North Midland Construction PLC Final Results -3-
28 Marzo 2013 - 12:19PM
UK Regulatory
Group statement of cash flows for the year ended 31 December
2012
2012 2011
GBP'000 GBP'000
----------------------------------------------- --------- ---------
Cash flows from operating activities
Operating profit/(loss) 775 (716)
Adjustment for:-
Depreciation of property, plant and equipment 1,627 1,645
Gain on disposal of property, plant and
equipment (77) (219)
(Decrease)/increase in reinstatement reserve (229) 19
Goodwill impairment - 1,267
----------------------------------------------- --------- ---------
Operating cash flows before movement in
working capital 2,096 1,996
Decrease in inventories 55 388
(Increase)/decrease in construction contracts (4,581) 106
(Increase) in receivables (339) (3,329)
Increase in payables 1,319 4,818
----------------------------------------------- --------- ---------
Cash (used in)/generated from operations (1,450) 3,979
Income tax (paid) - (1,092)
Interest received 12 24
Interest paid (77) (91)
----------------------------------------------- --------- ---------
Net cash (used in)/generated from operating
activities (1,515) 2,820
----------------------------------------------- --------- ---------
Cash flows from investing activities
Purchase of property, plant and equipment (634) (1,021)
Proceeds on disposal of property, plant
and equipment 99 257
Purchase of non-controlling interests (623) -
(Note 8)
Net cash (used in) investing activities (1,158) (764)
----------------------------------------------- --------- ---------
Cash flows from financing activities
Equity dividends paid (446) (833)
Dividends paid to non-controlling interests (43) (47)
Repayment of obligations under finance
leases (1,002) (858)
----------------------------------------------- --------- ---------
Net cash (used in) financing activities (1,491) (1,738)
----------------------------------------------- --------- ---------
Net (decrease)/increase in cash and cash
equivalents (4,164) 318
Cash and cash equivalents at 1 January
2012 9,229 8,911
----------------------------------------------- --------- ---------
Cash and cash equivalents at 31 December
2012 5,065 9,229
----------------------------------------------- --------- ---------
Cash and cash equivalents comprise funds held at the
bank which are immediately accessible.
1. Basis of preparation
The condensed Group financial statements for the year ended 31
December 2012 included in this report do not constitute the Group's
statutory accounts for the year ended 31 December 2012, but are
derived from those accounts. The auditor has reported on those
accounts; their report was unqualified, did not draw attention
to any matters by way of emphasis without qualifying their report
and did not contain statements under s498(2) or (3) Companies
Act 2006 or equivalent preceding legislation.
While the financial information included in this preliminary announcement
has been prepared in accordance with the recognition and measurement
criteria of International Financial Reporting Standards (IFRS's),
this announcement does not itself contain sufficient information
to comply with IFRS's.
The condensed Group financial statements have been prepared on
a basis consistent with that adopted in the previous years published
financial statements and in accordance with IFRSs.
The Group expects to publish full financial statements that comply
with both IFRS's as adopted for use in the European Union and
IFRS's as compliant with the Companies Act 2006 and Article 4
of the EU IAS Regulations.
The condensed financial statements were approved by the Board
on 28 March 2013.
2. Segment reporting
The business segment reporting format reflects the Group's management
and internal reporting structure.
Business segments
The group is comprised of the following business segments:-
- 'PLC' - comprising building and civil engineering, highways
and utilities divisions
- Nomenca - mechanical and electrical engineering products and
services
Segment revenue and profit
Year Ended 31 December
2012
Building Highways Utilities Nomenca Total
&
Civil
Engineering
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------- ------------- --------- ---------- -------- --------
Revenue
External sales 60,884 12,706 16,251 79,087 168,928
------------------------- ------------- --------- ---------- -------- --------
Result before
corporate expenses 1,596 779 (32) 4,889 7,232
Corporate expenses (1,783) (637) (469) (3,568) (6,457)
------------------------- ------------- --------- ---------- -------- --------
Operating profit/(loss)
before exceptional
items (187) 142 (501) 1,321 775
Exceptional items -
(Note 3)
------------------------- ------------- --------- ---------- -------- --------
Operating profit 775
Interest received 12
Interest paid (77)
------------------------- ------------- --------- ---------- -------- --------
Profit before
tax 710
Tax (174)
------------------------- ------------- --------- ---------- -------- --------
Profit for the
year 536
------------------------- ------------- --------- ---------- -------- --------
Year Ended 31 December
2011
Building Highways Utilities Nomenca Total
&
Civil
Engineering
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------- ------------- --------- ---------- -------- --------
Revenue
External sales 52,031 18,835 32,195 64,159 167,220
------------------------- ------------- --------- ---------- -------- --------
Result before
corporate expenses (629) 1,236 942 4,021 5,570
Corporate expenses (2,542) (401) (341) (2,992) (6,276)
------------------------- ------------- --------- ---------- -------- --------
Operating profit/(loss)
before exceptional
items (3,171) 835 601 1,029 (706)
Exceptional item
(Note 3) (10)
------------------------- ------------- --------- ---------- -------- --------
Operating loss (716)
Interest received 24
Interest paid (91)
------------------------- ------------- --------- ---------- -------- --------
(Loss) before
tax (783)
Tax 147
------------------------- ------------- --------- ---------- -------- --------
(Loss) for the
year (636)
------------------------- ------------- --------- ---------- -------- --------
Segment assets
2012 2011
GBP'000 GBP'000
Building & Civil Engineering 35,745 26,850
Highways 9,541 10,447
Utilities 7,460 17,857
Nomenca 13,685 10,590
--------------------------------------------- -------- --------
Total segment assets and consolidated total
assets 66,431 65,744
--------------------------------------------- -------- --------
For the purpose of monitoring segment performance and allocating
resources between segments, the Group's Chief Executive monitors
the tangible and financial assets attributable to each segment.
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