the former owner of BizSpace, which he sold to Highcross, is back in the business. This is old news, but his company Safeland today reported good profits, "LONDON (Thomson Financial) - Safeland PLC swung to a full-year pretax profit, mainly on the 3.6 mln stg it received from the sale of its stake in two companies, and posted a confident outlook for the future.
The property management group said its newly-launched fund management business performed well and losses at its Italian self-storage business continued to fall. The company also said it will realign itself to focus on its successful fund management business as the 'difficult' conditions in property trading are unlikely to improve.
Pretax profit for the year to end-March came in at 3.69 mln stg, boosted by profits from the disposals of Bizspace PLC and Serviced Office Group PLC, compared with a year-ago loss of 1.15 mln. Revenue for the year was 18.27 mln stg, up from 15.59 mln. Net Asset Value per share rose 3 pence to 114 pence.