G.R. Holdings PLC - Final Results
13 Ottobre 1999 - 9:00AM
UK Regulatory
RNS No 9542a
G R HOLDINGS PLC
13 October 1999
G.R. (HOLDINGS) PLC
PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 30 JUNE 1999
CHAIRMAN'S STATEMENT
The pre-tax profit of the group on ordinary activities
for the year ended 30 June 1999 was #388,147 (#899,372 -
1998). After taxation, including a provision for ACT of
#163,000, the profit attributable to members of the
company is #158,859 against #782,179 for the previous
year. This is after costs relating to certain UK
property interests totalling #169,815 this year compared
with #127,333 last year. The turnover was down from
#5,630,808 to #5,225,206.An interim dividend of 0.4p was
paid on 11 May 1999. The directors recommend the final
payment of a dividend of 1.0p per share, which subject to
shareholders approval will be paid on 21 December 1999 to
those shareholders on the Register of Members on 26
November 1999.
The occupancy at Grayshott Hall fell by 14%, giving rise
to a substantial fall in profits.
The turnover at Morlands was reduced by 16% and the
losses increased by over 50%.
During the year, the company signed an option agreement,
on the Glastonbury land, with a private property company,
which is pursuing negotiations for a satisfactory
planning consent with the local planners.
Partial sales were achieved on two of the US property
interests our share being $85,000.
We disposed of our interest in a public company resulting
in a profit of #293,278.
Stock has increased by #78,777. Debtors have increased
by #102, 950 whilst creditors have decreased by
#181,804. Net cash at bank and in hand has increased by
#122,135.
Since the end of the financial year, the trading position
of the company ahs further deteriorated.
Finally, I would like to thank my co-directors and all
the staff for their support and involvement during the
year.
A.D. Stalbow
Chairman
13 October 1999
Consolidated Profit and Loss Account
for the year ended 30 June 1999
1999 1998
# # #
Turnover 5,225,206 5,630,808
Operating Profit 278,118 710,675
Income from listed fixed 17,867 40,857
asset investments
Interest receivable and 100,883 157,646
similar income
Interest payable and (8,721) (9,806)
similar charges
110,029 188,697
Profit on ordinary 388,147 899,372
activities before
taxation
Tax on profit on (229,288) (117,193)
ordinary activities
Profit on ordinary 158,859 782,179
activities after
taxation
Dividends (347,114) (2,269,657)
Loss for the financial (188,255) (1,487,478)
year
Earnings per share (0.03)p 4.7p
Consolidated Balance Sheet
as at 30 June 1999
1999 1998
# # #
Fixed assets
Intangible assets 1 1
Tangible assets 1,974,793 2,102,479
Investments 3,540,036 3,901,230
5,514,830 6,003,710
Current assets
Stocks 518,538 497,315
Debtors 515,578 412,628
Cash at bank and in 374,933 206,016
hand
1,409,049 1,115,959
Creditors : amounts
falling due
within one year 777,139 931,375
Net current assets 631,910 284,548
Total assets less 6,146,740 6,288,294
current liabilities
Creditors : amounts
falling due after
more than one year 32,101 -
6,114,639 6,288,294
Capital and reserves
Called up share 2,208,513 2,208,513
capital
Capital redemption 425,000 425,000
reserve
Share premium account 198,396 198,396
Profit and loss 3,282,730 3,456,385
account
Shareholders funds 6,114,639 6,288,294
Notes:
1. The summary of results for the year ended 30 June
1999 does not constitute full financial statements within
the meaning of Section 240 of the Companies Act 1985.
2. The calculation of earnings per share is based on
profits of #158,859 (1998: #782,179) being the profit
after taxation and after deducting preference dividends,
and on 13,168,100 ordinary shares of 5p each (1998:
13,168,100).
3. The Annual General Meeting will be held at 11.00am
on 7 December 1999 at the offices of Beeson Gregory, The
Registry, Royal Mint Court, London EC3N 4EY.
4. Copies of the 1999 Report and Accounts are being
sent to shareholders in due course. Further copies are
available from the Company's registered office at 54
Jermyn Street, London SW1Y 6LX.
END
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