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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Thorntons | LSE:THT | London | Ordinary Share | GB0008901935 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 142.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7768G Thorntons PLC 7 March 2000 PART II THORNTONS PLC Announcement of Interim Results for the 28 weeks ended 8 January 2000 Consolidated Profit and Loss Account Unaudited results for 28 weeks ended 8 January 2000 For 28 weeks ended 8 January 2000 Result Continuing Notes before Exceptional operations exceptionals Items 2000 #'000 #'000 #'000 Turnover 2 94,332 - 94,332 Cost of sales - (41,912) - (41,912) ------------------------------------- Gross profit - 52,420 - 52,420 ------------------------------------- Selling and - distribution costs (34,371) 828 (33,543) Administration - expenses (5,771) - (5,771) Other operating - income 108 - 108 ----------------------------------- Operating profit 2 - continuing operations 12,386 828 13,214 ----------------------------------- Exceptional items Loss on disposal of Belperm facilily - - (1,055) (1,055) ------------------------------------ Release of European provision provision - discontinued - - - - ----------------------------------- - (1,055) (1,055) ------------------------------------ Profit on ordinary - activities before interest 12,386 (227) 12,159 Interest receivable and similar income - 118 - 118 Interest payable and similar charges 3 (2,427) - (2,427) ------------------------------------- Profit on ordinary ordinary activities before taxation 10,077 (227) 9,850 Taxation 4 (2,166) (248) (2,414) ------------------------------------ Profit on ordinary activities after taxation - 7,911 (475) 7,436 Dividends - (1,283) - (1,283) ------------------------------------ Retained profit for the period - 6,628 (475) 6,153 ----------------------------------- Basic earnings 5 per ordinary share (pence) 12.00 (0.72) 11.28 ----------------------------------- Fully diluted earnings per ordinary share (pence) 5 11.92 (0.72) 11.20 ----------------------------------- Dividend per ordinary share (pence) 1.95 - 1.95 ----------------------------------- For 28 weeks ended 9 January 1999 Contin- Results Exceptional items uing before Onerous oper- except- Reorganisation leases ations 1999 notes tionals charges (restated)(restated) Turnover 2 87,760 - - 87,760 Cost of sales - (39,321) (402) - (39,723) --------------------------------------------- Gross profit - 48,439 (402) - 48,037 -------------------------------------------- Selling and distribution costs - (28,950) (233) 160 (29,023) Administration expenses - (6,492) (713) - (7,205) Other operating - income 175 - - 175 ------------------------------------------ Operating profit 2 - continuing operations 13,172 (1,348) 160 11,984 ------------------------------------------ Exceptional items Loss on disposal of Belper facility - - - - Release of European provision provision - discontinued - 803 - 803 ---------------------------------------- - 803 - 803 ---------------------------------------- Profit on ordinary - activities before interest 13,172 (545) 160 12,787 Interest receivable and similar income - 89 - - 89 Interest payable 3 and similar charges (1,133) - - (1,133) Profit on ordinary - activities before taxation 12,128 (545) 160 11,743 Taxation 4 (2,922) 415 (48) (2,555) ----------------------------------------- Profit on ordinary activities after 9,206 (130) 112 9,188 taxation Dividends - (1,263) - - (1,263) ------------------------------------------ Retained profit for the period 7,943 (130) 112 7,925 ----------------------------------------- Basic earnings 5 per ordinary 14.05 (0.20) 0.17 14.02 share (pence) ----------------------------------------- Fully diluted earnngs per ordinary share (pence) 5 13.96 (0.20) 0.17 13.93 ------------------------------------------ Dividend per ordinary share (pence) 1.95 - - 1.95 ------------------------------------------ Consolidated Profit and Loss Account (continued) Unaudited results for 28 weeks ended 8 January 2000 For 52 weeks ended 26 June 1999 Cont- Results Exceptional Items inuing before Reorganisation Onerous oper- ations exceptionals charges leases 1999 #'000 #'000 #'000 #'000 Turnover 141,267 - - 41,267 Cost of sales (66,802) (402) - (67,204) ------------------------------------------- Gross profit 74,465 (402) - 74,063 -------------------------------------------- Selling and distribution costs (51,869) (233) 572 (51,530) Administration expenses (9,843) (713) - (10,556) Other operating income 332 - - 332 ------------------------------------------- Operating profit - continuing operations 13,085 (1,348) 572 12,309 ------------------------------------------- Exceptional items - - - - Release of European provision - discontinued - 803 - 803 -------------------------------------------- - 803 - 803 ------------------------------------------- Profit on ordinary activities before interest 13,085 (545) 572 13,112 Interest receivable and similar income 74 - - 74 Interest payable (2,646) - - (2,646) and similar charges --------------------------------------------- Profit on ordinary activities before taxation 10,513 (545) 572 10,540 Taxation (768) 415 (172) (525) --------------------------------------------- Profit on ordinary activities after taxation 9,745 (130) 400 10,015 Dividends (4,465) - - (4,465) --------------------------------------------- Retained profit for the period 5,280 (130) 400 5,550 --------------------------------------------- -------------------------------------------- Basic earnings per ordinary share (pence) 14.84 (0.20) 0.61 15.25 --------------------------------------------- --------------------------------------------- Fully diluted earnings per ordinary share (pence) 14.74 (0.20) 0.61 15.15 --------------------------------------------- Dividend per ordinary share (pence) 6.80 - - 6.80 -------------------------------------------- Consolidated Balance Sheet As at 26 June 1999 As at 8 As at 9 As at 26 January January 1999 June 1999 2000 (restated) #'000 #'000 #'000 Fixed assets Tangible assets 104,897 104,459 109,157 Investments - purchase 290 305 290 of own shares ------------------------------------ 105,187 104,764 109,447 ------------------------------------- Current assets Stocks 13,170 13,784 11,728 Debtors: amounts falling due after one year 351 1,652 452 Debtors: amounts falling due within one year 11,147 11,141 9,605 Cash at bank and in hand 2,651 5,140 2,941 ------------------------------------- 27,319 31,717 24,726 ------------------------------------- Bank loans, overdrafts and finance leases (978) (3,204) (11,966) falling due within one year Other creditors falling due within one year (31,405) (33,735) (25,647) ------------------------------------- (32,383) (36,939) (37,613) -------------------------------------- Net current liabilities (5,064) (5,222) (12,887) -------------------------------------- Total assets less current liabilities 100,123 99,542 96,560 Bank loans and finance leases falling due after one year (41,188) (40,998) (41,704) Other creditors falling due after one year (1,711) (2,339) (2,114) Restructuring provisions (782) (2,357) (1,480) Onerous lease provision net of sublet receivables (2,122) (3,681) (3,114) ------------------------------------- Net assets 54,320 50,167 48,148 ------------------------------------- Capital and reserves Share capital 6,645 6,617 6,644 Share premium 12,250 11,903 12,232 Revaluation reserve 505 887 729 Profit and loss account 34,920 30,760 28,543 ----------------------------------- Equity shareholders' 54,320 50,167 48,148 funds ----------------------------------- Net debt 39,515 39,062 50,729 Gearing 72.7% 77.8% 105.4% Net assets per share 81.75p 75.82p 72.47p ------------------------------------- Consolidated Statement of Total Recognised Gains and Losses For 28 For 28 weeks For 52 weeks ended weeks ended 9 January ended 8 January 1999 26 June 2000 (restated) 1999 #'000 #'000 #'000 Profit after tax attributable to shareholders 7,436 9,188 10,015 - as reported Revaluation surplus realised 224 - 158 on property disposals ----------------------------- Total recognised gains and losses in the period - as reported 7,660 9,188 10,173 Prior period adjustments - - (2,767) (2,767) FRS12 ------------------------------ Total recognised gains and losses since last Annual 7,660 6,421 7,406 Report ----------------------------- Historical cost results There was no material difference between the result as disclosed in the