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Name | Symbol | Market | Type |
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FT Vest US Equity Deep Buffer ETF January | AMEX:DJAN | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.0976 | 0.26% | 37.2623 | 37.27 | 37.12 | 37.12 | 29,235 | 21:15:01 |
RNS Number:0504O Daejan Holdings PLC 29 July 2003 29 July 2003 DAEJAN HOLDINGS PLC PRELIMINARY RESULTS ANNOUNCEMENT for the year ended 31 March 2003 The Chairman, Mr B S E Freshwater today announced Preliminary Results for the year to 31 March 2003. - Investment Property holdings #549 million (2002 - #533 million) - Profit before tax #30.7 million (2002 - #30.1 million) - Profit after tax #20.6 million (2002 - #20.8 million) - Proposed Final Dividend 33p per share giving a total for the year of 55p (2002 - 52p) an increase of 5.8% over the previous year - Earnings Per Share 126.3p (2002 -127.4p) The Group's investment portfolio was professionally valued as at 31 March 2003 and the resultant increase has been incorporated into the accounts of that date. The Net Asset Value per Share attributable to equity shareholders based on the Balance Sheet figures including trading stock at the lower of cost and net realisable value at that date is #28.81 (2002 - #27.17). Adjusted Net Asset Value per share of #32.83 (2002 - #32.05) representing equity shareholders funds with the trading stock based on a professional valuation as at 31 March 2002 (as adjusted for sales during the year) but after full allowance is made for tax (at applicable UK and US rates) on realisation of investment and trading properties at valuation and for deduction of the fair value adjustment after tax of #10.9m (2002 - #4.7m), as calculated under Financial Reporting Standard 13. The adjustment for trading properties amounted to #171.8m (2002 - #174.7m) while the tax adjustment in respect of the trading properties amounted to #54.2m (2002 - #55.0m) and the adjustment in respect of properties held for investment amounted to #41.3m (2002 - #35.4m). Earnings per share is calculated by reference to profit on ordinary activities after taxation and minority interests, of #20,584,000 (2002 - #20,766,000) and 16,295,357 (2002 - 16,295,357) Ordinary shares being the weighted average number of ordinary shares in issue during the year. The financial information set out in this Preliminary Announcement does not constitute the Company's statutory accounts for the years ended 31 March 2003 or 2002. The financial information for 2002 is derived from the statutory accounts for 2002 which have been delivered to the Registrar of Companies. The Auditors have reported on the 2002 accounts; their report was unqualified and did not contain a statement under Section 237 (2) or (3) of the Companies Act 1985. The statutory accounts for 2003 will be finalised on the basis of the financial information presented by the Directors in this preliminary announcement and of policies consistent in all material respects with the policies applied in the Company's statutory accounts for 2002. The statutory accounts for 2003 will be delivered to the Registrar of Companies following the Company's next Annual General Meeting. The Annual General Meeting will be held at 12.00 noon on Wednesday 29 October 2003 in The Methven Room, CBI, Centre Point, New Oxford Street, London WC1A 1DU. If approved, the final dividend will be paid on 3 November 2003 to Shareholders registered at the close of business on 3 October 2003. For further information call: Mark Jenner Company Secretary Daejan Holdings PLC 020 7836 1555 Terry Garrett Weber Shandwick Square Mile 020 7067 0700 CONSOLIDATED PROFIT AND LOSS ACCOUNT for the year ended 31 March 2003 Unaudited Audited 2003 2002 #000 #000 Turnover - Rents and Service Charges Receivable 77,164 79,157 Sale of trading properties 6,968 6,666 ___________ ___________ 84,132 85,823 ========== ========== Net Rental Income 37,723 40,972 Surplus on sale of Trading Properties 6,587 5,591 Other Income 159 143 ___________ ___________ Gross Profit 44,469 46,706 Administrative and Other Expenses (6,472) (7,063) ___________ ___________ Operating Profit from Continuing Operations 37,997 39,643 Surplus on Sale of Investment Properties 1,378 307 Net Interest Payable and Other Similar Items (8,683) (9,869) ___________ ___________ Profit on Ordinary Activities before Taxation 30,692 30,081 Tax on Profit of Ordinary Activities (10,057) (9,262) ___________ ___________ Profits on Ordinary Activities after Taxation 20,635 20,819 Minority Interests - Equity (51) (53) ___________ ___________ Profit Attributable to Equity Shareholders 20,584 20,766 Dividends: Interim (3,585) (3,585) Final (proposed) (5,377) (4,889) ___________ ___________ (8,962) (8,474) ___________ ___________ Retained Profit for the Year #11,622 #12,292 ========== ========== Earnings per Share 126.3p 127.4p Interim Dividend already paid per share 22.0p 22.0p Proposed Final Dividend per share 33.0p 30.0p Total Dividend for the year per share 55.0p 52.0p CONSOLIDATED BALANCE SHEET as at 31 March 