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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Total Produce Plc | LSE:TOT | London | Ordinary Share | IE00B1HDWM43 | ORD EUR0.01 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 165.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Payments of contingent consideration (412) (1,867) (2,296) Payments of deferred consideration (806) - - Acquisition of property, plant & equipment (5,508) (5,621) (13,392) Expenditure on computer software (720) (243) (1,265) Research and development expenditure capitalised (86) (80) (165) Proceeds from disposal of property, plant & equipment 361 157 609 Loans advanced to joint ventures & associates (101) - (210) Dividends received from joint ventures & associates 4,254 3,652 4,056 Proceeds from disposal of joint ventures & associates - 21,677 21,677 Government grants received 110 131 153 -------------- -------------- --------------- Net cash flows from investing activities (13,227) 4,870 (5,481) ============== ============== =============== Financing activities Drawdown of borrowings 8,526 - 11,048 Repayment of borrowings (4,153) (18,100) (47,577) Decrease/(increase) in bank deposits 40 3,799 (941) Decrease in cash held in escrow - 11,360 11,360 Capital element of finance lease repayments (713) (655) (1,315) Proceeds from the issue of share capital 621 - - Dividends paid to equity holders of the parent (5,495) (4,988) (6,999) Acquisition of non-controlling interests (981) - (422) Capital contribution by non-controlling interests 55 - 15 Dividends paid to non-controlling interests (3,705) (3,421) (5,579) -------------- -------------- --------------- Net cash flows from financing activities (5,805) (12,005) (40,410) ============== ============== =============== Net (decrease)/increase in cash, cash equivalents & overdrafts (50,910) (26,066) 13,584 Cash, cash equivalents and & overdrafts at start of period 101,178 88,960 88,960 Net foreign exchange difference (179) (758) (1,366) -------------- -------------- --------------- Cash, cash equivalents & overdrafts at end of the period (Note 12) 50,089 62,136 101,178 ============== ============== =============== Total Produce plc Condensed Summary Group Reconciliation of Net Debt for the half year ended 30 June 2014 (Unaudited) (Unaudited) (Audited) 6 months 6 months Year ended to to 30 June 2014 30 June 31 Dec 2013 2013 EUR'000 EUR'000 EUR'000 Net (decrease)/increase in cash, cash equivalents & overdrafts (50,910) (26,066) 13,584 Repayment of borrowings 4,153 18,100 47,577 Drawdown of borrowings (8,526) - (11,048) (Decrease)/increase in bank deposits (40) (3,799) 941 Decrease in cash held in escrow - (11,360) (11,360) Borrowings arising on acquisition (1,620) - - Finance leases arising on acquisition (1,766) - - Capital element of finance lease repayments 713 655 1,315 Other movements on finance leases (151) (761) (1,187) Foreign exchange movement 84 2,153 2,218 -------------- ------------ ------------- Movement in net debt (58,063) (21,078) 42,040 Net debt at beginning of the period (10,987) (53,027) (53,027) -------------- ------------ ------------- Net debt at end of the period (Note 12) (69,050) (74,105) (10,987) ============== ============ ============= Total Produce plc Notes to the Interim Results for the half year ended 30 June 2014 1. Basis of preparation The condensed consolidated interim financial statements of Total Produce plc as at and for the six months ended 30 June 2014 have been prepared in accordance with the recognition and measurement requirements of IAS 34 Interim Financial Reporting, as adopted by the EU. The accounting policies and methods of computation adopted in the preparation of the financial information are consistent with those set out in the Group's consolidated financial statements for the year ended 31 December 2013, with the exception of those disclosed below, which were prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. The interim financial information for both the six months ended 30 June 2014 and the comparative six months ended 30 June 2013 is unaudited. The financial information for the year ended 31 December 2013 represents an abbreviated version of the Group's statutory financial statements for that year. Those statutory financial statements contained an unqualified audit report and have been filed with the Registrar of Companies. The preparation of interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. In preparing these condensed consolidated interim financial statements, the significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statements as at and for the year ended 31 December 2013. The financial information is presented in Euro, rounded to the nearest thousand. These condensed consolidated interim financial statements were approved by the Board of Directors on 1 September 2014. Changes in accounting policy The following are the new standards and amendments that are effective for the Group's financial year ending on 31 December 2014 and that had no significant impact on the results and financial position of the Group for the period ended 30 June 2014. * IFRS 10: Consolidated Financial Statements * IFRS 11: Joint Arrangements * IFRS 12: Disclosure of Interests in Other Entities * IAS 28: Investments in Associates and Joint Ventures (2011) * IAS 32: Financial Instruments: Presentation * IAS 39 (Amendment): Novation of Derivatives and Continuation of Hedge Accounting * IFRIC 21: Levies IFRS 13 Fair Value Measurement IFRS 13 establishes a single framework for measuring fair value and making disclosures about fair value measurements when such measurements are required or permitted by other IFRSs. It unifies the definition of fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It replaces and expands the disclosure requirements in other IFRSs, including IFRS 7. As a result the Group included additional disclosures in this regard in its 2013 Annual Report. As a result of the application of IFRS 13, the Group has amended the presentation and classification of fair value movements on contingent consideration. Under the provisions of IFRS 13, all fair value movements on each item measured at fair value must be presented as a single line item on the Group income statement. The Group has elected to present fair value movements on the remeasurement of contingent consideration within other operating income/(expense). In the six month period ended 30 June 2013, the Group presented interest charges on unwinding the net present value of contingent consideration within financial expense and revisions to contingent
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