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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Constellation Brands CDR | NEO:STZ | NEO | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.60 | 20.57 | 20.60 | 176 | 19:28:30 |
STAVERT ZIGOMALA PLC INTERIM REPORT 2002 CHAIRMAN'S STATEMENT It is with some disappointment that I now present the Company's interim figures for the 6 month period ending 30th November 2002. It is little comfort to report that the portfolio is down less in the percentage terms than the main Stock Market Indices. Although over the last couple of years the main UK Indices had dropped considerably from the peaks established in 2000, it is only in the last 6 months that this had severely dented the value of "old economy" stocks in which the Company is substantially invested. Bank and Pharmaceutical shares have lost considerable amounts of their values and Insurances are in many cases only a fraction of previous values. The only pleasing area of performance has been amongst the smaller companies in which we have been investing over the last few years. Dividends received were much in line with last year's figures and, as the Company continues to invest in higher yielding stock, it is hoped that shortfalls caused by reductions of dividends in larger companies will continue to be offset. In the circumstances the Directors have decided to declare an interim dividend for the year to 31st May 2003 at the same rate as the interim dividend in the previous year. Profits on sale of investments were substantially down from the previous year, quite simply due to lack of activity in dealings. Edward N. Cooper Chairman Group Profit and Loss Account (Unaudited) 6 months ended 6 months ended Year ended 30th November 30th November 31st May 2002 2001 2002 £ £ £ Income from Fixed Assets Investments 81,171 76,934 176,243 Administrative expenses 18,446 12,754 27,630 Operating Profit 62,725 64,180 148,613 Profit on Sale of Investments 304 71,105 44,065 Interest Receivable (net) 4,125 12,810 12,100 Profit on Ordinary Activities before 67,154 148,095 204,778 taxation Estimated taxation on Profit on Ordinary (7,626) (29,619) (10,983) Activities Profit attributable to Stockholders 59,528 118,476 193,795 Dividends Proposed 53,762 53,762 119,762 Retained Profit for the Period 5,766 64,714 74,033 Earnings per Ordinary Stock Unit 19.9p 39.5p 64.7p Earnings per Deferred Stock Unit 16.3p 32.7p 53.4p STAVERT ZIGOMALA PLC AND SUBSIDIARY Balance Sheet (Unaudited) £ £ £ FIXED ASSETS Investments 3,716.252 4,206,865 4,405,399 CURRENT ASSETS Debtors 9,379 11,763 11,310 Cash at Bank 197,910 234,239 218,690 207,289 246,002 230,000 CREDITORS: Amount Falling due in one year 68,806 83,412 80,876 NET CURRENT ASSETS 138,483 162,590 149,124 TOTAL ASSETS LESS CURRENT LIABILITIES 3,854,735 4,369,455 4,554,523 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 46,295 46,295 46,295 3,808,440 4,323,160 4,508,228 PROVISIONS FOR LIABILITIES AND CURRENTS Deferred Taxation 495,396 686,420 705,862 3,313,044 3,636,740 3,802,366 CAPITAL AND RESERVES Called-up share capital 50,000 50,000 50,000 Revaluation reserve 1,879,995 2,272,382 2,735,083 Other reserves 1,166,728 1,159,243 1,166,424 Profit and loss account 261,321 155,115 210,859 SHAREHOLDERS' FUNDS (including non-equity interests) 3,313,044 3,636,740 3,802,366 Group Cash Flow Statement (Unaudited) 6 months ended 6 months ended 6 months ended 30th November 30th November 31st May 2002 2001 2002 £ £ £ Cash inflow/(outflow) from operating 69,676 62,196 138,246 activities Returns on investment and servicing of finance net interest received 4,125 12,926 12,223 interest paid -------- (116) (123) preference dividends paid -------- (350) (700) Taxation income tax paid (7,626) (7,423) (16,920) Capital expenditure and financial investment purchase of fixed assets investments (28,094) (236,619) (300,211) Sale of fixed asset investments 7,139 75,433 61,606 Equity dividends paid (66,000) (53,412) (106,824) Increase/(Reduction) in cash (20,780) (147,365) (212,643) Notes 1. The results for the six months ended 30th November 2002 have been prepared applying the accounting policies described on page 13 of the Annual Report and Accounts 2002 and are unaudited and unreviewed. The comparative figures for the 12 months ended 31st May 2002 are extracts only and full accounts on which the auditors gave an unqualified report have been delivered to the Registrar of Companies. 2. The dividend of 8.75p per share on £1 8 3/4% Cumulative Redeemable Preference Shares, and interim dividends of 18p per Ordinary Stock Unit and 14.5p per Deferred Stock Unit will be paid on 4TH April 2003 to the relevant holders registered on 19 th March 2003 3. This interim report is being to posted to shareholders and copies are available from the Registrars Stavert Zigomala Plc - Registered in England No. 194028 Registered Office - PO Box 233 Manchester M60 1QP Registrars - Hague Lambert Artillery House, 15 Byrom Street, Manchester M3 4PF
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