Interim Results
July 29 2003 - 10:41AM
UK Regulatory
BW20030729002077 20030729T134134Z UTC
( BW)(C.A.-SPERATI)(SPR) Interim Results
Business Editors
UK REGULATORY NEWS
LONDON--(BUSINESS WIRE)--July 29, 2003--
C A Sperati (The Special Agency) Plc
INTERIM REPORT
For the 6 month period ended
30 April 2003
MANAGEMENTS' COMMENTARY
REVIEW OF BUSINESS
Turnover has risen by some 11% during the first half of the year and
profit after tax by 8%. Pressure continues on margins in difficult
trading conditions. Volatile currency movements have also contributed
to trading difficulties in pricing. The second half of the year
indicates that a similar trend is continuing.
Mr. Nash, having served the company for 37 years has retired from the
Board and Mr. Aubrey Lilley has been appointed a director of the
company.
By order of the board
John Atkinson
Managing Director
C A Sperati (The Special Agency) Plc
PROFIT AND LOSS ACCOUNT
for the period ended 30 April 2003
Unaudited Unaudited Audited
6 months 6 months Year to
30 April 30 April 31 October
2003 2002 2002
� � �
TURNOVER 425,547 384,096 872,116
Cost of sales 260,245 238,026 551,743
---------------------------
Gross profit 165,302 146,070 320,373
Other operating expenses (167,968) (151,106) (318,896)
Other operating income 6,641 7,780 10,638
---------------------------
OPERATING PROFIT 3,975 2,744 12,115
Investment income 8,626 8,967 17,378
---------------------------
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION 12,601 11,711 29,493
Taxation 2,142 2,067 4,879
---------------------------
PROFIT ON ORDINARY ACTIVITIES
AFTER TAXATION 10,459 9,644 24,614
Dividends - - 12,500
---------------------------
RETAINED PROFIT FOR THE PERIOD 10,459 9,644 12,114
===========================
EARNINGS PER ORDINARY SHARE OF 50p 10.5p 9.6p 12.1p
===========================
C A Sperati (The Special Agency) Plc
BALANCE SHEET
for the 6 month period ended 30 April 2003
Unaudited Unaudited Audited
6 months 6 months Year to
30 Apr 30 Apr 31 October
2003 2002 2002
� � �
FIXED ASSETS
Tangible assets 93,138 85,201 79,943
CURRENT ASSETS
Stocks 109,233 92,189 131,777
Debtors 148,217 141,776 180,974
Cash at bank and in hand 565,293 573,620 555,721
---------------------------------------
822,743 807,585 868,472
CREDITORS:
Amounts falling due within one year 123,624 112,884 166,617
---------------------------------------
NET CURRENT ASSETS 699,119 694,701 701,855
---------------------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES 792,257 779,902 781,798
PROVISION FOR LIABILITIES AND CHARGES 1,173 1,747 1,173
---------------------------------------
791,084 778,155 780,625
=======================================
CAPITAL AND RESERVES
Called up share capital 50,000 50,000 50,000
Revaluation reserve 22,128 22,128 22,128
Profit and loss account 718,956 706,027 708,497
---------------------------------------
SHAREHOLDERS' FUNDS 791,084 778,155 780,625
=======================================
Approved by the board on 29 July 2003
John Atkinson
Managing Director
C A Sperati (The Special Agency) Plc
CASH FLOW STATEMENT
for the period ended 30 April 2003
Unaudited Unaudited Audited
6 months 6 months Year to
30 April 30 April 31 October
2003 2002 2002
� � �
Operating Profit 3,975 2,744 12,115
Depreciation of tangible
assets 4,874 5,240 10,498
Decrease/(Increase) in stock 22,544 24,678 (14,910)
Decrease/(Increase) in debtors 32,757 73,620 34,422
(Decrease)/Increase in
creditors (45,135) (63,203) 19,399
--------------------------------------------
Net cash inflow
from operating activities 19,015 43,079 61,524
============================================
Returns on investments and
servicing of finance
Interest Received 8,626 8,967 17,378
============================================
Taxation
Corporation tax paid - - (19,755)
=============================================
Capital expenditure
Purchase of fixed assets (18,069) (613) (613)
Sale of fixed assets - - -
--------------------------------------------
(18,069) (613) (613)
============================================
Equity dividend paid - - (25,000)
============================================
Increase in cash
in period 9,572 51,433 33,534
============================================
Reconcilliation of net
cashflow to movement in net
funds
Increase in cash 9,572 51,433 33,534
Net funds at 1 November 2002 555,721 522,187 522,187
--------------------------------------------
Net funds at 30 April 2003 565,293 573,620 555,721
============================================
C A Sperati (The Special Agency) Plc
INTERIM REPORT
for the 6 month period ended 30 April 2003
Notes
1. The interim results to 30 April 2003, which are unaudited, have
been prepared in accordance with the accounting policies which will be
adopted in the Company's next annual financial statements, which are
the same as those policies used in the preparation of the financial
statements for the year ended 31 October 2003.
Short Name: Sperati(C.A.)
Category Code: IR
Sequence Number: 00007716
Time of Receipt (offset from UTC): 20030729T135632+0100
--30--KO/uk* SM/uk AC/uk
CONTACT: C.A. Sperati PLC
KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
INDUSTRY KEYWORD: FOODS/BEVERAGES RETAIL SUPERMARKETS
SOURCE: Sperati C.A.
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