Business
Interim Results
Interim Results.
About this update from Braime Group Plc Class A
[{"type":"text","content":"\n Braime (T.F.& J.H.) (Hldgs) PLC\n20 September 2006\n\n\nSales of £5.21m for the first six months of 2006 were almost unchanged compared\nto the same period of 2005 (£5.14m). However, the operating loss increased from\n£104,000 in 2005 to £225,000 in 2006 and after adjusting for finance costs, the\nnet group loss increased from £81,000 to £218,000. The directors have decided\nthat, in these circumstances, it is not possible to pay an interim dividend.\n\nThe unsatisfactory result is due to the continuing losses sustained by our\nmanufacturing business.\n\nDuring the first half of 2006, a significant restructuring program, regrettably\nincluding redundancies, has been undertaken to reduce the overhead costs of\nBraime Pressings Limited. Two substantial long term contracts for new presswork\nhave been secured. Supplies to one of the new customers began in mid July. In\nthe case of the second customer, tooling orders were placed in early September\nand production is due to commence in March/April 2007. The combined effect of\nthe reduction in our overhead costs and the contribution from the additional\nwork will return the group to profit in 2007, providing the other subsidiaries\ncontinue to trade satisfactorily.\n\n\n Condensed Consolidated Income Statement for the period ended 30th June 2006\n\n Note 2006 2005\n £ £\n As re-stated\n\nSales revenue 5,210,460 5,140,165\n\nOperating loss (224,932) (103,557)\nFinance costs (140,514) (111,740)\nFinance income 147,204 134,632\n\nResult for the period before tax (218,242) (80,665)\nTax expense - -\n\nNet result for the period (218,242) (80,665)\n\nBasic loss per share (15.16p) (5.60p)\n\n\n\nCondensed Consolidated Statement of Recognised Income and Expense for the period\nended 30th June 2006\n Six months Six months\n to 30th June to 30th June\n 2006 2005\n\nExchange difference on translation of foreign operations (8,152) 2,792\n\nNet income recognised in equity (8,152) 2,792\nLoss for period (218,242) (80,665)\nTotal recognised income and expense for the period (226,394) (77,873)\n\nAttributable to:\nEquity holders of T.F. & J.H. Braime (Holdings) P.L.C. (226,394) (77,873)\n\n\n Consolidated Balance Sheet at 30th June 2006\n 30th June 30th June 31st December\n 2006 2005 2005\nAssets\nNon-current assets\nProperty, plant and equipment 703,696 587,334 737,867\nEmployee ...