Actualización estratégica y resultados provisionales
18 de abril de 2024
PLC DEL GRUPO CARR
STRATEGIC UPDATE AND INTERIM RESULTS
For the 6 months ended 29 February 2024
Carr's Group plc (CARR.L), (''Carr's", the ''Company'', or the ''Group'') the Agriculture and Engineering Group, announces a strategic update and its un-audited interim results for the six months ended 29 February 2024.
Actualización estratégica
Following the review of the performance, composition and organisation of the Group's operations highlighted at the time of the Full Year Results announcement (''FY23'') on 21 December 2023 the Board has concluded that continuing with two divisions (Agriculture and Engineering) is an inefficient operating model, particularly given the lack of synergistic benefits and resultant central overheads, both of which are dilutive to management's and investment focus.
The Board believes that both the Engineering Division and the Agriculture Division hold material value creation opportunities; however, the Agriculture Division will be optimised in the medium term through transformation plans developed and implemented by recently appointed management, whilst the Engineering Division represents a near-term opportunity.
The Board is therefore running a process to explore options to maximise shareholder value with regard to the Engineering Division.
Further updates will be provided when appropriate.
Interim Results for the 6 months ended 29 February 2024
Aspectos financieros más destacados
Ajustado (Operaciones Continuas) | H1 2024 | 1S 2023 (reexpresado) | + / -% |
Ingresos (millones de libras esterlinas) | 81.4 | 79.8 | +2.0 |
Beneficio operativo ajustado (£ 'm) | 5.8 | 5.8 | -1.4 |
Beneficio ajustado antes de impuestos (millones de libras esterlinas) | 5.6 | 5.6 | +0.6 |
Utilidad ajustada por acción (p) | 4.8 | 5.0 | -4.0 |
| |||
Estatutario (Operaciones Continuas) | H1 2024 | 1S 2023 (reexpresado) | + / -% |
Ingresos (millones de libras esterlinas) | 81.4 | 79.8 | +2.0 |
Beneficio operativo (millones de libras esterlinas) | 3.5 | 5.2 | -32.1 |
Beneficio antes de impuestos (£ 'm) | 3.4 | 5.0 | -31.3 |
Utilidad básica por acción (p) | 3.0 | 4.5 | -33.3 |
Dividendo a cuenta por acción (p) | 2.35 | 1.175 | +100.0
|
Net cash (£'m) | 8.0 | 8.6 | |
Destacados
· División de Ingeniería
− Continued strong performance with revenues for the six month period increased by 26.1% to £28.5m (H1 2023: £22.6m).
− Adjusted operating profit for the six month period increased by 119.2% to £2.4m (H1 2023: £1.1m).
− Adjusted operating profit on a LTM basis of £6.6m from revenues of £56.5m.
− Forward order book of £57.8m remains strong and increased from £41.3m at H1 FY23.
· División de Agricultura
− Revenues for the six month period reduced by 7.5% on prior year to £52.8m (H1 2023: £57.1m).
− Adjusted operating profit for the six month period reduced by 17.4% to £4.9m (H1 2023 restated: £6.0m).
− UK feed block tonnage increased by 11% year on year whilst the US feed block business volumes were down 18% year on year. The under-performing facility in Nevada has now closed with production requirements transferred to the two remaining sites.
− US dairy feed supplement business increased volume by 19%, however remains loss making due to unfavourable contracts ending in FY24. New management in situ to return to profitability.
− UK market cautiously improving as input prices stabilise, whilst US market conditions continue to be challenging due to cyclical herd size reductions and ongoing regional drought condition.
· Costos centrales
− Central costs, on an adjusted basis, of £1.6m (H1 2023 restated: £1.3m).
− Ongoing cost reduction measures underway in FY24, continuing into H1 FY25, step-changes aligned to strategic direction.
· Ajustar elementos
− £2.3m of adjusting items (pre-tax) comprising:
§ £1.9m of restructuring and other non-recurring cash costs
§ £0.4m in relation to amortisation of intangibles
· Caja / deuda neta
− Half year-end el efectivo neto of £8.0m (H1 2023: Net efectivo £8.6m) - following payment of final dividend for FY23.
· Dividendos
- Interim dividend of 2.35p per share (H1 2023: 1.175p).
- Reflecting previously announced policy of a single interim dividend and final, rather than two interims and final.
Destacados estratégicos
· Board and management appointments in anticipation of the transformation of the Group: David White (Chief Executive Officer), Gavin Manson (Chief Financial Officer), Martin Rowland (Executive Director of Transformation), Gillian Watson (Non-Executive Director and Senior Independent Director) and Fiona Rodford (Non-Executive Director).
· Transformation of Agriculture Division underway with new leadership across global businesses, with Josh Hoopes joining as CEO Agriculture in March supported by new leadership teams in the UK and US.
· Ongoing cost reduction measures underway in FY24, continuing into H1 FY25, with step changes aligned to strategic direction.
· Group bank facilities of £25m extended to December 2026.
· Final £4.0m deferred consideration from the sale of the Agricultural Supplies Division received in October 2023.
Outlook
Trading conditions in agriculture remain challenging, particularly in the US. The Board expects this to continue through the current financial year, while retaining confidence in prospects improving in the medium to long term. Our short-term focus is on ensuring that performance is optimised during persistently challenging conditions whilst making the changes necessary to deliver longer term value creation. The Engineering Division delivered a strong first half performance, building on FY23. The Board remains confident that order book levels will enable year-on-year growth during FY24, while also providing confidence beyond the current financial year. Board expectations for FY24 remain unchanged.
Cita: David White (director ejecutivo)
"Having reviewed the position of the Group and its market valuation the Board has concluded that the value of each of our divisions individually, when added together, significantly outweighs our market capitalisation. The growing profitability and future prospects of our Engineering Division make this the optimal time to explore options to realise value for that division. The significant opportunities to improve our market position in our Agriculture Division point to short term focus on optimising trading through challenging conditions and preparing that business for future growth built on the foundation of our leading brands. We now have the team in place to deliver the transformation necessary at divisional and central level."
Quote: Tim Jones (Chair)
''Our strategy of Focus, Improve, Deliver has highlighted the value opportunity that is available from each of our divisions in time. We have concluded that our Engineering Division represents a significant opportunity to deliver incremental value to shareholders now, and that it is the right thing to do to explore that opportunity. And we are excited by the opportunities in the Agriculture Division. Global demand for meat and dairy continues to grow strongly at the same time as the imperative to reduce the climate impact of livestock. The task for Carr's Agriculture is to reduce the carbon footprint of livestock and enhance animal welfare whilst delivering better margins and productivity for farmers. Carr's product innovations promote shorter calving intervals, enhance weight gain and help to lower methane emissions. I am delighted that Carr's now has the people, the products and the market opportunities to rapidly grow our global impact in this space''.
Carr's Group plc | +44 0 1228 554 600 |
David BlancoDirector Ejecutivo | |
Gavin Manson, director financiero | |
Consultoría FTI | + 44 (0) 203 727 1340 |
Richard Montaña/Ariadna Peretz |
Acerca de Carr's Group plc:
Carr's es un líder internacional en la fabricación de productos y soluciones de valor agregado, con marcas líderes en el mercado y posiciones sólidas en el mercado de agricultura e ingeniería, y suministra a clientes de todo el mundo. Carr's opera un modelo de negocios que empodera a las subsidiarias operativas, permitiéndoles ser competitivas, ágiles y efectivas en sus mercados individuales, al mismo tiempo que establecen estándares y objetivos generales.
The Agriculture division manufactures and supplies feed blocks, minerals and boluses containing trace elements and minerals for livestock.
La división de Ingeniería fabrica embarcaciones, componentes de precisión y sistemas de manejo remoto, y brinda servicios de ingeniería especializados para las industrias nuclear, de defensa y de petróleo y gas.
Informe de gestión provisional
Estratégico Actualizar
The Board has reviewed the structure and composition of the Group and concluded that both the Engineering and Agriculture Divisions are quality assets demonstrating significant value creation opportunities. Given the scale of the businesses, the complexity resultant from operating two divisions which display no significant synergies has created in an inefficient structure and central organisation.
Current trading as well as the short, medium and long term growth opportunities within the Engineering Division are likely to result in there being a near-term opportunity to deliver attractive value to shareholders.
Following implementation of the ongoing tactical and strategic initiatives developed by management, in combination with the anticipated macro-economic recovery in the sector, the opportunity to develop significant incremental value in the Agriculture Division is longer term.
The Board has, therefore, concluded that it is appropriate to explore the opportunities to realise value for the Engineering Division. A process to explore value is currently in its nascent stages, and further information will be provided in due course.
Resultados provisionales
During the six months ended 29 February 2024 revenues increased 2.0% to £81.4m (H1 2023: £79.8m) reflecting growth in Engineering of £5.9m (26.1%), somewhat offset by a reduction in Agriculture revenue of £4.3m (7.5%). Adjusted operating profit for the Group of £5.8m was unchanged from the prior year (H1 2023 restated: £5.8m). Adjusted profit before tax was unchanged from the prior year at £5.6m (H1 2023 restated: £5.6m). Adjusted earnings per share for continuing operations decreased by 4.0% to 4.8p (H1 2023 restated: 5.0p) for the six month period.
