Big turnaround11 Mar 2011 12:27
From the finals
Revenue GBP52.25 million (2009: GBP84.44 million) following closure and
disposal of surplus sites
· Gross profit increased by 19% to GBP7.50 million (2009: GBP6.30 million)
despite lower revenue
· Overall gross margin in year to August 2010 rose to 14.4% (2009: 7.5%)
· Loss from operations before exceptional items have reduced by 93% to
GBP0.61 million (2009: GBP8.07 million)
· Loss after tax reduced by 91% to GBP1.55 million (2009: GBP17.37 million)
· Loss per share reduced to 1.0p (2009: loss 11.2p)
· Administrative expenses fell by 43% and total like-for-like Group costs
including interest reduced by 23%
· Net debt at 31 August 2010 fell by 20% (2009: 37%)
· Cash flow generated from operating and investing activities of GBP3.82
million (2009: GBP2.07 million) used for finance repayments of GBP4.57 million
(2009: GBP2.71 million)