CHARTER plc Preliminary results 2003 and proposed Rights Issue
20/02/2004
Charter plc (“Charter” or the “Company”) Preliminary results for the year ended 31 December 2003 and proposed Rights Issue to raise £48.0 million
NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA.
Charter announces the audited preliminary results for the year ended 31 December 2003 and a proposed Rights Issue to raise £48.0 million before expenses.
Preliminary Results - summary of results (unaudited)
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Year ended 31 December | |||
| 2003 | 2002 | |||
| £m | £m | |||
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| Turnover | ||||
| Continuing operations | 842.4 | 867.6 | ||
| Discontinued operations | 28.8 | 32.9 | ||
| 871.2 | 900.5 | |||
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| Adjusted operating profit1 | ||||
| Continuing operations1 | 33.5 | 29.8 | ||
| Goodwill amortisation | (1.2) | (1.2) | ||
| Operating exceptional items | (10.8) | (25.3) | ||
| 21.5 | 3.3 | |||
| Discontinued operations | 6.6 | 6.2 | ||
| Operating profit | 28.1 | 9.5 | ||
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| Non-operating exceptional items | (1.0) | 21.8 | ||
| Profit before interest | 27.1 | 31.3 | ||
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| Interest | (16.8) | (19.3) | ||
| Exceptional financing costs | (6.5) | - | ||
| Profit before tax | 3.8 | 12.0 | ||
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| Earnings/(loss) per share - basic and diluted | ||||
| Headline | (7.9)p | 5.1p | ||
| Adjusted1 | 12.5p | 8.6p | ||
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| 1before exceptional items and amortisation of goodwill | ||||
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| Net debt | 136.8 | 194.0 | ||
Highlights
- Encouraging trading performance in 2003, with better than expected second half and full year results
- Adjusted operating profit on continuing operations increased by 12% to £33.5 million
- Adjusted earnings per share increased 45% to 12.5p
- Net debt reduced by £57.2 million to £136.8 million
View the Full announcement.