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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Casdon | LSE:CDY | London | Ordinary Share | GB0001795573 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 40.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCDY
RNS Number : 7588K
Casdon PLC
02 August 2013
Casdon plc (the 'Company')
Preliminary Announcement of results for the year ended 30(th) April 2013
Chairman's Statement
Revenue for the 12 months ended 30(th) April 2013 of GBP6,490,088 (2012: GBP5,266,073) is a significant improvement on the previous year. The Company has managed to secure a high level of new business from the US in the last financial year which has made up a large proportion of the increase in sales.
The gross profit GBP2,393,278, (2012: GBP1,882,726) has been achieved in spite of forsaking low margin sales, a tendency easily fallen into with certain FOB business, in pursuit of the vanity of turnover.
The company's application of exclusive product development for certain overseas customers has provided a profit before tax of GBP549,084 (2012: GBP215,344).
The balance sheet remains strong supporting the company with net assets of GBP3,669,538 (2012: GBP3,335,181).
Current Trading
The UK trade fairs in January and February 2013 were busy with customers showing little sign of despondency, and there was a marked increase in the value of orders taken compared to last year.
At a more recent trade fair, where discounts were offered for orders placed there and then, we were delighted to see an increase of 40% on the previous year. This is significant, as these orders for both immediate and forward deliveries, from small to medium independent UK retailers, give an indication of where certain sectors are "bucking the trend".
Our international trade fairs in Hong Kong, Nuernberg and New York, which appeared to be generally quieter in the halls, were nevertheless lucrative for Casdon, and I will be better able to report on by 'how much' in my interim report.
Future Prospects
The company is now recruiting for administrative staff for the processing of overseas orders at our Blackpool head office. This is the first time we have recruited office staff for eight years, and the more sustainable our overseas business becomes, the prospect of a permanently manned Hong Kong showroom could be on the horizon.
The decision to move production of some of our products to Indonesia is soon to be crystalised. This factory is a new build, and is now operational. A personal visit to this factory is planned for the last week in June 2013. Quality audit certificates from several accredited audit institutions are now to hand, the most important of which, is that of I.C.T.I (International Council of Toy Industries). This audits' task is many fold, and the most important being that of interviewing the factory staff with regard to their personal treatment, the work environment, and to make sure there is no child labour used.
Final Dividend
In conclusion the company's current plans involve the refurbishment of the company's warehouse property, which will involve the replacement of old asbestos corrugated roofing.
The directors therefore recommend no increase in the final dividend paid, which will remain at 0.75p per share (2012 0.75p), payable on 25th September 2013 to shareholders on the register on 16th August 2013.
Paul Cassidy
Chairman
For further information please contact;
Casdon plc
Paul Cassidy Tel 01253 766411 Zeus Capital Limited Tel 0161 831 1512
Nick Cowles
Ross Andrews
Profit & Loss Account
Company Number 565383 For the year ended 30 April 2013 2013 2012 Notes GBP GBP Turnover 2 6,490,088 5,266,073 Cost of Sales (4,096,810) (3,383,347) GROSS PROFIT 2,393,278 1,882,726 Warehouse & Distribution costs (1,582,045) (1,287,500) Administrative expenses (408,237) (496,216) Other operating income 150,209 130,914 OPERATING PROFIT 3 553,205 229,924 Interest receivable and similar income 5 284 299 Interest payable and similar charges 6 (4,405) (14,879) PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 549,084 215,344 Tax on Profit on ordinary activities 10 (131,862) (42,971) ------------ ---------------------- PROFIT FOR THE FINANCIAL YEAR 417,222 172,373 ------------ ---------------------- EARNINGS PER SHARE - BASIC AND DILUTED 11 7.55 3.12 ============ ======================
Balance Sheet
Company Number 565383 At 30 April 2013 2013 2012 Notes GBP GBP GBP GBP FIXED ASSETS Tangible assets 12 2,281,936 2,336,190 2,281,936 2,336,190 CURRENT ASSETS Stocks 13 888,474 754,198 Debtors 14 547,300 525,927 Cash at bank and in hand 766,696 381,375 2,202,470 1,661,500 CREDITORS (amounts falling due within one year) 15 (789,512) (631,587) NET CURRENT ASSETS 1,412,958 1,029,913 TOTAL ASSETS LESS CURRENT LIABILITIES 3,694,894 3,366,103 CREDITORS (amounts falling due after more than one year) 16 - (3,266) PROVISIONS FOR LIABILITIES 17 (25,356) (27,656) NET ASSETS 3,669,538 3,335,181 CAPITAL AND RESERVES Called up share capital 18 552,435 552,435 Share premium account 19 43,522 43,522 Revaluation reserve 19 579,014 594,039 Profit and loss account 19 2,494,567 2,145,185 EQUITY SHAREHOLDERS' FUNDS 21 3,669,538 3,335,181
Cash Flow Statement
For the year ended 30 April 2013 2013 2012 Notes GBP GBP GBP GBP NET CASH INFLOW FROM OPERATING ACTIVITIES 22 619,855 740,456 RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest received 284 299 Interest paid (4,405) (14,561) Interest element of finance lease rental payments - (318) (4,121) (14,580) TAXATION Corporation tax (44,232) 33,642 CAPITAL EXPENDITURE Payments to acquire tangible fixed assets (90,700) (65,782) Receipts from sales of tangible fixed assets 1,600 - ----------------- --------- (89,100) (65,782) EQUITY DIVIDENDS PAID (82,865) (82,865) NET CASH INFLOW BEFORE FINANCING 399,537 610,871 FINANCING Unsecured loan repayments 22 (14,216) (16,536) Capital element of finance lease rental payments 22 - (6,776) NET CASH (OUTFLOW) FROM FINANCING (14,216) (23,312) INCREASE IN CASH 22 385,321 587,559
Notes to the Accounts
1. Basis of Preparation.
The financial information set out above does not comprise the Company's Statutory Accounts.
Statutory accounts for the previous financial year ended 30(th) April 2012 have been delivered to the Registrar of Companies. The auditor's report on those accounts was unqualified, and did not contain any statements under section 498 (2) to (4) of the Companies Act 2006. The auditors reported on the accounts for the year ended 30(th) April 2013, but such accounts have not yet been delivered to the Registrar of Companies.
2. Earnings Per Share
Earnings per share are calculated on the profit for the financial year of GBP417,222 (2012 GBP172,373) and on the weighted average number of shares in issue during the year of 5,524,350 (2011 5,524,350).
3. Dividends
The Directors recommend the payment of a final dividend of 0.75p per share (2012 0.75p).
4. Copies of Reports
Copies of the Report and Accounts will be posted to shareholders shortly.
Copies of this announcement will be available on the Company's website at www.Casdon.com and, for a period of one month, from the Company's offices at Cornford Road, Blackpool, Lancashire FY4 4QW.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR EADPFEENDEFF
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