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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Northacre | LSE:NTA | London | Ordinary Share | GB0006877939 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 95.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
The Group has improved its cash position further and as at 28th February 2014 had cash and cash equivalents of GBP21.2m (2013: GBP9.2m). The principal source of cash (GBP22.3m) was the further dividends received from The Lancasters Development. In December 2013 the Group raised an additional GBP12.5m cash by issuing new shares and through a cashbox acquisition. This improved cash position enabled the Group to invest in two new projects, 1 Palace Street and 33 Thurloe Square. As at 28th February 2014, Northacre PLC had provided a total of GBP10.3m in cash for these two projects, representing an equity investment of GBP8.8m in respect of 1 Palace Street and GBP1.5m through a combination of equity investment and shareholder loan in respect of 33 Thurloe Square.
In addition it permitted the Group to pay a special dividend to shareholders of 40p per share in July 2013.
Looking forward, the Group will focus on securing new projects and will increase both its development income and investment income. Our strengthened financial position means we are better placed than in recent years to take advantage of investment opportunities.
Kasia Maciborska-Singh
Group Financial Controller
Consolidated Income Statement
For the year ended 28(th) February 2014
Note 2014 2013 GBP GBP Group Group revenue 3 2,955,797 3,521,402 Cost of sales (1,294,225) (2,235,379) ------------ ------------ Gross profit 1,661,572 1,286,023 Administrative expenses (4,868,726) (8,943,929) Group loss from operations (3,207,154) (7,657,906) Investment revenue 4 15,063,052 26,577,553 Profit on disposal of available for sale financial asset 5 111,213 - Other gains 6 336,264 - Finance costs 7 (100) (2,117,427) Profit for the year before taxation 8 12,303,275 16,802,220 Taxation 11 (102,993) 4,832,506 ------------ ------------ Profit for the year attributable to equity holders of the Company 12,200,282 21,634,726 ============ ============ Profit per ordinary share Basic - Continuing and total operations 23 39.51p 80.96p Diluted - Continuing and total operations 23 39.51p 80.96p Company Profit/(loss) for the year attributable to equity holders of the Company 44,703,358 (5,074,317) =========== ============
Consolidated Statement of Comprehensive Income
For the year ended 28(th) February 2014
Note 2014 2013 GBP GBP Group Profit for the period attributable to equity holders of the Company 12,200,282 21,634,726 ------------- ------------- Other comprehensive loss: Changes in fair value of available for sale financial assets 15(a) (15,000,000) (18,662,028) ------------- ------------- Total comprehensive (loss)/income for the period (2,799,718) 2,972,698 ============= ============= Company Profit/(loss) for the period attributable to equity holders of the Company 44,703,358 (5,074,317) ----------- ------------ Other comprehensive income - - ----------- ------------ Total comprehensive profit/(loss) for the period 12 44,703,358 (5,074,317) =========== ============
Consolidated Statement of Financial Position
As at 28(th) February 2014
Note 2014 2013 GBP GBP Non-current assets Goodwill 13 8,007,417 8,007,417 Property, plant and equipment 14 822,739 919,229 Available for sale financial assets 15(a) 8,824,659 22,148,579 ----------- ----------- 17,654,815 31,075,225 ----------- ----------- Current assets Inventories 17 168,559 1,378 Trade and other receivables 18 6,667,711 4,585,083 Cash and cash equivalents 21,239,909 9,194,508 ----------- ----------- 28,076,179 13,780,969 ----------- ----------- Total assets 45,730,994 44,856,194 Current liabilities Trade and other payables 19 6,615,535 4,741,075 Borrowings, including lease finance - - ----------- ----------- 6,615,535 4,741,075 ----------- ----------- Non-current liabilities Borrowings, including lease finance - - - - ----------- ----------- Total liabilities 6,615,535 4,741,075 ----------- ----------- Equity Share capital 24 1,058,388 668,091 Share premium account 24 22,565,286 18,552,361 Merger reserve 24 8,086,293 - Retained earnings 7,405,492 20,894,667 ----------- ----------- Total equity 39,115,459 40,115,119 ----------- ----------- Total equity and liabilities 45,730,994 44,856,194 Approved by the Board on 14(th) July 2014 N. Barattieri di San Pietro
Director
Company registration no. 03442280
Company Statement of Financial Position
As at 28(th) February 2014
Note 2014 2013 GBP GBP Non-current assets Property, plant and equipment 14 823,633 937,237 Investments 15(c) 16,830,968 8,007,421 --------------- ---------------- 17,654,601 8,944,658 --------------- ---------------- Current assets Trade and other receivables 18 10,110,093 3,218,933 Cash and cash equivalents 18,808,382 9,019,416 --------------- ---------------- 28,918,475 12,238,349 --------------- ---------------- Total assets 46,573,076 21,183,007 Current liabilities Trade and other payables 19 9,780,661 30,894,008 Borrowings, including lease finance - - --------------- ---------------- 9,780,661 30,894,008 --------------- ---------------- Non-current liabilities Borrowings, including lease finance - - - - --------------- ---------------- Total liabilities 9,780,661 30,894,008 --------------- ---------------- Equity Share capital 24 1,058,388 668,091 Share premium account 24 22,565,286 18,552,361 Merger reserve 24 8,086,293 - Retained earnings 5,082,448 (28,931,453) --------------- ---------------- Total equity 36,792,415 (9,711,001) --------------- ---------------- Total equity and liabilities 46,573,076 21,183,007 Approved by the Board on 14(th) July 2014 N. Barattieri di San Pietro
Director
Company registration no. 03442280
Consolidated and Company Statements of Cash Flows
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