RNS Number:4313W
Braime (T.F.& J.H.) (Hldgs) PLC
12 March 2004
At a meeting of the directors held here today, the accounts for the year ended
31st December 2003 were submitted and approved by the directors. The
preliminary profits statement isas follows:
Consolidated Profit and Loss Account for the year ended 31st December 2003
2003 2002
# #
Group turnover 9,418,422 9,981,579
Trading (loss)/profit (57,393) 400,521
Interest receivable 50,953 63,873
(6,440) 464,394
Interest payable 26,589 42,136
(Loss)/profit before taxation (33,029) 422,258
Taxation 15,009 72,582
(Loss)/profit attributable to shareholders (48,038) 349,676
The directors recommend the following appropriations:
Preference shares
Dividend already paid of 5.00p per share (2002 5.00p) 9,000 9,000
Ordinary shares
Interim dividend already paid of 1.80p per share
(2002 2.20p) 8,640 10,560
Proposed final dividend of 4.00p per share (2002 8.00p) 19,200 38,400
'A' Ordinary shares
Interim dividend already paid of 1.80p per share
(2002 2.20p) 17,280 21,120
Proposed final dividend of 4.00p per share (2002 8.00p) 38,400 76,800
92,520 155,880
Retained (loss)/profit (140,558) 193,796
Earnings per share (3.96p) 23.65p
Consolidated Balance Sheet as at 31st December 2003
2003 2002
# #
Fixedassets Intangible assets 11,644 11,565
Tangible assets 554,479 623,579
566,123 635,144
Current assets Stocks 1,890,199 1,913,433
Debtors 1,899,444 1,836,492
Cash at bank and in hand 1,614,131 1,956,323
5,403,774 5,706,248
Creditors Amounts falling due within one year 1,832,366 2,033,529
Net current assets 3,571,408 3,672,719
Total assets less current liabilities 4,137,531 4,307,863
Deferred income 26,440 28,096
Net assets 4,111,091 4,279,767
Capital and reserves Called up share capital 540,000 540,000
Reserves 3,571,091 3,739,767
Shareholders' funds 4,111,091 4,279,767
Comprising:
Non-equity shareholders' funds 180,000 180,000
Equity shareholders' funds 3,931,091 4,099,767
Consolidated Cash Flow Statement for the year ended 31st December 2003
2003 2002
Notes # #
Net cash (outflow)/inflow from operating activities 1 (17,501) 409,416
Returns on investments and servicing of finance
Interest received 50,953 63,873
Interest paid (26,589) (42,136)
Non-equity dividends paid (9,000) (9,000)
15,364 12,737
Taxation
UK Corporation tax paid (20,701) (36,004)
Overseas tax paid (26,653) (61,839)
(47,354) (97,843)
Capital expenditure
Purchase of tangible fixed assets (35,410) (103,795)
Disposal of tangible fixed assets 17,286 26,946
(18,124) (76,849)
Equity dividends paid (141,120) (141,120)
Management of liquid resources
Decrease/(increase) in treasury deposits 2 245,354 (108,816)
Increase/(decrease) in cash 3 36,619 (2,475)
Notes to Consolidated Cash Flow Statement
1. Reconciliation of operating profit to net cash inflow
from operating activities 2003 2002
# #
Operating (loss)/profit (57,393) 400,521
Depreciation of tangible and intangible assets 96,046 113,558
Profit on disposal of fixed assets (2,148) (16,372)
Government grants amortised (1,656) (1,654)
Decrease/(increase) in stocks 23,234 (186,716)
(Increase)/decrease in debtors (53,350) 26,356
(Decrease)/increase in creditors (15,481) 80,180
Movement in value of assets caused by foreign
exchange movements (6,753) (6,457)
(17,501) 409,416
Effect of
Foreign
Exchange
Rate
2. Analysis of changes in net funds 2002 Cash flow Changes 2003
# # # #
Cash at bank and in hand 543,950 (96,838) - 447,112
Bank loans and overdrafts (891,765) 133,457 (28,118) (786,426)
(347,815) 36,619 (28,118) (339,314)
Treasury deposits 1,412,373 (245,354) - 1,167,019
1,064,558 (208,735) (28,118) 827,705
3. Reconciliation of net cash flow to movement
in net funds #
Increase in cash 36,619
Effect of foreign exchange rate changes (28,118)
8,501
Decrease in treasury deposits (245,354)
Movement in net funds in the year (236,853)
Net funds at 31st December 2002 1,064,558
Net funds at 31st December 2003 827,705
The annual general meeting will be held on Friday 30th April 2004 and it is
proposed to pay the final dividend on Tuesday 4th May 2004 to shareholders
registered with the company on 26th March 2004.
This statement has been agreed with the company's auditors.
D. H. Brown
Company Secretary
T.F. & J.H. Braime (Holdings) P.L.C.
12th March 2004
This information is provided by RNS
The company news service from the London Stock Exchange
END
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