Water Hall Group.30 Oct 2009 08:31
[WTH] The board continues to monitor the investments held in Lloyds Banking Group plc ("Lloyds") and PEG Results. Sales for the period were £823,000 (2008 - £880,000). Cost of sales was £545,000 resulting in a gross profit of £278,000 (33.78% of sales) compared with £428,000 (48.64% of sales) for the corresponding period last year. After administrative expenses of £562,000 and other losses of £145,000, the operating loss was £429,000 (2008 - £391,000). This compares with administrative expenses of £674,000 and other losses of £145,000 for the first half of 2008.Administrative expenses include professional and other costs of £47,000 associated with a planning application submitted in July 2009 to vary an existing consent in order to achieve an enhanced and more appropriate restoration scheme for Southfield Wood. The board and its specialist advisers consider, now this landfill is filled and having regard for the nature of the waste received and the related expected final settlement levels, that the original restoration scheme was flawed and inappropriate.The other losses of £145,000 were primarily the diminution in the value of the investment in Lloyds, the share price movement being taken through the income statement. Finance costs were £12,000 (2008 - income of £89,000). Investment income was lower than the corresponding period for 2008 when bank deposit rates were higher and the Company had less invested in equities. The loss for the period from continuing operations before and after tax was £441,000 (2008 - loss £302,000).Basic loss per share was 0.78p compared with 0.54p for the same period of 2008 and fully diluted loss per share was 0.76p (2008 - 0.51p). This stock is on the cusp of a repeat performance of its previous stellar rise before falling from grace as the world wide depression took hold. But one to seriously consider in view of the impending upturn in the general economy and the increased fortunes of PEG increasing contract wins.
Sign In
Follow the stocks
