Final Results -5-

and in accordance with applicable accounting standards. 
 
 
2. Basis of consolidation 
The group results consolidate the accounts of Romag Holdings plc and all its 
subsidiary undertakings drawn up to 30 September 2009. 
 
 
3. Other operating income 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |          2009 |  |         2008 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |     Unaudited |  |      Audited | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |       GBP'000 |  |      GBP'000 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|       Profit on disposal of          |        |        |         2,722 |  |            - | 
|       derivatives no longer          |        |        |               |  |              | 
|       required for currency hedging  |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Government grants released           |        |        |            57 |  |           57 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |         2,779 |  |           57 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
 
 
4. Tax 
 
 
(a) Tax on profit on ordinary activities 
The tax charge for the year is made up as follows: 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |          2009 |  |         2008 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |     Unaudited |  |      Audited | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |       GBP'000 |  |      GBP'000 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Current income tax                   |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| UK corporation tax                   |        |        |            27 |  |          705 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Total current income tax             |        |        |            27 |  |          705 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Deferred tax                         |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Origination and reversal of timing   |        |        |           292 |  |          359 | 
| differences                          |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|       Impact of changes in tax rates |        |        |             - |  |          140 | 
|       and legislation                |        |        |               |  |              | 
|       on opening liability           |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Total deferred tax                   |        |        |           292 |  |          499 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
|                                      |        |        |               |  |              | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
| Tax charge in the income statement   |        |        |           319 |  |        1,204 | 
+--------------------------------------+--------+--------+---------------+--+--------------+ 
 
 
 
4. Tax (continued) 
 
 
(b) Reconciliation of total tax charge 
The tax expense in the income statement for the year is higher than the standard 
rate of corporation tax in the UK of 28% (2008: 29%). The difference is 
reconciled below. 
 
 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |         2009 |  |         2008 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |    Unaudited |  |      Audited | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |      GBP'000 |  |      GBP'000 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Profit on ordinary activities before taxation   |    |        1,076 |  |        3,734 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|       Accounting profit multiplied by UK        |    |          301 |  |        1,083 | 
|       standard rate of                          |    |              |  |              | 
|       corporation tax of 28% (2008: 29%)        |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Expenses not deductible for tax purposes        |    |           28 |  |           32 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Depreciation on non-qualifying items            |    |           19 |  |           19 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Research and development enhanced tax reliefs   |    |          (9) |  |         (35) | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|       Differences in tax rates due to           |    |         (20) |  |         (33) | 
|       availability of small                     |    |              |  |              | 
|       companies rate                            |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Tax (over)/underprovided in previous years      |    |            - |  |         (14) | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|       Increase in deferred tax resulting from   |    |            - |  |          152 | 
|       change in legislation                     |    |              |  |              | 
|       on industrial buildings                   |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
|                                                 |    |              |  |              | 
+-------------------------------------------------+----+--------------+--+--------------+ 
| Total tax charge                                |    |          319 |  |        1,204 | 
+-------------------------------------------------+----+--------------+--+--------------+ 
 
 
5. Earnings per share 
The calculation of basic earnings per share is based on earnings of GBP757,000 
(2008: GBP2,530,000) and 
50,019,813 (2008: 50,019,813) ordinary shares, being the weighted average number 
of ordinary shares in issue during the year. 
 
 
The diluted earnings per share is based on the same earnings and on 50,062,843 
(2008: 50,040,899) ordinary shares, the difference from the basic calculation 
being the inclusion of a weighted average of 43,030 (2008: 21,086) dilutive 
ordinary shares under share option schemes. 
 
 
6. Dividends 
The directors do not recommend payment of a final dividend. 
 
 
In order to comply with the requirements of International Accounting Standard 
10, Events after the balance sheet date, dividends are included in the 
accounting period in which the dividend is approved for payment. 
 
 
Dividends were: 
+----------------------------------------------------+--------------+---------------+ 
|                                                    |         2009 |          2008 | 
+----------------------------------------------------+--------------+---------------+ 
|                                                    |    Unaudited |       Audited | 
+----------------------------------------------------+--------------+---------------+ 
|                                                    |      GBP'000 |       GBP'000 | 
+----------------------------------------------------+--------------+---------------+ 
|                                                    |              |               | 
+----------------------------------------------------+--------------+---------------+ 
| Final dividend 0.75p per share paid on 29 February |            - |           375 |