on continuing operations was £1.68m (2011: £2.61m)*

· Reported profit before tax from continuing operations was £0.46m (2011: £2.51m)

· Equity placing and open offer raised £5.7m

· Year-end net debt of £15.8m (2011: £21.0m); gearing: 38.2% (2011: 58.2%)

· Net assets of £41.5m (2011: £36.08m) or 43.1p (2011: 57.3p) per share

*Adjusted to exclude fair value adjustments and impairment charges



Management

· Jason Schofield appointed CEO

· Robert De Barr joins as Non Executive, post year end; he was 32 years with Land Securities



Operations

· Completed exit from underperforming operations

· Marine activities achieved 18% revenue growth

o Strong visitor numbers at marinas

o Record performance from fisheries

· Construction expected to commence this summer on new Millbay marina - adding 171 berths

· Vacancy within property estate reduced to 10.87% (2011: 14.28%)

· Contracted rent increased to £1.39m (2011: £1.38m)

· Realisations included

o Fourth tranche of surplus airport land - £2.3m

o Sale of Exeter investment property - £0.4m

o Disposal of investment in consortium to procure healthcare facilities - £0.5m post year-end

· Two major sites for redevelopment

o East Quays site

o 113 acres of former airport land

Michael Knight, Chairman, commented: "With the closure of the airport we have brought an end to unsustainable losses and enabled management to focus on our core activities, the performance of which has been most encouraging. We are now moving forward with a good degree of optimism, excited about our future plans to build on our core competences and confident in our strategy for growth."

For further information, please contact:

Sutton Harbour Holdings plc 01752 204186

Jason Schofield - Chief Executive

Natasha Gadsdon - Finance Director



Arden Partners plc 0207 614 5917

Richard Day

Jamie Cameron

Threadneedle Communications 020 7653 9850

Graham Herring

Terry Garrett








SUTTON HARBOUR HOLDINGS PLC ("the Group")



Preliminary results for the year ended 31 March 2012







Chairman's Statement

For the year ended 31 March 2012





This has been an active year as we have progressed further the substantial changes to the composition of the Group, with the closure of Plymouth City Airport after last year's disposal of the airline business. The decision to exit the transport division was painful, but necessary to ensure the remaining assets and operations were more strongly constituted and supported. The closure of the airport brings an end to unsustainable losses and allows the Group to work with Plymouth City Council to help build shareholder value through alternative uses of the site for the benefit of the city as a whole. I am pleased to be able to say that results achieved this year from our continuing operations support the decisions we have taken.



An equity placing and open offer to all shareholders in December 2011 raised a net £5.7m for the Group, which was used to help reduce our level of borrowings and also provide funding towards our new 171 berth marina in the Millbay area of Plymouth. We anticipate construction to start in Summer 2012, with the aim of new berths being available for the 2013/2014 season. In addition, we are now working on a new phase in our overall plan to develop further the attractions and reputation of Sutton Harbour as a key destination centre within the South West.



Financial Results and Dividend



The Group recorded a consolidated profit before tax from continuing operations of £0.455m (2011: £2.509m). Underlying profit before tax on continuing operations, adjusted to exclude fair value adjustments of £0.101m surplus (2011: £0.103m surplus) and impairment charges to inventory of £1.330m (2011: £0.200m), was £1.684m (2011: £2.606m). Operating profits before fair value adjustments from regular income earning activities of the Group, namely marine activities, property rentals and car parks, showed encouraging improvement from £1.910m (2011) to £2.391m in this reporting year (see segment results analysis). The regeneration activities contributed a net profit before impairment of £1.578m (2011: £2.700m). The Group's loss for the year, after taxation, including discontinued activities, was £0.967m (2011: £6.452m), giving a loss per share of 1.38p (2011: loss per share 10.25p).



As previously reported, the Group ceased operations at Plymouth City Airport in December 2011 and results from this activity are recorded under discontinued operations. The loss after tax derived from discontinued operations, being the airport business's operating loss and subsequent costs in connection with closure, is £1.632m. This cost includes a charge of £508,000 (2011: £nil) for impairment of certain related property, plant and equipment assets and inventory. The loss from discontinued activities for the comparative period, 2011, of £9.158m represents the loss incurred in relation to Air Southwest until the disposal of that business in November 2010 of £8.407m and the trading loss of Plymouth City Airport of £0.751m.



