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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Strategic Ret. | LSE:SRR | London | Ordinary Share | GB0033995894 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7113U Strategic Retail PLC 25 November 2005 STRATEGIC RETAIL Plc (the "Company") INTERIM REPORT 2005 Chairman's statement On 30 August 2005 the Company acquired 9 'Texstyle World Home' stores. These stores are all based in Scotland, with six situated around Glasgow and three in the far North. The stores have been successfully integrated into the Group's management structure based in Cheshire. The Group has opened a new Fads (Trading) Limited store at Blairgowrie and successfully re-sited to better placed stores at Rutherglen, Bradford and Arbroath. The Group now trades out of 80 stores. Results for the 26 weeks ended 27 August 2005 The company produced a loss before taxation for the period, of #47,000 on a turnover of #9,274,000. This reflects the poor state of retail on the high street and DIY retailing in particular. The fall in consumer spending has lead to a fall in like for like sales, particularly acute with regard to wall-coverings, and corresponding falls in margin and net profit. Outlook The acquisition of the Texstyle World business is a significant step for the Company and has increased our retail space by 130,000 square feet. As retail conditions worsened throughout the period under review, we have concentrated on maintaining a strong balance sheet and cash position. Whilst we have seen a small improvement in trading since the period end, we believe that the way forward continues to be through selective acquisitions. I W Currie Chairman 25 November 2005 Profit and Loss Account (Unaudited) (Unaudited) Audited 26 wks ended 26 wks ended 52 wks ended 27th Aug 2005 28th Aug 2004 26th Feb 2005 #000 #000 #000 NOTE Turnover 9,274 7,050 16,201 Operating (Loss)/Profit (47) 65 118 Interest Receivable - 2 10 (Loss)/Profit on Ordinary Activities before Taxation (47) 67 128 Taxation - - 51 Retained (Deficit)/ Profit for the Period (47) 67 179 (Loss)/Earnings per Ordinary Share 3 (0.30p) 0.50p 1.26p The Company has no other recognised gains and losses other than as shown above and therefore no separate statement of total recognised gains or losses has been presented. Consolidated Cash flow Statement for the 26 week period ended 27 August 2005 (Unaudited) (Unaudited) Audited 26 weeks ended 26 weeks ended 52 weeks ended 27.08.2005 28.02.2004 26.02.2005 #000 #000 #000 Cash flow from operating activities (76) (159) (340) Net cash flow for Returns on Investments and - - 10 Servicing finance Capital Expenditure (152) (78) (156) Acquisitions and disposals Purchase of subsidiary - - (654) Net cash acquired with subsidiary - - 118 Net cash outflow for acquisitions and disposals - - (536) Cash Outflow before financing (228) (237) (1,022) Financing Issue of ordinary share capital - - 1,138 Share issue expenses - - (32) Net cash inflow from financing - - 1,106 Increase/(decrease) in cash for the period (228) (237) 84 Reconciliation of Operating Profit to net cash Outflow from operating activities Operating (loss)/profit (47) 67 118 Depreciation 133 60 138 Amortisation of goodwill - - 8 Loss on disposal - - 25 Decrease/(increase) in stock 37 (160) (454) Decrease in debtors 166 21 82 Decrease in creditors (365) (147) (257) Cash flow from Operating activities (76) (159) (340) Analysis of net funds at 26.02.2005 cash flow at 27.08.2005 Cash in hand and at bank 1,183 (228) 955 Summarised Balance Sheet At 27.08.05 At 28.08.04 At 26.02.05 (Unaudited) (Unaudited) (Audited) #000 #000 #000 FIXED ASSETS Intangible assets 368 - 368 Tangible assets 628 467 610 996 467 978 CURRENT ASSETS Stocks 3,258 2,401 3,295 Debtors 713 500 879 Cash at bank and in hand 955 862 1,183 4,926 3,763 5,357 CREDITORS - amounts falling due within 1 year (2,981) (2,459) (3,346) Net current assets 1,945 1,305 2,011 NET ASSETS 2,941 1,771 2,989 CAPITAL & RESERVES Called up share capital 80 65 80 Share premium account 2,729 1,638 2,729 Profit & loss account 132 68 180 2,941 1,771 2,989 NOTES TO THE FINANCIAL INFORMATION 1. The interim results are unaudited and do not comprise full accounts within the meaning of Section 240 of the Companies Act 1985. The results for the year ended 26th February 2005 are in abbreviated form and have been extracted from the published accounts filed with the Registrar of Companies. These were audited and reported upon without qualification by Baker Tilly and did not contain a statement under Section 237(2) or (3) of the Companies Act 1985. 2. No interim dividend is being proposed or paid. 3. The earnings per share has been calculated on the 15,928,222 shares in issue. 4. The accounts have been despatched to shareholders today, 25 November, 2005. Copies are available upon request, free of charge, at the Company's registered office: 3 Ralli Courts, West Riverside, Manchester, M3 5FT. For further information, please contact: Ian Currie, Strategic Retail plc Tel: 0161 831 1512 David Youngman, WH Ireland Limited Tel: 0161 832 2174 This information is provided by RNS The company news service from the London Stock Exchange END IR ZELFLEFBEFBD
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