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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pacific Global Holdings Plc | LSE:PCH | London | Ordinary Share | GB00BKXP5L71 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 1.50 | 2.50 | 2.00 | 2.00 | 2.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Business Services, Nec | 0 | -102k | -0.0013 | -15.38 | 1.58M |
From Jan 2020 to Jan 2025
TIDMPCH
RNS Number : 7305Y
Pochin's PLC
29 January 2014
Pochin's PLC (the "Group")
Half year report for the six months to 30 November 2013
Chairman's Statement
Results
The results for the 6 months ended 30 November 2013 show a profit after tax of GBP0.29m (2012: GBP0.27m which included a loss on discontinued activities of GBP0.23m). No interim dividend is being proposed by the Board.
Construction
During the period the division maintained turnover and achieved profitability in line with that for the comparable period last year. Immediately after the period end activity levels fell temporarily but they have now returned to normal following the commencement of replacement work. Forward orders remain at a satisfactory level.
Property
Occupancy levels in the division's investment portfolio remain high. The division continues to pursue non-speculative development opportunities and in this connection work is progressing on the development of the Altrincham Hospital scheme for the Central Manchester University Hospital Foundation Trust.
Group
At the period end the Group experienced higher than normal borrowings albeit within the agreed bank facilities. These have since returned to more usual levels, partly as a result of receipts from completed construction contracts, and partly from two property disposals which were achieved before the end of the calendar year.
Stock Exchange Announcements
On 9 December 2013 the Group announced that it had received an approach from James Nicholson and members of the Cedric Pochin concert party which may or may not lead to an offer for the Group.
On 6 January 2014, it was announced that the period had been extended during which the party making the approach is required either to declare a firm intention to make an offer or to announce that it does not intend to do so. The deadline was extended to 3 February and therefore shareholders may expect a further announcement on or before that date.
Richard Fildes
Chairman
Enquiries:
Pochin's PLC
John Moss, Chief Executive 01606 833 333
Nigel Rawlings, Finance Director
Consolidated income statement
Hot Features
Premium
6 months 6 months 12 months
Notes ended ended 30 ended
30 November November 31 May
2013 2012 2013
GBP'000 GBP'000 GBP'000
--------------------------------------- ------------------------------ ---------- ----------
Revenue 6 38,368 43,305 77,958
Cost of sales (36,134) (41,028) (76,116)
------------------------------ ---------- ----------
Gross profit 2,234 2,277 1,842
Operating expenses (3,080) (2,714) (6,343)
Other operating income 1,592 1,512 3,144
Losses on revaluation of investment
properties - - (4,457)
------------------------------ ---------- ----------
Operating profit/(loss) 746 1,075 (5,814)
Share of profit after
taxation in joint ventures 23 23 45
Finance income 530 536 1,074
Finance cost (1,013) (1,032) (2,023)
------------------------------ ---------- ----------
Profit/(loss) before taxation
from continuing operations
6 286 602 (6,718)
Taxation - (100) (177)
------------------------------ ---------- ----------
Profit/(loss) for the period
from continuing operations 286 502 (6,895)
Discontinued operations
Loss for the period from discontinued
operations - (234) (236)
Profit/(loss) for the period 286 268 (7,131)
------------------------------ ---------- ----------
Attributable to:
Equity holders of the company 271 253 (7,163)
Non controlling interests 15 15 32
Profit/(loss) for the period 286 268 (7,131)
------------------------------ ---------- ----------
Basic and diluted earnings/(loss)
per share
from continuing operations
9 1.3p 2.4p (34.0p)
from discontinued operations
9 - (1.2p) (1.2p)
------------------------------ ---------- ----------
Total 1.3p 1.2p (35.2p)
------------------------------ ---------- ----------
Consolidated statement of comprehensive income
6 months 6 months 12 months
ended 30 ended ended
November 30 November 31 May
2013 2012 2013
GBP'000 GBP'000 GBP'000
----------------------------------- ---------- ------------- ----------
Profit/(loss) for the period 286 268 (7,131)
Other comprehensive income
Actuarial gains and losses (151) (2) 733
Deferred taxation on actuarial
gains and losses - - (244)
Realisation of revaluation - (38) -
reserve on disposal
Revaluation of property,
plant and equipment - - (60)
----------
Total comprehensive income/(loss)
for the period 135 228 (6,702)
---------- ------------- ----------
Attributable to non controlling
interests 15 15 32
Attributable to equity holders
of the company 120 213 (6,734)
---------- ------------- ----------
135 228 (6,702)
---------- ------------- ----------
Consolidated statement of changes in equity
Total
attributable
to equity Non-controlling
Share Own Revaluation Retained holders Interest
capital shares reserve earnings of the GBP'000 Total
GBP'000 GBP'000 GBP'000 GBP'000 company GBP'000
GBP'000
