Kevin McCabe’s Scarborough Group today revealed its annual profits for the year to 28 February 2006
In Scarborough’s latest annual report and accounts published today, McCabe warned that the UK Property market was poised to weaken.
Net assets of Scarborough were £99m in value up from £64m a year earlier.
McCabe said: ‘Whilst in the short term Scarborough continues to take advantage of the buoyant investment climate that pervades the UK market, we do foresee a downturn occurring in the short term.’
Scarborough Group runs its property business through three subsidiaries: Scarborough Property Company; Scarborough Development Group; and Ancient Mariner Properties.