 |  |  |
|
| |
 | |  |
|
| |||||||||
|
| PR Newswire · Aktuelle PR Newswire Nachrichten · Archiv< zurück < · Druckversion |
| 13.03.2006 08:04 |
ULSTER TELEVISION PLC: Preliminary Announcement |
Ulster Television plc
("UTV" or "the Company" or "the Group")
Preliminary Results
for the year ended 31 December 2005
UTV PROFIT UP BY 19% IN 2005
UTV, the multi media group which broadcasts television, radio and provides
internet and telephony services, announces its preliminary results for the year
to 31 December 2005.
Financial highlights:
* Group turnover up 46% at £92.7m (2004: £63.6m) reflecting the acquisition
of the Wireless Group plc
* Group pre-tax profit before exceptional items up 19% at £20.8m (2004: £
17.5m)
* Exceptional costs of £1.2m (2004: Nil) reflect restructuring costs within
the Group
* Television operating profit maintained at £15.4m (2004: £15.4m)
* Radio operating profit in Ireland up 56% to £3.8m (2004: £2.5m) after
charging pre operational expenses of £0.5m and operational losses of £0.2m
in respect of the new Belfast licence
* Radio operating profit in Great Britain up to £4.8m (2004: £0.2m loss)
after charging pre-operational expenses of £0.1m in respect of the new
Edinburgh licence
* New Media operating profit maintained at £0.8m (2004: £0.8m)
* Diluted Earnings per share increased by 18% to 27.14p (2004: 23.01p)
* A 10.7% increase in final dividend to 7.75p (2004: 7.00p) making a total
for the year of 12.50p (2004: 11.50p) an increase of 8.7%.
Operational highlights:
* Television advertising revenue reduced by 3.8% slightly underperforming the
ITV Network
* Radio advertising in Ireland grew by 17% on a like for like basis
* Radio advertising in Great Britain grew by 5% on a like for like basis
* Internet revenue grew by 54%
* On 6 June 2005 we purchased the Wireless Group plc for £96.9m (including
costs)
* On 21 February 2005 we purchased the local independent radio station
covering the Dundalk and Drogheda areas, LMFM, in the Republic of Ireland
for £7.5m (including costs)
* On 8 September 2005 we purchased the remaining two thirds of Juice FM in
Liverpool for £2.1m
* On 30 September 2005 we acquired a 50% holding in First Radio Sales for £
0.5m
* Successful launch of U105 in Belfast on 14 November 2005
John McCann, Group Chief Executive, UTV, said:
"It has been another strong year for the Group with solid performance across
the business. The most significant event of the year was the acquisition of the
former Wireless Group plc in June. Its integration into UTV Radio (GB) is
progressing well and it is enjoying buoyant advertising sales.
"Although the UK radio market overall is experiencing adverse trading
conditions, our stations are bucking the trend. Operating profit in Ireland is
up 56% to £3.8m and profit in Great Britain is £4.8m, reflecting the Wireless
acquisition. We are forecasting growth of 9% for the first quarter in 2006 in
Great Britain. This compares to an overall decline in the market of 11%. We are
expecting a similarly strong performance in our advertising revenues in
Ireland, with an increase of 9% in the first quarter. In addition to acquiring
Wireless, we also launched U105 Belfast during the year and since year end have
launched Talk 107 in Edinburgh. Radio is an exceptionally important area for
the Group and we are keen to continue growing the business, building on our
recent successes.
"Our television operating profit has been flat for the year at £15.4m, despite
a drop in revenue of 3.8%. First quarter revenues are expected to be down 8%
year on year reflecting a combination of a relatively weak market, declining
advertising revenue at ITV1 and Easter being in the second quarter. However, we
are forecasting a stronger second quarter in television, due to both the World
Cup and Easter occurring during the period.
"Although I believe the advertising market will continue to be difficult over
the coming months, I remain confident of UTV's ability to perform well in a
tough market. Our recent acquisitions are performing strongly and we are well
placed to benefit from the healthy Irish economy and the World Cup this
summer."
