Flomerics Group PLC
16 March 2000
PART II
FLOMERICS GROUP PLC
RECORD PRELIMINARY RESULTS FOR YEAR ENDED 31 DECEMBER 1999
FLOMERICS GROUP PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 1999
1999 1998
£'000 £'000
Turnover (Note 3)
Continuing operations 8,445 6,910
Acquisitions 268 -
_________ _________
8,713 6,910
Cost of sales (525) (584)
_________ _________
Gross profit 8,188 6,326
Administrative expenses (7,362) (5,937)
_________ _________
Operating profit
Continuing operations 839 389
Acquisitions 21 -
Goodwill amortisation (34) -
_________ _________
826 389
Other interest receivable 30 71
and similar income (49) (76)
Interest payable and similar _________ _________
charges
Profit on ordinary activities
before taxation (Note 3) 807 384
Tax on profit on ordinary
activities (313) (126)
_________ _________
Profit for the financial year 494 258
Dividends (110) (85)
_________ _________
Retained (Profit/Loss) for the
financial period 384 173
Earnings per share (Note 4) 18.7p 10.1p
Diluted earnings per share 18.6p 10.1p
(Note 5)
FLOMERICS GROUP PLC
CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 1999
1999 1998
£'000 £'000 £'000 £'000
Fixed assets
Intangible assets 786 -
Tangible Assets 815 722
Investments 19 -
Current assets
Debtors 3,860 3,258
Cash at bank and in
hand 506 437
________ ________
4,366 3,695
Creditors: amounts
falling due within (2,497) (1,749)
one year ________ ________
Net current assets 1,869 1,946
________ _______
Total assets less 3,489 2,668
current liabilities
Creditors: amounts
falling due
After more than one
year (109) (147)
Provisions for
liabilities and - (1)
Charges
Deferred income (992) (944)
_______ _______
Net assets (Note 3) 2,388 1,576
====== =======
Capital and reserves
Called up share 27 26
capital
Share premium account 524 49
Other reserves 759 759
Profit and loss 1,078 742
account
Equity ________ _______
shareholders'funds 2,388 1,576
======== =======
FLOMERICS GROUP PLC
SUMMARY CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 1999
£'000 £'000
Net cash inflow from 752 839
operating activities
Net cash outflow from
returns on investment and (18) (29)
servicing of finance
Tax paid (121) (74)
Net cash outflow for
capital expenditure and
financial investment (280) (341)
Net cash outflow from
acquisitions (164) -
Equity dividend paid (85) (77)
_______ ________
Net cash inflow before
financing 84 318
Net cash outflow from
financing (234) (125)
Increase/(decrease) in
cash (150) 193
Notes:
1. The Group recognised unrealised losses on translation
of foreign currency net investments of £48,000 in the year
which were taken to reserves and are not included in the
profits above.
2. The financial information shown for the years ended 31
December 1999 and 1998 set out above does not constitute
statutory accounts but is derived from those accounts.
Statutory accounts for 1998 have been delivered to the
registrar of Companies whereas those for 1999 will be
delivered following the Company's AGM. The auditors have
reported on those accounts; their reports were unqualified
and did not contain a statement under section 237 (2) or (3)
of the Companies Act 1985. Copies of this announcement are
available at the registered offices of the Company (81
Bridge Road, Hampton Court, Surrey, KT8 9HH) and at the
offices of the company's nominated advisors, Teather &
Greenwood Ltd. (Beaufort House, 15 St Boltolph Street,
London EC3A 7QR) for a period of 14 days from the date
hereof.
3. The group's turnover and profit before tax for each
geographic area of operation is:
Turnover Profit Before Taxation
1999 1998 1999 1998
£'000 £'000 £'000 £'000
United States of America -
continuing business 4,690 3,407 42 (19)
Europe - continuing 3,755 3,503 778 403
business
- acquisitions 268 - 21 -
- goodwill - - (34) -
amortisation
------ ----- ------- ------
8,713 6,910 807 384
------ ----- ------- ------
The net assets attributable to each geographic area are:
1999 1998
£'000 £'000
United States of America 305 270
Europe and the Far East 2,083 1,306
--------- --------
2,388 1,576
--------- --------
4. The earnings per share figure for 1999 has been
calculated based on the profit on ordinary activities
after taxation and the weighted average number of shares in
issue of 2,639,000 (1998: 2,561,000).
5. In accordance with FRS14 issued in October 1998 the
fully diluted earnings per share was 18.6 pence per share
(1998: 10.1p). The diluted number of shares was 2,661,000
(1998: 2,560,000)
6. The AGM will be held at 11.00 am on 5 May 2000 at the
registered office of the company (81 Bridge Road, Hampton
Court, Surrey, KT8 9HH).
|
