Commercial arm leads way for J Smart

COMMERCIAL and residential property group J Smart, which has been listed on Aim since 1965, reported "buoyant" occupier demand for its Central Belt-based commercial property developments in an interim management statement yesterday.

However, trading overall was only "satisfactory" due to slow residential house sales.

Although chairman John Smart warned that falling property values made a forecast of the year-end headline profit figure "not possible", he maintained the company remained on course to meet profits forecasts.

"I see no reason to alter my forecast that, subject to unforeseen circumstances, the underlying profit for this year will be not less than 8 million."

In April the group admitted being "unaware" of its interim reporting deadline for the first six months to end of January and suspended trading in its shares for three days until it released them.

The 6.5m figure for the period to the end of January compared to 4.2m the same period the year before.

Shares were unaffected by yesterday's statement.