Business
Interim Results
Interim Results.
About this update from Heath (samuel) & Sons Plc
[{"type":"text","content":"\n RNS Number : 4177J Heath(Samuel) & Sons PLC 04 December 2008 \n \nSAMUEL HEATH & SONS plc\n('the Company')\n\nINTERIM REPORT\n\nHalf year ended 30 September 2008\n\nCHAIRMAN'S STATEMENT\n\n\nI forecast in July 'a significant further fall in profits for the coming year'. During the first half turnover was 0.6% higher at £6,148,000, and operating profit was 1.7% higher at £354,000.\n\nI have to say that this result was considerably better than anticipated and a great credit to all concerned.\n\nHowever, since the end of this half-year, business has deteriorated sharply, which is not altogether surprising in such uncertain times. The second six months will almost certainly confirm my July view of a considerable fall in profits, with an outcome worse than our original budgets.\n\nDespite all of this, the Company continues to have a strong balance sheet, and we are proposing to pay a same again interim dividend of 11 pence per share.\n\nMr. Anthony Buttanshaw has joined the Board of Directors. Aged 53, he is a chartered accountant and spent some fifteen years in the G.K.N. Group, reaching high positions both in the U.K. and U.S.A. It is felt that this experience will be of great benefit to the Company and I welcome him.\n\n\nSam Heath\nChairman\n4th December 2008\n\n\nFor further information, please contact:\n\n\n\n\n\nSamuel Heath & Sons Plc\n\n\n\n\n\n\n\nJohn Park, Company Secretary\n\n\n\n0121 772 2303\n\n\n\n\nEvolution Securities Limited\n\n\n\n\n\n\n\nJoanne Lake/Peter Steel\n\n\n0113 243 1619\n\n\n\n\n\n\n\nUNAUDITED INTERIM FINANCIAL REPORT (IFRS)\nFor the Half Year ended 30 September 2008\n\n\n\n\n\n\nCONSOLIDATED INCOME STATEMENT\n\n\n\n\n\n\n\n\nHalf year\nended\n30 September\n2008\n\n\nHalf year\nended\n30 September\n2007\n\n\n\nYear ended\n31 March\n2008\n\n\n\n\n\n\n\nUnaudited\n\n\nUnaudited\n\n\nAudited\n\n\n\n\n\n\n\n£'000\n\n\n\n£'000\n(Restated)\n\n\n£'000\n(Restated)\n\n\n\n\nRevenue\n\n\n\n6,148 \n\n\n\n6,111 \n\n\n\n12,085 \n\n\n\n\n\nCost of sales\n\n\n3,390 \n\n\n3,469 \n\n\n6,371 \n\n\n\n\n\n\n\n----------\n\n\n----------\n\n\n----------\n\n\n\n\nGross profit\n\n\n2,758 \n\n\n2,642 \n\n\n5,714 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSelling and distrib...