The Coronavirus pandemic and subsequent lockdown provisions implemented by the UK government in March 2020 has undoubtedly had a significant impact on our business but we are doing all we can to protect not only the Company, but also all of our valued stakeholders.

I, along with the rest of the Board of Directors, wish to express their thanks to all members of PFK staff who have embraced this ever-changing situation with hard-work and determination and a commitment to both protecting the business and developing a plan on how to drive it forward as the future unfolds.

Our 6 branch offices, Sale Room and Professional Services offices in Skirsgill, Penrith and Rosehill, Carlisle were closed to the public in line with government regulations but all departments remain open for enquiries by telephone or email so that we can continue to serve our clients in the most efficient way possible. This method of conducting our business will continue until government advice on the matter changes. We are also in constant communications with our commercial tenants and are supporting them where necessary through this period of uncertainty for their businesses.

Staff who continue to work are following strict health and safety guidelines and are predominately working from home, if possible. Our IT infrastructure allows us to maintain a strong communication link not only between ourselves, but with our clients and other stakeholders. We are also using this period of uncertainty to test new and dynamic ways of working such as online-only auctions from our Sale Room and video valuations and virtual walkthroughs through our Estate Agency branches. These new ideas help to protect income streams in the short-term but also provide us with invaluable information about how our business will inevitably change as we begin to exit from this crisis.

The Company has been pro-active in accessing the government’s Coronavirus Job Retention Scheme and have furloughed those staff who are unable to work during the various office closures. In addition to this, we have applied for assistance in the form of Business Rates relief for the 2020/2021 period and grants through the Retail, Hospitality and Leisure Grand Fund (RHLGF).

I want to also take this opportunity to wish all of our stakeholders well and reassure them that I, along with the rest of the Board of Directors, are doing everything we can to maintain the strength of the business and its continued success in to the future.

John Rowlands, Executive Chairman