RNS Number:1613N
Capital Radio PLC
15 November 2001
PART 2
Group Profit and Loss Account
For the year ended 30th September 2001 Note 2001 2000
Restated
#000 #000
Turnover
Continuing operations 123,201 124,919
Discontinued operations 11,386 10,006
2 134,587 134,925
Operating profit
Continuing operations
Before goodwill and exceptional operating costs 2 29,980 39,921
Exceptional operating costs 5 (2,712) (1,685)
Amortisation of goodwill 2 (9,622) (4,246)
3 17,646 33,990
Discontinued operations 3 2,689 (3,530)
Operating profit 3 20,335 30,460
Share of operating profit of associated companies 2,612 2,309
Exceptional gain on disposal of investments 4 10,215 -
Profit on ordinary activities before interest 2 33,162 32,769
Net interest payable and similar items from continuing 7 (2,535) (984)
operations
Net interest payable and similar items from discontinued 7 (2,775) (1,434)
operations
Underlying profit before taxation from continuing 5 30,057 41,246
operations
Goodwill, exceptional items and discontinued operations 5 (2,205) (10,895)
Profit on ordinary activities before taxation 27,852 30,351
Taxation on profit on ordinary activities 8 (8,381) (9,828)
Profit on ordinary activities after taxation 19,471 20,523
Minority interest in profits for the year - equity - (368)
Profit for the financial year 19,471 20,155
Dividends 10 (15,114) (14,807)
Retained profit for the financial year 20 4,357 5,348
Basic Earnings per share 11 23.8p 26.3p
Loss per share on goodwill, exceptional items and 2.5p 12.9p
discontinued operations after taxation
Underlying basic earnings per share from continuing 11 26.3p 39.2p
operations
Diluted earnings per share 11 23.8p 26.1p
Group Balance Sheet
30th September 2001
Note 2001 2000
#000 #000
Fixed assets
Intangible assets - goodwill 12 170,488 222,490
Tangible fixed assets 13 18,463 26,077
Investments (primarily associates) 14 2,060 3,790
191,011 252,357
Current assets
Stock - 383
Debtors 16 16,548 23,722
Cash at bank and in hand 1,608 -
18,156 24,105
Creditors: amounts falling due within one year 17 (54,862) (74,342)
Net current liabilities (36,706) (50,237)
Total assets less current liabilities 154,305 202,120
Creditors: amounts falling due after more than one 18 (8,037) (61,063)
year
Net assets 146,268 141,057
Capital and reserves
Called up share capital 19 2,044 2,040
Share premium account 20 72,589 72,084
Merger reserve 20 23,767 31,856
Profit and loss account 20 47,868 34,737
Equity shareholders' funds 146,268 140,717
Minority interest - equity - 340
146,268 141,057
Group Cash Flow Statement
For the year ended 30th September 2001 2001 2001 2000 2000
Note #000 #000 #000 #000
Net cash inflow from operating 21 34,816 44,419
activities
Dividends from associated undertakings 1,309 1,241
36,125 45,660
Returns on investments and servicing
of finance
Interest received and similar income 243 114
Interest paid (6,182) (1,781)
Dividends paid to minority interests - (768)
Returns on investments and servicing (5,939) (2,435)
of finance
Taxation paid (8,920) (12,433)
Capital expenditure
Proceeds from sale of tangible fixed 107 471
assets
Purchase of tangible fixed assets (3,922) (6,048)
Purchase of fixed asset investments (215) (1,014)
Purchase of own shares - (1,825)
Cash outflow on capital expenditure (4,030) (8,416)
Acquisitions and disposals 22 65,124 (144,464)
Cash outflow from equity dividends (15,045) (13,163)
paid
Cash inflow/(outflow) before financing 67,315 (135,251)
Cash (outflow)/inflow from financing 23 (59,303) 129,224
Increase/(decrease) in cash in the 8,012 (6,027)
period
Reconciliation of Net Cash Flow to Movement in Net Debt (note 24)
Increase/(decrease) in cash in the 8,012 (6,027)
period
Cash flow from decrease/(increase) in 44,000 (68,500)
debt
Change in net debt arising from cash 52,012 (74,527)
flows
Finance leases acquired with subsidiary - (1,104)
Repayment of finance leases 557 305
New loan notes issued - (24,354)
Repayment of loan notes 15,253 200
Movement in net debt in the period 67,822 (99,480)
Net debt at 1st October (100,723) (1,243)
Net debt at 30th September 24 (32,901) (100,723)
Reconciliation of Movements in Shareholders' Funds
For the year ended 30th September 2001 2001 2000
GROUP #000 #000
Profit for the financial year 19,471 20,155
Dividends (15,114) (14,807)
Retained profit for the financial year 4,357 5,348
New share capital issued 509 62,348
Merger reserve movement 685 31,856
Net increase in shareholders' funds 5,551 99,552
Shareholders' funds at beginning of year 140,717 41,165
Shareholders' funds at end of year 146,268 140,717
For the year ended 30th September 2001 2001 2000
COMPANY #000 #000
Profit for the financial year 16,530 9,506
Dividends (15,114) (14,807)
Retained profit/(loss) for the financial year 1,416 (5,301)
New share capital issued 509 62,348
Merger reserve movement 685 31,856
Net increase in shareholders' funds 2,610 88,903
Shareholders' funds at beginning of year 173,421 84,518
Shareholders' funds at end of year 176,031 173,421
Statement of Group Total Recognised Gains and Losses
For the year ended 30th September 2001 2001 2000
GROUP #000 #000
Profit for the financial year:
Group 17,361 18,470
Share of associates 2,110 1,685
Total gains and losses recognised since last annual report 19,471 20,155
Company Balance Sheet
30th September 2001
Note 2001 2000
#000 #000
Fixed assets
Tangible fixed assets 13 10,917 11,929
Investments 14 241,531 293,738
252,448 305,667
Current assets
Debtors 16 49,314 58,369
49,314 58,369
Creditors: amounts falling due within one year 17 (117,731) (129,815)
Net current liabilities (68,417) (71,446)
Total assets less current liabilities 184,031 234,221
Creditors: amounts falling due after more than one 18 (8,000) (60,800)
year
Net assets 176,031 173,421
Capital and reserves
Called up share capital 19 2,044 2,040
Share premium account 20 72,589 72,084
Revaluation reserve 20 429 429
Merger reserve 20 37,242 45,331
Profit and loss account 20 63,727 53,537
Equity shareholders' funds 176,031 173,421
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