Northacre PLC Interim Results -2-
11 Noviembre 2014 - 8:00AM
UK Regulatory
Kasia Maciborska-Singh
Group Financial Controller
Northacre PLC
Consolidated Interim Statement of Comprehensive Income
(Unaudited)
6 Months 6 Months Year
ended ended ended
Note 31.8.2014 31.8.2013 28.2.2014
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Continuing operations
Group revenue 2 2,581 873 2,956
Cost of sales (19) (457) (1,294)
---------- ------------ ----------
Gross profit 2,562 416 1,662
Administrative expenses (2,508) (2,429) (4,869)
---------- ------------ ----------
Group profit/(loss) from
operations 54 (2,013) (3,207)
Investment revenue 466 15,046 15,063
Profit on disposal of available for sale
financial asset - - 111
Other gains - - 336
Profit before taxation 520 13,033 12,303
Taxation 347 112 (103)
---------- ------------ ----------
Profit for the period attributable
to equity holders of the
Company 867 13,145 12,200
========== ============ ==========
Other comprehensive loss:
Changes in fair value of
available for sale financial
assets 5 - (15,000) (15,000)
---------- ------------ ----------
Total comprehensive profit/(loss)
for the period 867 (1,855) (2,800)
========== ============ ==========
Profit per ordinary share 3
Basic 2.05p 49.18p 39.51p
Diluted 2.05p 49.18p 39.51p
Northacre PLC
Consolidated Interim Statement of Financial Position
(Unaudited)
31.8.2014 31.8.2013 28.2.2014
Unaudited Unaudited Audited
Note GBP'000 GBP'000 GBP'000
Non-current assets
Goodwill 8,007 8,007 8,007
Property, plant and equipment 770 886 823
Available for sale financial
assets 5 8,825 7,149 8,825
Investments 6 - 2,154 -
---------- ---------- ----------
17,602 18,196 17,655
---------- ---------- ----------
Current assets
Inventories 4,010 32 168
Trade and other
receivables 1,961 4,514 6,668
Cash and cash equivalents 18,270 7,388 21,240
---------- ---------- ----------
24,241 11,934 28,076
---------- ---------- ----------
Total assets 41,843 30,130 45,731
========== ========== ==========
Current liabilities
Trade and other
payables 7 16,860 2,561 6,616
---------- ---------- ----------
Total liabilities 16,860 2,561 6,616
========== ========== ==========
Equity
Share capital 1,058 668 1,058
Share premium account 22,565 18,552 22,565
Merger reserve - - 8,086
Retained earnings 1,360 8,349 7,406
---------- ---------- ----------
Total equity 24,983 27,569 39,115
---------- ---------- ----------
Total equity and
liabilities 41,843 30,130 45,731
========== ========== ==========
Northacre PLC
Consolidated Interim Statement of Cash Flows (Unaudited)
6 Months 6 Months Year
ended ended ended
31.8.2014 31.8.2013 28.2.2014
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Profit for the period before tax 520 13,033 12,303
Adjustments for:
Investment revenue (466) (15,046) (15,063)
Loss on disposal of investment - - 1
Goodwill on acquisition less stamp
duty paid - - (368)
Profit on sale of available for
sale financial assets - - (111)
Fair value adjustment - - (7,149)
Depreciation and amortisation 75 73 148
(Increase)/decrease in working
capital (3,543) (2,792) 503
---------- --------------- --------------
Cash used in operations (3,414) (4,732) (9,736)
Corporation tax - consortium relief
refunded - 764 3,293
---------- --------------- --------------
Net cash used in operating activities (3,414) (3,968) (6,443)
---------- --------------- --------------
Cash flows from investing activities
Purchase of property, plant and
equipment (22) (40) (52)
Increase in investments - (2,154) (8,824)
Acquisition of subsidiary, net
of cash acquired - - 10,502
Interest received 38 46 63
Dividends received 428 15,000 15,000
---------- --------------- --------------
Net cash generated from investing
activities 444 12,852 16,689
---------- --------------- --------------
Cash flows from financing activities
Proceeds from issue of shares - - 12,489
Dividends paid - (10,691) (10,689)
---------- --------------- --------------
Net cash (outflow)/inflow from
financing activities - (10,691) 1,800
---------- --------------- --------------
(Decrease)/increase in cash and
cash equivalents (2,970) (1,807) 12,046
Cash and cash equivalents at beginning
of period 21,240 9,195 9,194
---------- --------------- --------------
Cash and cash equivalents at end
of the period 18,270 7,388 21,240
========== =============== ==============
Cash and cash equivalents at 31(st) August 2014 and 31(st) August
2013 represent bank deposits held by the Group.
Northacre PLC
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