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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Black Arrow | LSE:BLKA | London | Ordinary Share | GB0001014975 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 52.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5531N Black Arrow Group PLC 23 November 2001 BLACK ARROW GROUP PLC SUMMARY OF GROUP INTERIM RESULTS (UNAUDITED) #'000 Half year Year September Ended March 2001 2000 2001 TURNOVER Leasing & Instalment finance 520 522 1,113 Office furniture Manufacturing Distribution and partitioning 8,426 10,312 21,282 8,946 10,834 22,395 Operating Profit -17 1,242 2,808 Interest receivable 179 224 371 Interest payable -2 -9 -1 Profit on ordinary activities before taxation 160 1,457 3,178 Taxation on profits on ordinary Activities (Note 1) -50 -452 -980 Profit on ordinary activities after taxation 110 1,005 2,198 Minority Interests 25 - -13 Profit attributable to members of 135 1,005 2,185 the parent company Dividends Nil -375 -1,123 Profits retained 135 630 1,062 PER SHARE Earnings (Note 2) 0.63p 4.39p 9.90p Diluted Earnings (Note 2) 0.63p 4.37p 9.86p Dividends Nil 1.75p 5.25p STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES For the half year to 30th September Year Ended March 2001 2000 2001 Profit attributable to shareholders of the parent undertaking 135 1,005 2,185 Unrealised surplus on revaluation of properties - - 478 Cumulative effect of prior period adjustments - - 680 135 1,005 3,343 NOTE OF HISTORICAL COST PROFITS AND LOSSES For the half year to 30th September Year Ended March 2001 2000 2001 Reported Profit on ordinary activities before Taxation 160 1,457 3,178 160 1,457 3,178 Historical cost profit for the period retained after taxation, minority interests, dividends and other appropriations 135 630 1,062 SUMMARISED CONSOLIDATED BALANCE SHEET as at 30th September Year Ended March 2001 2000 2001 FIXED ASSETS 7,099 6,196 6,595 CURRENT ASSETS Stocks 2,360 2,241 1,999 Debtors falling due within 1 year 6,217 8,333 6,087 Debtors falling due after 1 year 2,044 1,862 3,276 Cash & bank Balances 6,616 5,329 7,157 17,237 17,765 18,519 CREDITORS - amounts falling due within one year 4,481 5,654 5,329 NET CURRENT ASSETS 12,756 12,111 13,190 TOTAL ASSETS LESS CURRENT LIABILITIES 19,855 18,307 19,785 PROVISIONS FOR LIABILITIES AND CHARGES 100 100 100 19,755 18,207 19,685 CAPITAL & RESERVES Called up share capital 4,279 4,319 4,289 Share premium account 285 285 285 Revaluation Reserve 1,223 745 1,223 Other Reserves 757 717 747 Profit & Loss Account 13,203 12,121 13,108 19,747 18,187 19,652 MINORITY INTERESTS 8 20 33 SHAREHOLDERS FUNDS 19,755 18,207 19,685 CONSOLIDATED STATEMENT OF CASH FLOWS For the half year to 30th September Year Ended March 2001 2000 2001 Net cash inflows from operating activities 583 468 3,772 Net cash inflow from returns on investments and servicing of finance 177 215 370 Taxation -491 -403 -1,080 Net cash (outflow)/inflow from capital expenditure and Financial Investments -770 -154 397 Equity dividends paid - - -1,184 Net cash flow before use of liquid resources & financing -501 126 2,275 Management Of liquid resources - - - Financing -40 -1,328 -1,453 (Decrease)/Increase in cash -541 -1,202 822 Net cash inflow from operating activities Operating Profit -17 1,242 2,808 Depreciation 277 295 576 Other items -11 -8 -11 Working capital 334 -1,061 399 583 468 3,772 1. The charge for the six months to 30th September 2001 is based on the estimated rate chargeable for the year to 31st March 2002 2. The basic earnings per share calculation complies with the provisions of FRS 14 and is based on profit attributable to members and the weighted average number of shares in issue during this period, excluding the shares held by the ESOP Trust. Diluted earning per share take into account outstanding share options and complies with FRS 14. 3. The above financial information has neither been audited nor reviewed and does not constitute statutory accounts as defined in section 240 of the Companies Act 1985 and has not been delivered to the Registrar of Companies. 4. The figures for the year ended 31st March 2001 are taken from the accounts filed with the Registrar of Companies. The auditor's report on these accounts was unqualified. 5. Copies of the Chairman's Statement and the Interim Results are being distributed to Shareholders. Copies will also be available from the Company Secretary, Black Arrow Group plc, 748 London Road, Hounslow, Middlesex TW3 1PD CHAIRMAN'S COMMENTARY In my annual statement I alerted shareholders to the sorry state of the economy and the negative impact this was having on our office furniture business. Our group half-year results reflect this situation and I am sorry to have to report only a marginal profit for that period. The events of 11th September conspire to make the outlook for the remainder of the year even more depressing. Our order books are at a low ebb and there is no immediate prospect of any improvement in the level of enquiries. Against this background your Directors have decided not to pay an interim dividend, having considered it imprudent to do so. 23rd November, 2001 Arnold Edward Chairman Telephone No: 020 8572 7474
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