We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Braime Group Plc | LSE:BMT | London | Ordinary Share | GB0001185270 | 'A'NON.V ORD 25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,050.00 | 900.00 | 1,200.00 | 1,050.00 | 1,050.00 | 1,050.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Manufacturing Industries,nec | 48.32M | 2.27M | 1.5792 | 6.65 | 15.12M |
Hot Features
Premium
RNS Number:1144D
Braime (T.F.& J.H.) (Hldgs) PLC
31 August 2007
Interim results for the six months ended 30th June 2007
We are pleased to report, that after two years of losses, the company made a
profit before tax for the first half of 2007 of #67,000 compared to a loss of
#218,000 for the same period in 2006 on a turnover up 13% to #5.9m. While this
level of profit remains far from satisfactory, it is indicative of significant
progress being made in restoring long term profitability to the business.
The need to recommence regular dividend payments to shareholders as soon as
possible remains a major priority of the board. Nevertheless, the directors have
decided that, after an extended period of losses which has reduced the group's
reserves, it would not be prudent to pay a dividend until the return to
profitability has been more firmly established.
Performance of group companies
All the subsidiary companies which distribute our 4B brand of components for the
material handling industry have had an excellent first six months and have all
traded well above forecast. Although we are concerned by both the continuing
weakness of the US dollar and the economic downturn in the USA, we remain
confident that we can maintain the increase in overseas sales as a result of our
ongoing investment in new products.
In contrast, the manufacturing business has continued to sustain heavy losses.
However, we are making substantive progress in restructuring this business. The
first major automated production cell has now been successfully commissioned and
output from this cell will now ramp up to reach full production in March of next
year. Additionally, we have recently secured, from new and existing customers,
five further packages of long term business. The combined impact of this
additional business is forecast to increase sales by over 50% in 2008 compared
to 2007 and will very significantly improve the trading position of Braime
Pressings Limited. This will give us a further year to complete and consolidate
this turnaround before embarking on the move to more cost effective premises,
currently targeted for 2010.
Move to AIM
The move to the AIM market was successfully completed on 27th June 2007. On
joining AIM, we set up a new web site for T.F. & J.H. Braime (Holdings) P.L.C.
www.braimegroup.com to provide shareholders with detailed information about
their company, including the latest financial statements and, in future, all
company announcements will be posted to this site.
Also included on the holding company site are links to our new site for the
manufacturing business, www.braimepressings.com and the existing site for the 4B
range of material handling components, www.go4b.com. We hope that shareholders,
who visit these sites, will find them both interesting and informative.
Relocation
As announced shortly before the AGM, we have reached agreement with the planning
officers of Leeds City Council, supported by English Heritage, on a detailed
planning brief for the development of our Hunslet Road site. We have appointed
Knight Frank and Swift Property Services as joint selling agents. ENCIA, a firm
of specialist consultants, are currently carrying out a detailed environmental
study prior to the site being marketed to potential developments in early
October 2007. We would hope to be receiving offers in January 2008, although any
offers are likely to be conditional on formal planning approval, a process which
may take a further twelve months.
Given the uncertainties attached to both the realisable value and timing of any
sale, the board does not plan to enter into any firm commitments regarding
relocation until the position on the sale is clarified.
Outlook
Providing all parts of the group continue to trade at their current levels, we
expect a positive result for the full year.
