WNER Wt Wner Usd

RNS Number:5188S
Warner Estate Holdings PLC
17 April 2008

            Warner Estate Holdings PLC ('Warner Estate' or 'Group')



                        Post Year-end Trading Statement




Warner Estate Holdings PLC, the property investment and fund management company,
today makes a trading statement following the Group's year end on 31 March 2008.
The Group intends to announce its preliminary results for the year ended 31
March 2008 during the week commencing 9 June 2008.



The Group reports that, following its Interim Management Statement in
mid-February, it has continued to generate satisfactory levels of realised
profit, including that arising from the sale of �16million of property, which
produced a realised profit of some �3.3million over March 2007 values.  These
disposals have also had the benefit of reducing net debt, which, following
payment of the interim dividend and repayment of a further tranche of
�2.7million of the loan notes issued on the purchase of JS Real Estate, stood at
approximately �350million on 31 March (30 September: �366million), with a
further �9.75million still to be received.



Concerning the Ashtenne Industrial Fund and Apia Regional Office Fund, where the
Group is a co-investor and asset manager, in the six months to 31 March 2008 the
fall in value in the Group's holdings in these funds reduced Warner Estate's 30
September 2007 adjusted NAV per share of 766p by 36p of which 15p arose in the
last three months.



The Group continues to comply with all banking covenants and to maintain
sufficient headroom within its facilities to meet ongoing working capital
requirements. Earlier this month, the �150million loan to the Agora joint
venture with Bank of Scotland was rolled for a further two years, and the entire
loan has been hedged at around 4.34%.



Outward movement in yields appears to have slowed during the quarter to March
although the Group remains cautious due to continuing uncertainty in financial
markets.  Nevertheless, revenue continues to improve, with the Group achieving
estimated rental values on reviews and renewals, and the latest cut in Base Rate
will reduce the Group's annual costs by around a further �0.5million.





                                    - ends -

Date: 17 April 2008


Warner Estate Holdings PLC                            City Profile
Philip Warner, Chairman                               Simon Courtenay
Peter Collins, Finance Director                       Tel:  020-7448-3244
Michael Stevens, Property Director
Tel:  020-7907-5100
Web:  www.warnerestate.co.uk








                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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