Net assets at 31 March 2012 were £41.503m (2011: £36.081m) and reflect a net £5.7m raised by issue of new share capital in January 2012. Net assets per share on the enlarged capital base are 43.1p (2011: 57.3p).



We have taken account of slower delivery timescales and the paucity of end users, and have accordingly impaired development property inventory carrying values to realign expectations. At the interim reporting stage we made an impairment against development project inventory of £0.97m and we increased these provisions by a further £0.36m at the year end.



Net bank debt at the year end stood at £15.8m (2011: £21.0m), with new equity funds reserved to fund the new Kingpoint Marina facility at Millbay offsetting the core debt. At the year end the Group has a £23.35m facility and has negotiated a revised facility of £22m until September 2013, prior to expiry of the core £20m facility in December 2013. The Group has a number of opportunities to improve cash flow for investment into new projects and to reduce debt in the coming year.



Gearing (expressed as net bank debt as a percentage of net assets) was 38.2% as at 31 March 2012 (2011: 58.2%). All covenant tests were met during the year.



The Board does not recommend payment of a final dividend on the year's results (2011: £nil). The Board would wish to see a reduction in overall debt levels and consequent debt servicing costs, to provide greater headroom for new projects, prior to the resumption of dividend payments but is mindful of the importance of regular income to many shareholders.









Corporate Governance and Staff



Following a selection process which included a number of external candidates, the Board was pleased to appoint Jason Schofield, who has been an Executive Director for four years, as Chief Executive. In addition, we announced the appointment of Robert De Barr as Non-Executive Director on 16 May 2012. With 32 years experience at Land Securities, Bob is able to provide valuable additional real estate experience.



Anthony Everett, having completed two terms as a Non-Executive Director, will be retiring from the Board at the forthcoming AGM. Tony has made a tremendous contribution and shown tireless commitment to the Group. I thank him sincerely for his efforts.



During the year, the Company has made two changes to its panel of advisers. Arden Partners plc was appointed Nominated Adviser and also continues as Corporate Broker and Financial Adviser to the Company. The Group audit was put out to competitive tender and BDO LLP was successful in this selection process. The Board wishes to thank its previous advisors for their support and advice during their respective periods of engagement.



Following a turbulent couple of years, staffing of the Group is considerably reduced with headcount standing at 39 employees through marine, real estate and central functions. I appreciate the continuing loyalty of our staff and thank them for their concerted efforts to drive forward for future success.



Outlook



The Company is now moving forward with a good degree of optimism about our future plans. We are confident that our strategy for progress, building on our core competences in marine operations, regeneration of niche waterfront locations and improvements to our income earning estate will provide the platform for future growth in shareholder value.





Michael Knight

Chairman

27 June 2012









Chief Executive's Report

For the year ended 31 March 2012





Having completed the exit from underperforming operations our focus has been on repositioning the business by concentrating our attention on the core activities of marina, fisheries and car park operations, property investment and waterfront regeneration. Our vision and strategy is focused on building value and achieving sustainable growth for the Company and its stakeholders.



Vision for the Harbour



Over the last twenty years, Sutton Harbour has undergone a transition into an attractive waterside area with a depth of water to support larger vessels and various marine uses. This was facilitated by the installation of the lock gates, and the creation of a mix of harbour-side activities through the delivery of six major regeneration schemes. We are now looking at a third phase in this development to create a walkway to give public access all around the harbour perimeter. The aim is to enable existing points of interest to be joined together, whilst at the same time bringing forward new attractions to add to the quality of the overall Sutton Harbour experience. Sutton Harbour is ideally positioned as a 'Day Out Destination' with the National Marine Aquarium and Barbican Leisure Village to the east; the historic Barbican to the south; and the city centre immediately to the north.



Operations



The marinas enjoyed strong visitor numbers during summer 2011 and we were also proud to host the finish to the Fastnet Race for the second time. To keep pace with market demand we will reconfigure some of the existing berthing to accommodate larger leisure vessels later this year. We are also delighted to have been awarded the Yacht Harbour Association '5 Gold Anchor' accreditation for the high quality of service and facilities and this, together with more targeted marketing, is allowing us to develop the marinas within Sutton Harbour as a yacht club regatta destination.