Revisión operativa
Ingeniería
The Engineering Division comprises specialist fabrication and precision engineering businesses in the UK, robotics businesses in the UK, Europe and USA, and engineering solutions businesses in the UK and USA.
| H1 2024 | H1 2023 | % Cambio |
Ingresos | 28.5m | 22.6m | 26.1% |
Beneficio operativo ajustado | 2.4m | 1.1m | 119.2% |
Margen operativo ajustado | 8.6% | 4.9% | + 3.7pp |
Strength in performance continued from the second half of FY23 with first half revenue of £28.5m, up 26.1% on the prior year. Adjusted operating profit of £2.4m was more than double the prior year, bringing LTM adjusted operating profit to £6.6m, an adjusted operating margin of 11.7% from revenues of £56.5m.
The order book remains strong with £57.8m recorded at the period end, significantly ahead of the £41.3m prior half comparative. Orders since February 2024 have returned the order book above the £59.8m in hand at the end of FY23. This continued strength sets the Engineering Division up well for another strong second half performance, and for further steady growth.
Fabrication and precision engineering revenues were up 23% in the period, supported by continued high activity levels in the nuclear sector and strong order intake from the oil and gas sector. The businesses in these sectors are increasingly benefitting from the integration of decision making and customer relationship management.
Revenues in the robotics business increased 60.4% from last year, benefitting from the significant order wins last year including a prestigious £10m contract for the UK's National Nuclear Laboratory, the largest single contract signed by Wälischmiller.
Management is confident in the outlook for the Engineering Division in the second half and beyond the current financial year. The division has confirmed high value contracts continuing into FY25 and beyond, and a well-balanced spread of current orders across all the business units in the division. The pipeline of opportunities and prospects beyond confirmed orders is very encouraging. The Engineering Division is increasingly focused on the specific opportunities that match its market leading skills, technical strengths and high-quality manufacturing assets and is benefitting from long term CRM activity aligned across the division.
Agricultura
The Agriculture Division manufactures livestock supplements including branded feed blocks, essential minerals, and precision dose trace element boluses, sold to farmers in the UK, Europe, North America, and New Zealand through a long-established distribution network.
| H1 2024 | 1S 2023 (reexpresado) | % Cambio |
Ingresos | 52.8m | 57.1m | (7.5%) |
Beneficio operativo ajustado | 4.9m | 6.0m | (17.4%) |
Margen operativo ajustado | 9.4% | 10.5% | -1.1pp |
With challenging conditions continuing in the agriculture sector, revenues decreased by 7.5% in the period. This was largely driven by the high inflationary and reduced volume environment of FY23 that saw average feed block prices increase by 21% but feed block volumes decrease by 16%. In H1 FY24 the UK has returned to volume growth (+11% year on year) whilst the US feed blocks business has seen further year on year decline (18%) as herd sizes continue to decrease cyclically, accentuated by continued drought in the southern states.
Encouragingly, at Animax (the UK animal health business acquired in 2018), transformational automation of the production process was implemented late in the first half of FY24. The benefits of this automation on each of capacity, cost and specification accuracy will be apparent in the second half. Prior to these improvements being evident first half performance was broadly flat year on year.
Our New York State based dairy cattle feed supplement business recorded volume growth of 19% in the first half but remains loss making. Actions to raise margins and achieve profitability are in progress.
With new management now in situ we maintain a positive longer-term outlook for the Agriculture Division from both an internal operational effectiveness perspective and in terms of macro-economic conditions. In the UK and Ireland, farm input prices, particularly for feed and fertiliser, are coming down, easing the pressure on customer spending budgets. Farm input and output price indices have matched in early 2024 for the first time since Q2 2021, with input prices having been over 15% higher than outputs in Q3 2022. These increasingly positive macro-economic trends have translated to volume increases but have yet to result in improved margins. In the USA, the area affected by drought is markedly reduced from 12 months previously, whilst the cyclical outlook specifically for beef will improve as herds rebuild over the next five years.
Management actions already underway at the UK animal health business coupled with the progress at the other Agriculture businesses will result in improved financial performance and increased resilience over time. The Agriculture businesses are founded on respected brands with a track record of quality, innovation and service, that will ultimately support sales and margins as markets recover from recent unprecedented conditions.
Resultados ajustados
Revenue increased by 2.0% to £81.4m (H1 2023: £79.8m), with a year on year increase of 26.1% in Engineering offset by a reduction of 7.5% in Agriculture.
Adjusted operating profit was unchanged at £5.8m (H1 2023 restated: £5.8m). Engineering grew by 119.2% offset by a 17.4% reduction in Agriculture.
Central costs, on an adjusted basis, were £0.3m higher at £1.6m (H1 2023 restated: £1.3m) driven by the impact of inflationary pay increases in the prior year and costs associated with the completion of strategic projects.
Net finance costs of £0.1m (H1 2023: £0.2m) were slightly lower than the prior period. Higher interest rates were offset by lower borrowings across the period after existing facilities were reduced using consideration received from the sale of the Carr's Billington business.
The Group's adjusted profit before tax was unchanged at £5.6m (H1 2023 restated: £5.6m). Adjusted earnings per share decreased by 4.0% to 4.8p (H1 2023: restated 5.0p).
Ajustar elementos
The Group provides the adjusted profit measures referred to above to present additional useful information on business performance consistent with how business performance is measured internally. These measures show underlying profits before certain adjusting items. Adjusting items related to continuing operations during the period were a net charge before tax of £2.2m (H1 2023: £0.6m), with full details included in note 8.
Resultados estatutarios
Reported operating profit on a statutory basis was £3.5m (H1 2023 restated: £5.2m) and reported profit before tax was £3.4m (H1 2023 restated: £5.0m). Basic earnings per share on a statutory basis was 3.0p (H1 2023: restated 4.5p).
Balance y flujo de caja
Net cash generated from operating activities in continuing operations in the first half was £5.5m (H1 2023: £3.6m). Cash generated from continuing operations in the period of £4.3m was ahead of the same period last year (cash generated of £4.0m).
Excluding leases, the Group moved from net cash of £4.2m at the financial year end to net cash of £8.0m at 29 February 2024. This change has been driven by receipt of the £4.0m deferred consideration related to the sale of the Carr's Billington Agriculture business.
The Group's defined benefit pension scheme remains in surplus, with a balance of £5.9m compared to £5.3m at 2 September 2023. The Trustees are in discussion with insurers regarding a potential buy-in of the scheme.
Shareholders' equity at 29 February 2024 was £107.7m (2 September 2023: £107.9m).
An interim dividend of 2.35 pence per ordinary share will be paid on 5 June 2024 to shareholders on the register on 3 May 2024. The ex-dividend date will be 2 May 2024. The increased dividend of 2.35p reflects the previously announced updated policy of a single interim dividend and final rather than two interims and final dividend.
Outlook
Trading conditions in agriculture remain challenging, particularly in the US. The Board expects this to continue through the current financial year, while retaining confidence in prospects improving in the medium to long term. Our short-term focus is on ensuring that performance is optimised during persistently challenging conditions whilst making the changes necessary to deliver longer term value creation. The Engineering Division delivered a strong first half performance, building on FY23. The Board remains confident that order book levels will enable year on year growth during FY24, while also providing confidence beyond the current financial year. Board expectations for FY24 remain unchanged.
Principales riesgos e incertidumbres
The Group has a process in place to identify and assess the impact of risks on its business, which is reviewed and updated regularly. The principal risks and uncertainties for the remainder of the financial year are not considered to have changed materially from those included on pages 20 to 23 of the Annual Report and Accounts 2023 (available on the Company's website at http://investors.carrsgroup.com).
CUENTA DE RESULTADOS CONSOLIDADA CONDENSADA
For the 6 months ended 29 February 2024
| 6 meses terminados 29 febrero 2024 (No auditado) | 6 meses terminó 4 marzo 2023 (sin auditar) (reformulado)2 |
Año terminó 2 septiembre 2023 (auditado) | |
| Notas | 000 £ | 000 £ | 000 £ |
Operaciones continuas | ||||
Ingresos | 6,7 | 81,372 | 79,754 | 143,214 |
El costo de ventas | (63,574) | (62,032) | (110,924) | |
| ||||
Beneficio bruto | 17,798 | 17,722 | 32,290 | |
| ||||
Gastos operativos netos | (15,627) | (14,105) | (31,780) | |
Participación en los resultados después de impuestos de las empresas conjuntas | 6 | 1,369 | 1,596 | 1,441 |
| ||||
Beneficio operativo ajustado¹ | 6 | 5,758 | 5,839 | 7,950 |
Ajustar elementos | 8 | (2,218) | (626) | (5,999) |
Beneficio operativo | 6 | 3,540 | 5,213 | 1,951 |
| ||||
Ingresos financieros | 630 | 382 | 876 | |
Costos financieros | (745) | (609) | (1,320) | |
| ||||
Beneficio ajustado¹ antes de impuestos | 6 | 5,643 | 5,612 | 7,506 |
Ajustar elementos | 8 | (2,218) | (626) | (5,999) |
Beneficio antes de impuestos | 6 | 3,425 | 4,986 | 1,507 |
| ||||
Taxation | (606) | (769) | (1,111) | |
Adjusted¹ profit for the period from continuing operations | 4,508 | 4,695 | 5,836 | |
Ajustar elementos | 8 | (1,689) | (478) | (5,440) |
|
|
| ||
Beneficio del período de operaciones continuadas |
| 2,819 | 4,217 | 396 |
|
|
| ||
Operaciones discontinuadas |
|
| ||
Ganancia / (pérdida) del período de operaciones discontinuadas | 9 | - | 214 | (1,157) |
Beneficio / (pérdida) del período |
| 2,819 | 4,431 | (761) |
|
|
|
|
|
Beneficio / (pérdida) atribuible a: |
|
| ||
Accionistas de capital |
| 2,819 | 4,217 | (226) |
Participaciones no controladoras3 |
| - | 214 | (535) |
|
| 2,819 | 4,431 | (761) |
|
|
| ||
Utilidad por acción ordinaria (peniques) |
|
| ||
Basic |
| |||
Beneficio de operaciones continuas | 10 | 3.0 | 4.5 | 0.4 |
Pérdida por operaciones discontinuadas | 10 | - | - | (0.7) |
10 | 3.0 | 4.5 | (0.3) | |
Diluido |
| |||
Beneficio de operaciones continuas | 10 | 3.0 | 4.4 | 0.4 |
Pérdida por operaciones discontinuadas | 10 | - | - | (0.7) |
10 | 3.0 | 4.4 | (0.3) | |
|
1 Adjusted results are consistent with how business performance is measured internally and is presented to aid comparability of performance. Adjusting items are discussed in note 8. An alternative performance measures glossary can be found in note 20.
