The outlook for the second half of the current year is below our
previous expectations. The significant changes we are undertaking
within the business, and those we will announce following the
completion of the strategic review, will begin to benefit the
business from the end of the second half and will position the
business for long-term growth.
Darcy Willson-Rymer
Chief Executive Officer, Clinton Cards PLC
SUMMARY OF RESULTS 26 weeks 26 weeks 52 weeks
ended ended ended
29 January 30 January 31 July
2012 2011 2011
--------------------------------------- ----------- ----------- ----------
Continuing operations GBP'000 GBP'000 GBP'000
Revenue (excluding VAT)
Clinton 171,699 178,297 312,878
Birthdays Retail 25,450 28,596 51,340
----------- ----------- ----------
Group revenue 197,149 206,893 364,218
----------- ----------- ----------
Adjusted operating profit/(loss)
Clinton 3,588 14,703 7,004
Birthdays Retail (2,845) (292) (3,801)
----------- ----------- ----------
Group adjusted operating profit 743 14,411 3,203
----------- ----------- ----------
Operating profit/(loss)
Clinton 2,581 13,652 485
Birthdays Retail (4,361) (586) (8,597)
----------- ----------- ----------
Group operating (loss)/profit (1,780) 13,066 (8,112)
----------- ----------- ----------
(Loss)/Profit before tax (3,674) 11,733 (10,662)
----------- ----------- ----------
Loss for the period from discontinued
operations - (3,643) (2,943)
----------- ----------- ----------
Reconciliation of statutory values
to adjusted measures
Group operating (loss)/profit (1,780) 13,066 (8,112)
Net impairment of property, plant
and equipment - - 5,686
Restructuring costs 1,218 - -
Charges in respect of onerous leases 407 - 4,644
Loss on sale of property, plant
and equipment 898 1,345 985
----------- ----------- ----------
Group adjusted operating profit 743 14,411 3,203
----------- ----------- ----------
Unaudited Consolidated Statement of Comprehensive Income
26 weeks 26 weeks 52 weeks
ended ended ended
29 January 30 January 31 July
Note 2012 2011 2011
Continuing operations GBP'000 GBP'000 GBP'000
Sales (including VAT) 236,352 243,371 432,037
----------- ----------- ----------
Revenue (excluding VAT) 4 197,149 206,893 364,218
Cost of sales (188,688) (185,596) (357,589)
----------- ----------- ----------
Gross profit 8,461 21,297 6,629
Other operating income 42 46 94
Profit/(loss) on sale of property,
plant and equipment (898) (1,345) (985)
Administrative expenses (9,385) (6,932) (13,850)
----------- ----------- ----------
Operating (loss)/profit 4 (1,780) 13,066 (8,112)
----------- ----------- ----------
Analysed as:
Operating (loss)/profit before
exceptional items (155) 13,066 2,218
Net impairment to property, plant
and equipment * - - (5,686)
Charges in respect of onerous leases
* (407) - (4,644)
Restructuring costs * (1,218) - -
Operating (loss)/profit (1,780) 13,066 (8,112)
Finance income 63 48 96
Finance costs 6 (2,127) (1,642) (2,992)
Change in fair value of financial
instruments 218 266 356
Unwinding of property provision
discount (48) (5) (10)
----------- ----------- ----------
(Loss)/Profit before taxation (3,674) 11,733 (10,662)
Taxation 166 (3,286) (1,428)
----------- ----------- ----------
(Loss)/Profit from continuing operations (3,508) 8,447 (12,090)
Loss for the period from discontinued
operations 5 - (3,643) (2,943)
----------- ----------- ----------
(Loss)/Profit for the period attributable
to owners of the company (3,508) 4,804 (15,033)
Other comprehensive expense (net
of tax):
Currency translation differences - - (233)
----------- ----------- ----------
Total comprehensive (expenses)/income
for the period attributable to
owners of the company (3,508) 4,804 (15,266)
----------- ----------- ----------
(Loss)/Earnings per share for profit
attributable to owners of the company 8
From continuing operations:
Basic earnings per share (pence) (1.70) 4.08 (5.84)
Diluted earnings per share (pence) (1.70) 4.08 (5.84)
From continuing and discontinued
operations:
Basic earnings per share (pence) (1.70) 2.32 (7.26)
Diluted earnings per share (pence) (1.70) 2.32 (7.26)
* Exceptional items
The notes on pages 10 to 20 are integral to these consolidated
condensed financial statements.
Unaudited Consolidated Balance Sheet
As at As at As at
29 January 30 January 31 July
2012 2011 2011
Note GBP'000 GBP'000 GBP'000
Non current assets
Goodwill 9 17,326 17,326 17,326
Other intangible assets 9 1,750 1,750 1,750
Property, plant and equipment 9 48,003 55,443 48,729
Deferred tax asset - 288 -
----------- ----------- ----------
67,079 74,807 67,805
----------- ----------- ----------
Current assets
Inventories 40,976 42,910 43,202
Trade and other receivables 10 16,016 20,270 18,917
Current tax asset 887 - 886
Cash and cash equivalents 8,582 9,376 19,673
----------- ----------- ----------
66,461 72,556 82,678
Assets held by discontinued operations 13 - 180 -
----------- ----------- ----------
66,461 72,736 82,678
----------- ----------- ----------
Total assets 133,540 147,543 150,483
----------- ----------- ----------
Current liabilities
Borrowings (151) (13,559) (53,527)
Trade and other payables 11 (96,071) (73,413) (55,458)
Grafico Azioni Clinton Cards (LSE:CC.)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Clinton Cards (LSE:CC.)
Storico
Da Dic 2023 a Dic 2024