To assist customer retention and to create a welcoming club-feel to our marina, in partnership with "RYA Active", we have held practical yacht handling workshops, and we have also been running very popular breakfast events on Sunday mornings. We have re-launched our website and are making use of social media to keep in regular touch with berth-holders about events and news.



We expect to start construction of the new Millbay marina facility this summer. Kingpoint marina will add a further 171 berths to our existing marina operations. Sales of these new berths will be actively promoted at forthcoming boat shows in Southampton and London, as we shall also be targeting customers from outside our immediate catchment area, highlighting the ease of access to some of the best sailing waters the United Kingdom has to offer.



Performance at Sutton Harbour Fisheries has again broken records with doubling of auctioned fish since 2009, £17.0m gross value for 5,400 tonnes for this reporting year (2011: £14.3m gross value for 4,200 tonnes). The growth in fish landings revenue is welcome as fuel margins remain tight and utility costs continue to increase. This good performance now places Plymouth as the number two fishmarket in England and we have a number of improvements planned to ensure we maintain operational capabilities.



We have self-managed our two harbour car parks, with a total of 426 spaces, for the last three years. We have recently reached agreement to outsource the day-to-day management of the car parks to a specialist operator who will assist with making use of latest mobile phone technology and other operational efficiencies.



Estate



As at 31 March 2012 our vacancy rate stands at 10.87% (2011: 14.28%). The contracted rent has increased from £1.379m (2011) to £1.390m (+0.8%) and demonstrates new lettings and rent reviews agreed during the year. We currently have space in the fishmarket merchant units and two ground floor office/restaurant premises, which are both receiving good levels of interest. Regus has sub-leased premises at Salt Quay House from the Group since May 2011 and established its internationally renowned serviced office brand at Sutton Harbour.



The value of our estate has remained robust and the tenant portfolio includes a diverse mix of public sector, professional service and national and local food and beverage operators.









Estate Portfolio
As at 31 March 2012
As at 31 March 2011

Total estate portfolio valuation
£50.015m
£49.007m

Owner occupied portfolio valuation
£29.262m
£28.179m

Investment portfolio valuation
£20.753m
£20.828m

Number of investment properties
69
69

Contracted rent (per annum)
£1.390m
£1.379m

Net initial yield
8.07%
8.15%

Reversionary yield
8.82%
8.94%

Vacancy rate
10.87%
14.28%

Estimated rental value (ERV) of vacant units
£0.178m
£0.262m

Average unexpired lease
9.9 years
9.2 years

Gross car parks revenue
£0.295m
£0.284m






Regeneration



We have been working on a number of projects over recent years, some on our own land and others working in partnership with public bodies. We are continuing to manage these various opportunities, although the visibility of delivery of new developments is not clear and will be subject to affordable funding and securing pre-let or pre-sale agreements.



Property Inventory
As at 31 March 2012
As at 31 March 2011

Sites around Sutton Harbour
£7.209m
£6.515m

Portland
£1.068m
£1.816m

Exeter Quays
£nil
£0.639m

Airport development inventory
£4.005m
£4.457m

Other miscellaneous projects
£0.231m
£0.203m


£12.513m
£13.630m




The Group achieved a number of notable realisations during the year including the sale of the fourth tranche of surplus airport land for £2.3m and the sale of an investment property in Exeter for £0.4m. We have also recently reported the disposal of the investment in the consortium working with NHS Cumbria to procure healthcare facilities for £0.5m after the year end.



Within the Group's inventory we have ownership interest in two major sites for development. The East Quays site, which is in a prime position overlooking Sutton Harbour, has been partly reserved for a building to house new premises for the BBC. This represents a major development opportunity for a high profile scheme and we have consents for mixed residential, office and active ground floor uses. As previously announced, the Company had terms agreed with Sir Robert McAlpine Enterprises Limited to ensure development on the site could proceed. However, progress has been held back, because the BBC has not committed to the proposal to deliver the accommodation.