Condensed Consolidated Income Statement for the six months ended 30th June 2007
2007 2006
# #
(unaudited) (unaudited)
Revenue 5,887,371 5,210,460
------------ ------------
Profit/(loss) from operations 78,025 (224,932)
Finance costs (162,913) (140,514)
Finance income 151,996 147,204
------------ ------------
Result for the period before tax 67,108 (218,242)
Tax expense @ 30% (20,132) -
------------ ------------
Net result for the period 46,976 (218,242)
------------ ------------
Basic profit/(loss) per share 3.26p (15.16p)
------------ ------------
Condensed Consolidated Statement of Recognised Income and Expense for the six
months ended 30th June 2007
2007 2006
# #
(unaudited) (unaudited)
Exchange difference on translation of foreign
operations (9,684) (8,152)
--------- -----------
Net income recognised in equity (9,684) (8,152)
Profit/(loss) for period 46,976 (218,242)
--------- -----------
Total recognised income and expense for the period 37,292 (226,394)
--------- -----------
Attributable to:
Equity holders of T.F. & J.H. Braime (Holdings) P.L.C. 37,292 (226,394)
--------- -----------
Consolidated Balance Sheet at 30th June 2007
30th June 2007 30th June 2006 31st December
2006
# # #
(unaudited) (unaudited)
Assets
Non-current assets
Property, plant and
equipment 689,748 703,696 733,481
--------- --------- ---------
Total non-current assets 689,748 703,696 733,481
--------- --------- ---------
Current assets
Inventories 2,521,209 2,220,453 2,197,922
Trade and other payables 3,001,803 2,280,117 2,611,737
Cash and cash equivalents 1,429,619 1,441,823 1,629,317
--------- --------- ---------
Total current assets 6,952,631 5,942,393 6,438,976
--------- --------- ---------
Total assets 7,642,379 6,646,089 7,172,457
--------- --------- ---------
Liabilities
Current liabilities
Bank overdraft 1,294,875 1,603,102 1,346,114
Trade and other payables 2,346,046 1,094,099 1,846,792
Other financial liabilities 182,166 178,008 182,292
Corporation tax liability 20,132 - 33,063
--------- --------- ---------
Total current liabilities 3,843,219 2,875,209 3,408,261
--------- --------- ---------
Non-current liabilities
Financial liabilities 327,539 326,199 348,867
Employee benefits 31,000 118,000 12,000
--------- --------- ---------
Total non-current
liabilities 358,539 444,199 360,867
--------- --------- ---------
Total liabilities 4,201,758 3,319,408 3,769,128
--------- --------- ---------
Total net assets 3,440,621 3,326,681 3,403,329
--------- --------- ---------
Capital and reserves attributable
to equity holders of the parent
company
Share capital 360,000 360,000 360,000
Capital reserve 77,319 77,319 77,319
Foreign exchange reserve (36,233) 669 (26,549)
Retained earnings 3,039,535 2,888,693 2,992,559
--------- --------- ---------
Total equity 3,440,621 3,326,681 3,403,329
--------- --------- ---------
Consolidated Cash Flow Statement for the six months ended 30thJune 2007
2007 2007 2006 2006
# # # #
(unaudited) (unaudited) (unaudited) (unaudited)
Operating
activities
Net profit/
(loss) from
ordinary
activities 46,976 (218,242)
Adjustments for:
Depreciation 88,493 66,305
Grants amortised (828) (828)
Foreign exchange
losses (9,810) (7,314)
Investment (151,996) (147,204)
income
Interest expense 162,913 140,514
Income tax expense 20,132 -
---------- ----------
Operating profit
before changes
in working capital
and provisions 108,904 51,473
Increase in
trade and
other
receivables (390,066) (447,138)
(Increase)/
decrease in
inventories (323,287) 121,910
Increase in
trade and
other payables 499,254 232,154
Decrease in
provisions
and employee
benefits 34,000 41,000
----------- -----------
(180,099) (52,074)
----------- ----------
Cash generated
from operations (24,219) (218,843)
Income taxes paid (33,063) (33,033)
Investing
activities
Purchases of
plant, machinery
and motor vehicles (53,682) (41,294)
Sale of plant,
machinery and
motor vehicles 8,922 9,160
Interest
received 27,996 23,204
----------- -----------
(16,764) (8,930)
Financing
activities
Repayment of
hire purchase (20,500) (20,499)
creditors
Interest paid (53,913) (37,514)
---------- ----------
(74,413) (58,013)
---------- ----------
Decrease in cash
and cash
equivalents (148,459) (318,819)
Cash and cash
equivalents
(including
overdrafts),
beginning
of period 283,203 157,540
---------- ----------
Cash and cash
equivalents
(including
overdrafts), end
of period 134,744 (161,279)
---------- -----------
31st August 2007
For further information please contact:
T.F. & J.H. Braime (Holdings) P.L.C.
David Brown - Financial Director
0113 245 7491
W. H. Ireland Limited
Richard Lindley
0113 394 6628
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR ILFLETIILVID
1 Year Braime Chart |
1 Month Braime Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
