Business
Interim results
Interim results.
About this update from Roebuck Food Group Plc
[{"type":"text","content":"\n RNS Number : 1097S Norish PLC 03 September 2010 \n\n \nNorish plc\n3 September 2010\nInterim results 2010\n \nResults\n \nNorish plc announces pre-tax profits of £208,000 for the six months ended 30 June 2010. This compares with pre-tax profits of £256,000 for the same period last year. Turnover from continuing operations increased by 1% to £4,983,000. Earnings per share increased to 2.1p compared to 2.0p for the same period last year.\n \nOur cold store business has not performed as well as expected in the first half of the year, primarily due to pressure on rates and increased power costs. \n \nOur ambient site at York has performed well in the period with increased contribution to the end of June.\n \nWe completed the acquisition of a new site at Leeds at a total cost of £790,000. This site which was previously leased was profitable for the first six months of the year and is a significant improvement on the previous year.\nWe currently use R22 refrigeration gas at 3 of our cold stores. R22 is a Hydrochlorofluorcarbon (HCFC) which is classed as an ozone depleting gas and with effect from 1st January 2010 it is no longer possible to purchase virgin R22. However, the use of re-cycled R22 is still permitted until 31st December 2014. We currently have an option to purchase 45,000 kg of re-cycled R22 at £4.05 per kg which is below the current market value. Under IAS39 we have accounted for a profit of £208,000 in the first half of the year.\n Dividend\nThe board does not recommend a payment of an Interim dividend.\n \nFinancial Strength\n \nShareholders funds at 30 June 2010 were £7,234,000 compared with £7,045,000 at 31 December 2009. Net debt at 30 June 2010 was £8,135,000, compared with a net debt of £6,822,000 at 31 December 2010. The increase in net debt was primarily due to the purchase of the Leeds Site for £790,000.\n \n \n \n \n \nTed O'Neill\nChairman\n \n \n3 September 2010\n\n\n \n\n\n\n\nNorish plc\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nConsolidated income statement \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor the six months ended 30 June 2010\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSix months\n\n\nSix months\n\n\nYear\n\n\n\n\n\n\n\n\n\n\nended\n\n\nended\n\n\nended\n\n\n\n\n\n\n\n\n\n\n30 Jun...