Quintain on track despite loss

Quintain Estates & Development say they are on track with their financial plans, as their half year numbers post a loss.

The loss of £58m since April was caused by Investment revaluations, with gross assets showing a 5% decrease. Excluding this, they made a pre-tax profit of £4.8m, and metseveral important milestones, including being on site with the Hilton hotel and student accommodation buildings in Wembley.

Adrian Wyatt, Quintain chief executive, said: “We are treading a clear path to operational cash neutrality through a combination of non-core sales, doing the right commercial deals for the business at this time and focusing on building income through the implementation of our corporate milestones.”

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