2 See notes 9 and 19 for an explanation of the prior period restatements to the period ended 4 March 2023 recognised in relation to the measurement of fair value less costs to sell of the disposal group.
3 Las participaciones no controladoras se relacionan con negocios incluidos en el grupo de disposición.
ESTADO DE RESULTADOS INTEGRALES CONSOLIDADO CONDENSADO
For the 6 months ended 29 February 2024
|
6 meses terminados 29 febrero 2024 (No auditado) | 6 meses terminó 4 de marzo de 2023 (unaudited) (restated)² |
Año terminó 2 septiembre 2023 (auditado) | |
| Notas | 000 £ | 000 £ | 000 £ |
| ||||
Beneficio / (pérdida) del período | 2,819 | 4,431 | (761) | |
| ||||
Otros ingresos / (gastos) integrales |
| |||
|
| |||
Partidas que pueden reclasificarse posteriormente a resultados: |
| |||
Ganancias/(pérdidas) por conversión de divisas derivadas de traducción de filiales en el extranjero |
60 |
(666) |
(3,141) | |
| ||||
Partidas que no se reclasificarán posteriormente a resultados: |
| |||
Ganancias/(pérdidas) actuariales en el activo por beneficios al retiro: |
| |||
- Grupo | 15 | 598 | (1,445) | (2,058) |
- Share of associate (discontinued operations) | - | - | (717) | |
| ||||
Tributación (cargo)/crédito sobre las ganancias/(pérdidas) actuariales sobre el activo por beneficios de retiro: |
| |||
- Grupo | (150) | 361 | 515 | |
- Share of associate (discontinued operations) | - | - | 179 | |
| ||||
Otros ingresos / (gastos) integrales del período, neto de impuestos | 508 | (1,750) | (5,222) | |
| ||||
Total de ingresos / (gastos) integrales del período | 3,327 | 2,681 | (5,983) | |
| ||||
Total de ingresos / (gastos) integrales atribuibles a: |
|
|
| |
Accionistas de capital |
| 3,327 | 2,467 | (5,448) |
Interes no controlado1 |
| - | 214 | (535) |
|
|
|
| |
|
| 3,327 | 2,681 | (5,983) |
|
|
|
| |
Total de ingresos / (gastos) integrales atribuibles a: |
|
|
| |
Operaciones continuas |
| 3,327 | 2,467 | (4,288) |
Operaciones discontinuadas |
| - | 214 | (1,695) |
|
|
| ||
|
| 3,327 | 2,681 | (5,983) |
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|
|
|
1 Las participaciones no controladoras se relacionan con negocios incluidos en el grupo de disposición.
2 See notes 9 and 19 for an explanation of the prior period restatements to the period ended 4 March 2023 recognised in relation to the measurement of fair value less costs to sell of the disposal group
BALANCE GENERAL CONSOLIDADO CONDENSADO
Al 29 de febrero de 2024
|
Como en 29 febrero 2024 (No auditado) |
Como en 4 marzo 2023 (sin auditar) (reformulado) 1 |
Como en 2 septiembre 2023 (auditado) | |
| Notas | 000 £ | 000 £ | 000 £ |
Activos no corrientes | ||||
Goodwill | 12 | 19,192 | 23,351 | 19,161 |
Otros activos intangibles | 12 | 3,028 | 4,277 | 3,318 |
Propiedad, planta y equipo. | 12 | 29,902 | 30,694 | 29,950 |
Activos por derecho de uso | 12 | 7,112 | 7,891 | 7,323 |
Propiedad de inversión | 12 | 2,600 | 2,680 | 2,640 |
Interés en empresas conjuntas | 7,475 | 7,525 | 6,101 | |
Otras inversiones | 27 | 31 | 27 | |
Activos contractuales | - | 316 | - | |
Activos financieros |
| |||
- Cuentas por cobrar no corrientes | 21 | 23 | 21 | |
Activo por beneficios de jubilación | 15 | 5,884 | 5,874 | 5,316 |
Activos por impuestos diferidos | 26 | 205 | 26 | |
75,267 | 82,867 | 73,883 | ||
| ||||
Activos circulantes |
| |||
Los inventarios | 22,622 | 24,856 | 26,613 | |
Activos contractuales | 10,390 | 7,124 | 7,915 | |
Cuentas comerciales y otras cuentas por cobrar | 24,186 | 27,479 | 24,592 | |
Activos por impuestos corrientes | 2,374 | 3,133 | 3,895 | |
Activos financieros |
| |||
- Efectivo y equivalentes de efectivo | 13 | 21,581 | 23,493 | 23,123 |
81,153 | 86,085 | 86,138 | ||
| ||||
los activos totales | 156,420 | 168,952 | 160,021 | |
| ||||
Pasivo circulante |
| |||
Pasivos financieros |
| |||
- Préstamos | 13 | (8,718) | (9,392) | (13,714) |
- Arrendamientos | (1,471) | (1,325) | (1,264) | |
- Instrumentos financieros derivados | - | (41) | (4) | |
Pasivos contractuales | (4,769) | (3,165) | (5,194) | |
Comerciales y otras cuentas a pagar | (18,883) | (19,240) | (16,556) | |
Pasivos por impuestos corrientes | (55) | (166) | (131) | |
(33,896) | (33,329) | (36,863) | ||
Pasivos no corrientes |
| |||
Pasivos financieros |
| |||
- Préstamos | 13 | (4,894) | (5,470) | (5,206) |
- Arrendamientos | (5,085) | (5,769) | (5,559) | |
Pasivos por impuestos diferidos | (4,844) | (4,648) | (4,447) | |
Otros pasivos no corrientes | (15) | (233) | (71) | |
(14,838) | (16,120) | (15,283) | ||
| ||||
Pasivos totales |
| (48,734) | (49,449) | (52,146) |
|
|
|
| |
Activos netos | 107,686 | 119,503 | 107,875 | |
| ||||
Accionistas |
|
|
| |
Capital social | 16 | 2,359 | 2,351 | 2,354 |
Compartir premium | 16 | 10,862 | 10,522 | 10,664 |
Otras reservas |
| 3,506 | 6,121 | 3,581 |
Ganancias retenidas |
| 90,959 | 100,509 | 91,276 |
Equidad total de los accionistas |
| 107,686 | 119,503 | 107,875 |
1 See notes 9 and 19 for an explanation of the prior period restatements to the period ended 4 March 2023 recognised in relation to the measurement of fair value less costs to sell of the disposal group.
