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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ensor Hldgs | LSE:ESR | London | Ordinary Share | GB0003186409 | 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% | 55.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4164T Ensor Holdings PLC 19 December 2003 ENSOR HOLDINGS PLC ("Ensor") INTERIM RESULTS 19 December 2003 Chairman's Statement - Sales up 12% - Profit before tax up 30% - Interim dividend up 17% Results The improvement in sales and profits has continued during the half-year ending 30 September 2003. The pre-tax profit was #539,000 (2002 : #414,000) on sales of #11.5m (2002 : #10.3m). This is a very satisfactory increase in profit of 30%, though the tax charge is higher at #160,000 (2002 : #104,000). The interest charges were contained at #75,000 (2002 : #88,000). This result is more creditworthy as it is after much higher insurance premiums, increased payment into our Pension Fund and also the imposition of higher National Insurance contributions. Trading All our companies contributed to the improved profits despite strong competition in the construction materials sector. The improvements have been achieved through the management of costs, particularly helped by increased purchasing through our administrative office in China and we are endeavouring to enlarge our product portfolio, which can be obtained at advantageous terms. The collection of cash is a major feature of our management time and we are constantly vigilant in the collection of debt. The level of our borrowing has been improved during the period but more can be done on this to improve our cash position. Prospects We feel sufficiently confident in our present trading to raise our interim dividend from 0.3p per share to 0.35p per share, an increase of some 17%. The dividend will be payable on 30 January 2004 to shareholders on the Register on 5 January 2004. As always, we thank all Ensor employees for their continued help in achieving this result. K A Harrison TD Chairman 19 December 2003 Group Profit and Loss Account for the six months ended 30 September 2003 Unaudited Unaudited Audited 6 months 6 months 12 months 30/9/03 30/9/02 31/3/03 #'000 #'000 #'000 Turnover Continuing operations 11,517 10,286 20,433 ----------- ----------- ----------- Operating profit Continuing operations 667 549 1,014 Amortisation of goodwill (53) (47) (98) ----------- ----------- ----------- Profit on ordinary activities before interest 614 502 916 Interest payable (75) (88) (170) ----------- ----------- ----------- Profit before taxation 539 414 746 Taxation (160) (104) (226) ----------- ----------- ----------- Profit after taxation 379 310 520 Dividends (103) (87) (219) ----------- ----------- ----------- Retained profit for the period 276 223 301 ====== ====== ====== Earnings per share Basic and diluted 1.3p 1.1p 1.8p ====== ====== ====== Dividends per share 0.35p 0.30p 0.75p ====== ====== ====== Group Balance Sheet at 30 September 2003 Unaudited Unaudited Audited 30/9/03 30/9/02 31/3/03 #'000 #'000 #'000 Fixed assets Goodwill 1,822 1,967 1,875 Tangible assets 4,220 4,107 4,277 ----------- ----------- ----------- 6,042 6,074 6,152 ----------- ----------- ----------- Current assets Stocks 3,530 3,339 3,490 Debtors 5,281 4,740 4,803 ----------- ----------- ----------- 8,811 8,079 8,293 Creditors falling due within one year (7,187) (6,670) (6,960) ----------- ----------- ----------- Net current assets 1,624 1,409 1,333 ----------- ----------- ----------- Total assets less current liabilities 7,666 7,483 7,485 Creditors falling due after one year (606) (802) (726) ----------- ----------- ----------- 7,060 6,681 6,759 ====== ====== ====== Capital and reserves Called up share capital 2,940 2,917 2,917 Share premium account 470 468 468 Revaluation reserve 950 960 953 Profit and loss account 2,700 2,336 2,421 ----------- ----------- ----------- Equity shareholders' funds 7,060 6,681 6,759 ====== ====== ====== Group Cash Flow Statement for the six months ended 30 September 2003 Unaudited Unaudited Audited 6 months 6 months 12 months 30/9/03 30/9/02 31/3/03 #'000 #'000 #'000 Operating profit 614 502 916 Depreciation and amortisation 272 245 500 Profit on disposal of tangible fixed assets (5) (47) (49) Movement in working capital (425) (440) (679) Net cash inflow from operating activities 456 260 688 Net cash outflow from servicing of finance (75) (87) (161) Net cash inflow/(outflow) from payment of taxation - 8 (91) Net cash outflow from capital expenditure (157) (218) (524) and financial investment Purchase of subsidiary undertakings - (2,087) (2,087) Cash acquired with subsidiary undertaking - 248 248 Net cash outflow from acquisitions and disposals - (1,839) (1,839) Equity dividends paid (132) (117) (204) ----------- ----------- ----------- Net cash inflow/(outflow) before use of liquid 92 (1,993) (2,131) resources and financing Repayment of loan notes - (345) (345) Repayment of term loans (100) (75) (175) Capital element of finance lease payments (10) (19) (42) New term loan advanced - 1,000 1,000 Issue of ordinary share capital 25 - - Net cash (outflow)/inflow from financing (85) 561 438 ----------- ----------- ----------- Increase/(decrease) in cash in the period 7 (1,432) (1,693) ====== ====== ====== Unaudited Unaudited Audited 30/9/03 30/9/02 31/3/03 #'000 #'000 #'000 Analysis of net debt Bank overdraft 2,521 2,267 2,528 Debt repayable by instalments: - due within 1 year 228 237 229 - due after more than 1 year 578 802 687 ----------- ----------- ----------- 3,327 3,306 3,444 ====== ====== ====== Notes 1. The unaudited results for the six months have been prepared on a basis consistent with the accounting policies disclosed in the Group's 2003 accounts and do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. 2. The figures for the year ended 31 March 2003 have been extracted from the statutory accounts which have been delivered to the Registrar of Companies and received an unqualified audit report. 3. The tax charge is based on the estimated tax rate for the year to 31 March 2004. 4. The calculation of earnings per share for the period is based on the profit after taxation divided by the weighted average number of ordinary shares in issue, being 29,311,779 (6 months to 30 September 2002 - 29,165,659 and year ended 31 March 2003 - 29,165,659). 5. Copies of these interim results will be sent to Shareholders. Enquiries: Ensor Holdings plc Tony Coyne, Chief Executive 0161 945 5953 Brown, Shipley & Co. Limited Philip Johnson 0161 214 6540 This information is provided by RNS The company news service from the London Stock Exchange END IR FFSFFASDSESE
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