Thursday, Nov 05, 2009

Once Bitten, Twice Shy

London Evening Standard: Quintain back in profit but warns of trouble ahead for the property market

London-focused developer Quintain Estates today swung back into the black, but warned there could be “trouble ahead” for the commercial property market. It came as Quintain joined the property sector's dash for cash, announcing plans to raise £191.2 million. Chief executive Adrian Wyatt said the cash call means it is now prepared for the possibility of a double-dip recession. “In any recession, there are always late problems such as bankruptcies, but we now have enough firepower to withstand any further problems,” he said.

Posted by wanderinman @ 06:16 PM (601 views)
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