Financial performance

Central Trust generated turnover of £85.4m in the year ended 31 December 2008 and a profit before taxation of £2.5m.

While both the level of turnover and profit before tax were lower than those in 2007, the ability of the Group to generate profits ,despite the recent turmoil in the banking sector, reflects its resilience and diversified income streams.

The consolidated balance sheet at 31 December 2008 showed the Group to be well capitalised, with net assets of £103.7m and net current assets of £99.8m.

Bank Facilities from National Australia Bank Limited and Barclays Bank PLC partly fund its loan and mortgage lending businesses. Both facilities were renewed and extended early in 2009, leaving the Group with a strong foundation for future growth.

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