Final Results
Mountview Estates PLC reported preliminary results for the year ended 31 March 2026, showing a slight decrease in turnover to £71.8 million, down 0.4%, while cost of sales increased by over 11%, leading to a gross profit decline of 8.5% to £38.6 million. Profit before taxation fell by 13.4% to £27.1 million, resulting in earnings per share of 522.1 pence, a decrease of 13.3%. Despite these challenges, the company maintained its final dividend at 275 pence per share, with a total dividend of 525 pence per share, representing a 6% return on the current share price. Equity holders' funds remained stable at £402.5 million.
| Full year to 31 Mar 2026 | Now | Year before | Change |
|---|---|---|---|
| Revenue | £71.8m | £72.1m | −0.4% |
| Operating profit | £31.1m | £36.3m | −14.2% |
| Profit before tax | £27.1m | £31.3m | −13.3% |
| Net income | £20.4m | £23.5m | −13.3% |
| Cash from operations | £43.6m | £1.9m | +2201.5% |
| Cash | £0.9m | £0.5m | +75.6% |
Figures as reported, converted to £ where needed – see all financials.
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Preliminary Results for the year ended 31 March 2026
CHIEF EXECUTIVE OFFICER'S STATEMENT
Every Chief Executive Officer likes to start his statement with news of increased turnover and increased profits but operating in the housing market under this government is not easy. Turnover is down by less than one half of one percent but Cost of Sales is up by more than eleven percent thus Gross Profit is down by more than eight and a half percent.
This government's professed intention is to promote growth but its every move has stifled growth and so it is left to us to try and reduce this negative effect. We have managed to contain our administrative expenses to the extent that there is a modest saving in this expense. Our net finance costs have been reduced by over twenty percent which is in part a reduction in our purchases but to pay too much for our purchases would be a reckless strategy.
Overall our earnings per share are down by less than thirteen and a half percent which enables us to maintain our final dividend at 275 pence per share. If this proposed dividend of 275 pence per share is approved at the Annual General Meeting to be held on 12 August 2026 it will be payable on 17 August 2026 to shareholders on the register at 10 July 2026.
This proposed dividend gives a total return of 525 pence per share which gives a return of as much as six percent on the present share price. We are in a good position to make the right purchases at the right price but we will not make purchases that will struggle to make a proper return. We have a loyal staff and a long-standing shareholder base who should not be sacrificed at the altar of the government's incompetence. I believe that we have a financially sound company that can prosper in a sound economy.
Duncan Sinclair
MOUNTVIEW ESTATES P.L.C.
FINANCIAL HIGHLIGHTS
| 2026 | 2025 | (Decrease) | |
|---|---|---|---|
| £ | £ | % | |
| Revenue (millions) | 71.8 | 72.1 | (0.4) |
| Gross Profit (millions) | 38.6 | 42.2 | (8.5) |
| Profit Before Tax (millions) | 27.1 | 31.3 | (13.4) |
| Equity Holders' Funds (millions) | 402.5 | 402.7 | 0.0 |
| Earnings per share (pence) | 522.1 | 602.5 | (13.3) |
| Net assets per share (£) | 103.2 | 103.3 | (0.1) |
| Dividend per share (pence) | 525 | 525 | 0.0 |
Mountview Estates P.L.C. advises its shareholders that, following the issue of the preliminary results, the relevant dates in respect of the proposed final dividend payment of 275 pence per share are as follows:
| Ex-dividend date | 9 July 2026 | |||||
|---|---|---|---|---|---|---|
| Record date | 10 July 2026 | |||||
| Payment date | 17 August 2026 | |||||
| CONSOLIDATED INCOME STATEMENT | ||||||
| FOR THE YEAR ENDED 31 MARCH 2026 | ||||||
| Year | Year | |||||
| ended | ended | |||||
| 31.03.26 | 31.03.25 | |||||
| £'000 | £'000 | |||||
| REVENUE | 71,831 | 72,132 | ||||
| Cost of sales | (33,273) | (29,954) | ||||
| GROSS PROFIT | 38,558 | 42,178 | ||||
| Administrative expenses | (6,751) | (6,765) | ||||
| Gain on disposal of investment properties | - | 885 | ||||
| Operating profit before changes in fair value of investment properties | 31,807 | 36,298 | ||||
| Decrease in fair value of investment properties | (693) | (23) | ||||
| PROFIT FROM OPERATIONS | 31,114 | 36,275 | ||||
| Net finance costs | (3,965) | (4,971) | ||||
| PROFIT BEFORE TAXATION | 27,149 | 31,304 | ||||
| Taxation - current | (6,964) | (8,701) | ||||
| Taxation - deferred | 173 | 890 | ||||
| Taxation total | (6,791) | (7,811) | ||||
| PROFIT ATTRIBUTABLE TO EQUITY SHAREHOLDERS | 20,358 | 23,493 | ||||
| Basic and diluted earnings per share (pence) | 522.1p | 602.5p | ||||
| CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||||
| FOR THE YEAR ENDED 31 MARCH 2026 | ||||||
| As at | As at | |||||
| 31.03.2026 | 31.03.2025 | |||||
| £'000 | £'000 | |||||
| ASSETS | ||||||
| NON-CURRENT ASSETS | ||||||
| Property, plant and equipment | 1,334 | 1,387 | ||||
| Investment properties | 20,977 | 21,670 | ||||
| TOTAL NON-CURRENT ASSETS | 22,311 | 23,057 | ||||
| CURRENT ASSETS | ||||||