Key dates:
* 24 March 2006: record date for payment of dividends
* 26 May 2006: date of Annual General Meeting
* 12 June 2006: payment of dividends
Chairman's Statement
---------- ----------
Introduction
2005 was a landmark year for your company with the transformational development
of the radio division being the key milestone. The acquisition of the former
Wireless Group plc was the largest transaction that your company has ever
completed, catapulting it to being one of the larger radio groups in the UK.
Our leading position in Irish radio was further strengthened through the
acquisition of LMFM covering Dundalk and Drogheda and the winning of the new
licence for the greater Belfast area. These developments significantly broaden
our revenue base, both across media and geographically, and provide solid
foundations for future growth.
Results and Dividend
Operating profit before exceptional items was up by 35% to £24.8m (2004: £
18.4m), driven by an increase in radio division operating profit to £8.6m
(2004: £2.2m). Operating profit in television and new media were maintained at
£15.4m (2004: £ 15.4m) and £0.8m (2004: £0.8m) respectively. With a net
interest charge of £4.5m (2004: £0.9m), income from associates of £0.1m (2004:
£0.0m) and foreign exchange gains of £0.4m (2004: £0.0m) group profit before
exceptional items and taxation was up by 19% to £20.8m (2004: £17.5m). After
exceptional items of £1.2m (2004: £0.0m) and taxation of £5.1m (2004: £4.9m),
profits attributable to shareholders were £14.4m (2004: £12.6m). Fully diluted
earnings per share before exceptional items and foreign exchange gains were up
by 18% at 27.14p (2004: 23.01p).
Your Board recommends a final dividend of 7.75p (2004: 7.00p) which represents
a 10.7% increase over last year making a total for the year of 12.50p (2004 :
11.5p), an increase of 8.7%. The final dividend will be paid on 12 June 2006 to
all shareholders on the Register at the close of business on 24 March 2006. The
Annual General Meeting will be held on 26 May 2006.
Television
The difficult trading conditions of the television advertising marketplace in
the first half continued into the second six months of 2005. Television
advertising revenue for the year as a whole was down by 3.8%, slightly
underperforming the ITV network. Despite this, television operating profit was
maintained at £15.4m (2004: £15.4m) as the reduction in our licence fee from £
1.9m to £1.1m and other cost savings of £0.9m helped to offset the fall in
revenue. Our new licence terms apply to the period 1 January 2005 to 31
December 2014 and encompass an unchanged variable payment of 5% of our
qualifying revenue and a reduction in the flat fee element from £0.61m in 2004
to £0.12m in 2005. The variable elements of the licence fee applies only to
revenue derived from analogue transmission and, therefore, as the number of
digital homes grew in 2005, this part of our licence fee also reduced, giving
an overall reduction in the fee of £0.8m.
Radio
The acquisition of LMFM in Dundalk/Drogheda, Juice FM in Liverpool and, in
particular, the Wireless Group, almost quadrupled turnover in our radio
division to £38.9m (2004 : £10.9m). On a like-for-like basis, revenue grew by
17% and 5% in our radio divisions in Ireland and GB respectively. Radio
operating profits also grew substantially in Ireland and GB rising to a
combined total of £8.6m (2004: £2.2m) after deduction of pre-operational
expenditure of £0.6m (2004: £0.0m) in respect of our new licences. Our new
station for Belfast and the surrounding area launched on 14 November 2005
broadcasting a mix of music and speech to some 800,000 adults, while our new
station for the greater Edinburgh area, broadcasting to approximately 1 million
adults, launched on 14 February 2006. The latter station is the first UK local
station outside of London to provide a purely speech-based service.
New Media
Turnover in our new media division grew by 54% to £8.1m (2004: £5.3m). This
increase was predominately driven by broadband and telephony services and our
ability to offer customers the convenience of a single bill for both services.
Broadband customer numbers grew by 85% in the year, while telephony customer
numbers increased by 120%. Despite increasing customer acquisition and
wholesale costs, operating profits were maintained at £0.8m (2004: £0.8m).
