Urban Splash in refinancing talks following "another tough year"
26th June 2012
DEVELOPER Urban Splash saw the value of its assets plummet in 2011, according to newly-filed accounts.The value of its net assets dropped to £4.9m during the year to March 31 - down from £24.8m in the prior year. This was partly due to a revaluation that wiped £10.3m off the value of the group's portfolio, although it also declared a pre-tax loss of £9.4m (2010: £10.3m loss) as turnover fell by 16% to £29.1m (£34.5m). Net debt also increased to £234.4m (£221m).However, the group......for the full story register now for free or login below...
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