Blackrock International Land, the property company spun off by Fyffes, has announced its first financial statements and have planned to invest €200m over the next two years.
The figures covering the seven-week period from its commencement of operations on 11 May to 30 June 2006 show that total outlay on purchases came in at €13.5m for the period.
Net rental income for the seven-week period was €704,000, shareholders' funds at 30 June 2006 were €206.8m and net assets per share at 30 June 2006 were 35.45 cent.
'The directors have ambitious targets for growth, aiming to achieve investment expenditure of €100m over the next year and another €100m within a further twelve months,' commented Blackrock International Land chairman, Carl McCann.
Blackrock International Land also today named Philip Halpenny as Finance Director. Philip was a chartered accountant with Pricewaterhouse Coopers until 1989, and has held a number of senior positions with Fyffes, including Company Secretary, since 1998.
Fyffes said today that Seamus Keenan will be the new Company Secretary. Seamus, a chartered accountant, joined Fyffes from KPMG in 1995.
Blackrock shares were unchanged at 40 cent in Dublin this evening.