Consolidated Profit and Loss Account and the result on an unmodified historical cost basis. Movements in shareholders' funds For 28 weeks For 28 weeks ended For 52 weeks ended 9 January ended 8 January 1999 26 June 1999 2000 (restated) #'000 #'000 #'000 #'000 #'000 #'000 Profit after tax attributable to 7,436 9,188 10,01 shareholders Dividends (1,283) (1,263) (4,465) ----------------------------------------- Retained profit attributable to 6,153 7,925 5,550 shareholders New share capital issued 19 - 569 ------------------------------------------ 6,119 Net increase in 6,172 8,138 shareholders' funds Opening shareholders' funds as reported 48,148 44,796 44,796 Prior period adjustments - FRS12 - (2,767) (2,767) ------------------------------------------ Opening shareholders' funds - as restated 48,148 42,029 42,029 ----------------------------------------- Closing shareholders' funds 54,320 50,167 48,148 ----------------------------------------- Consolidated Cash Flow Statement Unaudited results for 28 weeks ended 8 January 2000 For 28 weeks For 28 weeks For 52 weeks ended ended ended 8 January 2000 9 January 26 June 1999 1999 #'000 #'000 #'000 #'000 #'000 #'000 Notes Cash inflow from operating 6 22,570 24,505 29,693 activities Returns on investments and servicing of finance (2,375) (2,071) (3,978) Taxation (8) (622) (2,872) Capital expenditure and financial (5,608) (26,690) (37,066) investment Equity dividends paid (3,198) (3,013) (4,297) ------------------------------------------ Cash inflow/(outflow) before use of liquid resources and financing 11,381 (7,891) (18,520) Management of (152) 9,525 (11,596) liquid resources Financing - Issue 19 213 569 of shares Financing - (decrease)/ increase in debt (11,772) 2,431 10,529 -------------------------------------------- (11,753) 2,644 11,098 -------------------------------------------- (Decrease) / increase in cash in (524) 4,278 4,174 the period Reconciliation of net cash flow to movement in net debt (Decrease) / increase in cash in (524) 4,278 (4,174) the period Cash flow from decrease/ (increase) in debt 11,772 (2,431) (10,529) Cash flow from increase/ (decrease) in liquid resources 152 (9,525) (11,596) --------------------------------------------- Change in net debt resulting from cashflow 11,400 (7,678) (17,951) Inception of finance leases (425) (1,326) (2,696) Termination of finance leases 157 - - Translation difference 82 47 23 ----------------------------------------------- Movement in net debt in the period 11,214 (8,957) (20,624) Net debt at beginning of period (50,729) (30,105) (30,105) ---------------------------------------------- Net debt at end of period (39,515) (39,062) (50,729) ----------------------------------------------- Analysis of Net Debt Group: For the 28 weeks Other ended 8 January 2000 At 26 Cash non- At 8 June 1999 Flow cash Exchange January changes Movement 2000 #'000 #'000 #'000 #'000 #'000 Cash at bank and in hand 2,941 (524) - 82 2,499 Overdrafts - - - - - ---------------------------------------- 2,941 (524) - 82 2,499 Debt due within one year (11,100) 11,100 - - - Debt due after one year (39,574) - - - (39,574) Finance leases (2,996) 672 (268) - (2,592) --------------------------------------- (53,670) 11,772 (268) - (42,166) --------------------------------------- Cash on deposit - 152 - - 152 --------------------------------------- Total net debt (50,729) 11,400 (268) 82 (39,515) -------------------------------------- Other At At non- 9 27 June Cash cash Exchange January Group: For the 28 weeks 1998 Flow changes Movement 1999 ended 9 January 1999 #'000 #'000 #'000 #'000 #'000 Cash at bank and in hand 385 2,707 - - 3,092 Overdrafts (1,618) 1,571 - 47 - --------------------------------------- (1,233) 4,278 - 47 3,092 Debt due within one year - (2,700) - - (2,700) Debt due within one year (39,574) - - - (39,574) Finance leases (871) 269 (1,326) - (1,928) ---------------------------------------- (40,445) (2,431) (1,326) - (44,202) ---------------------------------------- Cash on deposit 11,573 (9,525) - - 2,048 ---------------------------------------- Total net debt (30,105) (7,678) (1,326) 47 (39,062) ---------------------------------------- MORE TO FOLLOW IRCZGGGFGVNGGZZ
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