'£200m. war chest proves we're doing OK'

GUERNSEY-BASED property developer the CPC Group has around £200m. ready for the next favourable deal.

Speaking exclusively to the Guernsey Press before any UK newspapers, Christian Candy, one half of the renowned Candy & Candy design firm and founder of the group, said it was time to speak out in the light of recent speculation on the financial stability of his and his brother, Nick's, businesses.

'We are in an excellent financial position. We have consolidated at the right time through good judgement and some luck, but it means we can make strategic decisions about investments and be opportunistic if the time arises.'

Richard Williams, the group's chief operating officer in Guernsey, agreed.

'We have a cash war chest of around £200m. and can stand comfortably on the touchline and select the right opportunities.'