Prospects
Total UK television advertising revenue is forecast to be up by about 2% to 3%
in 2006. However, ITV1's fall in its share of commercial impacts in 2005 will
put pressure on ITV1 network revenue in 2006 under the Contract Rights Renewal
(CRR) formula agreed by Granada and Carlton as part of their merger
undertakings. Despite the stimulus of the soccer World Cup, the expectation is
that ITV1's advertising revenue could be down by 5% to 7% in 2006. However,
some 50% of our television advertising revenue derives from the marketplaces in
Ireland and is not subject to the CRR mechanism. With continuing high local
viewership the demand for advertising from within Ireland is strong and is
expected to help mitigate weakness in the GB marketplace in the year.
The comparative for the first quarter of 2006 includes Easter and consequently
our expectation is that television advertising revenue for the first 3 months
will be down by about 8%, albeit our share of network revenue will increase.
The second quarter, which will include both Easter and the football World Cup,
is expected to be much stronger with April forecast to be up by 4%.
In Ireland, the radio stations which we own, or sell airtime on behalf of, now
broadcast to all the key urban areas on the island, accounting for more than
two-thirds of the population.
Our listenership strength in each of these local areas coupled with our ability
to offer a quasi-national urban proposition to our advertisers continues to
fuel demand for our airtime in Ireland which is expected to be up by about 9%
on a like-for-like basis in the first three months of 2006, with April forecast
to be up by 12%.
The UK radio market is currently experiencing adverse trading conditions and,
as a whole, is expected to decline by about 11% in the first three months of
2006. However, our radio operations here, both at local and national level, are
bucking the market trend and are forecast to be up by about 9% in the three
months to 31 March 2006 with April forecast to be up by 20%.
talkSPORT, our national UK radio licence, is performing particularly well. In
the first quarter of 2006, advertising and sponsorship revenue is expected to
be up by 20% and with the soccer World Cup beginning in June, strong demand is
anticipated in the second quarter.
In our local radio stations in GB, we are investing in staff development and
audience research as part of our plan to improve listenership and advertising
performance. While this investment is not a short-term fix, progress is
encouraging and, on a like-for-like basis, advertising revenue in those
stations is expected to be up by 2% in the first quarter of 2006. Our new radio
stations in Belfast and Edinburgh have launched successfully and are forecast
to break even in their third year of operation. In 2006, budgeted losses at
these two stations are expected to total £1.8m.
Strong growth in broadband and telephony customers is continuing and in the
first quarter, turnover is expected to be up by 20%. As anticipated, UTV Talk
will begin to contribute to the overall profitability of the new media division
and, as a result, an increase in profitability is expected in 2006.
People
It is to the great credit of all within the Company that the significant
developments to which I have referred above were successfully undertaken
without impacting upon ongoing operational activities. On your behalf, I thank
the Board, management and staff for their continuing efforts on behalf of your
company.
I would like to pay tribute to Alan Bremner, our Director of Television, who
will retire from the Company on 31 March 2006 after eighteen years of dedicated
service. His colleagues and I wish him every happiness in his retirement.
