TIDMBARK
RNS Number : 8573U
Barkby Group PLC
31 March 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
Barkby Group PLC
("Barkby," the "Group" or the "Company")
Interim results
Barkby announces its unaudited interim results for the 26 weeks
ended 31 December 2022.
Charles Dickson, Executive Chairman, commented:
"We have had a productive first half as we implement our plan to
refocus the business on Roadside assets. Our development pipeline
is progressing well and attracting high-quality nationwide tenants,
underpinning reliable, long term income streams.
"At the same time, we have been active in sourcing a pipeline of
attractive assets to fulfil our objective of creating a portfolio
of modern, ESG compliant Roadside real estate investments. These
efforts have been aided by the downward pressure on real estate
valuations, expanding the array of exciting opportunities open to
us.
"In the pub business, we have emerged from a challenging trading
environment with a solid and robust business. We are now focused on
managing the tight supply of experienced staff and enhancing the
guest experience as we move into the busier spring and summer
months.
"We continue to explore funding options to implement our
strategy whilst managing our existing development activities and
look ahead with optimism."
OPERATIONAL HIGHLIGHTS
Real Estate
-- The Group's focus is to build and scale a high-quality,
substantial portfolio of modern, ESG compliant Roadside real estate
investments.
-- Construction has progressed well at our commercial schemes at Wellingborough and Maldon.
-- Wellingborough is scheduled to complete construction in April
2023 and it is our intention to hold the development on our balance
sheet as an investment as we grow a high-quality commercial
property portfolio. The total contracted rent will be GBP238,000
per annum with contracted tenants including Greggs Plc, Formula One
Autocentres Ltd, City Plumbing Supplies Holdings Ltd and C. Brewers
& Sons Ltd.
-- Maldon is scheduled to complete construction by the end of
May 2023. It is also our intention to hold this development on our
balance sheet. The total expected rent will be GBP280,000 per annum
with contracted tenants including Costa Coffee Ltd, Formula One
Autocentres Ltd and Toolstation Ltd with the remaining unit under
offer.
-- A revised planning application has been submitted for a
27,000 sq.ft. scheme at Swindon and we expect a decision
imminently. The scheme will be anchored by a national Drive Thru
operator with a trade and industrial occupiers taking the remainder
of the site.
-- Given downward valuation pressure in the commercial property
market over the last six months we are seeing high quality assets
at attractive valuations becoming available with a lot less
competition to acquire.
-- Our pipeline of prospective investment and development
Roadside assets is now in excess at GBP100m and we continue to work
towards bringing these assets onto our balance sheet.
Barkby Pubs
-- During the period we added the tenancy of The Eliot Arms,
bringing the estate to nine pubs with 75 bedrooms.
-- Total revenue remained robust, increasing to GBP3.4m in the
period (Dec 2021: GBP3.2m). Like-for-like revenue declined by 6% in
comparison to the same period in 2021.
-- Labour shortages and increasing pay demands resulted in a 63%
increase in operational labour costs, with direct labour increasing
by GBP0.7m.
-- Overall, Barkby Pubs made an EBITDA loss of GBP0.3m (Dec 2021: EBITDA profit of GBP0.5m).
-- Improving labour management is currently our main operational
focus in preparation for the traditionally busy spring and summer
seasons.
-- Majority of our energy contracts were fixed in December 2020
until December 2023, providing protection from the energy cost
pressures facing the industry.
Barkby Investments
-- Following our announcement in July 2022 to sell our non-core
businesses, we provide the following update:
o Workshop Coffee - we are in active talks with the Management
team around an externally backed MBO and will update shareholders
in due course.
o Centurian Automotive ("Centurian") - the existing management
team has assumed the trade of Centurian, with the business having
been transferred to the existing management for nil overall
consideration.
o Cambridge Sleep Sciences ("CSS") - CSS is close to signing a
non-exclusive global licensing deal with a multinational household
consumer electronics brand. The Board believes that completion of
these licensing opportunities will have a material impact on the
potential valuation of the CSS business.
FINANCIAL HIGHLIGHTS
-- Results from continuing operations for the 26 weeks to 31
December 2022 was revenue of GBP3.4m (26 weeks to 30 December 2021:
GBP3.3m), an EBITDA loss of GBP1.2m (2021: GBP1.0m profit) and a
net loss of GBP2.0m (2021: GBP0.4m profit).
