Interim Results
September 06 2000 - 7:10AM
UK Regulatory
RNS Number:4982Q
Reflex Group PLC
6 September 2000
REFLEX GROUP Plc
INTERIM REPORT
FOR THE PERIOD ENDED 30 JUNE 2000
RESULTS
The results for the six months ended 30 June 2000 shows a profit attributable
to Group Shareholders of IR#156,000 (EUR200,000). This compares with a profit
of IR#149,000 (EUR189,000) for the corresponding period ending 30 June 1999.
Consolidated net assets as at 30 June 2000 amounted to IR#2,292,000
(EUR2,909,000). The consolidated net assets at 31 December 1999 amounted to
IR#2,163,000 (EUR2,746,000).
The results for the six month period represents a profit of IR0.37 pence
(EUR0.48cents) per ordinary share compared to a profit of IR0.36 pence
(EUR0.45 cents) per ordinary share for the six month period ending 30 June
1999.
BUSINESS REVIEW
On 1 January 2000 the business of one of the Group's main subsidiaries, Short
Term Rental Systems Limited, was incorporated into the business of the Group's
other main subsidiary, First Rental Limited. First Rental Limited continues to
supply fully commissioned data processing equipment and networks for short
periods to the industrial and services sector throughout the UK and traded
profitably during the period.
6 September 2000
Independent Review Report To Reflex Group plc
Introduction
We have been instructed by the Company to review the financial information set
out on the following pages and we have read the other information contained in
the interim report and considered whether it contains any apparent
misstatements or material inconsistencies with the financial information.
Directors' responsibilities
The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The Listing
Rules of the Irish Stock Exchange require that the accounting policies and
presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts except where any changes,
and the reasons for them, are disclosed.
Review work performed
We conducted our review in accordance with guidance contained in Bulletin
1999/4 issued by the Auditing Practices Board. A review consists principally
of making enquiries of Group management and applying analytical procedures to
the financial information and underlying financial data and, based thereon,
assessing whether the accounting policies and presentation have been
consistently applied unless otherwise disclosed. A review excludes audit
procedures such as tests of controls and verification of assets, liabilities
and transactions. It is substantially less in scope than an audit performed
in accordance with Auditing Standards and therefore provides a lower level of
assurance than an audit. Accordingly we do not express an audit opinion on
the financial information.
Review conclusion
On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 June 2000.
Arthur Andersen
Charted Accountants
Dublin
5 September 2000
REFLEX GROUP Plc
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 JUNE 2000
Unaudited Unaudited
6 months ended 6 months ended
30 June 2000 30 June 1999
IR#000s EUR000s IR#000s EUR000s
Turnover 1,432 1,818 1,520 1,930
Cost of Sales (518) (656) (676) (858)
-------------------------------------
Gross Profit 914 1,162 844 1,072
Operating expenses, net (711) (903) (781) (992)
-------------------------------------
Operating Profit 203 259 63 80
Write Back of Provision for Losses
on Discontinued Operations - - 18 23
-------------------------------------
Profit on Ordinary Activities
before Interest 203 259 81 103
Interest, net 3 4 (2) (3)
-------------------------------------
Profit on Ordinary Activities before
Taxation 206 263 79 100
Taxation (50) (63) 70 89
-------------------------------------
Profit Attributable to Group
Shareholders 156 200 149 189
-------------------------------------
Earnings per Ordinary Share IR0.37p EUR0.48c IR0.36p EUR0.45c
======================================
(1) The directors do not recommend the payment of an interim dividend.
REFLEX GROUP Plc
CONSOLIDATED BALANCE SHEET
Unaudited Audited
30 June 2000 31 December 1999
IR#000s EUR000s IR#000s EUR000s
Fixed Assets
Tangible assets - Lease and
rental equipment 1,240 1,574 1,314 1,669
- Other 277 352 328 416
------------------------------------
1,517 1,926 1,642 2,085
Current Assets
Stock 22 28 24 30
Debtors 724 919 546 693
Cash at bank and in hand 812 1,031 637 809
------------------------------------
1,558 1,978 1,207 1,532
Creditors (Amounts falling due
within one year) (736) (935) (642) (815)
-------------------------------------
Net Current Assets 822 1,043 565 717
Creditors (Amounts falling after
more than one year) (47) (60) (44) (56)
-------------------------------------
Total Assets 2,292 2,909 2,163 2,746
=====================================
Capital and Reserves
Called up share capital 2,081 2,642 2,081 2,642
Share premium account 4,303 5,464 4,303 5,464
Profit and loss account (4,092) (5,197) (4,221) (5,360)
-------------------------------------
Shareholders' Funds - all equity 2,292 2,909 2,163 2,746
=====================================
REFLEX GROUP Plc
CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 JUNE 2000
Unaudited Unaudited
6 months ended 6 months ended
30 June 2000 30 June 1999
IR#000s EUR000s IR#000s EUR000s
Net Cash Inflow from Operating
Activities 418 531 362 460
-------------------------------------
Returns on Investments and Servicing
of Finance 3 4 (2) (3)
Capital expenditure and financial
investment (233) (296) (433) (550)
-------------------------------------
Cash Inflow/(Outflow) before
Finance 188 239 (73) (93)
Financing - Capital element of
finance payments (13) (17) (12) (16)
-------------------------------------
Increase/(Decrease) in Cash in the
Period 175 222 (85) (109)
=====================================
Reconciliation of Net Cash Flow
to Movement in Net Funds
Increase/(Decrease) in cash in
period 175 222 (85) (109)
Cash outflow from decrease in debt 17 22 17 22
-------------------------------------
Change in Net Funds resulting
from Cashflows 192 244 (68) (87)
New finance leases - - - -
-------------------------------------
Movement in Net Funds in the
Period 192 244 (68) (87)
Net Funds, beginning of period 532 675 307 389
-------------------------------------
Net Funds, end of period 724 919 239 302
=====================================
REFLEX GROUP Plc
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE 6 MONTHS ENDED 30 JUNE 2000
Unaudited Unaudited
IR#000s EUR000s
Profit attributable to Group Shareholders 156 200
Exchange adjustments (27) (37)
----------------------------------
129 163
==================================
REFLEX GROUP Plc
RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
FOR THE 6 MONTHS ENDED 30 JUNE 2000
Unaudited Unaudited
IR#000's EUR000's
At 1 January 2000 2,163 2,746
Total gains for the year 129 163
-----------------------------
At 30 June 2000 2,292 2,909
REFLEX GROUP Plc
TAXATION
Unaudited Unaudited
30 June 2000 30 June 1999
IR#000s EUR000s IR#000s EUR000s
Overseas corporation tax charge (50) (63) - -
Overseas corporation tax credit - - 70 89
----------------------------------
(50) (63) 70 89
==================================
Reflex Grp (LSE:RFI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Reflex Grp (LSE:RFI)
Historical Stock Chart
From Oct 2023 to Oct 2024