The second major site is the 113 acres of former airport land in the Derriford area of Plymouth. The Group is currently making representations to ensure that the land is included within the Derriford and Seaton Area Action Plan by way of a pre-cursor to any future planning applications. The Group will continue to work on its strategy and associated legal obligation to obtain best value from the site.



Ownership of the Portland site has now passed from South West Regional Development Agency to the Homes and Communities Agency. We have made a significant investment into the ambitious masterplan for this site which initially attracted strong interest from well-known retail and hotel operators. Our objective is to recover the cost of investment into this project.



To focus our resource on delivery of our major projects we have now withdrawn from the Swansea and Exeter Quays schemes and we shall reassess the marina opportunity at East Cowes due to changes to the funding requirements of the new significant breakwater infrastructure items that are required.









Summary



The Company has undergone a transformation in the last eighteen months and continues to evolve. It has re-positioned itself with a clear focus on marine-related, waterfront regeneration and destination-led activities. We have clear objectives to deliver growth from annual income earning activities and to extract best value from regeneration schemes in hand. We are very positive about our new projects and opportunities which together with our core of stable annual income earning assets and operations will provide a platform from which to deliver a step-change in our prospects in order to grow the Company and build shareholder value.





Jason Schofield

Chief Executive

27 June 2012

Hopefully this could be a great recovery story and things seem to have turned around since getting rid of the loss making part of the business at the end of 2011, which was Plymouth City Airport. Chart indicators looking positive - nice bowl forming.

Sutton Harbour defends plans to build on Plymouth City Airport




Plymouth Herald
Follow.


THE former operator of Plymouth airport has defended its plans to build houses, shops and offices on the site in the north of the city.

Lawyers for Sutton Harbour Holdings yesterday launched their case at a planning inquiry in the city centre.

Sutton Harbour has joined Plymouth City Council in opposing an appeal by developers who want to build a new shopping centre next to Derriford Hospital.

Wharfside Regeneration (Devon) has appealed against refusal of planning permission for the 16.5-acre North West Quadrant site at Derriford.

Sutton Harbour Holdings has published its own masterplan for a massive housing and shopping development at the 113-acre City Airport at Roborough.

The masterplan, drawn up by Plymouth architects AWW, calls for a range of commercial, retail and residential units, including an hotel and food retail store, plus the first part of a proposed park and streets leading to a new town square and high street.

The second phase would include a new primary school, library and community centre, more retail and residential blocks forming the town square and a new pedestrian link to University College Marjon.

Thomas Hill, QC, for Sutton Harbour Holdings, told planning inquiry inspector David Nicholson that if the Wharfside appeal was upheld it would cut off any possibilities of building a district centre at the former airport site.

Witnesses told the inquiry that Wharfside's proposal was inferior to Sutton Harbour's own masterplan for the airport, which was revealed exclusively in The Herald earlier this month.

Planning consultant John Webster said the Wharfside proposals failed to satisfy the needs of the council's area action plan for Derriford and Seaton, which include a large new supermarket.

He was backed up by planning expert Will Edmonds of Montagu Evans

Mr Webster said Wharfside's proposal was for a much smaller store which he did not believe would be viable.

Unlike the Sutton Harbour proposals, Wharfside's plans would not provide adequate pedestrian links across the A386 Tavistock Road.

100% "buy"


http://www.barchart.com/opinions/stocks/SUH.LS

RNS just out - Crystal Amber Fund stake in SUH goes over 27%. For anyone not familiar with Crystal Amber this is a brief idea of the company objectives;

"Investment Policy
The Company will be an activist fund which aims to invest in a concentrated portfolio of undervalued companies which are expected to be predominantly, but not exclusively, listed or quoted on UK markets (usually the Official List or AIM) and which have a typical market capitalisation of between £ 100 million and £1,000 million. Following investment the Company and the Advisers intend to engage with the management of those companies with a view to enhancing value for all their shareholders."

Doesn't take much action to move the price. Two sells, two small buys and the price gets a little tick-up. Could be a case of fasten the seatbelts when the buying really gets started imo.

FIVE new jobs could be created if proposals are accepted for an environmentally-friendly café in Sutton Harbour.

The REAL food kitchen is the brain child of Phil Hague and Katie Easter and aims to bring an "exciting and alternative al fresco eating experience" to Quay Point.