-- The loss for the period from discontinued operations, which
includes Workshop Coffee, Cambridge Sleep Sciences and Centurian
Automotive was GBP0.7m (2021: GBP1.1m).
-- Net cash available including undrawn facilities was GBP5.0m as at 31 March 2023.
OUTLOOK AND CURRENT TRADING
-- Focused on scaling our Roadside pipeline; we are in
negotiations on a number of new Roadside developments and
investments.
-- In the process of exploring potential financing solutions to deliver this pipeline.
-- Pub trade remains resilient as we focus on improving profitability.
-- Improved liquidity following the increase in the Tarncourt
facility from GBP5m to GBP12m in December 2022 .
- Ends -
Enquiries:
Barkby Group c/o Montfort Communications
Charles Dickson, Executive Chairman
Douglas Benzie, Chief Financial Officer
finnCap Ltd (Nomad and Broker)
Carl Holmes/Simon Hicks (corporate finance)
Tim Redfern (ECM) +44 (0) 20 7220 0500
----------------------------
Montfort Communications
Olly Scott +44 (0)78 1234 5205
Georgia Colkin +44 (0)75 4284 6844
----------------------------
Notes to editors
Barkby Group PLC is focused on commercial property development
and investment, alongside its pubs business. Barkby is in the
process of disposing of its Investments (comprising of Workshop
Coffee, Centurian Automotive and Cambridge Sleep Sciences).
CHAIRMAN'S STATEMENT
I am pleased to announce the interim results for Barkby Group
PLC for the period ended 31 December 2022.
Over the last six months our primary focus has been to progress
our property development pipeline and dispose of our non-core
businesses.
Having weathered input cost inflation, we are now focused on
returning our pub business to profitability.
Liquidity
As of 31 March 2023, the Group has net cash available of
c.GBP5.0m including a working capital facility provided by
Tarncourt, a related party vehicle controlled by the Dickson
family.
Future strategy
In the July 2022 update, the Board announced it had determined
to focus on roadside property development and investment and to
dispose of Workshop Coffee, Cambridge Sleep Sciences and Centurian
Automotive.
In recent months, we have met a number of prospective
institutional investors and have received positive feedback around
scaling our Roadside property investment and development business
and continue to explore doing so.
The Group continues to look at several routes to maximise the
opportunity this pureplay real estate strategy presents and is
considering funding options, including both equity and debt to take
advantage of the pipeline of opportunities highlighted above.
We are also reviewing the most tax efficient way of holding a
high-quality, substantial portfolio of modern, ESG compliant
Roadside real estate investments, including becoming a REIT and
further strengthening the Board as implement our roadside
strategy.
Charles Dickson
Executive Chairman
31 March 2023
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
26 weeks ended 31 December 2022
26 Weeks 26 Weeks Year ended
ended ended 2-Jul-22
31-Dec-22 30-Dec-21 Audited
Unaudited Unaudited
Note GBP'000 GBP'000 GBP'000
--------------------------------------- ------ ----------- ----------- -----------
Continuing Operations
Revenue 3,396 3,269 10,298
Cost of sales (2,441) (2,108) (5,846)
Gross profit 955 1,161 4,452
Administration expenses (2,464) (1,715) (4,182)
Other operating income 98 1 83
Movement in fair values 0 1,250 1,250
(Loss)/profit from continuing
operations before impairment
of goodwill (1,411) 697 1,603
Impairment of goodwill 0 0 (6,296)
Loss from continuing operations (1,411) 697 (4,693)
Finance income 0 0 55
Finance expense (630) (324) (989)
Loss from continuing operations
before tax (2,041) 373 (5,627)
Income tax credit 0 0 21
Loss for the period from continuing
operations (2,041) 373 (5,606)
Discontinued operations
Loss for the period from discontinued
operations (724) (1,087) (3,908)
Loss and total comprehensive
income for the period (2,765) (714) (9,514)
=========== =========== ===========
Loss for the period is attributable
to:
Non-controlling interests included
in discontinued operations (63) (60) (190)
Owners of Barkby Group Plc (2,702) (654) (9,324)
(2,765) (714) (9,514)
=========== =========== ===========
The above Statement of Profit or Loss and Other Comprehensive
Income should be read in conjunction with the accompanying
notes.
