Safeland in the red as turnover falls

Safeland, the property trading and investment company, reports turnover of £1.9m for the six months to the end of September - down from £12.5m last time -and a pre-tax loss of £0.4m against a profit of £4.3m.

Net asset value per share was 111.7p (30 September 2015: 110.7p, 31 March 2016: 114.0p).

Managing director Larry Lipman said: "The market is constrained by the current economic and political outlook, which is creating a very cautious environment. We continue to pursue acquisition opportunities whilst continuing to add value to existing stock held through planning or development.

"The Board is confident that it has the skills necessary to make selected acquisitions in the current market, but is being extremely selective until there is further clarity as to the general outlook."

At 2:12pm: (LON:SAF) Safeland PLC share price was +2p at 42p