------------------ ---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 1 June 2013 5,200 (745) 2,167 5,635 12,257 201 12,458
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Equity dividend - - - - - (17) (17)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Transactions with
owners - - - - - (17) (17)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Profit for the
period - - - 271 271 15 286
Other
comprehensive
income
Actuarial losses - - - (151) (151) - (151)
Total
comprehensive
income for the
period - - - 120 120 15 135
---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 30 November
2013 5,200 (745) 2,167 5,755 12,377 199 12,576
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Total
attributable Non-controlling
Share Own Revaluation Retained to owners Interest
capital shares reserve earnings of the GBP'000 Total
GBP'000 GBP'000 GBP'000 GBP'000 parent GBP'000
GBP'000
------------------ ---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 1 June 2012 5,200 (745) 2,245 12,304 19,004 197 19,201
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Equity dividend - - - - - (14) (14)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Transactions with
owners - - - - - (14) (14)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Profit for the
period - - - 253 253 15 268
Other
comprehensive
income
Actuarial losses - - - (2) (2) - (2)
Realisation of
revaluation
reserve on
disposal - - (38) - (38) - (38)
Total
comprehensive
income for the
period - - (38) 251 213 15 228
---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 30 November
2012 5,200 (745) 2,207 12,555 19,217 198 19,415
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Total
attributable Non-controlling
Share Own Revaluation Retained to owners Interest
capital shares reserve earnings of the GBP'000 Total
GBP'000 GBP'000 GBP'000 GBP'000 parent GBP'000
GBP'000
------------------ ---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 1 June 2012 5,200 (745) 2,245 12,304 19,004 197 19,201
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Share based
payments - - - (13) (13) - (13)
Equity dividend - - - - - (28) (28)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Transactions with
owners - - - (13) (13) (28) (41)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Loss for the
period - - - (7,163) (7,163) 32 (7,131)
Other
comprehensive
income
Actuarial gains - - - 733 733 - 733
Deferred tax on
actuarial
gains - - - (244) (244) - (244)
Revaluation of
property,
plant &
equipment - - (60) - (60) - (60)
Realisation of
revaluation
reserve on
disposal - - (38) 38 - - -
Realisation of
revaluation
reserve on
reclassification - - 20 (20) - - -
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Total
comprehensive
income for the
period - - (78) (6,656) (6,734) 32 (6,702)
---------- ---------- -------------- ----------- -------------- ----------------- ----------
At 31 May 2013 5,200 (745) 2,167 5,635 12,257 201 12,458
---------- ---------- -------------- ----------- -------------- ----------------- ----------
Consolidated balance sheet
As at As at As at
Notes 30 November 30 November 31 May
2013 2012 2013
GBP'000 GBP'000 GBP'000
---------------------------------- -------- ------------- ------------- ---------
Non current assets
Property, plant
and equipment 1,499 1,583 1,541
Investment properties 29,198 33,655 29,198
Investments
Joint ventures 2,370 3,838 2,370
Deferred tax assets 1,939 1,939 1,939
------------- ------------- ---------
Total non current
assets 35,006 41,015 35,048
------------- ------------- ---------
Current assets
Inventories 18,925 16,846 17,136
Trade and other
receivables 10,569 13,070 11,250
Corporation tax - 184 -
recoverable
Cash and cash equivalents 796 1,978 1,790
------------- ------------- ---------
Total current assets 30,290 32,078 30,176
------------- ------------- ---------
Total assets 65,296 73,093 65,224
------------- ------------- ---------
Current liabilities
Trade and other
payables 21,540 22,389 21,490
Corporation tax - - 41
Bank overdrafts 5,173 - 2,355
Bank loans 20,547 754 22,357
Obligations under
finance leases 30 29 29
Total current liabilities 47,290 23,172 46,272
------------- ------------- ---------
Liabilities classified - 1,456 -
as held-for-sale
------------- ------------- ---------
Net current (liabilities)/assets (17,000) 7,450 (16,096)
------------- ------------- ---------
Non current liabilities
Bank loans 1,070 23,140 1,104
Obligations under
finance leases 11 41 26
Retirement benefit
obligation 2,348 2,980 2,214
Other payables 893 889 891
Provisions 1,108 2,000 2,259
------------- ------------- ---------
Total non current
liabilities 5,430 29,050 6,494
------------- ------------- ---------
Total liabilities 52,720 53,678 52,766
------------- ------------- ---------
Net assets 12,576 19,415 12,458
------------- ------------- ---------
Equity
Share capital 5,200 5,200 5,200
Own shares (745) (745) (745)
Revaluation reserve 2,167 2,207 2,167
Retained earnings 5,755 12,555 5,635
------------- ------------- ---------
Total shareholders'
equity 12,377 19,217 12,257
Non-controlling
interest 199 198 201
------------- ------------- ---------
Total equity 6 12,576 19,415 12,458
------------- ------------- ---------
Consolidated cash flow statement
6 months 6 months 12 months
Notes ended ended ended