A planning application has been submitted to Plymouth City Council by Sutton Harbour Holdings Plc, which owns the land where it would be sited.

"We're incredibly passionate about producing 'real' food, whilst protecting the environment and enriching the local economy," said Phil Hague, a classically trained chef who has been a lecturer for the faculty of business and leisure industries at City College Plymouth for 17 years.

"Plymouth has a thriving restaurant and café scene and we are hopeful that our individuality can only go to strengthen this," he added.

Planners said the business would create five new jobs and would complement other food outlets around the waterfront while pioneering a number of green initiatives.

These included a local allotment scheme to source food from 'earth to kitchen' within an hour of harvesting, and donating all produce that cannot be used the next day to a local charity or homeless shelter.

The café building has been designed to be moved, if required, and the planning application includes proposals for an enclosed storage area for commercial bins near the Southside Street public toilets.

The café would be based in a contemporary open-sided building with views through to Sutton Harbour under a weathered copper coloured roof, echoing the nearby Glassblowing House restaurant.

Sutton Harbour Holdings chief executive Jason Schofield said: "Phil and Katie have a real passion for locally-sourced natural food and we think The Real food kitchen would be a great asset to Sutton Harbour and the Barbican.

"Our ambition is to promote Sutton Harbour as a nationally significant destination. That includes attracting new businesses that appeal to visitors and help diversify the waterfront economy, creating jobs as part of Plymouth's growth agenda."

A new experience card has been launched by Sutton Harbour Holdings plc offering exclusive discounts for marina visitors.

The initiative was devised by the company to help boost Plymouth’s waterfront economy by encouraging users of Sutton Harbour Marina to make the most of the nearby shops, restaurants boat maintenance facilities and visitor attractions.

A wide variety of local businesses have already signed up to the scheme including the National Marine Aquarium, restaurants Asia Chic, Souk, Rocco y Lola and Zucca; Gael Force Marine chandlers and Ship Shape boat cleaning, The card is available to resident berth holders and visiting boatowners who are berthed in Sutton Harbour Marina, Guys Quay Marina or West Pier Marina.

Charlotte Malcolm, Commercial Marketing Manager at Sutton Harbour Holdings plc and board member of the Plymouth Waterfront Partnership, said: “Plymouth’s waterfront is such an exciting, lively area of the city, and we want users of Sutton Harbour Marina to see just how much it has to offer. The experience card will benefit both the users, who will have access to exclusive discounts and special offers at a wide range of establishments across the Waterfront, and also the local businesses which will hopefully see an increase in customers coming from the marina.”

David Gibson, managing director of the National Marine Aquarium said: “The National Marine Aquarium is delighted to work with Sutton Harbour to promote Plymouth’s Waterfront as a destination, not only for leisure and tourism but also for business. The area has a huge amount to offer in both sectors and I have no doubt that anyone experiencing the diversity of what is on offer will be convinced that it is the ideal place to do business or to simply spend some leisure time.”

Stuart Cameron from chandlers Gael Force Marine added: “Gael Force are delighted to support Sutton Harbour Marina’s Experience card concept. We are already known for bringing value to Mariners and are happy to give the marina customers that little bit extra value and service than they were expecting. Although new to the Plymouth area we have long recognised that it is a gem in the South West and are keen to help spread the word”.


Sutton Harbour Marina is owned by waterfront regeneration company Sutton Harbour Holdings plc. It has been awarded five Gold Anchors by the Yacht Harbour Association for the high standards of its services and facilities.


Published: 27th September 2012

The sooner this ongoing saga about the airport gets done and dusted for once and for all, the better. It's a very small minority of the population of Plymouth who want the airport to be re-opened and which business would want to take it on again when it was a disaster before? This campaign is going nowhere imo.

http://www.thisisplymouth.co.uk/Deadline-today-letters-support-Plymouth-City/story-17123161-detail/story.html

http://www.thisisplymouth.co.uk/New-consultation-future-Plymouth-city-s-airport/story-17191867-detail/story.html

Tipped today in the IC.

