Final Results

Slingsby(H.C.)Plc 27 April 2001 H. C. Slingsby p.l.c. Preliminary announcement for the year to 31 December 2000 Statement by the Chairman I am delighted to present your Company's results this year, which reflect the encouraging factors we had first noted towards the end of the previous year. The pre-tax profit figure of £1.1 million shows an increase of 73% on last year and is 20% higher than our previous record figure. A more pro-active contact management strategy, together with structured regular mailing, has enabled us to reinforce customer loyalty and build customer retention. New product development and improved service levels have enhanced brand value and helped build a stronger corporate identity. A more targeted approach to our mailings has enabled us to reduce costs and the control of overhead expenditure has also impacted on our improved profitability. During the latter part of the year we commenced the upgrade of our computer software across the whole organisation. The system, when completely installed, will be fully web-enabled, encompassing the latest techniques in Customer Relationship Management. This will duly provide us with the infrastructure to complete and subsequently enhance our internet strategy, which will give customers the facility to place and track orders in addition to making enquiries. Initiatives for the forthcoming year include a broader range of measures to further reduce the cost of customer recruitment. We envisage that greater emphasis on e-commerce and improving our telemarketing operations will also provide opportunities to enhance operating efficiency. Additionally, we are changing our marketing structure to enable us to focus our efforts on more range development and improving procurement efficiency, which will allow us to reduce dependency and take greater control of the supply chain. Whilst I am pleased to report that the first quarter's results matched your Board's expectations, I think it would be complacent not to be mindful of the possible effects of a number of factors both economic and political which could have a detrimental effect on our market sectors. I would like to place on record my thanks to the staff for their efforts and commitment in what has been a busy and eventful year. Your Board is pleased to recommend a Final Dividend of 25.0p per share (1999: 21.0p per share). The total dividend for the year is 30.0p per share (1999: 24.0p per share). The record date will be 1 June 2001 and the payment date for the final dividend 2 July 2001. J F Slingsby Chairman 27 April 2001 Registered Office Preston Street Bradford West Yorkshire BD7 1JF The following extracts are not full financial statements for the Company. Full financial statements will be issued to the shareholders on 25 May 2001 and will be available to members of the public at the registered office of the Company from that date. The announcement has been agreed with the Company's auditors for release. The information for the year ended 31 December 1999 is an extract from the statutory accounts to that date which have been delivered to the Registrar of Companies. Those accounts included an audit report which was unqualified and which did not contain a statement under Section 237(2) or (3) of the Companies Act 1985. The statutory accounts for the year ended 31 December 2000, upon which the auditors have still to report, will be delivered to the Registrar following the Company's Annual General Meeting. The Annual General Meeting will be held on 21 June 2001. H. C. Slingsby p.l.c. Profit and Loss Account for the year ended 31 December 2000 Unaudited Audited 2000 1999 £'000 £'000 Turnover - continuing operations 17,755 15,344 ===== ===== Operating profit 994 557 Interest receivable 108 79 ---------- ---------- Profit on ordinary operations before 1,102 636 taxation Taxation (327) (172) ---------- ---------- Profit attributable to shareholders 775 464 ===== ===== Dividends : Interim Paid 50 30 Proposed Final 250 210 ---------- ---------- Earnings per share 77.5p 46.4p ===== ===== The company does not have any recognised gains or losses than those recorded above within the profit and loss account, and therefore no separate statement of total recognised gains and losses has been presented. Earnings per share Basic earnings per share is based upon earnings of £775,000 (1999: £464,000) and on 1,000,000 (1999: 1,000,000) ordinary shares in issue during the year. There is no difference between basic earnings per share and diluted earnings per share for both years stated. H. C. Slingsby p.l.c. Balance Sheet as at 31 December 2000 Unaudited Audited 2000 1999 £ '000 £'000 Fixed assets Tangible assets 1,798 1,722 Investments 300 300 ---------- ---------- 2,098 2,022 ---------- ---------- Current assets Stock 1,476 1,378 Debtors 3,265 2,644 Cash at bank and in hand 2,578 1,524 ---------- ---------- 7,319 5,546 Creditors: Amounts falling due within one year (4,358) (2,989) ---------- ---------- Net current assets 2,961 2,557 ---------- ---------- Total assets less current liabilities 5,059 4,579 Provisions for liabilities and charges Deferred taxation (35) (30) ---------- ---------- Net assets 5,024 4,549 ===== ===== Capital and reserves Called up share capital 250 250 Profit and loss account 4,774 4,299 ---------- ---------- Equity shareholders' funds 5,024 4,549 ===== ===== H. C. Slingsby p.l.c. Cash Flow Statement for the year ended 31 December 2000 Unaudited Audited 2000 1999 £'000 £'000 Operating activities Net cash inflow from operating activities 1,734 745 Returns on investments and servicing of finance Interest received 108 77 Taxation UK Corporation tax paid (188) (239) Capital expenditure and financial investment Purchase of tangible fixed assets (406) (413) Sales of tangible fixed assets 45 77 ---------- --------- Net cash outflow from capital expenditure and financial investment (361) (336) Equity dividends paid (240) (240) ---------- --------- Net cash inflow before use of liquid resources 1,053 7 Management of liquid resources Increase in short term deposits with banks (1,000) - ---------- --------- Increase in cash in the period 53 7 ===== ===== H. C. Slingsby p.l.c. Cash Flow Statement Notes for the year ended 31 December 2000 1. Reconciliation of operating profit to net cash inflow from operating activities Unaudited Audited 2000 1999 £'000 £'000 Net cash inflow from operating activities Operating profit 994 557 Depreciation charges 267 364 Profit on sale of tangible fixed assets (8) (29) (Increase) in stocks (98) (35) (Increase)/decrease in trade debtors (468) 15 (Increase) in prepayments (150) (33) Increase in trade creditors 697 37 Increase in other taxation and social security 84 1 Increase/(decrease) in other creditors and accrual 416 (132) ---------- --------- Net cash inflow from operating 1,734 745 activities ===== ===== 2. Reconciliation to net cash Unaudited Audited 2000 1999 £'000 £'000 Changes during the year Cash at bank in hand at 1 January 1,525 1,518 Increase in net cash 53 7 Movement in short-term deposits 1,000 - --------- ---------- Cash at bank and in hand at 31 2,578 1,525 December ===== ===== END

Companies

Slingsby H.C (SLNG)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today