Breaking finance and business news, tax information, jobs and more for finance directors and senior finance professionals.

The Company recently announced in its interim results on 26 September 2007 that Mr. Longfield has been promoted to take over from John Theophilus as Chief Financial Officer.

Mr. Longfield FCA, 41, joined Newfound in October 2006 as Group Financial Controller.  He was previously with PricewaterhouseCoopers for 18 years in the UK and Australia in a variety of roles including assurance, transaction services and corporate finance.  He advised multi-national listed and private companies in the technology, telecoms, leisure and manufacturing industries.

Jeremy White, Chairman, said: ”Simon brings considerable experience from his role in a Big Four practice and has already made significant improvements to the financial reporting structure of the Newfound group.”  

Newfound (LSE:NFND) is a creator and operator of international luxury resorts and destinations. Newfound established a proven business model through the success of Humber Valley Resort in Canada and is developing two further resorts in St. Kitts and Nevis in the Caribbean.

Humber Valley Resort, with 2,200 acres, currently has over 200 privately owned properties the majority of which are available for rent.  It is an all-season, luxury resort offering golf, world-class salmon fishing, sailing, skiing and a luxury spa.

The Group's vision is to create long-term environmental, social, physical, cultural and economic value in untapped destinations benefiting local populations, home owners, international visitors and shareholders alike.

Newfound has an integrated business model based on destination master-planning, which generates revenues from multiple sources, including freehold land sales, construction and development, services to owners, the provision of leisure activities and the operation of concessions.

Newfound is building an industry leading, world-class luxury lifestyle brand offering exceptional holiday experiences in luxurious homes, situated in locations of outstanding natural beauty.

Last month Newfound reported a first half pretax loss of $7.4 million from a profit of $1.8 million last year after higher administrative costs. The firm saw its revenue for the first half to end-June rise to $17 million, compared to $9.6 million last year. Newfound is currently finalising a $21 million loan facility for its Humbert Valley resort as well as negotiating finance to cover the $30 million infrastructure and initial construction costs for its Nevis Resort.  

Related links

• Newfound N.V.