TABLE OF CONTENTS | $000 | ||
|---|---|---|
| Sales revenue (473,300 T/B + 18,000 joint venture) | 491,300 | |
| Cost of sales | ( W2) | 366,000 |
| Gross profit | 125,300 | |
| Operating expenses (per T/B) | 18,400 | |
| Impairment of non current asset (development costs 75,000 - 15,000 amortised = 60,000 - 40,000 net realisable value = 20,000) | ( W3) | 20,000 |
| Profit on the ordinary activities before interest | 86,900 | |
| Loan interest (5,000 paid +5,000 due) | 10,000 | |
| Profit before tax | 76,900 | |
| Taxation (15,000 current - 1,100 deferred tax) | 13,900 | |
| Net profit from ordinary activities for the period | ` | 63,000 |
| Ordinary shares | Revaluation reserve | Accumulated profits | Total | |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 | |
| Balance at 1 October 2001 | 100,000 | nil | 13,300 | 113,300 |
| Revaluation surplus on leasehold property ( W5) | 126,000 | 126,000 | ||
| Transfer to deferred tax ( W4) | (7,200) | (7,200) | ||
| Transfer to realised reserves re leasehold property ((126,000 surplus - 7,200 tax)/18 years left) | (6,600) | 6,600 | ||
| Net profit for the period (63,000 - 24,000 proposed dividend) | 39,000 | 39,000 | ||
| Proposed dividend (400,000 25c shares 6c) | 24,000 | 24,000 | ||
| Dividends paid | (15,500) | (15,500) | ||
| 100,000 | 112,200 | 67,400 | 279,600 |
| $000 | $000 | |
|---|---|---|
| Non-current assets | ||
| Development expenditure ($40m/4yrs = $10m net $30m) | 30,000 | |
| Property, plant... |