2003 Unaudited Audited 2003 2002 #000 #000 #000 #000 _______ _______ _______ _______ Fixed Assets Tangible Assets 548,651 533,581 Investments 617 617 ___________________________________________________________________________ 549,268 534,198 Current Assets Properties held for Trading 65,920 57,288 Debtors: Due within one year 30,206 28,251 Due after one year 1,699 2,042 ___________________________________________________________________________ 31,905 30,293 ___________________________________________________________________________ Investments 128 142 Cash at Bank 57,204 47,679 ___________________________________________________________________________ 155,157 135,402 Creditors: Amounts falling due within one year (93,494) (91,218) ___________________________________________________________________________ Net Current Assets 61,663 44,184 ___________________________________________________________________________ Total Assets Less Current Liabilities 610,931 578,382 Creditors: Amounts falling due after more than one year (132,557) (127,271) Provisions for liabilities and charge (8,695) (8,168) ___________________________________________________________________________ Net Assets 469,679 442,943 ___________________________________________________________________________ Capital and Reserves Called up Share Capital 4,074 4,074 Share Premium Account 555 555 Revaluation Reserve 246,095 230,919 Other Reserves 6,784 6,784 Profit and Loss Account 211,998 200,443 ___________________________________________________________________________ Equity Shareholders' Funds 469,506 442,775 Minority Interests - Equity 173 168 ___________________________________________________________________________ 469,679 442,943 ___________________________________________________________________________ Equity Shareholders' Funds per Share #28.81 #27.17 CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 March 2003 Unaudited Audited 2003 2002 #000 #000 #000 #000 _______ _______ _______ _______ Operating Activities Net Cash Inflow from operating activities (note i) 27,393 42,307 Returns on Investments and servicing of finance Interest received 1,510 1,865 Interest paid (11,174) (11,499) Minority Interests (31) 23 ____________________________________________________________________________________ Net Cash outflow from returns on investments and servicing of finance (9,695) (9,611) Taxation UK Corporation tax paid (9,728) (9,639) Overseas tax paid (480) (889) ____________________________________________________________________________________ (10,208) (10,528) Capital Expenditure Purchase of Investment Properties - (59) Sale of Investment Properties 2,334 1,385 ____________________________________________________________________________________ Net Cash inflow for Capital Expenditure 2,334 1,326 Equity Dividends Paid (8,474) (8,474) ____________________________________________________________________________________ Cash inflow before financing 1,350 15,020 Financing Repayment of secured loans (5,064) (10,554) Repayment of mortgage advances (407) (6,677) New mortgage advances 14,663 24,133 ____________________________________________________________________________________ Net cash inflow from financing 9,192 6,902 ____________________________________________________________________________________ Increase in cash in the year (note ii) 10,542 21,922 ____________________________________________________________________________________ NOTES TO THE CASH FLOW STATEMENT Unaudited Audited 2003 2002 #000 #000 __________________________________________________________________________________________ (i) Reconciliation of operating profit to net cash inflow from operating activities Operating profit 37,997 39,643 (Increase)/Decrease in properties held for trading (11,834) 1,315 Increase in debtors (1,488) (1,806) Increase in creditors 3,102 3,150 Decrease in investments held as current assets 16 5 Release of provision against trading properties (400) -- __________________________________________________________________________________________ Net cash inflow from operating activities 27,393 42,307 __________________________________________________________________________________________ (ii) Analysis of changes in net debt 1 April Cash Exchange 31 March 2002 flow Movements 2003 #000 #000 #000 #000 __________________________________________________________________________ Cash at bank and in hand 47,679 10,881 (1,356) 57,204 Overdrafts -- (339) -- (339) __________________________________________________________________________ 47,679 10,542 (1,356) 56,865 Secured loans (140,126) 5,064 1,079 (133,983) Unsecured loan stock (1,792) -- -- (1,792) Mortgage advances (41,470) (14,256) 3,665 (52,061) __________________________________________________________________________ (135,709) 1,350 3,388 (130,971) __________________________________________________________________________ This information is provided by RNS The company news service from the London Stock Exchange END FR EAXXPAFKDEFE
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