FDN Ft Fdn

RNS Number:9926S
Fieldens PLC
14 March 2002



Interim Results for the
Six Months Ended 31 December 2001


Chairman's Statement


In the six months ended 31 December 2001 the Company made an unaudited loss
after taxation of £12,334 on turnover of £1,716,876 (six months ended 31
December 2000: unaudited loss after taxation £46,004 on turnover of £1,453,778).


The 18% increase in sales for the half year represents a nearly full recovery
from the downturn in sales experienced by our trading business in the same
period last year. Sales were ahead in all product groups except the Cheetah
bead-seating tool, where a delay in new supplies caused the filling of some
orders to be deferred.  The Honda ATV, lawn mower and power equipment division
made further progress, although with some reduction in margins.


The core operating business continues to be profitable. The interim loss
reported here includes professional costs incurred in the late Summer of 2001 in
relation to the corporate development opportunity which we had to abandon in
September and which I mentioned in the 2001 annual report.



Our net positive cash balance still exceeds £400,000. We have begun again to
build up an array of acquisition and development projects which we are
continuing to investigate.



D C Bonham

14 March 2002




Profit and Loss Account
For the Six Months Ended 31 December 2001




                                                  Six months ended       Six months ended        Six months ended
                                                  31 December 2001       31 December 2000                 30 June
                                                       (Unaudited)            (Unaudited)                    2001
                                                                                                        (Audited)
                                                             £                      £                       £

Sales                                                    1,716,876              1,453,778               3,173,530

Cost of sales                                            1,435,212              1,230,237               2,657,662

Gross profit                                               281,664                223,541                 515,868
Distribution costs                                         130,071                122,793                 239,148
Administrative expenses                                    172,020                165,906                 350,153

Operating loss                                            (20,427)               (65,158)                (73,433)

Other interest receivable and similar income                 6,356                  8,847                  18,006
Interest payable and similar charges                             0                      0                       0
                                                          (14,071)               (56,311)                (55,427)

Loss on ordinary activities before taxation
Taxation                                                     1,737                 10,307                   6,654
                                                          (12,334)               (46,004)                (48,773)

Loss on ordinary activities after taxation
Dividends                                                        0                      0                    (25)
                                                          (12,334)               (46,004)                (48,798)

Retained loss for the period
Earnings per share                                         (0.25)p                (0.92)p                 (0.98)p
Number of ordinary shares in issue                       5,000,000              5,000,000               5,000,000



The profit and loss account has been prepared on the basis that all operations
are continuing operations.



There are no recognised gains and losses other than the loss for the period.




Balance Sheet
As at:
                                      31 December 2001              31 December 2000              30 June 2001
                                         (Unaudited)                   (Unaudited)                  (Audited)
                                      £              £               £              £            £            £

Fixed Assets                                        540,704                       574,250                   531,627

Current Assets
Stock                                645,477                         667,066                   706,642
Debtors                              347,880                         317,093                   489,361
Cash at bank and in hand             417,196                         426,882                   421,996
                                   1,410,553                       1,411,041                 1,617,999

Creditors: amounts falling         (433,683)                       (452,590)                 (619,719)
due within one year


Net current assets                                  976,870                       958,451                   998,280

Total assets less current                         1,517,574                     1,532,701                 1,529,907
liabilities

Creditors: amounts falling                                0                             0                         0
due after more than one year
Provision for liabilities and                             0                             0                         0
charges
                                                  1,517,574                     1,532,701                 1,529,907

Capital and reserves
Called up share capital                             252,500                       252,500                   252,500
Capital redemption reserve                           47,500                        47,500                    47,500
Share premium account                               799,195                       799,195                   799,195
Profit and loss account                             418,379                       433,506                   430,712

Shareholders' funds
(including non-equity                             1,517,574                     1,532,701                 1,529,907
interests)



NOTES: The interim results to 31 December 2001, which are unaudited, have been
prepared in accordance with the accounting policies adopted in the account for
the year ended 30 June 2001.



The information set out in the interim report does not constitute annual
accounts within the meaning of section 240 of the Companies Act 1985. The
results for the year to 30 June 2001 are extracts from the published accounts
for that period which were audited and reported on without qualification and
have been delivered to the Registrar of Companies.



Earnings per share is calculated by dividing the loss for the period by the
5,000,000 5p ordinary shares in issue at each period end.



Copies of this statement are being sent to shareholders and are also available
from the registered office of the Company, Starhouse, Onehouse, Stowmarket,
Suffolk IP14 3EL.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

Ft Fdn (LSE:FDN)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Ft Fdn (LSE:FDN)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024