海角视频

The company which owns a large swathe of Plymouth鈥檚 waterfront and its former airport site has made losses of more than 拢2m in the past year.

Sutton Harbour Group, in its annual results for the year to the end of March 2021, said it had been hit by Covid lockdowns and the , a tenant on Plymouth鈥檚 barbican. But it is confident of recovery as the nation emerges from restrictions and the vaccination programme continues.

Its report revealed revenue of 拢5.4m, down from 拢6.5m a year earlier, and a pre-tax loss for the year of 拢2.373m, more than three times the 拢756,000 deficit it made in 2019/20.

The AIM-listed firm, which has a long lease on the city鈥檚 mothballed airport site, blamed the 鈥淐ovid crisis鈥� for slashing car parking revenues, 鈥渁n important cash generative activity鈥� and shrinking business at Plymouth Fisheries.

It said that after lockdown restrictions were relaxed in the summer of 2020 car parking revenues quickly recovered as visitors returned to Plymouth鈥檚 waterfront. But this was short lived and its report said: 鈥淯nfortunately this recovery was cut short as two further lockdowns followed.鈥�

During the year the Company was also 鈥渆xposed to the business failure鈥� of Edinburgh Woollen Mill, which occupied a 7,500sq ft waterfront unit but which closed without warning in May 2021.

It also said that business was slowed at Plymouth Fisheries as the market for high-quality fish reduced in the wake of closures of restaurants and hospitality businesses during the lockdowns.

The annual results revealed that there was a 拢294,000 cut to car parking revenue, and a 拢146,000 from its fisheries and Sutton Harbour and King Point marinas business.

Sutton Harbour Group was not eligible for any Covid-19 related Government grants and full functionality of the harbour - fisheries operations, harbour services and 24-hour lock operations - operated continuously to support users due to its status as a statutory harbour authority and as part of the food supply chain infrastructure.

However, the company said collection of rental income from tenants had been steady throughout the year with some tenants arranging instalment payment plans.

Overall 90% rentals falling due have been collected and the group has continued to let vacant space to new tenants with the occupancy rate at 97% March 31.

Its marinas benefitted from a boom in 海角视频-based leisure during Summer 2020, a trend that has continued into the Summer 2021 season giving rise to a marinas occupancy rate of 96% by June 2021.

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The company also stressed that visitors have now returned to Plymouth鈥檚 harbour area with tenants and other operators attracting strong footfall.

The annual report said: 鈥淭o date, the recovery of Summer 2021 is proceeding strongly as parking incomes and tenants' businesses improve, allowing the group to move on from the difficulties of the past 16 months.鈥�

The report concluded: 鈥淭he disruption caused by three lockdowns and restrictions imposed by the 海角视频 Government to contain the spread of Covid-19 was more extensive than we foresaw last summer and there is the potential for further interruptions to trading in the future.

鈥淭he board is now more optimistic that with the vaccination programme well advanced and with businesses finding ways to adapt to different levels of restriction, the group is well placed to benefit from the re-popularisation of 海角视频 based tourism and staycations.

鈥淭his has already been demonstrated by the growth in marina occupancy, recent increase in new lettings and recovery in parking revenues in the post year end period.鈥