SHARE TIPS AND UPDATES
Sutton Harbour Holdings PLC (uk:SUH)
VALUE
LOW RISK
Bull points
Shares trade far below net asset value
Fish market performing well
New marina planned
Impressive real estate portfolio
Bear points
No dividend
More losses on the airport venture
Sutton Harbour is an archetypal value play - its shares trade far below book value; and additional value is hidden away
Sutton Harbour in Plymouth has a long and chequered history and was once owned by the London & South Western Railway. The railway is long gone (although some of the tracks are still there) and since 1989 the harbour - now with a lock gate - has been owned by Sutton Harbour Holdings (SUH), and the dock has been transformed into a 573-berth boating marina.
But it hasn't been plain sailing. In 2000 Sutton Harbour bought the lease on Plymouth City Airport and set up its own regional airline. This flopped and was shut in 2011; meanwhile, Sutton was left nursing a large loss.
However, that's water under the bridge and, with a new chief executive at the helm, the company is concentrating on its core business, which includes redeveloping the dockside area, expanding the marina and operating a fish market. The real value has yet to be realised, which is why the share price languishes so far below book value of 43p per share. But there is plenty of development potential and earlier this year a deal was secured to develop a new marina at nearby Millbay. This will cost around £4m, but the funds have been secured though a share placing that raised £5.7m earlier this year, and work is expected to start on the 171-berth facility in time for use next summer.
The existing marina in Sutton Harbour is performing well, with occupancy rates of around 90 per cent. This is about right because it is useful to have some availability for passing trade and special events. Moreover, mooring fees are around half the level charged at Southampton.
SUTTON HARBOUR (SUH)
ORD PRICE: 30p MARKET VALUE: £29m
TOUCH: 27-30p 12-MONTH HIGH: 30p LOW: 18p
DIVIDEND YIELD: nil PE RATIO: 50
NET ASSET VALUE: 43p NET DEBT: 38%
Year to 31 Mar Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2009 29.3 -3.45 -4.86 2.26
2010 39.3 2.52 3.64 1.81
2011 9.64 2.51 4.30 nil
2012 9.90 0.46 0.96 nil
2013* 8.70 0.70 0.60 nil
% change -12 – – –
Normal market size: 1,000
Market makers: 4
Beta: 0.1
*Arden Partners estimates, profits and earnings per share are not directly comparable
When the port was developed into a marina by installing a lock, the fish market was relocated and has developed into the number two fish market in England. Last year it handled 5,400 tonnes of fish, double the amount landed in 2009. Sutton Harbour generates revenue from the facilities that it provides, which includes its own auction house, and it takes a percentage of the value of fish landed.
The group also has a property portfolio of buildings around the harbour, where void rates are less than 10 per cent, and two car parks with 426 spaces. Indeed, the total estate portfolio is valued at about £50m. That feeds through to net assets for shareholders of £42m, which compares with a £29m market value of the equity.

Even the airline venture has a silver lining. True, after 2010-11's £9m loss, it lost another £1.6m in the latest year. But Sutton Harbour still owns a 142-year lease on the 113 acres of land. Assuming this is redeveloped into the usual mix of housing, commercial buildings and shops, the company benefits from 25 per cent of the development profits, which could be as much as £10m.
SHARE TIP SUMMARY:
Sutton Harbour has reduced its debt load from £21m to £16m, but its bosses want to cut that burden further before resuming dividend payments. Still, the real value is in the company's property portfolio. Redeveloping the Millbay marina, which has a valuation potential of £6m, and realising profit from the old airport could add £16m to shareholders' funds, making that big discount to net assets even bigger. Buy.

Up 17.86%, something in the air? An IC tip doesn't usually have this effect on a share price.

Ticking up quietly again today.

Interims out next Wednesday, could be reasonably positive since the company has got rid of the City Airport which a large loss making part of the business.

SP getting hammered. The 4th paragraph of the Chairman's statement is particularly downbeat. It's going to take a long time to turn this company around now imo.

Suddenly gone up 1.5p on a red day for the markets - something in the air here?

great spread nearly 10%!

The actual buying price right now is 26.07p and the selling price is 24.65p, but I still wouldn't be tempted into buying.

Watch: Jason Schofield, CEO, Sutton Harbour SUH - Preliminary results

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Listen: Sutton Harbour Holdings (SUH) - Property letting update

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