ESTADO DE CAMBIOS EN EL PATRIMONIO CONDENSADO CONSOLIDADO
For the 6 months ended 29 February 2024
Compartir Capital |
Compartir Premium | Tesorería Compartir Reservar | Equidad para Trabajadores Reservar | Extranjero Intercambie Reservar |
Otro Reservar | retenido Ganancias | Total Accionistas Equidad | Sin control Intereses |
Total Equidad | |
000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Al 3 de septiembre de 2023 (auditado) | 2,354 | 10,664 | - | 264 | 3,127 | 190 | 91,276 | 107,875 | - | 107,875 |
Beneficio del período | - | - | - | - | - | - | 2,819 | 2,819 | - | 2,819 |
Otro resultado integral | - | - | - | - | 60 | - | 448 | 508 | - | 508 |
Total de ingresos integrales | - | - | - | - | 60 | - | 3,267 | 3,327 | - | 3,327 |
Dividendos pagados | - | - | - | - | - | - | (3,788) | (3,788) | - | (3,788) |
Transacciones con pagos basados en acciones liquidadas con instrumentos de patrimonio | - | - | - | 143 | - | - | - | 143 | - | 143 |
Asignación de acciones | 5 | 198 | - | - | - | - | - | 203 | - | 203 |
Compra de acciones propias en fideicomiso | - | - | (74) | - | - | - | - | (74) | - | (74) |
Traslados | - | - | 49 | (251) | - | (2) | 204 | - | - | - |
A 29 de febrero de 2024 (sin auditar) | 2,359 | 10,862 | (25) | 156 | 3,187 | 188 | 90,959 | 107,686 | - | 107,686 |
|
|
|
|
|
|
|
|
|
| |
As previously reported at 3 September 2022 (unaudited) 1 | 2,350 | 10,500 | - | 528 | 6,268 | 192 | 99,318 | 119,156 | 14,585 | 133,741 |
Ajuste del período anterior² | - | - | - | - | - | - | (1,023) | (1,023) | (389) | (1,412) |
At 4 September 2022 (audited) (restated)² | 2,350 | 10,500 | - | 528 | 6,268 | 192 | 98,295 | 118,133 | 14,196 | 132,329 |
Utilidad del período (reexpresada)² | - | - | - | - | - | - | 4,217 | 4,217 | 214 | 4,431 |
Otro gasto integral | - | - | - | - | (666) | - | (1,084) | (1,750) | - | (1,750) |
Total comprehensive (expense)/income (restated)² | - | - | - | - | (666) | - | 3,133 | 2,467 | 214 | 2,681 |
Dividendos pagados | - | - | - | - | - | - | (1,104) | (1,104) | - | (1,104) |
Transacciones con pagos basados en acciones liquidadas con instrumentos de patrimonio | - | - | - | (16) | - | - | - | (16) | - | (16) |
Asignación de acciones | 1 | 22 | - | - | - | - | - | 23 | - | 23 |
Venta de grupo de disposición | - | - | - | - | - | - | - | - | (14,410) | (14,410) |
Traslados | - | - | - | (184) | - | (1) | 185 | - | - | - |
At 4 March 2023 (unaudited) (restated)² | 2,351 | 10,522 | - | 328 | 5,602 | 191 | 100,509 | 119,503 | - | 119,503 |
Al 4 de septiembre de 2022³ (auditado) | 2,350 | 10,500 | - | 528 | 6,268 | 192 | 98,295 | 118,133 | 14,196 | 132,329 |
Pérdida del período | - | - | - | - | - | - | (226) | (226) | (535) | (761) |
Otro gasto integral | - | - | - | - | (3,141) | - | (2,081) | (5,222) | - | (5,222) |
Gasto integral total | - | - | - | - | (3,141) | - | (2,307) | (5,448) | (535) | (5,983) |
Dividendos pagados | - | - | - | - | - | - | (4,889) | (4,889) | - | (4,889) |
Transacciones con pagos basados en acciones liquidadas con instrumentos de patrimonio | - | - | - | (85) | - | - | - | (85) | (7) | (92) |
Exceso de impuestos diferidos sobre pagos basados en acciones | - | - | - | - | - | - | (4) | (4) | - | (4) |
Asignación de acciones | 4 | 164 | - | - | - | - | - | 168 | - | 168 |
Venta de grupo de disposición | - | - | - | - | - | - | - | - | (13,654) | (13,654) |
Traslados | - | - | - | (179) | - | (2) | 181 | - | - | - |
Al 2 de septiembre de 2023 (auditado) | 2,354 | 10,664 | - | 264 | 3,127 | 190 | 91,276 | 107,875 | - | 107,875 |
1 As reported in the Interim Report for the half year ended 4 March 2023.
2 See notes 9 and 19 for an explanation of the prior period restatements to the period ended 4 March 2023 recognised in relation to the measurement of fair value less costs to sell of the disposal group.
3 Previously restated in the Annual Report and Accounts for the year ended 2 September 2023
ESTADO DE FLUJOS DE EFECTIVO CONDENSADO CONSOLIDADO
For the 6 months ended 29 February 2024
| 6 meses terminados 29 de febrero de 2024 (No auditado) | 6 meses terminados 4 de marzo de 2023 (No auditado) |
Año terminado 2 Septiembre 2023 (auditado) | |
| Notas | 000 £ | 000 £ | 000 £ |
flujos de efectivo por actividades operacionales |
| |||
Efectivo generado por operaciones continuas | 17 | 4,334 | 4,040 | 3,155 |
Interés recibido | 489 | 225 | 564 | |
Pago interesado | (745) | (663) | (1,320) | |
Impuesto recibido / (pagado) | 1,454 | (38) | (278) | |
Efectivo neto generado por actividades operativas en operaciones continuas | 5,532 | 3,564 | 2,121 | |
Efectivo neto utilizado en actividades operativas en operaciones discontinuadas | - | (2,952) | (3,040) | |
Efectivo neto generado por / (utilizado en) actividades operativas | 5,532 | 612 | (919) | |
|
| |||
Flujos de efectivo de actividades de inversión |
| |||
Venta del grupo de disposición (neto de efectivo dispuesto y costos de venta) | 4,000 | 24,341 | 25,619 | |
Dividendos recibidos de negocios conjuntos | - | - | 1,390 | |
Compra de activos intangibles | (5) | (157) | (193) | |
Ingresos por venta de propiedades, planta y equipo | 3 | - | 48 | |
Compra de propiedad, planta y equipo | (1,330) | (1,970) | (3,194) | |
Net cash generated from investing activities in continuing operations | 2,668 | 22,214 | 23,670 | |
Efectivo neto utilizado en actividades de inversión en operaciones discontinuadas | - | (604) | (487) | |
Efectivo neto generado por actividades de inversión | 2,668 | 21,610 | 23,183 | |
|
| |||
Flujos de efectivo de actividades de financiación |
| |||
Producto de la emisión de capital social ordinario | 203 | 23 | 167 | |
Compra de acciones propias en fideicomiso | (74) | - | - | |
Nueva financiación y disposiciones sobre RCF | (75) | 4,741 | 5,574 | |
Reembolso de disposiciones del FCR | - | (21,741) | (21,741) | |
Amortizaciones del principal del arrendamiento | (684) | (764) | (1,545) | |
Reembolso de préstamos | (1,127) | (4,011) | (4,263) | |
Dividendos pagados a los accionistas | (3,788) | (1,104) | (4,889) | |
Efectivo neto utilizado en actividades de financiamiento en operaciones continuas | (5,545) | (22,856) | (26,697) | |
Efectivo neto utilizado en actividades de financiación en operaciones discontinuadas | - | (9,599) | (9,599) | |
Efectivo neto utilizado en actividades de financiación. | (5,545) | (32,455) | (36,296) | |
| ||||
Efectos de las variaciones del tipo de cambio | (36) | 33 | (54) | |
Aumento / (disminución) neto de efectivo y equivalentes de efectivo | 2,619 | (10,200) | (14,086) | |
Efectivo y equivalentes de efectivo al inicio del período | 10,769 | 24,856 | 24,855 | |
Efectivo y equivalentes de efectivo al final del período | 13,388 | 14,656 | 10,769 | |
|
| |||
El efectivo y equivalentes de efectivo consisten en: |
| |||
Efectivo y equivalentes de efectivo según el balance | 21,581 | 23,493 | 23,123 | |
Sobregiros bancarios incluidos en préstamos | (8,193) | (8,837) | (12,354) | |
13,388 | 14,656 | 10,769 |
Declaración de responsabilidades de los directores
The Directors confirm that these condensed consolidated interim financial statements have been prepared in accordance with UK-adopted International Accounting Standard 34, 'Interim Financial Reporting' and the Disclosure Orientación y Transparency Rules sourcebook of the United Kingdom's Financial Conduct Authority and that the interim management report includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8, namely:
· an indication of important events that have occurred during the first six months of the year and their impact on the condensed set of interim financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year; and
· material related party transactions in the first six months of the year and any material changes in the related party transactions described in the last Annual Report.
The Directors are listed in the Annual Report and Accounts 2023 with the exception of Fiona Rodford who joined the Board on 20 February 2024. The following changes to the Board took place in the period: Gillian Watson was appointed to the Board on 9 October 2023, John Worby stepped down from the Board on 31 October 2023, Peter Page stepped down from the Board on 17 November 2023 and Fiona Rodford was appointed to the Board on 20 February 2024. In addition, former CFO David White became CEO from 17 November 2023, and former Non-Executive Director Martin Rowland became Executive Director of Transformation from 13 November 2023. A list of current Directors is maintained on the website: www.carrsgroup.com
En nombre de la Junta
Tim Jones | David Blanco |
Presidente | Director Ejecutivo |
18 de abril de 2024 | 18 de abril de 2024 |
Notas no auditadas a la información financiera intermedia resumida
1. Información General
The Group operates two divisions: Agriculture, previously known as Speciality Agriculture, and Engineering. The previously reported division of Agricultural Supplies was disposed on 26 October 2022 and is disclosed as a discontinued operation throughout the condensed consolidated interim financial statements. The Company is a public limited company, which is listed on the London Stock Exchange and is incorporated and domiciled in the UK. The address of the registered office is Old Croft, Stanwix, Carlisle, Cumbria CA3 9BA.
Estos estados financieros intermedios resumidos fueron aprobados para su emisión el 18 de abril de 2024.
The comparative figures for the financial year ended 2 September 2023 are not the Company's statutory accounts for that financial year. Those accounts have been reported on by the Company's auditor and delivered to the Registrar of Companies. The report of the auditor was (i) unqualified, (ii) did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report, and (iii) did not contain a statement under section 498 (2) or (3) of the Companies Act 2006.
2. Base de preparación
These condensed interim financial statements for the six months ended 29 February 2024 have been prepared in accordance with UK-adopted International Accounting Standard 34, 'Interim Financial Reporting' and the Disclosure Orientación y Transparency Rules sourcebook of the United Kingdom's Financial Conduct Authority.
The annual financial statements of the Group for the year ending 31 August 2024 will be prepared in accordance with UK-adopted International Accounting Standards and the requirements of the Companies Act 2006. As required by the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, this condensed set of financial statements has been prepared applying the accounting policies and presentation that were applied in the preparation of the Company's published consolidated financial statements for the year ended 2 September 2023 which were prepared in accordance with UK-adopted International Accounting Standards and the requirements of the Companies Act 2006 applicable to companies reporting under those standards.
The Group is expected to have a sufficient level of financial resources available through operating cash flows and existing bank facilities for a period of at least 12 months from the signing date of these condensed consolidated interim financial statements. The Group has operated within all its banking covenants throughout the period. In addition, the Group's main banking facility is in place until December 2026.
