Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Tex Holdings PLC (TXH)

  Print      Mail a friend       Annual reports

Thursday 29 November, 2001

Tex Holdings PLC

Interim Results

Tex Holdings PLC
29 November 2001


Group sales for the six months ending 30th September 2001 amounted to £11.4
million representing a 2.9% increase over the corresponding period last year.
Pre-tax profit earned in the first six months amounted to £166k compared with
£521k last year, as a result of changes in the business mix and pressure on

In the Engineering division, there was a general volume shortfall of 18%
against last year with the position exacerbated by project delays and lack of
funding for signed contracts.  The division sustained an unwelcome loss of 
£267k against a profit of £143k last year.

Sales in the Plastics division at £6.4m were £583k (10%) ahead of last year,
as both Tex Plastic companies increased their business with existing clients
as well as winning market share.  Profits were held at £187k - the same level
as last year due to competitive pressures, mix changes, plus growth and
development costs which were expensed.

The Boards & Panels division performed better than last year with sales of 
£2.3m being 16% up, whilst profits were up 36% at £83k.  Demand improvement was
particularly notable from the retail and caravan sectors.

The last two months have shown some improvement in orders and enquiries,
particularly for Plastics and Boards & Panels, which suggests the Group will
be busier in the second half year.  On the Engineering side, the signing and/
or funding of overseas projects continues to be delayed by World economic
circumstances but we remain cautiously optimistic of a positive eventual
outcome in a number of cases, including the housing projects previously
referred to.

The Company has recently received a draft triennial report on the final salary
based pension scheme from the consulting actuary.  As a result of the
unfavourable tax changes imposed by the Chancellor a couple of years ago,
increased life expectancy, and deteriorating investment conditions, the
actuary's preliminary views show a large increase in the funding deficit -  a
situation faced by many employers offering final salary schemes.  This may
lead to an additional charge against profits in the second half and beyond as
contributions are increased, and a significant long term liability against the
assets of the Company.  A full disclosure note will be included in the final
accounts published after the year end.

The Board has decided to pay an interim dividend of 2 pence which will be paid
on 18th January 2002 to shareholders on the register as at 21st December 2001.

ARB Burrows


29th November 2001

                 Consolidated Interim Profit and Loss Account
                  for the six months ended 30 September 2001

                                                 6 months    6 months      Year
                                                    ended       ended     ended
                                                  30.9.01     30.9.00   31.3.01
                                              (Unaudited) (Unaudited) (Audited)
                                                     £000        £000      £000

Turnover                                           11,432      11,101    23,763
Operating profit                                      262         581     1,193
Interest payable less interest receivable            (96)        (60)     (163)
Profit on ordinary activities                         166         521     1,030
Taxation                                             (49)       (157)     (325)
Profit after taxation attributable to                 117         364       705
Dividends                                           (127)       (159)     (477)
(Loss)/Profit retained                               (10)         205       228

Earnings per share                                   1.8p        5.8p     11.2p


1.    Taxation has been computed on the basis of a Corporation Tax rate of 30% 
      (2001: 30%)

2.    The accounts for the year ended 31 March 2001 are abridged accounts. Full 
      accounts for that year, on which the auditors gave an unqualified report, 
      have been delivered to the Registrar of Companies.

3.    The six months accounts to 30 September 2001 have not been audited or 
      reviewed by KPMG Audit plc.

4.    The calculation of earnings per share is based on profit after tax and on 
      the average of fully paid up shares.

5.    A copy of this interim report has been circulated to shareholders and will
      be available from the Company's registered office at Claydon Business 
      Park, Gipping Road, Great Blakenham, Ipswich, Suffolk, IP6 0NL.

                      Consolidated Interim Balance Sheet

                                                    As at       As at     As at
                                                  30.9.01     30.9.00   31.3.01
                                              (Unaudited) (Unaudited) (Audited)
                                                     £000        £000      £000
Fixed assets
Tangible assets                                     5,822       6,089     5,965

Current assets
Stocks                                              4,461       4,630     4,205
Debtors                                             6,507       5,728     5,609
Cash at bank and in hand                              990         600       984
                                                   11,958      10,958    10,798

Amounts falling due in one year                   (6,108)     (6,116)   (6,142)
Net current assets                                  5,850       4,842     4,656
Total assets less current liabilities              11,672      10,931    10,621

Amounts falling due after more than one year      (2,905)     (2,186)   (1,844)
Provision for liabilities and charges               (384)       (371)     (384)
Net assets                                          8,383       8,374     8,393

Capital and reserves
Called up share capital                               633         633       633
Profit and loss account                             4,373       4,360     4,383
Other reserves                                      3,377       3,381     3,377
Equity shareholders' funds                          8,383       8,374     8,393

Consolidated Interim Cash flow

                                                 6 months   6 months      Year
                                                    ended      ended     ended
                                                  30.9.01     30.9.00   31.3.01
                                              (Unaudited) (Unaudited) (Audited)
                                                     £000      £000        £000

Cash (outflow)/inflow from operating                (723)       (626)     1,101
Returns on investments and servicing of              (96)        (60)     (163)
Taxation                                               67          10     (631)
Capital expenditure                                 (185)       (401)     (544)
Equity dividends paid                               (316)       (504)     (664)
Cash outflow before management of liquid          (1,253)     (1,581)     (901)
resources and financing
Management of liquid resources                          -           -     2,000
Cash (outflow)/inflow before financing            (1,253)     (1,581)     1,099

Issue of shares                                         -          23        23
Repayment of debt                                   (185)       (100)     (200)
Additional loan                                     1,700           -         -
Capital element of finance lease rental             (217)       (235)     (431)
                                                    1,298       (312)     (608)

Increase/(decrease) in cash in the period              45     (1,893)       491

Reconciliation of net cash flow to movement
in net debt
Increase/(decrease) in cash in the period              45     (1,893)       491
Cash (inflow)/outflow from (increase)/            (1,515)         100       200
decrease in loans
Cash inflow from increase in liquid resources           -           -   (2,000)
Cash outflow from decrease in lease financing         205         235       431
Change in net debt resulting from cash flows      (1,265)     (1,558)     (878)
New finance leases                                   (80)        (31)     (243)
Movement in net debt in the period                (1,345)     (1,589)   (1,121)
Net debt at the start of the period               (1,510)       (389)     (389)
Net debt at the end of the period                 (2,855)     (1,978)   (1,510)

For further information please contact:-

Mr Mark Harrison, Group Managing Director on 01473-830144