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”).

  • Investegate.co.uk
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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.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

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.

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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.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to enable you to participate in interactive features of our service, when you choose to do so;
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  • 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.

ACCESS TO YOUR INFORMATION AND CORRECTION

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.

WHERE WE STORE YOUR PERSONAL DATA

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.

CHANGES TO OUR PRIVACY POLICY

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.

OTHER WEBSITES

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.

CONTACT

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

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Willington PLC (WLL)

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Tuesday 23 September, 2003

Willington PLC

Interim Results

Willington PLC
23 September 2003



                             Willington plc
                           Interim Report 2003



Consolidated Profit & Loss Account for the six months ended 30 June
unaudited

                                                        Notes         2003             2002              2002 
£'000                                                    (a)          Half             Half              Full
                                                                      year             year              year

Group turnover                                                       15,308           16,263           32,768

EBITDA                                                   (b)            345              667              969
Depreciation                                                          (349)            (282)            (652)
Goodwill amortisation (2002 full year includes £430,000                (94)            (111)            (640)
for impairment of goodwill)
Operating (loss)/profit                                                (98)              274            (323)
Interest payable                                                      (174)            (200)            (252)
(Loss)/profit before taxation                                         (272)               74            (575)
Taxation                                                                  -             (28)            (104)
(Loss)/profit on ordinary activities after taxation                   (272)               46            (679)
Minority interests                                                        -             (20)             (19)
(Loss)/profit after taxation attributable to Willington               (272)               26            (698)
plc

(Loss)/profit before taxation by business class
Storage                                                               (156)               95              139
Distribution                                                          (116)             (21)            (714)
                                                                      (272)               74            (575)

Headline (loss)/earnings per share (basic)               (c)        (2.10)p            1.61p          (0.68)p
(Loss)/earnings per share (basic)                        (c)        (3.20)p            0.31p          (8.21)p



Consolidated Balance Sheet
unaudited

                                                                       2003             2002             2002  
£'000                                                                  Half             Half             Full
                                                                       year             year             year

Fixed assets                                                          7,070            8,771            7,312
Net current assets                                                      682            1,214              583
Total assets less current liabilities                                 7,752            9,985            7,895
Creditors due in more than one year                                   (986)            (785)            (862)
                                                                      6,766            9,200            7,033
Provisions for liabilities and charges                                 (91)             (88)             (86)
Net assets                                                            6,675            9,112            6,947

Shareholders' funds                                                   6,675            7,666            6,947
Minority interests                                                        -            1,446                -
Total capital employed                                                6,675            9,112            6,947



Notes:

a)       The unaudited interim results for the 26 week period ended 30 June 2003
do not constitute statutory accounts for the purposes of Section 240 of the
Companies Act 1985 and have been prepared adopting a basis and policies
consistent with those contained in the 2002 Annual Report and Accounts. The
columns headed '2002 Full year' consists of figures extracted from the audited
accounts for the financial year ended 31 December 2002, but do not themselves
constitute audited accounts.

b)       EBITDA means earnings before interest, taxation, depreciation and
amortisation (including impairment).

c)        Earnings per ordinary share are calculated on the basis of 8,504,171
ordinary shares in issue and earnings attributable to ordinary shareholders.
There is no difference in earnings for the calculation of diluted earnings per
share. Headline earnings per ordinary share represent earnings before deduction
of amortised goodwill.

d)       Copies of this interim report are being sent to all shareholders and
are available from the company's registered office at Third Floor, 40/42
Osnaburgh Street, London NW1 3ND.


Results

The group recorded a profit before interest, tax, depreciation and goodwill
(EBITDA) for the period of £345,000 (2002 £667,000) and a loss on ordinary
activities before tax of £272,000 (2002 profit £74,000). The results of both
divisions were affected by adverse market conditions and the lower turnover, as
compared with the first six months of last year, reflected this general trend.


In the storage division, our bulk liquids operations remained profitable and
cold storage achieved a similar result to the corresponding period last year
despite a further significant increase in insurance costs. During the early
months of 2003 our container business suffered from the major industry-wide
decline in storage volumes which, combined with exceptional costs incurred to
reduce operating overheads, resulted in a substantial loss for the period and
adversely affected the overall results of the division.


In the distribution division, our German chemicals business remained profitable,
albeit at a much reduced level reflecting weak market conditions. In the UK,
revenues from our chemicals business in the period were higher than in the
second half of 2002 but margins remained under pressure. The more stable market
conditions in our rubber distribution business during the period meant that a
better performance was achieved as compared with the second half of 2002. In
overall terms the results for the division represented an improvement over the
second half of 2002.


Current Trading


Better results from our bulk liquids and cold storage operations are expected
for the remainder of the year providing current trends are maintained and
reasonable volumes of seasonal cold storage business are forthcoming. We hope to
obtain some additional sources of revenue to offset overheads in our container
operations but until we are successful in this area the performance of this
business remains a concern.


The chemical industry in the UK and Europe continues to experience weak demand.
As a consequence we expect the results from our UK and German operations for the
remainder of the year to be broadly in line with first half performance although
we may derive some benefit from the recently acquired distribution of certain
new products in the UK.


Our previously announced withdrawal from rubber trading is progressing
satisfactorily and is expected to be largely complete by the end of year. The
cash released will be utilised to reduce group borrowings.


Dividend


Since trading conditions continue to be difficult, the directors do not propose
an interim dividend payment.




R M Robinow
Chairman
23 September 2003




                      This information is provided by RNS
            The company news service from the London Stock Exchange