TIDMDAY
RNS Number : 9752A
Daisy Group PLC
31 December 2014
31 December 2014
Daisy Group plc
Interim Results
Daisy Group plc is pleased to report its results for the 6
months ended 30 September 2014.
CONSOLIDATED INCOME STATEMENT
Unaudited Unaudited Audited
6 months to 6 months to Year ended
30 September 30 September 31 March 2014
2014 2013
GBP'000 GBP'000 GBP'000
--------------------------- ------------ ------------ -------------
Revenue 169,600 173,900 352,675
Cost of sales (102,230) (106,581) (213,399)
---------------------------- ------------ ------------ -------------
Gross profit 67,370 67,319 139,276
Operating costs (75,465) (79,250) (157,140)
---------------------------- ------------ ------------ -------------
Operating loss (8,095) (11,931) (17,864)
Adjusted EBITDA 25,830 27,806 57,943
Amortisation of intangible
assets (27,659) (33,545) (63,838)
Depreciation (2,460) (1,865) (4,057)
Exceptional operating
costs - direct
acquisition costs (16) (2,750) (3,036)
Net exceptional operating
costs - other (2,891) (1,297) (4,100)
Net share-based payment
costs (899) (280) (776)
---------------------------- ------------ ------------ -------------
Operating loss (8,095) (11,931) (17,864)
---------------------------- ------------ ------------ -------------
Finance income 68 97 169
Finance costs (3,445) (3,169) (6,693)
---------------------------- ------------ ------------ -------------
Net finance expense (3,377) (3,072) (6,524)
Share of (loss)/profit
of joint venture (640) 8 13
Loss before tax (12,112) (14,995) (24,375)
Income tax credit 2,303 4,923 8,743
---------------------------- ------------ ------------ -------------
Loss after tax (9,809) (10,072) (15,632)
---------------------------- ------------ ------------ -------------
Loss per share (pence)
Basic loss per share (3.80) (3.90) (6.06)
---------------------------- ------------ ------------ -------------
Diluted loss per share (3.80) (3.90) (6.06)
---------------------------- ------------ ------------ -------------
A separate consolidated statement of comprehensive income has
not been presented as there are no further items of comprehensive
income other than as presented in the consolidated income statement
above.
CONSOLIDATED BALANCE SHEET
Unaudited Unaudited Audited
30 September 30 September 31 March 2014
2014 2013
GBP'000 GBP'000 GBP'000
------------------------------ ------------ ------------ -------------
ASSETS
Non-current assets
Goodwill 136,771 118,602 135,189
Other intangible assets 105,029 138,083 126,763
Property, plant and equipment 10,094 11,052 10,816
Investment in joint venture 6 - 6
Deferred tax asset 8,228 10,521 8,584
------------------------------- ------------ ------------ -------------
260,128 278,258 281,358
Current assets
Inventories 5,491 4,252 5,629
Trade and other receivables 98,887 90,309 97,155
Cash and cash equivalents 36,843 36,269 43,666
------------------------------- ------------ ------------ -------------
141,221 130,830 146,450
LIABILITIES
Current liabilities
Trade and other payables (115,342) (107,294) (123,982)
Current tax liability (2,822) (4,362) (1,679)
Borrowings (442) (8,316) (10,846)
Provisions (118) (1,094) (878)
------------------------------- ------------ ------------ -------------
(118,724) (121,066) (137,385)
Net current assets 22,497 9,764 9,065
Non-current liabilities
Borrowings (153,457) (119,023) (144,688)
Provisions (772) (2,120) (772)
Deferred tax liability (13,909) (20,407) (18,601)
Other non-current liabilities (8,227) (12,334) (11,097)
------------------------------- ------------ ------------ -------------
(176,365) (153,884) (175,158)
------------------------------ ------------ ------------ -------------
NET ASSETS 106,260 134,138 115,265
------------------------------- ------------ ------------ -------------
Equity attributable to the owners of
the parent
Share capital 5,339 5,339 5,339
Share merger reserve 83,500 83,500 83,500
Other reserves 91,358 91,358 91,358
Retained losses (73,937) (46,059) (64,932)
------------------------------- ------------ ------------ -------------
TOTAL EQUITY 106,260 134,138 115,265
------------------------------- ------------ ------------ -------------
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share Attributable
to
Share Share merger Other Retained equity holders Total
capital premium reserve reserves earnings of the parent equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
---------------------- ------- -------- ------- -------- -------- -------------- --------
At 1 April 2013 5,339 89,868 83,500 1,490 (36,261) 143,936 143,936