Detailed cash forecasts continue to be updated regularly for a period of at least 12 months from the reporting period end. These forecasts are sensitised for various worst case scenarios including reduction in customer demand and reliance on key customers; and supply chain constraints and delays impacting operations. The results of this stress testing showed that, due to the stability of the core business, the Group would be able to withstand the impact of these severe but plausible downside scenarios occurring over the period of the forecasts.
Además, varias otras medidas de mitigación permanecen disponibles y bajo el control de los Directores que no fueron incluidas en los escenarios. Estos incluyen la retención de gastos de capital discrecionales y la reducción o cancelación de pagos de dividendos futuros.
En consecuencia, los Administradores confían en que el Grupo dispondrá de fondos suficientes para seguir haciendo frente a sus obligaciones a medida que venzan durante al menos 12 meses desde la fecha de firma de estos estados financieros intermedios resumidos consolidados. Por lo tanto, el Grupo continúa adoptando la base de negocio en marcha en la preparación de sus estados financieros intermedios resumidos consolidados.
3. Accounting policies and prior period restatements
Las políticas contables adoptadas son consistentes con las del ejercicio anterior excepto por:
Taxation
Income taxes are accrued based on management's estimate of the weighted average annual income tax rate expected for the full financial year based on enacted or substantively enacted tax rates as at 29 February 2024. Our effective tax rate in respect of continuing operations was 29.5% (H1 2023: restated 22.7%) after adjusting for results from joint ventures, which are reported net of tax. The higher effective tax rate reflects the impact of UK corporate tax at 25% compared to a blended rate of 21.5% in H1 2023 together with changes in the mix of overseas profits compared to the prior period.
Reexpresión del período anteriors
The results and financial position of the Group for the period ended 4 March 2023 have been restated to reflect the impact of the prior period restatements recognised in the Annual Report and Accounts for the year ended 2 September 2023. The restatements were in respect of the measurement to fair value less costs to sell of the disposal group. Further details of these restatements can be found in notes 9 and 19.
4. Juicios y estimaciones significativos
La preparación de estados financieros intermedios requiere que la administración realice juicios, estimaciones y suposiciones que afectan la aplicación de políticas contables y los montos informados de activos y pasivos, ingresos y gastos. Los resultados reales pueden diferir de estas estimaciones.
In preparing these condensed interim financial statements, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ended 2 September 2023, with the exception of changes in estimates that are required in determining the provision for income taxes as explained in note 3.
5. Gestión de riesgos financieros
Las actividades del Grupo lo exponen a una variedad de riesgos financieros: riesgo de mercado (incluyendo riesgo de moneda y riesgo de precio), riesgo de crédito y riesgo de liquidez.
The condensed interim financial statements do not include all financial risk management information and disclosures required in the annual financial statements; they should be read in conjunction with the Group's annual financial statements as at 2 September 2023.
6. Información del segmento operativo
The Group's chief operating decision-maker ('CODM') has been identified as the Executive Directors. Management has determined the operating segments based on the information reviewed by the CODM for the purposes of allocating resources and assessing performance.
The CODM considers the business from a product/services perspective. Reportable operating segments of continuing operations have been identified as Agriculture, previously known as Speciality Agriculture, and Engineering. The previously reported operating segment of Agricultural Supplies, which was disposed of on 26 October 2022, is disclosed as a discontinued operation in the segmental reporting tables below. Central comprises the central business activities of the Group's head office, which earns no external revenues. Disclosures for the period ended 4 March 2023 have been restated and further details of the prior period restatements can be found in notes 9 and 19.
Performance is assessed using adjusted operating profit. For internal purposes the CODM assesses operating profit before material adjusting items (note 8) consistent with the presentation in the financial statements. The CODM believes this measure provides a better reflection of the Group's underlying performance. Sales between segments are carried out at arm's length.
The following tables present revenue, profit, asset and liability information regarding the Group's operating segments for the six months ended 29 February 2024 and the comparative periods.
6 meses terminados el 29 de febrero de 2024
|
|
Agricultura 000 £ |
Ingeniería 000 £ |
Central 000 £ |
Grupo procesos 000 £ |
| |||||
Ingresos de clientes externos3 |
| 52,847 | 28,525 | - | 81,372 |
|
|
|
|
| |
Equilibrado1 Comparable2 |
| 4,364 | 3,662 | (1,526) | 6,500 |
Depreciación, amortización y resultado por enajenación de activos no corrientes |
|
(784) |
(1,213) |
(114) |
(2,111) |
Participación en los resultados después de impuestos de las empresas conjuntas |
| 1,369 | - | - | 1,369 |
Equilibrado1 utilidad / (pérdida) operativa |
| 4,949 | 2,449 | (1,640) | 5,758 |
Ajuste de elementos (nota 8) |
| (988) | (228) | (1,002) | (2,218) |
|
|
|
|
| |
Ganancia / (pérdida) operativa |
| 3,961 | 2,221 | (2,642) | 3,540 |
Ingresos financieros |
|
|
|
| 630 |
Costos financieros |
|
|
|
| (745) |
Equilibrado1 beneficio antes de impuestos |
|
|
|
| 5,643 |
Ajuste de elementos (nota 8) |
|
|
|
| (2,218) |
Beneficio antes de impuestos |
|
|
|
|
3,425 |
|
|
|
| ||
Activos brutos del segmento |
| 56,822 | 77,230 | 22,368 | 156,420 |
Pasivos brutos del segmento |
| (13,557) | (27,335) | (7,842) | (48,734) |
1 Los resultados ajustados son consistentes con la forma en que se mide internamente el desempeño del negocio y se presentan para ayudar a la comparabilidad del desempeño. Los elementos de ajuste se revelan en la nota 8.
2 Earnings before interest, tax, depreciation, amortisation, profit/(loss) on the disposal of non-current assets and before share of post-tax results of joint ventures.
3 There were no inter segment revenues in the period ended 29 February 2024
The segmental information for the six months ended 4 March 2023 has been restated and further details of the prior period restatements can be found in notes 9 and 19.
6 months ended 4 March 2023 (restated)
|
Agricultura 000 £ |
Ingeniería 000 £ |
Central 000 £ | Continuo Grupo procesos 000 £ | Operaciones discontinuadas 000 £ |
| |||||
Ingresos totales del segmento | 58,461 | 22,646 | - | 81,107 | 63,799 |
Ingresos entre segmentos | (1,320) | (33) | - | (1,353) | (2) |
Ingresos de clientes externos | 57,141 | 22,613 | - | 79,754 | 63,797 |
Equilibrado1 Comparable2 | 5,376 | 2,313 | (1,157) | 6,532 | 576 |
Depreciación, amortización y resultado por enajenación de activos no corrientes |
(978) |
(1,196) |
(115) |
(2,289) |
- |
Participación en los resultados después de impuestos de asociadas y negocios conjuntos | 1,596 | - | - | 1,596 | 517 |
Equilibrado1 utilidad / (pérdida) operativa | 5,994 | 1,117 | (1,272) | 5,839 | 1,093 |
Ajuste de elementos (nota 8) | (546) | (231) | 151 | (626) | (584) |
Ganancia / (pérdida) operativa | 5,448 | 886 | (1,121) | 5,213 | 509 |
Ingresos financieros | 382 | - | |||
Costos financieros | (609) | (216) | |||
Equilibrado1 beneficio antes de impuestos | 5,612 | 877 | |||
Ajuste de elementos (nota 8) | (626) | (584) | |||
Beneficio antes de impuestos |
4,986 |
293 | |||
Fiscalidad de las operaciones discontinuadas | (79) | ||||
Utilidad del período por operaciones discontinuadas (nota 9) | 214 | ||||
Activos brutos del segmento | 61,789 | 77,199 | 29,964 | 168,952 | - |
Pasivos brutos del segmento | (16,243) | (24,471) | (8,735) | (49,449) | - |
1 Los resultados ajustados son consistentes con la forma en que se mide internamente el desempeño del negocio y se presentan para ayudar a la comparabilidad del desempeño. Los elementos de ajuste se revelan en la nota 8.
2 Earnings before interest, tax, depreciation, amortisation, profit/(loss) on the disposal of non-current assets and before share of post-tax results of associate and joint ventures.
Año terminado el 2 de septiembre de 2023
|
Agricultura 000 £ |
Ingeniería 000 £ |
Central 000 £ | Continuo Grupo procesos 000 £ | Operaciones discontinuadas 000 £ |
| |||||
Ingresos totales del segmento | 93,960 | 50,609 | - | 144,569 | 53,212 |
Ingresos entre segmentos | (1,320) | (35) | - | (1,355) | (1) |
Ingresos de clientes externos | 92,640 | 50,574 | - | 143,214 | 53,211 |
Equilibrado1 Comparable2 | 6,117 | 7,678 | (2,850) | 10,945 | (1,821) |
Depreciación, amortización y resultado por enajenación de activos no corrientes |
(1,916) |
(2,394) |
(126) |
(4,436) |
- |
Participación en los resultados después de impuestos de asociadas y negocios conjuntos | 1,441 | - | - | 1,441 | 466 |
Equilibrado1 utilidad / (pérdida) operativa | 5,642 | 5,284 | (2,976) | 7,950 | (1,355) |
Ajuste de elementos (nota 8) | (3,315) | (2,283) | (401) | (5,999) | 3 |
Ganancia / (pérdida) operativa | 2,327 | 3,001 | (3,377) | 1,951 | (1,352) |
Ingresos financieros | 876 | - | |||
Costos financieros | (1,320) | (186) | |||
Equilibrado1 beneficio/(pérdida) antes de impuestos | 7,506 | (1,541) | |||
Ajuste de elementos (nota 8) | (5,999) | 3 | |||
Beneficio / (pérdida) antes de impuestos |
1,507 |
(1,538) | |||
Fiscalidad de las operaciones discontinuadas | 381 | ||||
Loss for the period from discontinued operations (note 9) | (1,157) | ||||
Activos brutos del segmento | 53,490 | 77,190 | 29,341 | 160,021 | - |
Pasivos brutos del segmento | (13,702) | (29,393) | (9,051) | (52,146) | - |
1 Los resultados ajustados son consistentes con la forma en que se mide internamente el desempeño del negocio y se presentan para ayudar a la comparabilidad del desempeño. Los elementos de ajuste se revelan en la nota 8.