30 November 30 November 31 May
2013 2012 2013
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------------------ -------- -------- -------- --------- -------- --------
Net cash from operating
activities
Profit/(loss) for the period 286 268 (7,131)
Loss for the period from
discontinued operations - 234 236
Income tax - 100 177
Finance income (530) (536) (1,074)
Finance cost 1,013 1,032 2,023
Share of profit in joint
ventures (23) (23) (45)
Depreciation charge 42 49 92
Credit in respect of share
based payments - - (13)
Profit on sale of property,
plant and equipment - (2) (4)
Losses on revaluation of
investment properties - - 4,457
Losses on revaluation of
property, plant and equipment - - 60
Provision against investments
in joint ventures - 149 1,534
Income from joint ventures 23 23 45
-------- -------- -------- --------- -------- --------
Operating profit before
changes in working capital 811 1,294 357
(Increase)/decrease in inventories (1,789) 3,165 2,875
Decrease/(increase) in receivables 681 (985) 835
(Decrease)/increase in payables (1,196) 2,603 (307)
Cash flows used in operating
activities (discontinued)
10 - (559) 74
-------- -------- -------- --------- -------- --------
(1,493) 5,518 3,834
Interest paid (437) (465) (888)
Income taxes (paid)/received (41) 46 14
-------- -------- -------- --------- -------- --------
Net cash (used in)/from
operating activities (1,971) 5,099 2,960
Investing activities
Interest received 3 4 9
Purchase of property, plant
and equipment - (9) (70)
Proceeds from sale of property,
plant and equipment - 3 5
Increase in interest in
joint ventures - (355) (272)
Net cash used in investing
activities 3 (357) (328)
Financing activities
Proceeds from new loans - 18,862 985
Repayment of loans (1,844) (2,619) (3,052)
Net cash (used in)/from
financing activities (1,844) 16,243 (2,067)
Net (decrease)/increase
in cash and cash equivalents (3,812) 20,985 565
Cash and cash equivalents
at beginning of period (565) (19,007) (1,130)
Cash and cash equivalents
at end of period (continuing) (4,377) 1,978 (565)
-------- -------- -------- --------- -------- --------
1. The interim report was approved by the board on 28 January 2014.
2. General information and basis of preparation
The interim financial information has been prepared applying the accounting policies and presentation that were applied in the preparation of the Group's published consolidated financial statements for the year ended 31 May 2013. They do not include all of the information required in the annual financial statements in accordance with IFRS, and should be read in conjunction with the consolidated financial statements of the Group for the year ended 31 May 2013.
3. Significant accounting policies
The interim financial statements have been prepared in accordance with the accounting policies adopted in the Group's last annual financial statements for the year ended 31 May 2013.
4. Estimates
When preparing the interim financial statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results.
The judgements, estimates and assumptions applied in the interim financial statements, including the key sources of estimation and uncertainty were the same as those applied in the Group's last annual financial statements for the year ended 31 May 2013.
5. Going concern
After making enquiries, which include a detailed review of the Group's working capital requirements and an assessment of the likelihood of obtaining continuing support from the Group's bankers and renewal of facilities in the forthcoming year, the directors have a reasonable expectation that the Group has adequate resources to continue in operation for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
6. Segmental information
The Group is organised into two operating business segments based on the different services provided by each division: Construction and Property development and investment. The concrete pumping segment was previously classified as discontinued.
As operations are carried out entirely within the UK, there is no further consideration of information on geographical areas in determining the Group's operating segments. The measurement policies used for segment reporting reflect those used for internal reporting and for the Group's financial statements. Inter-segmental pricing is done on an arms length open market basis.
6 months ended 30 November 2013
Property Total
development Group continuing Discontinued
Construction & investment operations operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue
External sales 36,161 2,207 - 38,368 -
Inter-segment sales 1,661 - - 1,661 -
Eliminations (1,661) - - (1,661) -
Total revenue 36,161 2,207 - 38,368 -
Segment result
Operating profit/(loss) 313 1,059 (626) 746 -
Share of profit after
taxation in joint ventures - 23 - 23 -
Net finance cost (38) (443) (2) (483) -
Profit/(loss) before
taxation 275 639 (628) 286 -
-------------- ------------- ------------
Taxation - -
Profit for the period 286 -
----------- --------------
Within the construction segment, external sales of GBP8,771,000 (24%) arise from customer A GBP4,324,000 (12%) and customer B GBP4,447,000 (12%) that individually account for more than 10 per cent of the entity's revenues. These are also considered to be major customers.
