Released: 29/07/2009
Part 2 : For preceding part double-click [nRn1c4322W]
for the year ending 31 December 2009.
10. EARNINGS PER SHARE
Six months Six months
to 30 June to 30 June
2009 2008
Basic loss per share (pence) (0.1) (0.1)
Diluted loss per share (pence) (0.1) (0.1)
Adjusted earnings per share (pence) 1.8 0.8
Adjusted diluted earnings per share (pence) 1.8 0.8
Basic earnings per share
The basic earnings per share has been calculated on the loss after tax
attributable to ordinary shareholders for the six months of £53,000 (June 2008:
Loss of £21,000) and 61,948,231 (June 2008: 60,942,618) ordinary shares being
the weighted average number of shares in issue during the period.
Diluted earnings per share
The diluted earnings per share has been calculated on the loss after tax
attributable to ordinary shareholders for the six months of £53,000 (June 2008:
Loss of £21,000) and 61,966,493 (June 2008: 62,020,537) ordinary shares being
the diluted weighted average number of shares in issue during the period.
Adjusted earnings per share
The adjusted earnings per share has been calculated on profits after tax
attributable to ordinary shareholders, adjusted to add back share option
charges, amortisation of intangible assets and taxation on joint ventures of
£1,093,000 (June 2008: £510,000) and 61,948,231 (June 2008: 60,942,618) ordinary
shares being the weighted average number of shares in issue during the period.
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)
10. EARNINGS PER SHARE (CONTINUED)
Adjusted diluted earnings per share
The adjusted diluted earnings per share has been calculated on profits after tax
attributable to ordinary shareholders, adjusted to add back share option
charges, amortisation of intangible assets and taxation on joint ventures of
£1,093,000 (June 2008: £510,000) and 61,966,493 (June 2008: 62,020,537) ordinary
shares being the diluted weighted average number of shares in issue during the
period.
Weighted average number of ordinary shares (diluted):
Six months Six months
to 30 June to 30 June
2009 2008
Weighted average number of ordinary shares 61,948,231 60,942,618
Effect of share options 18,262 1,077,919
Weighted average number of ordinary shares (diluted) 61,966,493 62,020,537
11. INTANGIBLE FIXED ASSETS
Goodwill Trademarks and Lists Total
£000
£000 £000
Cost:
At 1 January 2009 87,727 22,524 110,251
Acquisitions 1,075 - 1,075
Additions 66 - 66
Disposals (178) - (178)
Adjustments to contingent consideration (1,095) - (1,095)
Foreign exchange adjustments (6,803) (2,376) (9,179)
At 30 June 2009 80,792 20,148 100,940
Amortisation:
At 1 January 2009 - 3,215 3,215
Amortisation charge - 1,143 1,143
Foreign exchange adjustments - (147) (147)
At 30 June 2009 - 4,211 4,211
Net book values:
At 30 June 2009 80,792 15,937 96,729
At 31 December 2008 87,727 19,309 107,036
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (CONTINUED)
12 DIVIDENDS
The following dividends were paid and proposed by the Group:
For the six months ended 30 June
2009 2008
£000 £000
Dividend paid
2008/2007 final dividend (4.0p/3.5p per share) 2,444 2,130
Dividend proposed
Dividend proposed in the period (2.0p/2.0p per share) 1,306 1,223
13. FOREIGN EXCHANGE TRANSLATION DIFFERENCES
Other Comprehensive Income includes foreign exchange translation differences of
£9.5 million (2008: £1.5 million) relating to the retranslation of foreign
currency denominated net assets, including goodwill.
14. SHARE BASED PAYMENTS
The Group's management awards share options to directors and employees, from
time to time, on a discretionary basis. During the six months ended 30 June
2009, no share options were issued.
15. RELATED PARTIES
As at 30 June 2009, directors of the company controlled 16.0% (31 December 2008:
16.6%) of the voting shares of the company.
Executive officers also participate in the Group's share option programme and
share acquisition plan.
Responsibility Statement of the Directors in respect of the half-yearly
financial report
We confirm that to the best of our knowledge:
* the condensed set of financial statements, which has been prepared in
accordance with the applicable set of accounting standards, gives a true and
fair view of the assets, liabilities, financial position and profit or loss
of the Group;
* the interim management report includes a fair review of the information
required by:
(a) DTR 4.2.7R of the Disclosure and Transparency Rule, being an
indication of important events that have occurred during the
first six months of the financial year and their impact on
the condensed set of financial statements; and a description
of the principal risks and uncertainties for the remaining
six months of the year; and
(b) DTR 4.2.8R of the Disclosure and Transparency Rules, being
related party transactions that have taken place in the
first six months of the current financial year and that have
materially affected the financial position or performance of
the entity during that period; and any changes in the
related party transactions described in the last annual
report that could do so.
Principal risks and uncertainties
The Board consider the principal risks and uncertainties relating to the Group
for the next six months to be the same as detailed in our last Annual Report and
Accounts to 31 December 2008. Full details of the risks and uncertainties are
detailed in the Business and Financial Review section of those accounts.
The principal risks to the business are:-
* Economic factors affecting customer confidence
* Loss of customers
* Key management losses
Neville Buch
Douglas Emslie
Chairman
Group Managing Dire
This information is provided by RNS
The company news service from the London Stock Exchange
END
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