Business
Final Results
Final Results.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n European Motor Hldgs PLC\n26 April 2006\n\n\n EUROPEAN MOTOR HOLDINGS plc (\"EMH\")\n\n Preliminary results for the year ended 28 February 2006\n\nEMH, consistently one of the UK's most profitable quoted motor retail groups,\nannounces its results for the year ended 28 February 2006.\n\nHighlights:\n\n• Profit before exceptional items and tax up by 15% to £18.0 million\n (2005, £15.7 million)\n\n• Profit before tax £18.5 million (2005, £30.5 million)\n\n• Earnings per share before exceptional items up by 18% to 23.4 pence\n (2005, 19.8 pence)\n\n• Net assets per share 168.5 pence (2005, 150.3 pence)\n\n• Significant expansion through acquisition with the Group's chosen\n key manufacturer partners, adding fifteen franchised dealerships to the Group in\n the year\n\n• Acquisitions performing well and slightly ahead of expectations\n\n• Dividends per share for the year up by 13% to 10.75 pence (2005, 9.5\n pence)\n\n• Record start to new financial year\n\n\nCommenting on these results, chief executive Richard Palmer said:\n\n\"We have produced record trading profits (before exceptional items) in a period\nin which the new car market fell by 5% - an outstanding achievement. Our\nestablished businesses increased their profits by 10% on a like for like basis,\nour recent acquisitions are performing well and we expect to make further\nprogress in the next twelve months.\"\n\n\nEnquiries:\n\nRichard Palmer Chief Executive\nAnn Wilson Finance Director\n\nMorning: Biddick Associates 020 7448 1000\nAfternoon: European Motor Holdings plc 01491 413 399\n\n\n\n EUROPEAN MOTOR HOLDINGS plc\n\n Preliminary results for the year ended 28 February 2006\n\n Chief Executive's statement\n\n\nWe are delighted to report another year of substantial progress and record\ntrading profits as set out below.\n\n Year ended Year ended\n 28 February 28 February\n 2006 2005\n £'000 £'000 £'000 £'000\n\nProfit before taxation, exceptional\nitems and the effect of Smith Knight\nFay (\"SKF\") 16,775 15,660\n\nTrading profit before taxation of SKF\nsince acquisition 2,283 -\n\nAdditional Group interest on SKF\nconsideration (1,048) -\n ------- -------\n\nProfit before taxation and\nexceptional items 18,010 15,660\nExceptional items\n VAT refund - 6,272\n Interest on VAT refund - 6,279\n Profit on disposal of businesses 1,545 2,580\n Profit...