Property Elimination Total
development of inter-segment continuing Discontinued
Construction & investment items operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Asset and liabilities
Segment assets 27,795 122,744 (87,613) 62,926 -
Investment in equity
accounted joint ventures - 2,370 - 2,370 -
Total assets 27,795 125,114 (87,613) 65,296 -
Segment liabilities (21,645) (118,688) 87,613 (52,720) -
Net assets 6,150 6,426 - 12,576 -
-------------- -------------- ------------------ ------------ --------------
Other information
Depreciation 33 9 - 42 -
6 months ended 30 November 2012
Property Total
development Group continuing Discontinued
Construction & investment operations operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue
External sales 38,311 4,994 - 43,305 1,392
Inter-segment sales 932 - - 932 -
Eliminations (932) - - (932) -
Total revenue 38,311 4,994 - 43,305 1,392
Segment result
Operating profit/(loss) 334 1,340 (599) 1,075 (221)
Share of profit after
taxation in joint ventures - 23 - 23 -
Net finance cost (29) (464) (3) (496) (13)
Profit/(loss) before
taxation 305 899 (602) 602 (234)
-------------- -------------- ------------ ------------ --------------
Taxation (100) -
Profit/(loss) for the
period 502 (234)
------------ --------------
Within the construction segment, external sales of GBP15,513,000 (40%) arise from customer A GBP11,658,000 (30%) and customer B GBP3,855,000 (10%) that individually account for more than 10 per cent of the entity's revenues. These are also considered to be major customers.
Property Elimination Total
development of inter-segment continuing Discontinued
Construction & investment items operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Assets and liabilities
Segment assets 27,230 111,407 (69,382) 69,255 -
Investment in equity
accounted joint ventures - 3,838 - 3,838 -
-------------- ------------- ----------------- ----------- --------------
Total assets 27,230 115,245 (69,382) 73,093 -
Segment liabilities (21,994) (99,610) 69,382 (52,222) (1,456)
-------------- ------------- ----------------- ----------- --------------
Net assets/(liabilities) 5,236 15,635 - 20,871 (1,456)
Other information
Capital expenditure 9 - - 9 -
Depreciation 33 16 - 49 -
Provision against investment
in joint ventures and
available for sale financial
assets - 149 - 149 -
12 months ended 31 May 2013
Property Total
development Group continuing Discontinued
Construction & investment Operations operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue
External sales 71,430 6,528 - 77,958 1,392
Inter-segment sales 2,293 - - 2,293 -
Eliminations (2,293) - - (2,293) -
Total revenue 71,430 6,528 - 77,958 1,392
Segment result
Operating profit/(loss) 32 (4,841) (1,005) (5,814) (45)
Loss on remeasurement
and cost of disposal - - - - (191)
Share of profit after
taxation in joint ventures - 45 - 45 -
Net finance cost - (949) - (949) -
Profit/(loss) before
taxation 32 (5,745) (1,005) (6,718) (236)
-------------- ------------- ------------
Taxation (177) -
Loss for the year (6,895) (236)
----------- --------------
Within the construction segment, external sales of GBP21,888,000 (31%) arise from customer A that individually account for more than 10 per cent of the entity's revenues. This one customer is also considered to be a major customer.
Property Elimination Total
development of inter-segment continuing Discontinued
Construction & investment items operations operations
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Assets and liabilities
Segment assets 26,190 121,619 (84,955) 62,854 -
Investment in equity
accounted joint ventures
and associates - 2,370 - 2,370 -
Total assets 26,190 123,989 (84,955) 65,224 -
Segment liabilities (20,496) (117,225) 84,955 (52,766) -
------------ ------------- ----------------- ----------- ------------
Net assets 5,694 6,764 - 12,458 -
Other information
Capital expenditure 70 - - 70 -
Depreciation 67 25 - 92 -
Provision against investment
in joint ventures and
available for sale financial
assets - 1,534 - 1,534 -
Impairment of inventories - 2,210 - 2,210 -
7. Taxation
There is no taxation charge in the period due to the utilisation of tax losses brought forward.
8. Dividends
The directors are not proposing an interim dividend in respect of the financial period ending 30 November 2013.
