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Name | Symbol | Market | Type |
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Citi Fun 24 | LSE:BD25 | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:1602W Ashpol PLC 23 December 2005 Group income statement (unaudited) Half year to Period ended 28 September 24 March Restated Note 2005 2005 #'000 #'000 Gross property income 2,483 3,537 Property outgoings (260) (133) Net Property income 2,223 3,404 Administrative costs (279) (299) 1,944 3,105 Profit on disposals of investment properties 32,031 4,488 Profit on disposal of subsidiary undertaking - 1,507 Other income - - Operating Profit 33,975 9,100 Finance income 746 487 Finance costs (4,516) (2,723) Profit before taxation 30,205 6,864 Income tax 1 - (265) Profit for the period 30,205 6,599 Basic earnings per share 40.94p 8.94p All amounts relate to continuing activities. All recognised gains and losses are included in the profit and loss account. Changes in equity during the period are the profit for the period. Group balance sheet (unaudited) Half year to Period ended 28 September 24 March Restated 2005 2005 #'000 #'000 Assets Non-current assets Investment properties 2 100,882 94,675 Current assets Cash and cash equivalents 41,026 23,234 Other current assets 18,122 12,032 59,148 35,266 Total assets 160,030 129,941 Liabilities Current liabilities Bank loans and overdrafts - - Other current liabilities (7,413) (7,293) Income tax (293) (961) (7,706) (8,254) Non-current liabilities 10 3/4 % 1st Mortgage Debenture Stock (75,000) (75,000) 10% Cumulative Preference shares of #1 (1,062) - 5 3/4% Convertible Preference shares of #1 (31,815) - (107,877) (75,000) Total liabilities (115,583) (83,254) 44,447 46,687 Net assets Equity Share capital 15,565 48,010 Share premium 7,069 7,069 Other reserves 42 42 Retained Profit/(loss) 21,771 (8,434) Total shareholders' funds 44,447 46,687 Group cash flow statement (unaudited) Half year to Period ended 28 September 24 March Restated 2005 2005 #'000 #'000 Operating activities Operating profit 33,975 9,100 Profit on disposal of investment properties (32,031) (4,488) Profit on disposal of subsidiary undertaking - (1,507) Movement in receivables (5,658) 9,094 Movement in payables 728 (2,090) Income Taxes (1,276) (640) (4,262) 9,469 Investment activities Proceeds from sale of property 25,854 6,569 Interest received 746 352 26,600 6,921 Financing activities Interest paid (4,516) (722) (4,516) (722) Increase in cash and cash equivalents in the period 17,792 (15,668) Notes to the interim announcement Basis of preparation The results for the six months ended 28th September 2005 include those for the holding company and all of its subsidiary undertakings. The results are prepared in accordance with those International Financial Reporting Standards (IFRS) which are expected to be endorsed by the European Union and to apply to the March 2006 full year results. The comparative period results, previously reported under UK GAAP, have been restated on this basis. In preparing these results, the exemption allowed by IFRS1, First-time Adoption of IFRS, has been taken not to restate the comparative balance sheet for IAS39, Financial Instruments: Recognition and Measurement. This statement does not comprise statutory accounts as defined in Section 240 of the Companies Act 1985. The results for the half year ended 28 September 2005 have not been audited. The audit report on the results to 24 March 2005 (covering the period from 23 November 2004 to that date), as originally prepared under UK GAAP was qualified as a result of non-compliance with SSAP 19. The audit report also contained a qualification relating to the presentation of certain payments as a dividend. The statutory accounts for the period ended 24 March 2005 have been filed at the Registrar of Companies. Comparison to UK GAAP 1. Balance sheet reconciliations of equity shareholders' funds, at 24 November 2004 and 24 March 2005, from the amounts previously reported UK GAAP to IFRS did not identify any differences in shareholders' funds. 2. Reconciliation of reported profit or losses after tax from UK GAAP to IFRS for the period ended 24 March 2005 did not identify any differences. 1. Taxation on profit on ordinary activities Half year to Period ended 28 September 24 March Restated 2005 2005 #'000 #'000 Current tax - current tax on profit for the period - (164) Current tax - adjustment to prior year items - (54) Deferred tax - origination of timing differences - (47) - (265) 2. Fixed assets - investment properties 28 September 24 March 2005 2005 #'000 #'000 Balance at 24 March 2005 94,675 115,523 Additions 74,437 2,484 Disposals (68,230) (23,332) Balance at 28 September 2005 100,882 94,675 3. Net debt Half year to Period ended 28 September 24 March Restated 2005 2005 #'000 #'000 Repayable as follows: After more than five years (75,000) (75,000) Cash and cash equivalents 41,026 23,234 Net debt (33,974) (51,766) 4. Company Information Directors K D McGrath L Noe M P Sheppard I Smith Secretary A M Jacobs Registered Office 5 Wigmore Street London W1U 1PB Registered Number 104394 This information is provided by RNS The company news service from the London Stock Exchange END IR KXLBLELBZFBE
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