Group Income Statement
For the year ended 31 December 2005
2005 2004
Notes £000 £000
Continuing Operations
Revenue 2 92,741 63,632
Operating costs (67,934) (45,205)
----------- -----------
Operating Profit from continuing 2 24,807 18,427
operations before tax and finance
costs
Exceptional costs 3 (1,235) -
Share of results of associates 109 -
accounted for using the equity
method
----------- -----------
Profit from continuing operations 23,681 18,427
before tax and finance costs
Finance revenue 438 147
Finance costs (4,941) (1,047)
Foreign exchange gain 413 -
----------- -----------
Profit before tax 19,591 17,527
Taxation 4 (5,101) (4,937)
----------- -----------
Profit for the year 2 14,490 12,590
----------- -----------
Attributable to:
Equity holders of the parent 14,356 12,590
Minority interests 134 -
----------- -----------
14,490 12,590
----------- -----------
Earnings per share
Diluted 5 26.09p 23.01p
Basic 5 26.38p 23.36p
Adjusted 5 27.44p 23.36p
Diluted adjusted 5 27.14p 23.01p
----------- -----------
Group Statement of Recognised Income and Expense
For the year ended 31 December 2005
2005 2004
Notes £000 £000
Income and expenses recognised
directly in equity
Exchange difference on translation (1,418) 16
of foreign operations
Exchange difference on loans hedging 1,287 223
net investment in foreign
subsidiaries
Net actuarial gain on defined 943 831
benefit pension schemes
Losses on cash flow hedges taken to (119) -
equity
Revaluation of share of assets 1,248 -
previously acquired in AR(UK)
Tax on items taken directly to or (283) (249)
transferred from equity
----------- -----------
Net income recognised directly in 1,658 821
equity
Profit for the year 2 14,490 12,590
----------- -----------
Total recognised income and expense 16,148 13,411
for the year
----------- -----------
Attributable to:
Equity holders of the parent 16,014 13,411
Minority interests 134 -
----------- -----------
Total recognised income and expense 8 16,148 13,411
----------- -----------
Group Balance Sheet
At 31 December 2005
2005 2004
Notes £000 £000
ASSETS
Non-current assets
Property, plant and equipment 10,938 8,908
Intangible assets 205,165 48,827
Investments accounted for using the 268 -
equity method
Other investments 32 -
Deferred tax asset 8,725 2,171
----------- -----------
225,128 59,906
----------- -----------
Current assets
Inventories 832 825
Trade and other receivables 29,367 15,208
Cash and short term deposits 7 6,470 7,707
----------- -----------
36,669 23,740
----------- -----------
TOTAL ASSETS 261,797 83,646
----------- -----------
EQUITY AND LIABILITIES
Equity attributable to equity
holders of the parent
Equity share capital 7,824 6,584
Foreign currency reserve 108 239
Cash flow hedge reserve (119) -
Retained earnings 40,325 29,767
----------- -----------
48,138 36,590
Minority Interest 127 (7)
----------- -----------
TOTAL EQUITY 8 48,265 36,583
----------- -----------
Non-current liabilities
Financial liabilities 7 119,935 17,772
Pension liability 6,320 7,235
Provisions 1,071 13
Deferred tax liabilities 44,646 177
----------- -----------
171,972 25,197
----------- -----------
Current liabilities
Trade and other payables 26,968 10,675
Financial liabilities 7 12,736 8,705
Tax payable 1,811 2,459
Provisions 45 27
----------- -----------
Net current liabilities 41,560 21,866
----------- -----------
TOTAL LIABILITIES 213,532 47,063
----------- -----------
TOTAL EQUITY AND LIABILITIES 261,797 83,646
----------- -----------
Group Cash Flow Statement
For the year ended 31 December 2005
2005 2004
Note £000 £000
Operating activities
Group operating profit from continuing 2 24,807 18,427
operations before tax and finance costs
Adjustments to reconcile group
operating profit to net cash flows from
operating activities
Depreciation of property, plant and 1,746 1,589
equipment
Difference between pension (300) 37
contributions paid and amounts
recognised in the Income Statement
Increase in inventories 7 75
Increase in trade and other receivables (349) (2,110)
Increase in trade and other payables 1,705 3,224
Movement in provisions (27) (27)
Profits from sale of property, plant (16) (8)
and equipment
----------- -----------
Cash generated from operations before 22,201 21,207
exceptional costs
Exceptional costs (1,105) -
Tax paid (4,338) (4,703)
----------- -----------
Net cash inflow from operating 22,130 16,504
activities
----------- -----------
Investing activities
Interest received 431 145
Proceeds on disposal of property, plant 56 60
and equipment
Purchase of property, plant and (1,868) (1,301)
equipment
Acquisition of subsidiaries, net of (103,811) -
cash acquired
Acquiree transaction costs settled (5,566) -
Acquisition of joint ventures, net of (366) -
cash acquired
----------- -----------
Net cash flows from investing (111,124) (1,096)
activities
----------- -----------
Financing activities
Borrowing costs (6,557) (1,072)
Proceeds from exercise of share options 236 -
Dividends paid to equity shareholders (6,395) (5,596)
Repayment of borrowings (35,912) (6,018)
Proceeds from borrowings 136,278 -
----------- -----------
Net cash flows used in financing 87,650 (12,686)
activities
----------- -----------
Net increase in cash and cash (1,344) 2,722
equivalents
Net foreign exchange differences (87) 3
Cash and cash equivalents at 1 January 7,707 4,982
----------- -----------
Cash and cash equivalents at 31 6,276 7,707
December
----------- -----------
Notes to the Group Financial Statements
For the year ended 31 December 2005
1. Basis of preparation
The Group's financial statements consolidate those of Ulster Television plc,
and its subsidiaries (together referred to as the "Group") and the Group's
interest in associates and jointly controlled entities.