9. Earnings per share
The calculation of earnings per share (basic and diluted) is based on Group profit after taxation and minority interests of GBP271,000 (2012: GBP253,000 loss) and the 20,800,000 ordinary shares of 25p in issue at 30 November 2013 and 30 November 2012. The number of shares in the calculation has been reduced at 30 November 2013 for the 440,500 (2012: 440,500) shares held in the Employee Share Trust. The assumed conversion of dilutive options has no impact on the number of shares and so diluted earnings per share is equal to basic earnings per share.
6 months ended 6 months ended 12 months ended
30 November 30 November 31 May 2013
2013 2012
Weighted Weighted
average average Weighted
no. no. average
of Per of Per no. Per
Earnings shares share Earnings shares share Earnings of share
GBP'000 '000 p GBP'000 '000 p GBP'000 shares p
'000
Continuing operations
Basic EPS 271 20,360 1.3 487 20,360 2.4 (6,927) 20,360 (34.0)
Effect of - - - - - - - - -
share
options
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
Diluted EPS 271 20,360 1.3 487 20,360 2.4 (6,927) 20,360 (34.0)
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
6 months ended 6 months ended 12 months ended
30 November 30 November 31 May 2013
2013 2012
Weighted Weighted Weighted
average average average
no. Per no. Per no. Per
Earnings of share Earnings of share Earnings of share
GBP'000 shares p GBP'000 shares p GBP'000 shares p
'000 '000 '000
Discontinued operations
Basic EPS - - - (234) 20,360 (1.2) (236) 20,360 (1.2)
Effect of - - - - - - - - -
share
options
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
Diluted EPS - - - (234) 20,360 (1.2) (236) 20,360 (1.2)
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
6 months ended 6 months ended 12 months ended
30 November 30 November 31 May 2013
2013 2012
Weighted Weighted
average average Weighted
no. no. average
of Per of Per no. Per
Earnings shares share Earnings shares share Earnings of share
GBP'000 '000 p GBP'000 '000 p GBP'000 shares p
'000
Total
operations
Basic EPS 271 20,360 1.3 253 20,360 1.2 (7,163) 20,360 (35.2)
Effect of - - - - - - - - -
share
options
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
Diluted EPS 271 20,360 1.3 253 20,360 1.2 (7,163) 20,360 (35.2)
---------- ---------- -------- ---------- ---------- -------- ---------- ----------- --------
10. Disposal group classified as held for sale
Pochin Concrete Pumping Limited has been treated as a discontinued operation and the business was sold as a going concern on 31 July 2012. The results of this operation are summarised below:
All below amounts are attributable to owners of the parent.
6 months 6 months 12 months
ended ended ended
30 November 30 November 31 May
2013 2012 2013
GBP'000 GBP'000 GBP'000
---------------------------------- --------------- ------------- ----------
Revenue - 1,392 1,392
Cost of sales - (1,182) (1,182)
-------------- ------------- ----------
Gross profit - 210 210
Operating expenses - (242) (242)
Operating loss - (32) (32)
Finance cost - (13) (13)
-------------- ------------- ----------
Loss from discontinued
operations before taxation - (45) (45)
Tax - - -
-------------- ------------- ----------
Net operating result from
discontinued operations - (45) (45)
Remeasurement and disposal
of assets held for sale
Loss on remeasurement and
cost of disposal - (189) (191)
-------------- ------------- ----------
Loss for the period from
discontinued operations - (234) (236)
-------------- ------------- ----------
Net cash flows from discontinued
operations
Net cash flow from operating
activities - (559) 74
- (559) 74
-------------- ------------- ----------
Net cash flow from discontinued
operating activities
Loss for the period - (234) (236)
Finance cost - 13 13
Operating cash flow before
movement in working capital - (221) (223)
Decrease in receivables - 1,965 1,965
Decrease in payables - (2,290) (1,655)
Net interest paid - (13) (13)
- (559) 74
-------------- ------------- ----------
Liabilities of disposal
group classified as held
for sale
Trade and other payables - 351 -
Provisions - 1,105 -
-------------- ------------- ----------
- 1,456 -
-------------- ------------- ----------
11. Provisions
Provisions include other claims and provisions that arise from the normal course of contractual relationships.
12. The comparative figures for the year ended 31 May 2013 do not constitute statutory accounts for the purposes prescribed by the Companies Act 2006. A copy of the statutory accounts for the year ended 31 May 2013, which were prepared under International Financial Reporting Standards and on which the auditors gave an unqualified report in accordance with the Companies Act 2006, have been filed with the Registrar of Companies.
13. This interim report is available on the Group's website (www.pochins.plc.uk).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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