RNS Number : 9405A
Black Arrow Group PLC
08 August 2008
8th AUGUST2008
BLACK ARROW GROUP PLC
UNAUDITED PRELIMINARY RESULTS FOR THE YEAR ENDED 31st MARCH 2008
At a meeting held today the board voted to recommend a final dividend of 4.00p per share (2007 - 2.00p) for the year ended 31st March
2008. No interim dividend was paid (2007 - Nil p) and the total distribution for the year will be 4.00p per share (2007 - 2.00p).
The results are as follows:-
Group Income Statement
For the year ended 31 March 2008
Unaudited Unaudited
2008 2007
�000 �000
Turnover 13,678 17,614
Cost of sales (7,921) (9,455)
Gross Profit 5,757 8,159
Distribution costs (1,036) (1,554)
Administrative expenses (7,203) (8,301)
(8,239) (9,855)
Other operating income 455 216
Net gain on disposal of property, plant and equipment 7,786 -
Realisation of property revaluation gains of previous years - 2,594
Actuarial gain on defined benefit pension scheme 169 278
Unrealised surplus on revaluation of investment properties - 866
Group operating profit from continuing operations 5,928 2,258
Finance Revenue 283 300
Finance costs - (37)
Other Finance revenue - 32 26
pensions
Profit from continuing operations before taxation 6,243 2,547
Tax expense (note 1) (1,509) (314)
Profit for the year from continuing operations 4,734 2,233
Attributable to:
Equity holders of the parent 4,649 2,230
Minority Interests 85 3
4,734 2,233
Earnings per share
Basic and diluted, for profit from continuing operations attributable to 24.48p 11.44p
ordinary equity holders of the parent (Note 3)
Group Statement of Recognised Income and Expenses
For the year ended 31 March 2008
Unaudited Unaudited
2008 2007
�000 �000
Profit attributable to shareholders of the parent undertaking 4,649 2,230
Profit attributable to Minority Interests 85 3
4,734 2,233
Group Balance Sheet
At 31 March 2008
Unaudited Unaudited
2008 2007
�000 �000
Non current assets
Property plant & equipment 3,941 3,900
Investment property 5,640 5,640
Trade & other receivables 1,741 1,437
11,322 10,977
Current assets
Inventories 451 1,161
Work in progress 200 146
Trade & other receivables 12,962 3,290
Cash & cash equivalents 3,143 7,312
16,756 11,909
Total assets 28,078 22,886
Current liabilities
Trade & other payables 2,321 1,974
Financial liabilities - 32
Provisions 212 298
Income tax payable 2,002 478
Accruals 19 36
4,554 2,818
Non current liabilities
Financial liabilities - 82
Provisions 222 483
Deferred tax liability 580 580
Defined benefit pension plan deficit 167 366
969 1,511
Total liabilities 5,523 4,329
Net assets 22,555 18,557
Capital & reserves
Equity share capital 3,819 3,899
Share premium account 312 312
Merger reserve 26 26
Capital redemption reserve 1,212 1,132
Retained earnings 17,045 13,117
Black Arrow Group shareholder's equity 22,414 18,486
Minority interests - equity 141 71
Total equity 22,555 18,557
Group Cash Flow Statement
For the year ended 31 March 2008
Unaudited Unaudited
2008 2007
�000 �000
Operating Activities
Profit for the year 4,734 2,233
Adjustments to reconcile profit for the year to net cash inflows from operating activities
Tax on continuing operations 1,509 314
Net finance revenue (283) (263)
Other finance revenue-pensions (32) (26)
Gain on the sale of property, plant and equipment (7,786) (2,602)
Unrealised surplus on revaluation of investment properties - (866)
Depreciation & impairment of plant & equipment 401 611
Amortisation & Impairment of intangible assets - 13
Difference between pension contributions paid and amounts recognised in the income 2 16
statement
Actuarial gains on defined benefit pension plan (169) (278)
Decrease/(increase) in inventories 656 (7)
(Increase)/decrease in trade and other receivables (976) 3,805
Increase/(decrease) in trade and other payables 418 (820)
Movement in provisions (347) (136)
Cash generated from operations (1873) 1,994
Income taxes paid (73) (53)
Net cash (outflow)/inflow from operating activities (1,946) 1,941
Investing activities
Interest received 283 300
