Interim Results
March 14 2002 - 9:38AM
UK Regulatory
RNS Number:9926S
Fieldens PLC
14 March 2002
Interim Results for the
Six Months Ended 31 December 2001
Chairman's Statement
In the six months ended 31 December 2001 the Company made an unaudited loss
after taxation of £12,334 on turnover of £1,716,876 (six months ended 31
December 2000: unaudited loss after taxation £46,004 on turnover of £1,453,778).
The 18% increase in sales for the half year represents a nearly full recovery
from the downturn in sales experienced by our trading business in the same
period last year. Sales were ahead in all product groups except the Cheetah
bead-seating tool, where a delay in new supplies caused the filling of some
orders to be deferred. The Honda ATV, lawn mower and power equipment division
made further progress, although with some reduction in margins.
The core operating business continues to be profitable. The interim loss
reported here includes professional costs incurred in the late Summer of 2001 in
relation to the corporate development opportunity which we had to abandon in
September and which I mentioned in the 2001 annual report.
Our net positive cash balance still exceeds £400,000. We have begun again to
build up an array of acquisition and development projects which we are
continuing to investigate.
D C Bonham
14 March 2002
Profit and Loss Account
For the Six Months Ended 31 December 2001
Six months ended Six months ended Six months ended
31 December 2001 31 December 2000 30 June
(Unaudited) (Unaudited) 2001
(Audited)
£ £ £
Sales 1,716,876 1,453,778 3,173,530
Cost of sales 1,435,212 1,230,237 2,657,662
Gross profit 281,664 223,541 515,868
Distribution costs 130,071 122,793 239,148
Administrative expenses 172,020 165,906 350,153
Operating loss (20,427) (65,158) (73,433)
Other interest receivable and similar income 6,356 8,847 18,006
Interest payable and similar charges 0 0 0
(14,071) (56,311) (55,427)
Loss on ordinary activities before taxation
Taxation 1,737 10,307 6,654
(12,334) (46,004) (48,773)
Loss on ordinary activities after taxation
Dividends 0 0 (25)
(12,334) (46,004) (48,798)
Retained loss for the period
Earnings per share (0.25)p (0.92)p (0.98)p
Number of ordinary shares in issue 5,000,000 5,000,000 5,000,000
The profit and loss account has been prepared on the basis that all operations
are continuing operations.
There are no recognised gains and losses other than the loss for the period.
Balance Sheet
As at:
31 December 2001 31 December 2000 30 June 2001
(Unaudited) (Unaudited) (Audited)
£ £ £ £ £ £
Fixed Assets 540,704 574,250 531,627
Current Assets
Stock 645,477 667,066 706,642
Debtors 347,880 317,093 489,361
Cash at bank and in hand 417,196 426,882 421,996
1,410,553 1,411,041 1,617,999
Creditors: amounts falling (433,683) (452,590) (619,719)
due within one year
Net current assets 976,870 958,451 998,280
Total assets less current 1,517,574 1,532,701 1,529,907
liabilities
Creditors: amounts falling 0 0 0
due after more than one year
Provision for liabilities and 0 0 0
charges
1,517,574 1,532,701 1,529,907
Capital and reserves
Called up share capital 252,500 252,500 252,500
Capital redemption reserve 47,500 47,500 47,500
Share premium account 799,195 799,195 799,195
Profit and loss account 418,379 433,506 430,712
Shareholders' funds
(including non-equity 1,517,574 1,532,701 1,529,907
interests)
NOTES: The interim results to 31 December 2001, which are unaudited, have been
prepared in accordance with the accounting policies adopted in the account for
the year ended 30 June 2001.
The information set out in the interim report does not constitute annual
accounts within the meaning of section 240 of the Companies Act 1985. The
results for the year to 30 June 2001 are extracts from the published accounts
for that period which were audited and reported on without qualification and
have been delivered to the Registrar of Companies.
Earnings per share is calculated by dividing the loss for the period by the
5,000,000 5p ordinary shares in issue at each period end.
Copies of this statement are being sent to shareholders and are also available
from the registered office of the Company, Starhouse, Onehouse, Stowmarket,
Suffolk IP14 3EL.
This information is provided by RNS
The company news service from the London Stock Exchange
Ft Fdn (LSE:FDN)
Historical Stock Chart
From Oct 2024 to Nov 2024
Ft Fdn (LSE:FDN)
Historical Stock Chart
From Nov 2023 to Nov 2024
