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Name | Symbol | Market | Type |
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Ft Fdn | LSE:FDN | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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8.00 | 0.36% | 2,248.50 | 2,239.50 | 2,257.50 | 2,257.25 | 2,234.00 | 2,241.00 | 492 | 16:24:59 |
RNS Number:6531J Fieldens PLC 27 April 2000 Interim Results Six Months Ended 31 December 1999 In the six months ended 31 December 1999 the Company made an unaudited profit after taxation of #13,000 on turnover of #1,740,331 (six months ended 31 December 1998: unaudited profit after taxation #8,463 on turnover of #1,646,359). The effect on gross profit of a small increase in sales was more than offset by reduced margins. However, careful spending on distribution costs and administrative expenses enabled a small increase in operating profit to be reported for the first half. Past improvements to stock and working capital have been maintained and are reflected in a cash balance of #537,043 at the end of December. There has been no let up in the widely reported gloom surrounding the agricultural sector and the low level of new tractor sales last year is adversely affecting demand for the wheel and tyre combinations that are the mainstay of our Spring season sales. A further improvement in the annual profits of our trading business this year therefore seems unlikely. We have explored a number of potential acquisitions since I last reported to shareholders. We are however determined that our first acquisition should set us on a successful strategic track and continue actively to seek the right opportunity. D C Bonham 27 April 2000 Enquiries: Andrew Arends Fieldens plc 020 7581 5528 Graham Shore Shore Capital and Corporate Limited 020 7408 4090 FIELDENS PLC PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 31 DECEMBER 1999 Six months ended Six months ended Year ended 31 December 1999 31 December 1998 30 June 1999 (Unaudited) (Unaudited) (Audited) # # # Sales 1,740,331 1,646,359 3,841,158 Cost of sales 1,434,247 1,329,059 3,082,308 --------- --------- --------- Gross profit 306,084 317,300 758,850 --------- --------- --------- Distribution costs 124,847 141,366 293,822 Administrative expenses 168,478 165,982 357,665 --------- --------- --------- Operating profit 12,759 9,952 107,363 Other interest receivable and similar income 6,656 10,687 16,428 Interest payable and similar charges (59) (2,732) (3,386) --------- ---------- --------- Profit on ordinary activities before taxation 19,356 17,907 120,405 Taxation (6,356) (9,444) (35,923) --------- ---------- --------- Profit on ordinary activities after taxation 13,000 8,463 84,482 Dividends 0 0 (25) --------- ---------- --------- Retained profit for the period 13,000 8,463 84,457 ========= ========== ========= Earnings per share 0.26p 0.17p 1.69p Number of shares in issue 5,000,000 5,000,000 5,000,000 The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than the profit for the period. FIELDENS PLC BALANCE SHEET AS AT 31 DECEMBER 1999 31 December 1999 31 December 1998 30 June 1999 (Unaudited) (Unaudited) (Audited) # # # # # # Fixed Assets 563,979 571,203 577,861 Current assets Stock 712,612 681,262 750,641 Debtors 243,069 296,147 633,446 Cash at bank and in hand 537,043 367,789 327,130 --------- --------- ---------- 1,492,724 1,345,198 1,711,217 Creditors: amounts falling due within one year (516,623) (465,240) (761,854) Net current assets 976,101 879,958 949,363 --------- --------- --------- Total assets less current liabilities 1,540,080 1,451,161 1,527,224 Creditors: amounts falling due after more than one year 0 0 0 Provision for liabilities and charges (1,073) (1,148) (1,217) ---------- ---------- ---------- 1,539,007 1,450,013 1,526,007 ========= ========== ========== Capital and reserves Called up share capital 252,500 252,500 252,500 Capital redemption reserve 47,500 47,500 47,500 Share premium account 799,195 799,195 799,195 Profit and loss account 439,812 350,818 426,812 Shareholders' funds (including non-equity --------- --------- --------- interests) 1,539,007 1,450,013 1,526,007 ========= ========= ========= NOTES: 1. The interim results to 31 December 1999, which are unaudited, have been prepared in accordance with the accounting policies adopted in the accounts for the year ended 30 June 1999. 2. The information set out in the interim report does not constitute annual accounts within the meaning of Section 240 of the Companies Act 1985. The results for the year to 30 June 1999 are extracts from the published accounts for that period which were audited and reported on without qualification and have been delivered to the Registrar of Companies. 3. Earnings per share is calculated by dividing the profit/(loss) for the period by the 5,000,000 5p ordinary shares in issue at each period end. 4. Copies of this announcement are available from the company at Starhouse, Onehouse, Stowmarket, Suffolk IP14 3EL END IR DGGZDNVFGGZM
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