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2022
As at As at As at
31-Dec-22 30-Dec-21 2-Jul-22
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
-------------------------------- ----------- ----------- ----------
Non-current assets
Property, plant and equipment 2,615 1,248 2,454
Right-of-use assets 3,105 3,370 2,539
Intangible assets 0 8,444 31
Investments 0 2,542 0
Investment property 7,635 4,652 4,652
Non-current assets 86 83 83
----------- ----------- ----------
13,441 20,339 9,759
Current assets
Inventory 1,437 5,004 1,883
Trade and other receivables 64 289 648
Contract assets 85 0 13
Other current assets 69 113 39
Prepayments 311 248 262
Cash and cash equivalents 704 94 33
----------- ----------- ----------
2,670 5,748 2,878
Assets of disposal groups held
for sale 4,225 0 5,060
Total current assets 6,895 5,748 7,938
Total assets 20,336 26,087 17,697
Current liabilities
Trade and other payables (1,722) (2,061) (2,136)
Other current liabilities (4,852) (4,493) (5,350)
Current Borrowings (3,934) (10,940) (4,016)
Current Lease liabilities (550) (655) (491)
Income tax payable 0 (4) 0
----------- ----------- ----------
(11,058) (18,153) (11,993)
Liabilities of disposal groups
held for sale (6,210) 0 (7,077)
Total current liabilities (17,268) (18,153) (19,070)
----------- ----------- ----------
Non-current liabilities
Non-current borrowings (10,402) (4,489) (3,708)
Provisions (48) (48) (48)
Non-current Lease liabilities (3,083) (3,288) (2,571)
----------- ----------- ----------
(13,533) (7,825) (6,327)
Total liabilities (30,801) (25,978) (25,397)
Net assets/(liabilities) (10,465) 109 (7,700)
=========== =========== ==========
Equity
Share capital 1,233 1,179 1,233
Share premium 5,430 4,493 5,430
Merger reserve (422) (422) (422)
Fair value reserve 1,250 1,250 1,250
Profit and loss reserve (14,655) (5,409) (5,141)
Loss for the period (2,702) (714) (9,514)
Non-controlling interest (599) (268) (536)
Reverse takeover reserve
----------- ----------- ----------
(10,465) 109 (7,700)
=========== =========== ==========
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
26 weeks ended 31 December 2022
26 weeks 26 weeks Year
ended ended ended
31-Dec-22 30-Dec-21 02-Jul-22
Unaudited Unaudited Audited
GBP'000s GBP'000s GBP'000
--------------------------------------- ----------- ----------- -----------
Cash flows from operating activities
Loss before tax from continuing
operations (2,041) 373 (5,627)
Loss before tax from discontinued
operations (724) (1,087) (3,991)
----------- ----------- -----------
Loss before tax (2,765) (714) (9,618)
Adjustments to reconcile loss
before tax to net cash flows
Depreciation of property, plant
and equipment and right-of-use
assets 307 405 789
Amortisation of intangible assets 31 82 169
Impairment of goodwill 0 0 8,037
Loss on disposal of property,
plant and equipment 0 166 166
Fair value movement in investment
property 0 (1,250) (1,250)
Net finance expense 630 581 1,496
Movement in working capital (610) 1,409 4,159
Net interest paid (630) (254) (459)
Income tax paid 0 (21) (25)
Disposal group cash flow 773 0 0
----------- ----------- -----------
Net cash flow from operating
activities (2,264) 404 3,464
----------- ----------- -----------
Cash flows from investing activities
Disposal of investments 0 0 1,920
Purchase of investment property (2,983) (3,402 (3,402)
Purchase of property, plant
and equipment (283) (94 (1628)
Purchase of intangible assets 0 (23 (38)
----------- ----------- -----------
Net cash used in investing activities (3266) (3519) (3148)
Cash flows from financing activities
Proceeds from issue of shares 0 0 100
Proceeds from borrowings 7,159 7,970 9,424
Repayment of borrowings (547) (4,982) (9,666)
Repayment of lease liabilities (266) (257) (581)
----------- ----------- -----------
Net cash raised/-used in financing
activities 6,346 2,731 (723)
Net increase/(decrease) in cash
and cash equivalents 816 (384) (407)
----------- ----------- -----------
Cash and cash equivalents at
beginning of period (628) (221) (221)
----------- ----------- -----------
Cash and cash equivalents at
end of period 188 (605) (628)
=========== =========== ===========
Cash and cash equivalents of
