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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mountview Estates PLC | AQSE:MTVW.GB | Aquis Stock Exchange | Ordinary Share | GB0006081037 | Ordinary Shares 5p |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9,700.00 | 9,200.00 | 10,200.00 | 9,700.00 | 9,700.00 | 9,700.00 | 0.00 | 06:56:52 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMMTVW
RNS Number : 3302B
Mountview Estates PLC
16 June 2016
MOUNTVIEW ESTATES P.L.C.
Preliminary Results for the year ended 31 March 2016
CHIEF EXECUTIVE OFFICER'S STATEMENT
During the financial year ended 31 March 2016 revenue has increased by 11.9%, gross profit has increased by 13.5%, and profit before tax has increased by 21%. This has enabled earnings per share to increase by 21.7% to 993 pence which covers the increased dividend per share 3.3 times. The recommended final dividend of 100 pence per share in respect of the year ended 31 March 2016 will be payable on 15 August 2016 to Shareholders on the Register of Members as at 15 July 2016. The total dividends for the year at 300 pence per share will have increased by a further 9.1% when compared with the previous year.
There are as ever economic uncertainties and we cannot influence the macro-economic situation, but Mountview has strong foundations. Borrowings have been further reduced and we continue to make good purchases. We research all opportunities thoroughly and I believe that we can contemplate the future with confidence.
Duncan Sinclair
16 June 2016
MOUNTVIEW ESTATES P.L.C.
FINANCIAL HIGHLIGHTS
Hot Features
Premium
2016 2015 Increase
GBP GBP %
Revenue (millions) 79.8 71.3 11.9
Gross Profit (millions) 53.0 46.7 13.5
Profit Before Tax
(millions) 48.4 40.0 21.0
Profit Before Tax
excluding investment
properties revaluation
(millions) 46.9 40.0 17.3
Equity Holders'
Funds (millions) 311.8 287.7 8.4
Earnings per share
(pence) 992.9 816.0 21.7
Net assets per share
(GBP) 79.9 73.8 8.3
Dividend per share
(pence) 300 275 9.1
Mountview Estates P.L.C. advises its shareholders that, following the issue of the final results, the relevant dates in respect of the proposed final dividend payment of 100 pence per share are as follows:
Ex-dividend date 14 July 2016 Record date 15 July 2016 Payment date 15 August 2016
MOUNTVIEW ESTATES P.L.C.
CONSOLIDATED INCOME STATEMENT
FOR THE YEARED 31 MARCH 2016
Year Year
ended ended
31.03.2016 31.03.2015
GBP'000 GBP'000
REVENUE 79,765 71,331
Cost of sales (26,751) (24,621)
GROSS PROFIT 53,014 46,710
Administrative expenses (5,148) (5,055)
Gain on sale of investment
properties 197 0
Operating profit before changes
in
fair value of investment properties 48,063 41,655
Increase in fair value of investment
properties 1,504 57
PROFIT FROM OPERATIONS 49,567 41,712
Net finance costs (1,179) (1,736)
PROFIT BEFORE TAXATION 48,388 39,976
Taxation - current (9,593) (8,422)
Taxation - deferred (83) 263
Taxation (9,676) (8,159)
PROFIT ATTRIBUTABLE TO EQUITY
SHAREHOLDERS 38,712 31,817
Basic and diluted earnings
per share (pence) 992.9p 816.0p
MOUNTVIEW ESTATES P.L.C.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
FOR THE YEARED 31 MARCH 2016
As at As at
31.03.2016 31.03.2015
GBP'000 GBP'000
ASSETS
NON-CURRENT ASSETS
Property, plant and
equipment 1,911 2,008
Investment properties 29,448 29,399
31,359 31,407
CURRENT ASSETS
Inventories of trading
properties 334,108 323,020
Trade and other receivables 1,720 1,948
Cash at bank 1,706 1,625
337,534 326,593
TOTAL ASSETS 368,893 358,000
EQUITY AND LIABILITIES
Share capital 195 195
Capital redemption
reserve 55 55
Capital reserve 25 25
Other reserve 56 56
Retained earnings 311,421 287,330
311,752 287,661
NON-CURRENT LIABILITIES
Long-term borrowings 39,700 60,200
