G.R. Holdings PLC - Final Results
October 29 1998 - 2:30AM
UK Regulatory
RNS No 9600m
G R (HOLDINGS) PLC
29th October 1998
G. R. (HOLDINGS) PLC
PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 30 JUNE 1998
CHAIRMAN'S STATEMENT
I am pleased to announce that the pre-tax profit of the group
on ordinary activities for the year ended 30 June 1998 was
#899,372 (#355,428 - 1997). After taxation the profit
attributable to members of the company is #782,179 against
#240,220 for the previous year. These are after costs
relating to certain UK property interests totalling #127,333
this year compared with #124,540 last year. The turnover was
up from #4,765,521 to #5,630,808. A special interim dividend
of 15p per share was paid on 21 April 1998. The directors
recommend the payment of a final dividend of 1.0p per share,
which subject to shareholders' approval, will be paid on 22
December 1998 to those shareholders on the Register of Members
on 27 November 1998.
The major increase in the profitability was achieved at
Grayshott Hall, where the increase in occupancy of around 17%
gave rise to substantially higher profits.
Morlands' turnover was marginally down resulting in an
increase in losses, partially due to costs attributable to
increased promotional activity.
Planning negotiations are continuing at the Glastonbury site.
The US property partnerships showed only one completed sale,
which gave rise to a loss.
We have reduced our holding in a listed public company and
achieved satisfactory profits on our original cost.
Stock has increased by #115,345. Debtors and creditors have
decreased by #24,185 and #50,608 respectively. Net cash at
bank and in hand has decreased by #1,556,145.
Since the end of the financial year the trading position of
the company has deteriorated compared to last year. Costs
continue to be monitored carefully.
Finally, I would like to thank my co-directors and all the
staff for their support and involvement in the improvement of
the company's results.
A.D. Stalbow
Chairman
29 October 1998
Consolidated Profit and Loss Account
for the year ended 30 June 1998
1998 1997
# # #
Turnover 5,630,808 4,765,521
Operating profit 710,675 163,073
Income from listed fixed 40,857 36,351
asset investments
Interest receivable and 157,646 162,704
similar income
Interest payable and (9,806) (6,700)
similar charges
188,697 192,355
Profit on ordinary activities 899,372 355,428
before taxation
Tax on profit on ordinary (117,193)(115,208)
activities
Profit on ordinary activities 782,179 240,220
after taxation
Dividends (2,269,657)(162,761)
(Loss)/profit for the financial (1,487,478) 77,459
year
Earnings per share 4.7p 0.6p
Consolidated Balance Sheet
as at 30 June 1998
1998 1997
# # #
Fixed Assets
Intangible assets 1 1
Tangible assets 2,102,479 1,999,022
Investments 3,901,230 3,946,649
6,003,710 5,945,672
Current Assets
Stocks 597,315 481,970
Debtors 412,628 436,813
Cash at bank and in hand 206,016 1,762,161
1,215,959 2,680,944
Creditors : amounts falling 931,375 850,302
due within one year
Net current assets 284,584 1,830,642
Total assets less current 6,288,294 7,776,314
liabilities
Capital and reserves
Called up share capital 2,208,513 2,208,513
(including non-equity interests)
Capital redemption reserve 425,000 425,000
Share premium account 198,396 198,396
Profit and loss account 3,456,385 4,944,405
Shareholders funds 6,288,294 7,776,314
Notes:
1. The summary of the results for the year ended 30 June
1998 does not constitute full financial statements within
the meaning of Section 240 of the Companies Act 1985.
2. The calculation of earnings per share is based on profits
of #782,179 (1997 - #240,220) being the profit after
taxation, and after deducting preference dividends, and
on 13,168,100 ordinary shares of 5p each (1997 -
13,168,100).
3. The Annual General Meeting will be held at 11.00am on 10
December 1998 at the offices of Beeson Gregory, The
Registry, Royal Mint Court, London EC3N 4EY.
4. Copies of the 1998 Report and Accounts are being sent to
shareholders in due course. Further copies are available
from the Company's registered office at 54 Jermyn Street,
London, SW1Y 6LX.
END
FR MPBJBLLMTTRP
G.R.(Hldgs) (LSE:GRH)
Historical Stock Chart
From Jun 2024 to Jul 2024
G.R.(Hldgs) (LSE:GRH)
Historical Stock Chart
From Jul 2023 to Jul 2024