continuing operations at the
end of the period 150 (605) (617)
Cash and cash equivalents of
discontinued operations at the
end of the period 38 0 (11)
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
26 weeks ended 31 December 2022
Share Share Merger Fair Profit Non-controlling Total
capital premium reserve value and loss interest Equity
reserve reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------------- --------- --------- --------- --------- ---------- ---------------- ---------
Balance at 1 July
2021 1,179 4,493 (422) 0 (4,219) (208) 823
Loss after income
tax and total comprehensive
income for the period 0 0 0 0 (654) (60) (714)
Fair value gains 0 0 0 1,250 (1,250) 0 0
At 30 December
2021 1,179 4,493 (422) 1,250 (6,123) (268) 109
Loss after income
tax and total comprehensive
income for the period (8,670) (130) (8,800)
Transactions with
owners in their
capacity as owners:
Shares issued to
settle deferred
and contingent consideration 18 283 0 0 0 0 301
Shares issued to
settle liabilities 9 148 0 0 0 0 157
Restricted shares
issued 7 126 0 0 0 0 133
Increase in non-controlling
interest 0 0 0 0 138 (138) 0
Shares issued for
cash proceeds 5 95 0 0 0 0 100
Shares issued to
cancel interest
and debt 15 285 0 0 0 0 300
At 2 July 2022 1,233 5,430 (422) 1,250 (14,655) (536) (7,700)
Loss after income
tax and total comprehensive
income for the period 0 0 0 0 (2,702) (63) (2,765)
At 31 December
2022 1,233 5,430 (422) 1,250 (17,357) (599) (10,465)
========= ========= ========= ========= ========== ================ =========
The above statement of changes in equity should be read in
conjunction with the accompanying notes.
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
26 weeks ended 31 December 2022
1. GENERAL
These unaudited consolidated interim financial statements are
for the 26 weeks ended 31 December 2022 (3 July 2022 to 31 December
2022). They do not include all the information required for full
annual financial statements and should be read in conjunction with
the consolidated financial statements for the year ended 2 July
2022 (2 July 2021 to 2 July 2022), which were prepared in
accordance with International Accounting Standards in conformity
with the requirements of the Companies Act 2006.
The statutory accounts for the year ended 2 July 2022 have been
filed with the Registrar of Companies. Those accounts have received
an unqualified audit report and did not contain statements or
matters to which the auditors drew attention under the Act.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation
have remained unchanged from those used in the preparation of the
financial statements for the year ended 2 July 2022 and are
expected to be used for the financial statements for the year (52
week period) ending 1 July 2023.
Going Concern and Liquidity
Barkby is in the process of a strategic restructuring, which
will result in its focus being solely on the opportunities that it
believes are the most cash generative in the long term, Real Estate
and Barkby Pubs. This significantly reduces the cash investment
previously required by the early-stage growth business Cambridge
Sleep Sciences, and the cash outflows of Centurian Automotive and
Workshop Coffee. Accordingly, Cambridge Sleep Sciences, Centurian
Automotive and Workshop Coffee have been presented as discontinued
operations.
Cash headroom has been increased by refinancing the GBP5 million
Tarncourt facility into a new GBP12 million facility with an
extended expiry date of 30 June 2024. The Group currently has net
cash available of c.GBP5 million, including the Tarncourt facility,
as of 31 March 2023. In addition, the Board have taken the steps of
consulting with their major shareholders regarding a potential
equity raise and our major shareholders have confirmed their
continued support should this become necessary.
Going forward, it is our intention to retain our property
developments. This will strengthen the Group's balance sheet with
high quality investment property assets and provide a reliable and
recurring cash flow going forward. This also gives Barkby the
opportunity to sell these assets to generate positive cash flow if
required.
