Interim Results
01 Novembro 2004 - 7:40AM
UK Regulatory
RNS Number:6823E
Strategic Retail PLC
01 November 2004
STRATEGIC RETAIL Plc
("the Company")
INTERIM REPORT
2004
STRATEGIC RETAIL Plc
_______________________________________________________________________
Chairman's Statement
The Company has followed its stated strategy of making opportunistic
acquisitions within the retail sector.
New stores have already been opened in Sheerness, Streatham, Camden Parkway,
Camden Archway and Brixton. Store openings in Blair Gowrie and Inverurie are
scheduled for later in the year.
On 4th October 2004 the Company acquired Leveys Limited ("Leveys") through its
wholly owned subsidiary, Leveys (Fads) Limited. Leveys is an eighteen-store
chain of retail outlets offering paint, wallcoverings and associated sundries.
This increases the total number of stores to 72.
Results for the 26 weeks ended 28th August 2004
The company made a profit before taxation for the period of #67,229 on turnover
of #7,049,766. There was no equivalent period in the prior year.
Outlook
The addition of the Leveys chain, which has added 54,000 sq ft of retail space
in an area where Fads had no outlets, will lead to an increase in margins for
both chains.
The Company continues to actively pursue growth through opening new stores and
the acquisition of appropriate retail businesses.
I. W. Currie
Chairman 1st November 2004
PROFIT AND LOSS ACCOUNT
(UNAUDITED) (AUDITED)
26 wks ended 11th April 2003 to
28th Aug 2004 28th Feb 2004
#000 #000
NOTES
Turnover 7,050 3,404
Operating Profit/(Loss) 65 (90)
Interest Receivable 2 4
Profit/(Loss) on Ordinary
Activities before Taxation 67 (86)
Taxation - 87
Retained Profit for
the Period 67 1
Earnings per
Ordinary Share 3 0.50p 0.02p
The Company has no other recognised gains and losses other than the gain above
and therefore no separate statement of total recognised gains or losses has been
presented.
The interim results have been prepared on the basis of the accounting policies
set out in the Company's accounts for the year ended 28th February 2004, and are
neither audited or reviewed.
SUMMARISED BALANCE SHEET
At 28.08.04 At 28.02.04
(UNAUDITED) (AUDITED)
#000 #000
FIXED ASSETS
tangible assets 467 449
------ -----------
467 449
------ -----------
CURRENT ASSETS
stocks 2,401 2,241
debtors 500 521
cash at bank and in hand 862 1,099
--------- ---------
3,762 3,861
CREDITORS - amounts falling
due within 1 year (2,458) (2,606)
--------- ---------
Net current assets 1,305 1,255
--------- ---------
NET ASSETS 1,771 1,704
--------- ---------
CAPITAL & RESERVES
called up share capital 65 65
share premium account 1,638 1,638
profit & loss account 68 1
--------- ---------
1,771 1,704
--------- ---------
NOTES TO THE FINANCIAL INFORMATION
1. The interim results are unaudited and do not comprise full
accounts within the meaning of Section 240 of the Companies Act 1985. The
results for the year ended 28th February 2004 are in abbreviated form and have
been extracted from the published accounts filed with the Registrar of
Companies. These were audited and reported upon without qualification by Baker
Tilly and did not contain a statement under Section 237(2) or (3) of the
Companies Act 1985.
2. No interim dividend is being proposed or paid.
3. The earnings per share has been calculated on the 13,084,472
shares in issue.
Copies of this report will be sent to all shareholders and are available on
request free of charge from the registered office of the company.
Enquiries:
Ian Currie Strategic Retail 0161 831 1512
David Youngman W.H. Ireland Limited 0161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
END
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