RNS Number:8826R
G.R. Holdings PLC
28 September 2005
G.R. (Holdings) plc
Consolidated Profit and Loss Account
For the year ended 30 June 2005
2005 2004
# # #
Turnover
Continuing operations 696,991 612,458
Discontinued operations 2,559,208 3,852,838
3,256,199 4,465,296
Operating loss
Continuing operations (408,892) (139,814)
Discontinued operations (126,924) (346,594)
(535,816) (486,408)
Exceptional profit on disposal 7,183,308 -
of business
Profit / (loss) on ordinary 6,647,492 (486,408)
activities before interest
Interest receivable and similar 298,736 125,394
income
Interest payable and similar (5,450) (10,404)
charges
293,286 114,990
Profit / (loss) on ordinary 6,940,778 (371,418)
activities before taxation
Tax on profit /(loss) on (241,397) (400)
ordinary activities
Profit / (loss) on ordinary 6,699,381 (371,818)
activities after taxation
Dividends (202,266) (202,265)
Profit / (loss) for the 6,497,115 (574,083)
financial year
Earnings per share 49.6p (4.1)p
G.R. (Holdings) plc
Consolidated Balance Sheet
As at 30 June 2005
2005 2004
# # #
Fixed assets
Intangible assets 1 1
Tangible assets 364,352 1,156,091
Investments 1,468,377 1,641,947
1,832,730 2,798,039
Current assets
Stocks 79,748 188,166
Debtors 149,707 235,701
Cash at bank and in hand 11,759,771 3,691,233
11,989,226 4,115,100
Creditors : amounts
falling due
within one year 220,146 549,826
Net current assets 11,769,080 3,565,274
Total assets less 13,601,810 6,363,313
current liabilities
Creditors : amounts
falling due after
more than one year - 1,321
Provision for
liabilities and charges
Deferred taxation 143,000 -
13,458,810 6,361,992
Capital and reserves
Called up share capital 2,208,513 2,208,513
Capital redemption 425,000 425,000
reserve
Revaluation reserve 606,344 -
Share premium account 198,396 198,396
Profit and loss account 10,020,577 3,530,083
Shareholders funds 13,458,810 6,361,992
G.R (Holdings) plc
Notes:
1. The summary of results for the year ended 30 June 2005 does not constitute
full financial statements within the meaning of Section 240 of the Companies
Act 1985.
2. The board has decided to declare a final dividend of 1.0p, (2004 - nil) for
the year ending 30 June 2005 on the ordinary shares of the company. This
will be paid on 21 November 2005 to those shareholders on the Register of
Members on 21 October 2005.
3. The calculation of earnings per share is based on a profit of #6,940,778
(2004: #371,818 - loss) being the profit after taxation and after deducting
preference dividends, and on 13,168,100 ordinary shares of 5p each (2005:
13,168,100).
4. The Annual General Meeting will be held at 11.00am on 10 November 2005 at the
offices of Evolution Securities Limited, 100 Wood Street, London EC2V 7AN.
5. Copies of the 2005 Report and Accounts are being sent to shareholders in due
course. Further copies are available from the Company's registered office at
7 Queripel House, 1 Duke of York Square, London SW3 4LY.
G.R. (HOLDINGS) PLC
PRELIMINARY ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2005
CHAIRMAN'S STATEMENT
The pre-tax profit of the group on ordinary activities for the year ended 30
June 2005 was #6,940,778 (#371,418 loss - 2004). After taxation the profit
attributable to members of the company is #6,669,381 against a loss of #371,818
for the previous year. The turnover on continuing operations increased from
#612,458 to #696,991.
As you are aware after 40 years trading, the group disposed of its business,
Grayshott Hall Health Fitness Retreat, on 17 February 2005 for a gross cash
consideration of #8,900,000. The trading position for the year still showed a
loss up to the disposal date of #126,924, despite a refurbishment of the spa,
which caused some disruption.
Morland's turnover increased up by approximately 14%, which gave rise to a small
loss for the year. The loss before interest, however, was a #50,576 improvement
on the previous year.
At the year-end we were still involved as limited partners in 12 partnerships in
land in the USA. During the year two of the partnerships disposed of the
entirety of their holding, of which partial sales had been made in previous
years in one of these partnerships. Disposals during the year resulted in a
profit of #25,338.
At the year-end, our stock has decreased by #108,418. Debtors have decreased by
#85,994 whilst creditors have also decreased by #188,001. Net cash at bank and
in hand has increased by #8,068,538.
Since the year-end, the trading position of Morlands has continued to improve.
With regard to our American investments, one of the partnerships sold the
balance of its holding, unfortunately giving rise to an overall loss of
approximately #60,000, for our interest in this partnership.
For the past seven months the Board has looked to acquire new businesses,
however, without success to date. In the circumstances the Board is also giving
consideration to a reorganisation of the Group in conjunction with its parent
company. The Board has not yet finalised its conclusions.
Finally, I would like to thank my co-director and all the staff for their
support and involvement during the year.
A.D. Stalbow
Chairman
27 September 2005
This information is provided by RNS
The company news service from the London Stock Exchange
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