2 Ganancias antes de intereses, impuestos, depreciación, amortización, ganancias/(pérdidas) por la enajenación de activos no corrientes y antes de participación en los resultados después de impuestos de asociadas y negocios conjuntos.
7. Disaggregation of revenue
The following table presents the continuing Group's reported revenue disaggregated based on the timing of revenue recognition.
6 meses terminó 29 febrero 2024 |
6 meses terminó 4 marzo 2023 |
Año terminó 2 septiembre 2023 | |
Momento del reconocimiento de ingresos | 000 £ | 000 £ | 000 £ |
A través del tiempo | 19,046 | 12,350 | 29,050 |
En un momento dado | 62,326 | 67,404 | 114,164 |
81,372 | 79,754 | 143,214 |
8. Ajuste de elementos
6 meses terminó 29 febrero 2024 000 £ |
6 meses terminó 4 marzo 2023 (replanteado) 000 £ |
Año terminó 2 septiembre 2023 000 £ | |
Operaciones continuas |
| ||
Amortización de activos intangibles adquiridos (i) | 272 | 476 | 947 |
Restructuring/closure costs (ii) | 1,473 | - | 607 |
Strategic review costs (iii) | 181 | (151) | - |
Cloud configuration and customisation costs - Group (iv) | 292 | 301 | 602 |
Goodwill and other intangible assets impairment (v) | - | - | 3,843 |
Cargo incluido en la utilidad antes de impuestos | 2,218 | 626 | 5,999 |
Efecto fiscal de las partidas de ajuste anteriores | (529) | (148) | (559) |
Charge included in profit for the period from continuing operations | 1,689 | 478 | 5,440 |
Operaciones discontinuadas |
| ||
Loss/(profit) on fair value measurement less costs to sell (vi) | - | 584 | (3) |
Charge/(credit) included in discontinued operations | - | 584 | (3) |
(I) Amortización de activos intangibles adquiridos que no se relacionan con la rentabilidad subyacente del Grupo sino con los costos que surgen en la adquisición de negocios.
(Ii) Restructuring/closure costs include costs incurred in relation to the restructure of the Agriculture Division and Group functions.
(iii) Strategic review costs include external advisor fees incurred in the development of the Group's strategy.
(iv) Costs relating to material spend in relation to the implementation of the Group's ERP system that have now been expensed following the adoption of the IFRIC agenda decision.
(v) Impairment of goodwill and other intangible assets in respect of the Animax Ltd cash-generating unit and impairment of goodwill in respect of the NW Total Engineered Solutions Ltd cash-generating unit.
(vi) The Group disposed of its interest in the Carr's Billington Agricultural business on 26 October 2022. The loss/(profit) on fair value measurement less costs to sell in the prior periods presented arose from the structure of the sale and offsets the retained earnings from discontinued operations between 3 September 2022 and completion date. Further details of the prior period restatements to the period ended 4 March 2023 can be found in notes 9 and 19.
9. Operaciones discontinuadas
On 26 October 2022 the Group completed the disposal of its interests in the Carr's Billington Agricultural business to Edward Billington and Son Limited. Full details of the disposal including proceeds received and net assets disposed can be found in the Annual Report and Accounts for the year ended 2 September 2023.
Subsequent to the publication of the 2023 interim statement, a correction to the measurement of fair value less costs to sell was identified, which was required to reflect property rental terms agreed with the Billington group as part of the sale process. This increased the loss on measurement of fair value less costs to sell by £1.2m, with £0.8m of this being attributable to the Group. The results of the Group for the period to 4 March 2023 and balance sheet as at 4 March 2023 have been restated to reflect this and the subsequent accounting for deferred rental income during that period. In addition, the loss recognised from discontinued operations for the period ended 4 March 2023 has also been restated for amendments to the fair value less costs to sell recognised at 3 September 2022 to align with the position reflected at that date in the Annual Report and Accounts 2023. Further details of the prior period restatements can be found in note 19.
The table below shows the results of the discontinued operations.
|
6 meses terminó 29 febrero 2024 000 £ |
6 meses terminó 4 marzo 2023 (replanteado) 000 £ |
Año terminó 2 septiembre 2023 000 £ |
|
|
|
| ||
| ||||
Ingresos | - | 63,797 | 53,211 | |
Gastos | - | (63,437) | (55,218) | |
- | 360 | (2,007) | ||
| ||||
Participación de los resultados después de impuestos del asociado | - | 415 | 378 | |
Participación en los resultados después de impuestos de la empresa conjunta | - | 102 | 88 | |
Profit/(loss) before taxation of discontinued operations | - | 877 | (1,541) | |
Taxation | - | (79) | 381 | |
|
| |||
Profit/(loss) after taxation of discontinued operations | - | 798 | (1,160) | |
| ||||
| ||||
Pre-taxation (loss)/gain recognised on the measurement to fair value less costs to sell | - | (584) |
3 | |
Taxation | - | - | - | |
After taxation (loss)/gain recognised on the measurement to fair value less costs to sell | - | (584) |
3 | |
|
| |||
Ganancia / (pérdida) del período de operaciones discontinuadas | - | 214 | (1,157) |
10. Beneficio por acción
Las partidas de ajuste reveladas en la nota 8 que se cargan o abonan a resultados no se relacionan con la rentabilidad subyacente del Grupo. El Consejo cree que la ganancia ajustada antes de estos elementos proporciona una medida útil del desempeño comercial. Por lo tanto, la utilidad por acción ajustada se presenta de la siguiente manera:
6 meses terminó 29 de febrero de 2024 000 £ | 6 meses terminó 4 de marzo de 2023 (reexpresado) |
Año terminado 2 Septiembre 2023 | |
000 £ | 000 £ | ||
Operaciones continuas |
| ||
Ganancias | 2,819 | 4,217 | 396 |
Ajuste de elementos: |
| ||
Amortización de activos intangibles adquiridos | 272 | 476 | 947 |
Costos de reestructuración / cierre | 1,473 | - | 607 |
Costos de revisión estratégica | 181 | (151) | - |
Costos de configuración y personalización de la nube - Grupo | 292 | 301 | 602 |
Deterioro del fondo de comercio y otros activos intangibles | - | - | 3,843 |
Efecto fiscal de lo anterior | (529) | (148) | (559) |
Ganancias - ajustadas | 4,508 | 4,695 | 5,836 |
|
|
|
|
Operaciones discontinuadas |
|
|
|
Ganancias | - | - | (622) |
Ajuste de elementos: |
|
| |
Loss/(profit) on fair value measurement less costs to sell | - | 584 | (3) |
Ganancias - ajustadas | - | 584 | (625) |
| |||
Operaciones continuas | 2,819 | 4,217 | 396 |
Operaciones discontinuadas | - | - | (622) |
Total earnings (basic) | 2,819 | 4,217 | (226) |
| |||
Operaciones continuas | 4,508 | 4,695 | 5,836 |
Operaciones discontinuadas | - | 584 | (625) |
Total earnings (adjusted) | 4,508 | 5,279 | 5,211 |
|
| ||
|
|
| |
| Número | Número | Número |
| |||
Número medio ponderado de acciones ordinarias en emisión | 94,164,086 | 94,010,254 | 94,058,319 |
Opciones sobre acciones potencialmente dilutivas | 926,448 | 1,389,767 | 714,964 |
|
| ||
| 95,090,534 | 95,400,021 | 94,773,283 |
| |||
Ganancias por acción (peniques) (reexpresado) |
| ||
Operaciones continuas |
| ||
Basic | 3.0p | 4.5p | 0.4p |
Diluido | 3.0p | 4.4p | 0.4p |
Equilibrado | 4.8p | 5.0p | 6.2p |
Diluido ajustado | 4.7p | 4.9p | 6.2p |
| |||
Operaciones discontinuadas |
| ||
Basic | - | - | (0.7) p |
Diluido | - | - | (0.7) p |
Equilibrado | - | 0.6p | (0.7) p |
Diluido ajustado | - | 0.6p | (0.7) p |
| |||
Grupo total |
| ||
Basic | 3.0p | 4.5p | (0.3) p |
Diluido | 3.0p | 4.4p | (0.3) p |
Equilibrado | 4.8p | 5.6p | 5.5p |
Diluido ajustado | 4.7p | 5.5p | 5.5p |
11. Dividendos
An interim dividend of £1,105,740 (H1 2023: £1,103,968) that related to the period to 2 September 2023 was paid on 29 September 2023. A final dividend of £2,682,733 (H1 2023: £2,680,121) in respect of the period to 2 September 2023 was paid on 1 March 2024.
