RNS Number:2205M
G.R. Holdings PLC
26 October 2001
G.R. (HOLDINGS) PLC
PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2001
CHAIRMAN'S STATEMENT
The pre-tax profit of the group on ordinary activities for the year ended 30
June 2001 was #2,298,920, which includes an exceptional profit on the disposal
of the land at Glastonbury of #2,381,053 (2000 - #37,153). After taxation the
profit attributable to members of the company is #2,250,751 against a loss of
#6,405 for the previous year. The turnover was up from #4,749,464 to
#4,824,755.
The occupancy at Grayshott Hall fell by approximately 6%, giving rise to a
fall in profits of #100,910.
The turnover at Morlands increased by 17%, reducing losses by #20,438 for the
year.
There was one small partial sale of land in America in which we hold an
investment interest as a limited partner.
During the year our stock has decreased by #86,791. Debtors have decreased by
#354,596 whilst creditors have increased by #179,114. Net cash at bank and in
hand has increased by #3,593,759.
Since the end of the year, the company has seen a deterioration in its trading
position and is continuing to monitor costs very carefully.
Finally, I would like to thank my co-directors and all the staff for their
support and involvement during the year and include a special note of
appreciation to our partners and associates involved in the sale of the land
at Glastonbury.
A.D. Stalbow
Chairman
26 October 2001
G.R. (Holdings) plc
Consolidated Profit and Loss Account
For the year ended 30 June 2001
2001 2000
# # #
Turnover 4,824,755 4,749,464
Operating loss (208,510) (57,337)
Exceptional profit on disposal of tangible fixed 2,381,053 -
assets
Profit on ordinary activities before interest 2,172,543 (57,337)
Income from listed fixed asset investments 3,078 14,463
Interest receivable and similar income 131,826 87,765
Interest payable and similar charges (8,527) (7,738)
126,377 94,490
Profit on ordinary activities before taxation 2,298,920 37,153
Tax on profit on ordinary activities (48,169 ( 43,558)
Profit /(loss) on ordinary activities after 2,250,751 (6,405)
taxation
Dividends (347,114) (215,433)
Profit/ (loss) for the financial year 1,903,637 (221,838)
Earnings per share 158.6p (12.8)p
G.R. (Holdings) plc
Consolidated Balance Sheet
As at 30 June 2001
2001 2000
# # #
Fixed assets
Intangible assets 1 1
Tangible assets 1,365,134 1,829,605
Investments 2,969,141 3,524,210
4,334,276 5,353,816
Current assets
Stocks 345,807 432,598
Debtors 244,025 598,621
Cash at bank and in hand 3,729,873 283,540
4,319,705 1,314,759
Creditors : amounts falling due
within one year 743,416 752,254
Net current assets 3,576,289 562,505
Total assets less current liabilities 7,910,565 5,916,521
Creditors : amounts falling due after
more than one year 62,487 21,961
7,848,078 5,894,560
Capital and reserves
Called up share capital 2,208,513 2,208,513
Capital redemption reserve 425,000 425,000
Share premium account 198,396 198,396
Profit and loss account 5,016,169 3,062,651
Shareholders funds 7,848,078 5,894,560
G.R (Holdings) plc
Notes:
1. The summary of results for the year ended 30 June 2001 does not constitute
full financial statements within the meaning of Section 240 of the
Companies Act 1985.
2. The board has decided to declare a final dividend of 1p, (2000 - nil) for
the year ending 30th June 2001 on the ordinary shares of the company. This
will be paid on 17th December 2001 to those shareholders on the Register
of Members on 9th November 2001.
3. The calculation of earnings per share is based on a profit of #2,250,751
(2000: #6,405 -loss) being the profit after taxation and after deducting
preference dividends, and on 13,168,100 ordinary shares of 5p each (2000:
13,168,100).
4. The Annual General Meeting will be held at 11.30am on 10 December 2001 at
the offices of Beeson Gregory, The Registry, Royal Mint Court, London EC3N
4EY.
5. Copies of the 2001 Report and Accounts are being sent to shareholders in
due course. Further copies are available from the Company's registered
office at 1-6 Sloane Square, London SW1W 8EE.
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