| Inventories of trading properties | 442,970 | 466,774 | ||||
| Trade and other receivables | 1,265 | 1,566 | ||||
| Cash at bank | 920 | 524 | ||||
| TOTAL CURRENT ASSETS | 445,155 | 468,864 | ||||
| TOTAL ASSETS | 467,466 | 491,921 | ||||
| EQUITY AND LIABILITIES | ||||||
| Share capital | 195 | 195 | ||||
| Capital redemption reserve | 55 | 55 | ||||
| Capital reserve | 25 | 25 | ||||
| Other reserve | 56 | 56 | ||||
| Retained earnings | 402,212 | 402,324 | ||||
| TOTAL EQUITY | 402,543 | 402,655 | ||||
| NON-CURRENT LIABILITIES | ||||||
| Long-term borrowings | 18,400 | 78,700 | ||||
| Deferred tax | 4,742 | 4,915 | ||||
| TOTAL NON-CURRENT LIABILITIES | 23,142 | 83,615 | ||||
| CURRENT LIABILITIES | ||||||
| Bank overdrafts and short-term loans | 39,000 | 1,402 | ||||
| Trade and other payables | 1,753 | 1,893 | ||||
| Current tax payable | 1,028 | 2,356 | ||||
| TOTAL CURRENT LIABILITIES | 41,781 | 5,651 | ||||
| TOTAL LIABILITIES | 64,923 | 89,266 | ||||
| TOTAL EQUITY AND LIABILITIES | 467,466 | 491,921 | ||||
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | ||||||
| FOR THE YEAR ENDED 31 MARCH 2026 | ||||||
| Capital | ||||||
| Share | Capital | Redemption | Other | Retained | ||
| Capital | Reserve | Reserve | Reserves | Earnings | Total | |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | |
| Balance as at 1 April 2024 | 195 | 25 | 55 | 56 | 399,301 | 399,632 |
| Profit for the year | - | - | - | - | 23,493 | 23,493 |
| Dividends | - | - | - | - | (20,470) | (20,470) |
| Balance as at 31 March 2025 | 195 | 25 | 55 | 56 | 402,324 | 402,655 |
| Capital | ||||||
| Share | Capital | Redemption | Other | Retained | ||
| Capital | Reserve | Reserve | Reserves | Earnings | Total | |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | |
| Balance as at 1 April 2025 | 195 | 25 | 55 | 56 | 402,324 | 402,655 |
| Profit for the year | - | - | - | - | 20,358 | 20,358 |
| Dividends | - | - | - | - | (20,470) | (20,470) |
| Balance as at 31 March 2026 | 195 | 25 | 55 | 56 | 402,212 | 402,543 |
| GROUP CASH FLOW STATEMENT | ||||||
| FOR THE YEAR ENDED 31 MARCH 2026 | ||||||
| Year | Year | |||||
| Ended | ended | |||||
| 31.03.2026 | 31.03.2025 | |||||
| £'000 | £'000 | |||||
| Cash flow from operating activities | ||||||
| Profit from operations | 31,114 | 36,275 | ||||
| Adjustment for: | ||||||
| Depreciation | 53 | 53 | ||||
| Gain on disposal of investment properties | - | (885) | ||||
| Decrease in fair value of investment properties | 693 | 23 | ||||
| Operating cash flows before movement in working capital | 31,860 | 35,466 | ||||
| Decrease/(Increase) in inventories | 23,804 | (20,376) | ||||
| Decrease/ (Increase) in receivables | 301 | (87) | ||||
| Decrease in payables | (140) | (410) | ||||
| Cash generated from operations | 55,825 | 14,593 | ||||
| Interest paid | (3,965) | (4,971) | ||||
| Income taxes paid | (8,292) | (7,729) | ||||
| Net cash inflow from operating activities | 43,568 | 1,893 | ||||
| Investing activities | ||||||
| Proceeds from disposal of investment properties | - | 4,760 | ||||
| Net cash inflow from investing activities | - | 4,760 | ||||
| Cash flow from financing activities | ||||||
| (Repayment)/Increase in borrowings | (21,300) | 12,200 | ||||
| Equity dividend paid | (20,470) | (20,470) | ||||
| Net cash outflow from financing activities | (41,770) | (8,270) | ||||
| Net Increase/(Decrease) in cash and cash equivalents | 1,798 | (1,617) | ||||
| Opening cash and cash equivalents | (878) | 739 | ||||
| Cash and cash equivalents at the end of the year | 920 | (878) | ||||
2026 Annual General Meeting (AGM)
The 2026 AGM of the Company will be held on Wednesday 12 August 2026 and details will be set out in the Notice of AGM.
Notes to the Preliminary Announcement
Financial Information
The financial information presented within this document does not comprise the statutory financial statements for the financial years ended 31 March 2026 and 31 March 2025 but represents extracts from them.
The statutory financial statements for the financial year ended 31 March 2025 have been filed with the Registrar of Companies. The auditor reported on those financial statements: their report was (i) unqualified, (ii) did not include references to any matters to which the auditor drew attention by way of emphasis without qualifying the reports and (iii) did not contain statements under section 498(2) or (3) of the Companies Act 2006.
The statutory financial statements for the year ended 31 March 2026 are expected to be finalised and signed following approval by the Board of Directors and delivered to the Registrar of Companies following the Company's 2026 AGM on 12 August 2026.
Basis of Preparation
The preliminary announcement has been prepared in accordance with UK-Adopted International Accounting Standards but does not contain sufficient information to comply fully with UK-Adopted International Accounting Standards. The Financial Statements to be presented at the 2026 AGM are expected to comply fully with UK-Adopted International Accounting Standards.
~ Ends ~
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