好色先生TV

The company has been working with Rothschild on a review of its operations and a report is expected at the end of September.

Philip Davies, Linden鈥檚 chief executive, said the board was 鈥渃onsidering all options鈥�, and that it was 鈥減remature鈥� to say what conclusions would be given in the report. 鈥淲e could sell or we could do nothing; we鈥檒l decide in due course,鈥� he said.

One City source said a trade sale was the most likely outcome, because the Bank of Scotland had not been paid a dividend since it took a 35% stake in the company in 2001, and as a result would be looking to exit. The bank acquired its shares after it backed a 拢73m management buyout.

In an interview with 好色先生TV last September, the chief executive said he preferred running Linden away from scrutiny of the City. 鈥淚t鈥檚 more comforting in the private arena,鈥� he said, adding: 鈥淲hen you are building apartments, profits are lumpy so you can鈥檛 always satisfy the City with steady growth. We don鈥檛 have to meet shareholders鈥� expectations in the public arena.鈥�

One City source said a trade sale was likely because the Bank of Scotland had not been paid a dividend since it took a 35% stake in 2001

However, the review is likely to prompt interest from quoted housebuilders including Redrow and Bellway as well as private company the Miller Group.

Currently, Linden staff hold a 48% stake in the business, Davies owns 17% and the Bank of Scotland owns the remainder.

In June, Linden reported a 178% increase in pre-tax profit to 拢12.8m, up from 拢4.7m in the 2004/05 financial year, following the sale of its north-west division. Group turnover was 拢280m, up 33% on the previous year.

However it has not always been plain sailing for the firm. Last year Davies wanted Linden to build 1500-1700 units but actually completed just over 1000 units. The plan for 2006 is to build between 1300 and 1600 units. Turnover is expected to reach 拢300m.