Deferred tax 5,342 5,259
45,042 65,459
CURRENT LIABILITIES
Bank overdrafts and
short-term loans 3,625 963
Trade and other payables 3,000 2,343
Current tax payable 5,474 1,574
12,099 4,880
TOTAL LIABILITIES 57,141 70,339
TOTAL EQUITY AND
LIABILITIES 368,893 358,000
MOUNTVIEW ESTATES P.L.C.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEARED 31 MARCH 2016
Capital
Share Capital Redemption Other Retained
Capital Reserve Reserve Reserves Earnings Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance as
at 1 April
2014 195 25 55 56 265,260 265,591
Profit for
the year 31,817 31,817
Dividends (9,747) (9,747)
Balance as
at 31 March
2015 195 25 55 56 287,330 287,661
Capital
Share Capital Redemption Other Retained
Capital Reserve Reserve Reserves Earnings Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance as
at 1 April
2015 195 25 55 56 287,330 287,661
Profit for
the year 38,712 38,712
Dividends (14,621) (14,621)
Balance as
at 31 March
2016 195 25 55 56 311,421 311,752
MOUNTVIEW ESTATES P.L.C.
GROUP CASH FLOW STATEMENT
FOR THE YEARED 31 MARCH 2016
Year Year
ended ended
31.03.2016 31.03.2015
GBP'000 GBP'000
Cash flow from operating activities
Operating profit 49,567 41,712
Adjustment for:
Depreciation 113 140
Loss on disposal of property,
plant & equipment 0 0
Gain on disposal of investment
properties (197) 0
(Increase) in fair value of
investment properties (1,504) (57)
Cash flow from operations before
changes in working capital 47,979 41,795
(Increase) in inventories (11,088) (1,697)
Decrease/(Increase) in receivables 228 (370)
Increase in payables 657 339
Cash generated from operations 37,776 40,067
Interest paid (1,179) (1,736)
Income taxes paid (5,693) (11,393)
Net cash inflow from operating
activities 30,904 26,938
Investing activities
Proceeds from disposal of investment
properties 1,700 54
Capital expenditure on investment
properties (48) 0
Purchase of property, plant
and equipment (16) (33)
Net cash inflow from investing
activities 1,636 21
Cash flow from financing activities
Repayment of borrowings (20,725) (10,181)
Equity dividend paid (14,621) (9,747)
Net cash (outflow) from financing
activities (35,346) (19,928)
Net (decrease)/ increase/ in
cash and cash equivalents (2,806) 7,031
Opening cash and cash equivalents 887 (6,144)
Cash and cash equivalents at
the end of the year (1,919) 887
Notes to the Preliminary Announcement
1. Financial Information
The financial information presented within this document does not comprise the statutory accounts for the financial years ended 31 March 2016 and 31 March 2015, but represents extracts from them.
The statutory accounts for the financial year ended 31 March 2015 have been filed with the Registrar of Companies. The auditor reported on those accounts: their report was (i) unqualified, (ii) did not include references to any matters to which the auditor drew attention by way of emphasis without qualifying the reports and (iii) did not contain statements under section 498(2) or (3) of the Companies Act 2006.
The statutory accounts for the year ended 31 March 2016 are expected to be finalised and signed following approval by the Board of Directors and delivered to the Registrar of Companies following the Company's Annual General Meeting on 10 August 2016.
2. Basis of Preparation
The preliminary announcement has been prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS") but does not contain sufficient information to comply fully with IFRS. The Financial Statements to be presented to Members at the 2016 AGM are expected to comply fully with IFRS.
- END -
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR BLGDLISBBGLU
(END) Dow Jones Newswires
June 16, 2016 02:00 ET (06:00 GMT)
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