As required by EU law the Group's accounts have been prepared in accordance
with International Financial Reporting Standards adopted by the International
Accounting Standards Board (IASB) and interpretations issued by the
International Financial Reporting Interpretations Committee of IASB as adopted
by the EU ("IFRS"). These are the Group's first consolidated financial
statements to be prepared under the IFRS and IFRS 1 "First-time Adoption of
International Financial Reporting Standards" has been applied.
The accounts are principally prepared on the historical cost basis except where
other bases are applied under the Group's accounting policies.
The comparative information presented in these accounts has been restated and
represented under IFRS. In respect of financial instruments, the Group's
policy, as permitted under IFRS 1, has been to adopt IAS 32 (Financial
Instruments: Recognition and Measurement) from 1 January 2005. Comparatives
have therefore not been restated to reflect the requirements of IAS 32 and IAS
29 and continue to be prepared in accordance with UK GAAP.
The financial information set out herein does not constitute the Company's
statutory report and accounts for the year ended 31 December 2005.
2. Revenue and segmental analysis
Revenue represents the amounts derived from the provision of goods and services
which fall within the Group's ordinary activities, stated net of value added
tax. Revenue from television and radio activities is generated from advertising
and sponsorship. Revenue from New Media is generated from the provision of
internet services. The amount of revenue derived from the sale of goods or
other activities is immaterial and therefore has not been separately disclosed.
Transfer prices between business segments are set on an arm's length basis in a
manner similar to transactions to third parties.
The Group's primary reporting format is business segment and its secondary
format is geographical segments. The operating businesses are organised and
managed separately according to the nature of the services provided, with each
segment representing a strategic business unit that offers different services
and serves different markets.
Business Segments
The Group operates in four principal areas of activity - commercial television,
radio in GB, radio in Ireland and new media - all of which are continuing
operations. The following tables present revenue and profit information
regarding the Group's business segments for the years ended 31 December 2005
and 2004.
