Interim Results
28 June 2003 - 1:00AM
UK Regulatory
RNS Number:8480M
Heavitree Brewery PLC
27 June 2003
The Heavitree Brewery PLC
Trood Lane
Matford
Exeter
Devon EX2 8YP
Contact: Mr G.J.Crocker - Finance Director and Company Secretary
Telephone: 01392 217733
Date: 27 June 2003
Interim Results
UNAUDITED INTERIM RESULTS - for the six months ended 30 April 2003
These Results have today been distributed to all shareholders.Copies can be
obtained from the Registered Office, Trood Lane, Matford, Exeter EX2 8YP.
The Group carries on the business of the operation of public houses.
2003 2002
#,000 #,000
TURNOVER 5824 5196
OPERATING PROFIT/(LOSS) (Note 1)
Holding Company 694 694
Susidiary Companies - Heavitree Inc. 4 (4)
- Heavitree Inns (344) (255)
354 435
Profit on Sale of Tangible Fixed Assets 217 185
571 620
Net Interest Payable (118) (87)
PROFIT ON ORDINARY ACTIVITIES BEFORE TAX 453 533
Taxation (71) (182)
PROFIT ATTRIBUTABLE TO SHAREHOLDERS 382 351
Dividends - Non - Equity Interest :
Preference Shares (1) (1)
- Equity Interest :
Ordinary Shares (Note 2) (193) (199)
RETAINED PROFIT 188 151
BASIC AND DILUTED EARNINGS PER SHARE 6.8p 6.2p
Notes: 1 All figures are in respect of continuing operations.
2 The Interim Dividend of 3.5p per share will be paid on
25 July, 2003, to shareholders registered at the close of
business on 11 July, 2003.
By Order of The Board
G.J.CROCKER
Director and Company Secretary.
I said in my 2001/02 year end statement that things were not as bad as the
results suggested. While we are not yet free from the difficulties which have
been holding us back, the way forward continues to become clearer.
The half-year under review shows a fall in profit on ordinary activities before
tax to #453,000 from #533,000 last year. This is largely due to a heavier
weighting on repairs for the first six months (#599,000 against #508,000 in
2002), which is in line with expectation.
The Group as a whole is ahead of its internal budget at this stage and a
worthwhile improvement in the full year is forecast. Provided that no unforeseen
catastrophes occur in the next four months this should be achieved.
An interim dividend of 3.5p per Ordinary and 'A' Limited Voting Ordinary Share,
the same as last year, will be paid.
W.P.TUCKER
Chairman
Ends.
END
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