palace capital plc (PCA) Snapshot

Palace Capital Plc announced unaudited consolidated earnings results for the six months ended July 31, 2012. For the period, the company reported revenue of GBP 104,660. Loss before interest was GBP 7,996 against GBP 20,927 a year ago. Profit before taxation was GBP 65,086 against GBP 23,852 a year ago. Profit for the period was GBP 65,086 or 0.21 pence per basic and diluted share against GBP 23,852 or 0.33 pence per basic and diluted share a year ago. Net cash outflow from operating activities was GBP 6,470 against GBP 4,450 a year ago.

Palace Capital Plc is seeking acquisitions. “The company is focusing on the UK secondary property market mainly outside of London in order to find value. We are seeking to acquire further property companies that own secondary commercial investments, commercial property portfolios and property backed businesses in order to enhance shareholder value. The secondary property market continues to be in a state of flux but we believe that the uncertainties the market is facing will produce a number of opportunities of which we believe we can take advantage. We look to the future with confidence,” Stanley Davis, Chairman, said.

Palace Capital Plc, Annual General Meeting, Jul 12, 2012., at 10:00 GMT Standard Time. Location: 41 Chalton Street.