12. Activos intangibles, propiedad, planta y equipo, activos por derecho de uso y propiedades de inversión
|
Goodwill 000 £ | Otro intangible activos 000 £ | Propiedad, planta y equipo 000 £ |
Derecho de uso activos 000 £ |
Inversión Propiedades 000 £ |
6 meses terminados el 29 de febrero de 2024 | |||||
Opening net book amount at 3 September 2023 | 19,161 | 3,318 | 29,950 | 7,323 | 2,640 |
Diferencias de cambio | 31 | 3 | 49 | 3 | - |
Adiciones y modificaciones de arrendamiento | - | 5 | 1,324 | 490 | - |
Disposiciones | - | - | (2) | (70) | - |
depreciación y amortización | - | (298) | (1,419) | (634) | (40) |
Importe neto contable de cierre a 29 de febrero de 2024 | 19,192 | 3,028 | 29,902 | 7,112 | 2,600 |
6 meses terminados el 4 de marzo de 2023 | |||||
Opening net book amount at 4 September 2022 | 23,609 | 4,635 | 33,204 | 8,223 | 74 |
Diferencias de cambio | (258) | (12) | (216) | 2 | - |
Adiciones y modificaciones de arrendamiento | - | 157 | 1,916 | 325 | - |
Disposals and reclassifications | - | - | (2,711) | (5) | 2,633 |
depreciación y amortización | - | (503) | (1,499) | (654) | (27) |
Importe neto contable de cierre a 4 de marzo de 2023 | 23,351 | 4,277 | 30,694 | 7,891 | 2,680 |
In the period ended 4 March 2023 reclassifications included property assets leased by companies in the continuing Group to Carrs Billington Agriculture (Sales) Ltd that were reclassified as investment property when the company was sold on 26 October 2022.
Capital commitments contracted, but not provided for, by the Group at the period end amount to £1,233,000 (H1 2023: £418,000).
13. Préstamos
Como en 29 febrero 2024 | Como en 4 marzo 2023 | Como en 2 septiembre 2023 | |
000 £ | 000 £ | 000 £ | |
Current | 8,718 | 9,392 | 13,714 |
No corriente | 4,894 | 5,470 | 5,206 |
Total de préstamos | 13,612 | 14,862 | 18,920 |
Efectivo y equivalentes de efectivo según balance | (21,581) | (23,493) | (23,123) |
El efectivo neto | (7,969) | (8,631) | (4,203) |
Instalaciones sin dibujar | 27,583 | 29,028 | 27,252 |
Current borrowings include bank overdrafts of £8.2m (H1 2023: £8.8m; YE 2023: £12.4m). Undrawn facilities include £7.3m (H1 2023: £8.8m; YE 2023: £7.0m) in respect of facilities that are renewable on an annual basis. |
Los movimientos en los préstamos se analizan de la siguiente manera: | 6 meses terminó 29 de febrero de 2024 | 6 meses terminó 4 de marzo de 2023 |
| 000 £ | 000 £ |
| ||
Saldo al inicio del período | 18,920 | 36,539 |
Diferencias de cambio | 37 | 194 |
New bank loans and drawdowns on RCF | (75) | 4,741 |
Reembolso de disposiciones del FCR | - | (21,741) |
Amortizaciones de empréstitos | (1,127) | (4,011) |
Liberación de costos de préstamos diferidos | 19 | 37 |
Net decrease to bank overdraft | (4,162) | (897) |
Balance al final del periodo | 13,612 | 14,862 |
14 Instrumentos financieros
La NIIF 13 requiere que los instrumentos financieros que se miden a valor razonable se clasifiquen de acuerdo con la técnica de valoración utilizada:
Nivel 1: precios cotizados (no ajustados) en mercados activos para activos o pasivos idénticos
Level 2 - inputs, other than Level 1 inputs, that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)
Nivel 3 - entradas no observables
Se considera que las transferencias entre niveles se han producido al final del período sobre el que se informa. No hubo transferencias entre niveles en la jerarquía anterior en el período.
Todos los instrumentos financieros derivados se miden a valor razonable usando entradas de Nivel 2. Los banqueros del Grupo proporcionan las valoraciones de los instrumentos financieros derivados al final de cada período sobre el que se informa sobre la base de técnicas de valoración a precios de mercado.
15 Retirement benefit asset
Los importes reconocidos en la Cuenta de pérdidas y ganancias son los siguientes:
6 meses terminó 29 febrero 2024 | 6 meses terminado 4 marzo 2023 | Año terminó 2 septiembre 2023 | |
000 £ | 000 £ | 000 £ | |
Gastos administrativos | 171 | 66 | 166 |
Interés neto sobre el activo neto de prestaciones definidas | (141) | (157) | (312) |
Total expense/(income) | 30 | (91) | (146) |
El interés neto sobre el activo de retiro de beneficios definidos se reconoce dentro de los ingresos por intereses.
Los importes reconocidos en el Balance son los siguientes:
Como en 29 febrero 2024 | Como en 4 marzo 2023 | Como en 2 septiembre 2023 | |
000 £ | 000 £ | 000 £ | |
| |||
Valor presente de las obligaciones de prestaciones definidas financiadas | (42,928) | (44,078) | (42,505) |
Valor razonable de los activos del plan | 48,812 | 49,952 | 47,821 |
Superávit en régimen de capitalización | 5,884 | 5,874 | 5,316 |
Actuarial gains of £598,000 (H1 2023: losses of £1,445,000) have been reported in the Statement of Comprehensive Income. The surplus has increased over the period since 2 September 2023 due to changes in market conditions. Following completion of the disposal of the Carr's Billington Agricultural business in the prior periods presented the Group made a one-off contribution of £400,000 into the pension scheme.
16 Capital social
Acciones ordinarias asignadas y totalmente pagadas de 2.5 peniques cada una | Numero de veces compartido | Capital social 000 £ | Prima de emisión de £ '000 | Total |
Saldo inicial a 3 de septiembre de 2023 | 94,150,362 | 2,354 | 10,664 | 13,018 |
Producto de las acciones emitidas: |
|
|
|
|
- Compartir esquema de ahorro | 199,432 | 5 | 198 | 203 |
Al 29 de febrero de 2024 | 94,349,794 | 2,359 | 10,862 | 13,221 |
Opening balance at 4 September 2022 | 93,999,596 | 2,350 | 10,500 | 12,850 |
Producto de las acciones emitidas: | ||||
- Compartir esquema de ahorro | 21,937 | 1 | 22 | 23 |
Al 4 de marzo de 2023 | 94,021,533 | 2,351 | 10,522 | 12,873 |
Se emitieron 199,432 acciones en el período para cumplir con las concesiones de acciones bajo el esquema de ahorro de acciones con ganancias de ejercicio de £203,421. El precio medio ponderado relacionado de las acciones ejercidas en el período fue de 1.02 libras esterlinas por acción.
Desde el final del período, el capital social emitido de la Compañía ha aumentado a 94,378,027 acciones debido a la emisión de 28,233 acciones en el marco del plan de ahorro de acciones con ganancias de ejercicio de £28,798 y un precio de ejercicio promedio ponderado relacionado de £1.02 por acción.
17 Cash generated from continuing operations
6 meses terminó 29 febrero 2024 |
6 meses terminó 4 marzo 2023 (replanteado) |
Año terminó 2 septiembre 2023 | |
| 000 £ | 000 £ | 000 £ |
Beneficio del período de operaciones continuadas | 2,819 | 4,217 | 396 |
Ajustes para: |
| ||
Impuestos | 606 | 769 | 1,111 |
Crédito fiscal por I + D + i | (380) | (342) | (695) |
Depreciación de propiedades, planta y equipo | 1,419 | 1,499 | 3,023 |
Depreciación de activos por derecho de uso | 634 | 654 | 1,308 |
Depreciación de propiedades de inversión | 40 | 27 | 67 |
Amortización de activos intangibles | 298 | 503 | 1,004 |
Deterioro del fondo de comercio y otros activos intangibles | - | - | 3,843 |
(Ganancia) / pérdida por enajenación de propiedades, planta y equipo | (1) | 82 | (23) |
(Beneficio) / pérdida por enajenación de activos por derecho de uso | (7) | - | 4 |
Net fair value charge/(credit) on share-based payments | 143 | (16) | (78) |
Otros ajustes distintos al efectivo | (186) | (194) | (894) |
Ingresos por intereses | (630) | (382) | (876) |
Gastos por intereses y costos por préstamos | 764 | 646 | 1,376 |
Participación en los resultados después de impuestos de las empresas conjuntas | (1,369) | (1,596) | (1,441) |
IAS 19 income statement credit in respect of employer contributions | - | (400) | (400) |
Cargo en el estado de resultados de la NIC 19 (excluyendo intereses): |
| ||
Gastos administrativos | 171 | 66 | 166 |
Cambios en el capital de trabajo: |
| ||
Disminución / (aumento) de inventarios | 4,050 | 2,101 | (481) |
Aumento de cuentas por cobrar | (6,050) | (3,099) | (3,173) |
Aumento / (disminución) de las cuentas por pagar | 2,013 | (495) | (1,082) |
Efectivo generado por operaciones continuas | 4,334 | 4,040 | 3,155 |
18 Transacciones con partes relacionadas
The Group's significant related parties are its joint ventures, as disclosed in the Annual Report and Accounts 2023. The Group also had an associate, Carrs Billington Agriculture (Operations) Limited, until its disposal on 26 October 2022.
| Ventas a | Compras de | Renta por cobrar de | Net management charges to | Cantidades adeudado por |
Cantidades contraída con | |
| 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
meses a 6 29 de febrero de 2024 | |||||||
Las empresas mixtas |
| 374 | (318) | - | 97 | 122 | (40) |
| |||||||
meses a 6 4 de marzo de 2023 | |||||||
Consejos | 65 | - | 3 | 18 | - | - | |
Las empresas mixtas | 84 | (249) | - | 33 | 84 | (76) |
Amounts presented for transactions in the prior period are in respect of continuing operations only. Transactions between the Carr's Billington Agricultural businesses in the prior period are excluded as they are within the same disposal group.
