Ensor Holdings PLC Preliminary Results -4-
June 13 2014 - 2:00AM
UK Regulatory
GBP'000 GBP'000
Revenue 1,431 1,769
Expenses (1,325) (1,619)
______ ______
Operating profit 106 150
Income tax expense (25) (16)
______ ______
Profit after tax 81 134
Loss on disposal (263) -
______ ______
(Loss)/profit after tax for the (182) 134
year
______ ______
Cash flows from discontinued operations
Operating 25 268
Investing (18) (4)
Proceeds of disposal 613 -
______ ______
Total cashflow 620 264
______ ______
The net assets of the subsidiary at the date of disposal and at 31 March 2013
were as follows:
14 February 31 March
2014 2013
GBP'000 GBP'000
Property, plant and equipment 47 52
Inventories 222 223
Trade and other receivables 323 429
Cash at bank 142 124
Trade and other payables (208) (325)
Attributable goodwill 350 350
______ ______
876 853
______
Loss on disposal (263)
______
Total consideration, satisfied in cash 613
______
On 2 January 2014, the business and assets of SRC Limited were sold as a going
concern. The business has not been classified as a discontinued operation
because it is not considered to have been a separate major line of business.
5. Earnings per share
The calculation of earnings per share for the period is based on the profit for
the period divided by the weighted average number of ordinary shares in issue,
being 29,963,373 (2013: 30,295,976). The diluted earnings per share is based
upon the weighted average of 29,963,373 shares (2013: 30,378,246). The dilution
in the prior period was due to subsisting share options and had no impact on
the amounts disclosed.
The weighted average number of shares for the basic and diluted earnings per
share calculation can be reconciled as follows:
2014 2013
No. No.
Weighted average number of shares in issue 29,963,373 30,295,976
Weighted average number of dilutive shares arising - 82,270
from subsisting share options
__________ __________
Weighted average number of shares for diluted 29,963,373 30,378,246
calculation
_ _____ _ _____
6. Cash flow generated from operations
2014 2013
GBP'000 GBP'000
Cash flows from operating
activities
Profit for the year 1,102 1,580
attributable to equity
shareholders
Depreciation charge 567 535
Finance costs 301 373
Income tax expense 242 474
Profit on disposal of (3) (14)
property, plant &
equipment
Profit on disposal of - (12)
asset held for sale
Amortisation of intangible 33 34
asset
Charge in respect of - 81
enhanced transfer exercise
Loss on disposal of 263 -
subsidiary
_______ _______
Operating cash flow before 2,505 3,051
changes in working capital
(Increase(/decrease in 241 112
inventories
(Increase)/decrease in 1,163 (1,112)
receivables
Increase/(decrease) in (1,125) 443
payables
_______ _______
Cash generated from/(used 2,784 2,494
in) operations
Interest paid (158) (191)
Income taxes paid (158) (170)
_______ _______
Net cash generated from/ 2,468 2,133
(used in) operations
_______ _______
7. Other information
The financial information set out in this preliminary announcement of results
does not constitute the Company's statutory accounts for the years ended 31
March 2014 or 31 March 2013 but is derived from those accounts. Statutory
accounts for 2013 have been delivered to the Registrar and those for 2014 will
be delivered following the Company's Annual General Meeting. The Independent
Auditors have reported on these accounts. Their reports were unqualified and
did not contain a statement under section 498 of the Companies Act 2006.
The Annual General Meeting of the Company will be held at the Company's
registered office, Ellard House, Floats Road, Manchester M23 9WB at 10.00 a.m.
on Monday 21 July 2014.
The Report and Accounts will be sent to shareholders and be available from the
Company's website at www.ensor.co.uk shortly. Additional copies of the Annual
Report and of this statement will be available at the Company's registered
office.
Enquiries:
Ensor Holdings PLC
Roger Harrison/Marcus Chadwick
0161 945 5953
Westhouse Securities Limited
Richard Baty/Hugo Rubenstein
020 7601 6100
Directors
END
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