Share-based payments - - - - 274 274 274
Cancellation of
reserve - (89,868) - 89,868 - - -
Loss for the period - - - - (10,072) (10,072) (10,072)
---------------------- ------- -------- ------- -------- -------- -------------- --------
At 30 September
2013 5,339 - 83,500 91,358 (46,059) 134,138 134,138
---------------------- ------- -------- ------- -------- -------- -------------- --------
At 1 October 2013 5,339 - 83,500 91,358 (46,059) 134,138 134,138
Share-based payments - - - - 496 496 496
Deferred tax on
share based payments - - - - 100 100 100
Shares exercised
from the
employee benefit
trust - - - - 261 261 261
Dividends - - - - (14,170) (14,170) (14,170)
Loss for the period - - - - (5,560) (5,560) (5,560)
----------------------
At 31 March 2014 5,339 - 83,500 91,358 (64,932) 115,265 115,265
---------------------- ------- -------- ------- -------- -------- -------------- --------
At 1 April 2014 5,339 - 83,500 91,358 (64,932) 115,265 115,265
Share-based payments - - - - 897 897 897
Deferred tax on
share based payments - - - - (93) (93) (93)
Loss for the period - - - - (9,809) (9,809) (9,809)
----------------------
At 30 September
2014 5,339 - 83,500 91,358 (73,937) 106,260 106,260
---------------------- ------- -------- ------- -------- -------- -------------- --------
CONSOLIDATED CASH FLOW STATEMENT
Unaudited Unaudited Audited
6 months 6 months Year ended
to to
30 September 30 September 31 March
2014 2013 2014
GBP'000 GBP'000 GBP'000
-------------------------------------------- ------------ ------------ ----------
Cash generated from operations 12,216 16,806 44,179
Interest element of finance lease
repayments (81) - -
Net income tax paid (1,238) (2,440) (4,943)
--------------------------------------------- ------------ ------------ ----------
Net cash generated from operating
activities 10,897 14,366 39,236
Cash flows from investing activities
Business combinations, net of
cash acquired (6,976) (13,139) (36,191)
Payment to acquire intangible
assets (4,065) (5,401) (9,303)
Investment in discontinued operations/joint
venture (135) (77) (77)
Purchase of property, plant and
equipment (759) (1,944) (1,937)
Proceeds from sale of property,
plant and equipment - 39 597
Interest received 68 97 169
--------------------------------------------- ------------ ------------ ----------
Net cash used in investing activities (11,867) (20,425) (46,742)
Cash flows from financing activities
Proceeds from the exercise of
share options - - 261
Proceeds from bank borrowings 3,000 10,000 40,000
Fees associated with bank borrowings (461) (2,716) (2,951)
Repayment of borrowings (5,000) (1,000) (5,000)
Dividends paid - - (14,170)
Interest paid (2,711) (2,433) (5,277)
Payment of finance lease liabilities (681) (331) (499)
--------------------------------------------- ------------ ------------ ----------
Net cash generated from financing
activities (5,853) 3,520 12,364
Net (decrease)/increase in cash
and cash equivalents (6,823) (2,539) 4,858
Cash and cash equivalents at the
start of the period 43,666 38,808 38,808
Cash and cash equivalents at the
end of the period 36,843 36,269 43,666
--------------------------------------------- ------------ ------------ ----------
NOTES TO THE FINANCIAL INFORMATION
1. BASIS OF PREPARATION
The condensed consolidated financial information ("financial
information") does not comprise statutory accounts within the
meaning of section 434 of the Companies Act 2006.
Statutory accounts for the year ended 31 March 2014 were
approved by the board of directors on 16 June 2014 and delivered to
the Registrar of Companies. The report of the auditors on those
accounts was unqualified, did not contain any emphasis of matter
paragraph and did not contain any statement under section 498 of
the Companies Act 2006.
2. ACCOUNTING POLICIES
Except as described below, the accounting policies are
consistent with those of the financial statements for the year
ended 31 March 2014:
Income tax
Taxes on income in the interim periods are accrued using the tax
rate that would be applicable to expected total annual
earnings.
Enquiries:
Daisy Group plc Tel: 01282 607785
Katherine McNamara, Head of PR
Liberum Capital Limited Tel: 020 3100 2220
Steve Pearce/Tom Fyson
Redleaf Polhill Limited daisy@redleafpr.com
Rebecca Sanders-Hewett/Jenny Bahr Tel: 020 7382 4730
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR TMBFTMBIJBTI
Daisy Grp (LSE:DAY)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Daisy Grp (LSE:DAY)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