19 Prior period restatements
The results and financial position of the Group for the period ended 4 March 2023 have been restated to reflect the impact of the prior period restatements recognised in the Annual Report and Accounts for the year ended 2 September 2023. The restatements were in respect of the measurement of fair value less costs to sell of the disposal group.
Subsequent to the publication of the 2023 interim statement, a correction to the measurement of fair value less costs to sell was identified, which was required to reflect property rental terms agreed with the Billington group as part of the sale process. This increased the loss on measurement of fair value less costs to sell by £1.2m, with £0.8m of this being attributable to the Group. The results of the Group for the period to 4 March 2023 and balance sheet as at 4 March 2023 have been restated to reflect this and the subsequent accounting for deferred rental income during that period. In addition, the loss recognised from discontinued operations for the period ended 4 March 2023 has also been restated for amendments to the fair value less costs to sell recognised at 3 September 2022 to align with the position reflected at that date in the Annual Report and Accounts 2023.
The affected financial statement line items are as follows.
4 March 2023 (previously reportado) 000 £ | Reexpresión con respecto a los activos netos enajenados 000 £ | Restatement in respect of property rental terms 000 £ |
4 de marzo de 2023 (reexpresado) 000 £ |
| |
Estado de resultados |
| ||||
Gastos operativos netos | (14,178) | - | 73 | (14,105) |
|
Beneficio operativo ajustado | 5,766 | - | 73 | 5,839 |
|
Beneficio operativo reportado | 5,140 | - | 73 | 5,213 |
|
Beneficio ajustado antes de impuestos | 5,539 | - | 73 | 5,612 |
|
Beneficio declarado antes de impuestos | 4,913 | - | 73 | 4,986 |
|
Taxation | (753) | - | (16) | (769) |
|
Adjusted profit for the period from continuing operations | 4,638 | - | 57 | 4,695 |
|
Reported profit for the period from continuing operations | 4,160 | - | 57 | 4,217 |
|
Ganancia / (pérdida) del período de operaciones discontinuadas | - | 214 | - | 214 |
|
Beneficio / (pérdida) del período | 4,160 | 214 | 57 | 4,431 |
|
Beneficio / (pérdida) atribuible a: |
| ||||
Accionistas de capital | 3,946 | 214 | 57 | 4,217 |
|
Basic EPS (pence) - continuing operations | 4.4 | - | 0.1 | 4.5 |
|
Basic EPS (pence) - discontinued operations | (0.2) | 0.2 | - | - |
|
Diluted EPS (pence) - discontinued operations | (0.2) | 0.2 | - | - |
|
|
| ||||
Estado del resultado integral |
| ||||
Beneficio / (pérdida) del período | 4,160 | 214 | 57 | 4,431 |
|
Total de ingresos / (gastos) integrales del período | 2,410 | 214 | 57 | 2,681 |
|
Total de ingresos / (gastos) integrales atribuibles a: |
| ||||
Accionistas de capital | 2,196 | 214 | 57 | 2,467 |
|
Total de ingresos / (gastos) integrales atribuibles a: |
| ||||
Operaciones continuas | 2,410 | - | 57 | 2,467 |
|
Operaciones discontinuadas | - | 214 | - | 214 |
|
|
| ||||
|
4 March 2023 (previously reportado) 000 £ | Reexpresión con respecto a alquiler de propiedad términos 000 £ |
4 de marzo de 2023 (reexpresado) 000 £ |
| |
Balance | |||||
Activos por impuestos corrientes | 3,149 | (16) | 3,133 | ||
Total de activos corrientes | 86,101 | (16) | 86,085 | ||
los activos totales | 168,968 | (16) | 168,952 | ||
Comerciales y otras cuentas a pagar | (18,717) | (523) | (19,240) | ||
Total pasivo corriente | (32,806) | (523) | (33,329) | ||
Otros pasivos no corrientes | (20) | (213) | (233) | ||
Total pasivo no corriente | (15,907) | (213) | (16,120) | ||
Pasivos totales | (48,713) | (736) | (49,449) | ||
Activos netos | 120,255 | (752) | 119,503 | ||
Ganancias retenidas | 101,261 | (752) | 100,509 | ||
Equidad total de los accionistas | 120,255 | (752) | 119,503 | ||
|
|
|
|
The opening balance sheet of the period ended 4 March 2023 has been restated and the affected financial statement line items are as follows.
| 3 de septiembre de 2022 (previously restated)¹ 000 £ | Reexpresión con respecto a los activos netos enajenados 000 £ | Restatement in respect of property rental terms 000 £ | 3 Septiembre 2022 (replanteado) 000 £ |
Balance |
|
|
|
|
Activos incluidos en el grupo de enajenación clasificados como mantenidos para la venta | 145,801 | (214) | (1,198) | 144,389 |
Total de activos corrientes | 225,751 | (214) | (1,198) | 224,339 |
los activos totales | 308,973 | (214) | (1,198) | 307,561 |
Activos netos | 133,741 | (214) | (1,198) | 132,329 |
Ganancias retenidas | 99,318 | (214) | (809) | 98,295 |
Equidad total de los accionistas | 119,156 | (214) | (809) | 118,133 |
Participaciones no controladoras | 14,585 | - | (389) | 14,196 |
Equidad total | 133,741 | (214) | (1,198) | 132,329 |
[ 1 ] Previously restated values in the Interim Report for the half year ended 4 March 2023.
20 Alternative performance measures
The Interim Results include alternative performance measures ('APMs'), which are not defined or specified under the requirements of IFRS. These APMs are consistent with how business performance is measured internally and are also used in assessing performance under the Group's incentive plans. Therefore, the Directors believe that these APMs provide stakeholders with additional useful information on the Group's performance.
Medida de desempeño alternativa | Definición y comentarios |
Comparable | Ganancias antes de intereses, impuestos, depreciación, amortización, ganancias/(pérdidas) por la enajenación de activos no corrientes y antes de participación en los resultados después de impuestos de la asociada y negocios conjuntos. El EBITDA permite al usuario evaluar la rentabilidad de las operaciones principales del Grupo antes del impacto de la estructura de capital, la financiación de la deuda y elementos no monetarios como la depreciación y la amortización. |
EBITDA ajustado | Utilidad antes de intereses, impuestos, depreciación, amortización, utilidad / (pérdida) por enajenación de activos no corrientes, antes de participación en los resultados después de impuestos de la asociada y negocios conjuntos y excluyendo partidas consideradas por los Administradores como partidas de ajuste. Esta medida se concilia con el beneficio operativo legal y el beneficio legal antes de impuestos en la nota 6. El EBITDA permite al usuario evaluar la rentabilidad de las operaciones centrales del Grupo antes del impacto de la estructura de capital, financiamiento de deuda y partidas no monetarias como depreciación y amortización. |
Beneficio operativo ajustado | Utilidad operativa después de agregar elementos considerados por los Directores como elementos de ajuste. Esta medida se concilia con la utilidad operativa estatutaria en el estado de resultados y la nota 6. Los resultados ajustados se presentan porque si se incluyen, estos elementos de ajuste podrían distorsionar la comprensión del desempeño del Grupo para el período y la comparabilidad entre los períodos presentados. |
Margen operativo ajustado | Adjusted operating profit as defined above as a percentage of revenue. |
Beneficio ajustado antes de impuestos | Utilidad antes de impuestos después de agregar elementos considerados por los Administradores como elementos de ajuste. Esta medida se concilia con la utilidad legal antes de impuestos en el estado de resultados y la nota 6. Los resultados ajustados se presentan porque si se incluyen, estos elementos de ajuste podrían distorsionar la comprensión del desempeño del Grupo para el período y la comparabilidad entre los períodos presentados. |
Beneficio ajustado del período | Utilidad después de impuestos después de agregar elementos considerados por los Directores como elementos de ajuste. Esta medida se concilia con la utilidad legal después de impuestos en el estado de resultados. Los resultados ajustados se presentan porque si se incluyen, estos elementos de ajuste podrían distorsionar la comprensión del desempeño del Grupo para el período y la comparabilidad entre los períodos presentados. |
Ganancias ajustadas por acción | Beneficio atribuible a los accionistas de la Sociedad tras sumar las partidas consideradas por los Administradores como partidas de ajuste después de impuestos dividida por el número medio ponderado de acciones ordinarias en circulación durante el período. Esto se concilia con las ganancias básicas por acción en la nota 10. |
Ganancias por acción diluidas ajustadas | Beneficio atribuible a los accionistas de la Sociedad tras sumar las partidas consideradas por los Consejeros como partidas de ajuste después de impuestos dividida por el número medio ponderado de acciones ordinarias en circulación durante el período ajustado por los efectos de cualquier opción potencialmente dilusiva. La utilidad por acción diluida se muestra en la nota 10. |
Neto (efectivo) / deuda | La posición neta de la caja del Grupo en bancos y préstamos excluyendo arrendamientos. El detalle del movimiento de la deuda se muestra en la nota 13. |
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