Sale of property, plant & 356 3,595
equipment
Payments to acquire property, plant & equipment (2,108) (180)
Net cash (outflow)/inflow from investing activities (1,469) 3,715
Financing activities
Interest paid - (37)
Dividends paid to equity shareholders of the parent (389) (390)
Dividends paid to minority (15) -
Interests
Proceeds from issue of shares in ESOP trust - 21
Repayment of capital element of finance lease (18) (48)
Proceeds from issue of new share capital - 48
Purchase of own shares (332) (84)
Net cash outflow from financing activities (754) (490)
(Decrease)/increase in cash & cash equivalents (4,169) 5,166
Cash & cash equivalents at the beginning of the year 7,312 2,146
Cash & cash equivalents at the end of the year 3,143 7,312
Note 1
Taxation Unaudited Unaudited
2008 2007
�000 �000
Current income tax charge 1,509 72
Adjustment in respect of previous years - (55)
Deferred taxation - 297
Tax expense 1,509 314
Note 2
Reconciliation of movements in Shareholders Funds Unaudited Unaudited
2008 2007
�000 �000
Opening shareholders' funds 18,486 16,682
Movement during the year:
Profit attributable to shareholders of the parent 4,649 2,230
undertaking
Dividend (389) (390)
Repurchase of shares (332) (84)
Issue of shares - 48
Net increase in shareholders' funds 3,928 1,804
Closing shareholders' funds 22,414 18,486
Note 3
The calculation of profit per share is based upon profits of �4,649,000 (2007-profit �2,230,000) and 19,340,234 (2007-19,500,037)
ordinary shares of 20p each being the weighted average number in issue during the year and the previous year. The diluted profit per share
is based on profits for the year of �4,649,000 (2007-profit �2,230,000) and on 19,340,234 (2007- 19,500,037) ordinary shares.
Note 4
The figures for the year ended 31st March 2007 are unaudited and based on the Black Arrow Group plc Annual Report and Accounts 2007
filed with the Registrar of Companies, however the numbers have been restated from UK GAAP to IFRS. The auditors issued an unqualified audit
report on the 2007 UK GAAP accounts. The Group issued, within its unaudited interim results on 3rd December 2007, the impact of transition
to IFRS including a detailed reconciliation from UK GAAP to IFRS of the 2007 income statement and balance sheet. The unaudited 31 March 2007
figures shown above have been adjusted to correctly reflect the deferred tax liability on property valuations arising of �580,000.
Note 5
The figures for the year ended 31st March 2008 are un-audited and do not constitute statutory accounts within the meaning of S240 of the
Companies Act 1985.
CHAIRMAN'S COMMENTARY
This year's figures include the sale of our head office where we achieved a profit over our book value of some �7.8 million. Since the
year-end the sale proceeds have been received.
Unfortunately the trading division continued to sustain losses. Our venture into government business did not prove a success and in
December Paragon was sold; this involved further considerable losses.
Our leasing activities were profitable and contributed about �500,000 to the Group.
In my previous half-year statement I said that we were closing two of our factories and consolidating our manufacturing in our Rotherham
plant. This process has been completed and we now have one factory.
Although not justified by our trading results your directors think it appropriate that they recommend a dividend to reflect the one-off
profit that we have enjoyed from the property sale and accordingly a dividend of 4.00p will be proposed at the forthcoming AGM which will be
paid on 9th October 2008 to shareholders registered on the 12th September 2008.
------------------------------------------------------------------
Enquiries: ARNOLD EDWARD
Telephone 020-8572-7474
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR PPMRTMMBMMLP
Black Arrow (LSE:BLKA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Black Arrow (LSE:BLKA)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