Revenue
Year ended 31 December 2005
Television Radio GB Radio New Media Total
Ireland
£000 £000 £000 £000 £000
Sales to third 45,752 25,112 13,738 8,139 92,741
parties
Intersegmental 608 745 482 60 1,895
sales
----------- ----------- ----------- ----------- -----------
Total segmental 46,360 25,857 14,220 8,199 94,636
revenue
----------- ----------- ----------- ----------- -----------
Year ended 31 December 2004
Television Radio GB Radio New Media Total
Ireland
£000 £000 £000 £000 £000
Sales to third 47,464 478 10,404 5,286 63,632
parties
Intersegmental 421 - 61 62 544
sales
----------- ----------- ----------- ----------- -----------
Total segmental 47,885 478 10,465 5,348 64,176
revenue
----------- ----------- ----------- ----------- -----------
Profit
Year ended 31 December 2005
Television Radio GB Radio New Media Total
Ireland
£000 £000 £000 £000 £000
Group operating 15,359 4,799 3,845 804 24,807
profit for the
year
Exceptional costs, (266) (750) - - (1,016)
allocable to a
business segment
----------- ----------- ----------- ----------- -----------
15,093 4,049 3,845 804 23,791
Share of results - 109 - - 109
of associates
----------- ----------- ----------- ----------- -----------
15,093 4,158 3,845 804 23,900
----------- ----------- ----------- -----------
Other exceptional (219)
costs
Net finance costs (4,503)
Foreign exchange 413
-----------
Profit before 19,591
taxation
Income tax expense (5,101)
-----------
Profit for the 14,490
year
-----------
Year ended 31 December 2004
Television Radio GB Radio New Media Total
Ireland
£000 £000 £000 £000 £000
Group operating 15,357 (210) 2,457 823 18,427
profit for the
year
----------- ----------- ----------- -----------
Net finance costs (900)
-----------
Profit before 17,527
taxation
Income tax expense (4,937)
-----------
Profit for the 12,590
year
-----------
3. Exceptional items
2005 2004
£000 £000
Fundamental restructuring costs 1,235 -
----------- -----------
Following the acquisition of The Wireless Group plc on 6 June 2005, the staff
structure within the UTV Group was reviewed and the fundamental rationalisation
resulted in redundancy costs and other related costs.
4. Tax on profit on ordinary activities
2005 2004
£000 £000
Current income tax:
UK corporation tax on profits for the period 3,126 4,673
Adjustments in respect to previous years (75) (38)
----------- -----------
3,051 4,635
Foreign tax:
ROI corporation tax on profits for the period 580 342
Adjustments in respect to previous years - (1)
Share of joint ventures' current tax 59 -
----------- -----------
Total current tax 3,690 4,976
Deferred tax:
Origination and reversal of timing differences 1,418 (39)
Adjustments in respect of previous periods (7) -
----------- -----------
Tax charge in the income statement 5,101 4,937
----------- -----------
5. Earnings per ordinary share
Basic earnings per share is calculated based on the profit for the financial
year attributable to equity holders of the parent and on the weighted average
number of shares in issue during the period.
Adjusted earnings per share is calculated based on the profit for the financial
year attributable to equity holders of the parent adjusted for the exceptional
items and foreign exchange recorded in the year. This calculation uses the
weighted average number of shares in issue during the period.
Diluted earnings per share is calculated based on profit for the financial year
attributable to equity holders of the parent after adjusting for the net
interest payable on the Convertible Loan Notes. The weighted average number of
shares is adjusted to reflect the dilutive potential of the Convertible Loan
Notes and the Share Option Schemes.
Diluted adjusted earnings per share is calculated based on profit for the
financial year attributable to equity holders of the parent before exceptional
items and foreign exchange, and after adjusting for the net interest payable on
the Convertible Loan Notes. The weighted average number of shares is adjusted
to reflect the dilutive potential of the Convertible Loan Notes and the Share
Option Schemes.
