Fiske PLC
27 September 2000
FISKE PLC
YEAR ENDED 31ST MAY 2000
The company had an extremely good year with profits before tax of £1.5 million
compared with the previous year of £206,000. These excellent results did not
arise evenly over the year to 31st May, indeed if one looks at our Prospectus
issued in relation to the Placing of shares and the obtaining of our quotation
in March 2000, you will see that profits before tax for the 7 months to 31st
December 1999 were £459,000. It follows that the majority of our profits
arose in the second half year in line with a fairly buoyant Stock Market and
increased business.
In the Chairman's Statement with our Report and Accounts, I referred to our
ownership of 100,000 ordinary shares of 5p each in the London Stock Exchange.
This holding is carried in our balance sheet at nil value. I also said that
at 7th August 2000 those shares were trading at £20 per share. Since that
date we have taken the opportunity to dispose of 10% of our holding at £30 per
share to realise an exceptional profit before tax of £300,000. We shall
continue to keep this important investment under review.
Regarding the current year, I am happy to repeat the statement made on 16th
August to the effect that we look forward with confidence to another
successful year of trading.