Interim Results
30 März 2001 - 12:40PM
UK Regulatory
RNS Number:3703B
Fieldens PLC
30 March 2001
FIELDENS PLC
Interim Results for the Six Months Ended 31 December 2000
Chairman's Statement
In the six months ended 31 December 2000 the Company made an unaudited loss
after taxation of #46,004 on turnover of #1,453,778 (six months ended 31
December 1999: unaudited profit after taxation #13,000 on turnover of #
1,740,331).
The weakened performance of our agricultural wheel and tyre business that we
saw in the second half of last year continued into this year. The 16% overall
reduction in sales against the same period last year was only achieved after
an improved performance from the ATV and garden machinery division which
contributed both 25% higher sales than the same period last year and an
increased contribution to profit. The second half is normally the better half
of the year but, despite a good January, demand is now being adversely
affected as a consequence of the foot-and-mouth outbreak. It therefore seems
unlikely that profits in the second half will fully offset the losses of the
first half.
Net cash at #426,882 was lower than last December (#537,043). The movements
in working capital shown on the balance sheet result mainly from the normal
transient commercial opportunities that we face and do not reflect any
underlying change.
I am disappointed not to be able to make a more positive statement about the
new strategic direction indicated in my last statement, but work is
continuing.
30 March 2001
D. C. Bonham
Chairman
FIELDENS PLC
PROFIT AND LOSS ACCOUNT
For the six months ended 31 December 2000
Six months ended 31 Six months ended 31 Year
December 2000 December 1999 ended
30 June
2000
(Unaudited) (Unaudited) (Audited)
# # #
Sales 1,453,778 1,740,331 3,534,864
Cost of sales 1,230,237 1,434,247 2,905,419
Gross profit 223,541 306,084 629,445
Distribution costs 122,793 124,847 263,758
Administrative expenses 165,906 168,478 313,300
Operating (Loss)/profit (65,158) 12,759 52,387
Other interest receivable and 8,847 6,656 14,321
similar income
Interest payable and similar 0 (59) (59)
charges
(Loss)/Profit on ordinary (56,311) 19,356 66,649
activities before taxation
Taxation 10,307 (6,356) (13,926)
(Loss)/Profit on ordinary (46,004) 13,000 52,723
activities after taxation
Dividends 0 0 (25)
Retained (loss)/profit for the (46,004) 13,000 52,698
period
Earnings per share (0.92)p 0.26 p 1.05 p
Number of ordinary shares in 5,000,000 5,000,000 5,000,000
issue
The profit and loss account has been prepared on the basis that all operations
are continuing operations.
There are no recognised gains and losses other than the profit for the period.
FIELDENS PLC
BALANCE SHEET
As at 31 December 2000
31 December 31 December 30 June
2000 1999 2000
(Unaudited) (Unaudited) (Audited)
# # #
Fixed Assets 574,250 563,979 553,707
Current Assets
Stock 667,066 712,612 643,459
Debtors 317,093 243,069 506,820
Cash at bank and in hand 426,882 537,043 407,280
1,411,041 1,492,724 1,557,559
Creditors: amounts failing due within one (452,591) (516,623) (532,561)
year
Net current assets 958,450 976,101 1,024,998
Total assets less current liabilities 1,532,701 1,540,080 1,578,705
Creditors: amounts falling due after more 0 0 0
than one year
Provision for liabilities 0 (1,073) 0
and charges
1,532,701 1,539,007 1,578,705
Capital and reserves 252,500 252,500 252,500
Called up share capital
Capital redemption reserve 47,500 47,500 47,500
Share premium account 799,195 799,195 799,195
Profit and loss account 433,506 439,812 479,510
Shareholders' funds
(including non-equity interests) 1,532,701 1,539,007 1,578,705
NOTES:
The interim results to 31 December 2000, which are unaudited, have been
prepared in accordance with the accounting policies adopted in the accounts
for the year ended 30 June 2000.
The information set out in the interim report does not constitute annual
accounts within the meaning of section 240 of the Companies Act 1985. The
results for the year to 30 June 2000 are extracts from the published accounts
for that period which were audited and reported on without qualification and
have been delivered to the Registrar of Companies.
Earnings per share is calculated by dividing the (loss)/profit after taxation
for the period by 5,000,000 5p ordinary shares in issue at each period end.
Registered Office: Fieldens PLC, Starhouse, Onehouse, Stowmarket, Suffolk IP14
3EL
Tel: +44 (0)1449 675071 Fax: +44 (0)1449 678282
Company Registration No. 1631866
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