The following reflects the income and share data used in the basic, adjusted,
diluted and diluted adjusted earnings per share calculations:
Net Profit
2005 2004
£000 £000
Net profit attributable to equity holders 14,356 12,590
Net interest on convertible loan notes - 24
------- -------
Net profit attributable to ordinary 14,356 12,614
shareholders for diluted earnings per share
Exceptional costs 1,235 -
Foreign exchange gains (413) -
Taxation relating to above items (247) -
------- -------
Net profit attributable to ordinary 14,931 12,614
shareholders for adjusted diluted earnings per
share
Net interest on convertible loan notes - (24)
------- -------
Net profit attributable to ordinary 14,931 12,590
shareholders for adjusted earnings per share
----------- -----------
Weighted average number of shares
2005 2004
Thousands Thousands
Weighted average number of shares for basic and 54,421 53,904
adjusted earnings per share
Effect of dilution:
- Share options 597 609
- Convertible Loan Notes - 314
----------- -----------
Adjusted weighted average number of ordinary 55,018 54,827
shares for diluted earnings per share
----------- -----------
Earnings per share
Diluted 26.09p 23.01p
----------- -----------
Basic 26.38p 23.36p
----------- -----------
Adjusted 27.44p 23.36p
----------- -----------
Diluted adjusted 27.14p 23.01p
----------- -----------
6. Dividends
2005 2004
£000 £000
Equity dividends on ordinary shares
Declared and paid during the year
Final for 2004: 7.00p (2003: 5.90p) 3,803 3,156
Interim for 2005: 4.75p (2004: 4.50p) 2,592 2,440
------ ------
Dividends paid 6,395 5,596
----------- -----------
Proposed for approval at Annual General Meeting
(not recognised as a liability at 31 December)
Final dividend for 2005: 7.75p (2004: 7.00p) 4,227
-----------
7. Net Debt
2005 2004
£000 £000
Current
Cash and cash equivalents 6,470 7,707
Bank overdrafts (194) -
Current instalments due on bank loans (12,410) (8,705)
Current obligations under finance leases and (14) -
hire purchase contracts
----------- -----------
(6,148) (998)
----------- -----------
Non-current
Non-current instalments due on bank loans (119,841) (17,772)
Non-current obligations under finance leases (94) -
and hire purchase contracts
----------- -----------
(119,935) (17,772)
----------- -----------
Net Debt (126,083) (18,770)
----------- -----------
The borrowings at 31 December 2005 are stated net of £1,574,000 (2004: Nil) of
deferred financing costs.
Current financial liabilities stated in the balance sheet also include a
balance of £118,000 relating to interest rate swaps (2004: Nil).
8. Reconciliations of movements in equity
Attributable to equity holders Minority
of the parent Interest Total
__________________________________
Equity Foreign Cash flow
share currency hedge Retained
capital reserve reserve earnings
£000 £000 £'000 £000 £000 £000
Balance at 31 December 4,900 - - 22,191 (7) 27,084
2003
Conversion of Loan Notes 1,684 - - - - 1,684
Total recognised income - 239 - 13,172 - 13,411
and expense in the year
Dividends - - - (5,596) - (5,596)
----- ----- ------- ------ ------ ------
Balance at 31 December 6,584 239 - 29,767 (7) 36,583
2004
Exercise of share 236 - - - - 236
options
Shares issued on 1,004 - - - - 1,004
acquisition of
subsidiary
Total recognised income - (131) (119) 16,264 134 16,148
and expense in the year
Dividends - - - (6,395) - (6,395)
Reserves on the wind up - - - 689 - 689
of the Wireless Group
Employee Benefits Trust
------ ------ ----- ------ ----- ------
Balance at 31 December 7,824 108 (119) 40,325 127 48,265
2005
------ ------ ----- ------ ----- -----
This summary has been approved by our Directors for release to the Press today
13 March 2006 and the full printed Annual Report and Accounts will be posted to
Shareholders and Stock Exchanges on 26 April 2006. Copies will be available to
the public at the Company's registered office Ormeau Road, Belfast BT7 1EB from
that date.
END
© 2009 PR Newswire |
| Diesen Artikel bookmarken bei ...
|
| Wie bewerten Sie die aktuell angezeigte Seite? sehr gut 1 2 3 4 5 6 schlecht |
|
Startseite ·
Nachrichten ·
Aktienkurse ·
Xetra-Orderbuch ·
Nachrichten-Watchlist Ad hoc-Mitteilungen · Medien · Impressum | AGB | Disclaimer · Presse · Mediadaten |
RSS-News von FinanzNachrichten.de kostenlos für Ihren Browser und Ihre Homepage  |
| © 2000-2009 FinanzNachrichten.de: Aktie, Aktien, Aktienkurse, Nachrichten FinanzNachrichten.de übernimmt keine Haftung für die Richtigkeit der Angaben! Kurse: Lang & Schwarz Wertpapierhandel AG · News-Kooperation: Investor Verlag |