Despite significant progress being made, the disposal of the
discontinued operations has not yet completed, therefore the board
has prepared a profitability and cash flow forecast to 31 March
2023 that includes all Group companies and reflects a severe but
plausible downturn scenario. We expect all discontinued operations
to be fully disposed of by the end of the current financial
year.
The Directors are satisfied that the Group has adequate
resources to continue in operational existence for the foreseeable
future. Accordingly, these interim financial statements have been
prepared on a going concern basis as the Directors are of the
opinion that the Group has sufficient funds to meet its ongoing
working capital and committed capital expenditure requirements. As
stated, it is the group's intention to retain its commercial
developments, but cash can be generated by selling its commercial
developments if required. A detailed disclosure outlining going
concern considerations was provided in the statutory accounts for
the year ended 2 July 2022. The Directors performed a going concern
review and have concluded that no matters have arisen since that
date to change the conclusion of the review.
The interim financial information is unaudited, no dividend has
been declared or paid in this interim period.
Discontinued operations
The Group classifies disposal group as held for sale if their
carrying values will be recovered principally through a sale
transaction rather than through their continuing use. Disposal
groups classified as held for sale are measured at the lower of
their carrying amount and fair value less costs to sell. Costs to
sell are the incremental costs directly attributable to the
disposal of a disposal group, excluding finance costs and income
tax expense.
The criteria for classifying a disposal group as held for sale
is regarded as having been met only when a sale is highly probable
and the disposal group is available for immediate sale in its
present condition. Actions required to complete the sale should
indicate that it is unlikely that significant changes to the sale
will be made or that the decision to sell will be reversed.
Management must be committed to the plan to sell the asset and the
sale is expected to be completed within one year from the date of
classification.
A disposal group qualifies as discontinued operations of it is a
component of an entity that either has been disposed of, or is
classified as held for sale and:
-- Represents a separate major line of business
-- Is part of a single coordinated plan to dispose of a separate major line of business.
Discontinued operations are excluded from the results of
continuing operations and are presented as a single amount as
profit or loss after tax from discontinued operations in the
statement of profit or loss and comprehensive income. All other
notes to the financial statements include amounts for continuing
operations unless otherwise stated.
Following decisions of the Board in June 2022, the Group issued
a Trading and Strategy update announcing that the Board had
resolved to sell the Workshop Coffee, Cambridge Sleep Sciences and
Centurian Automotive businesses. The Group has therefore committed
to a plan to sell these businesses, which are available for
immediate sale and programs to locate buyers for each business have
been initiated. The directors expect to sell the businesses within
the current financial year ending 1 July 2023.
As a result of this announcement the financial results of the
businesses being disposed of are presented as discontinued
operations in the statement of profit or loss and total
comprehensive income, with their assets and liabilities being
presented as assets of disposal groups held for sale and
liabilities of disposal groups held for sale in the consolidated
statement of financial position.
The comparative information in the statement of profit or loss
and total comprehensive income has been re-presented to show these
businesses as discontinued for the period ended 30 December
2021.
3. LOSS PER SHARE
31-Dec-22 30-Dec-21 02-Jul-22
Unaudited Unaudited Audited
GBP'000s GBP'000s GBP'000s
------------------------------------------ ------------ ------------ ------------
Profit/(loss) after tax from continuing
operations (2,041) 373 (5,606)
Loss after tax from discontinued
operations (724) (1,087) (3,908)
Total loss after income tax (2,765) (714) (9,514)
Non-controlling interest (discontinued
operations) 63 60 190
Loss after income tax from continuing
operations attributable to the
owners of Barkby Group PLC (2,041) 373 (5,606)
Loss after income tax from discontinued
operations attributable to the
owners of Barkby Group PLC (661) (1,027) (3,718)
Total loss after income tax attributable
to the owners of Barkby Group Plc (2,702) (654) (9,324)
pence pence pence
Basic loss per share from continuing
operations (1.42) 0.27 (4.02)
Basic loss per share from discontinued
operations (0.46) (0.75) (2.68)
(1.89) (0.48) (6.70)
============ ============ ============
Weighted average number of shares Number Number Number
Weighted average number of ordinary
shares used in calculating basic
earnings per share 143,261,138 136,187,437 139,525,311
4. PROPERTY, PLANT AND EQUIPMENT
Property, Land and Leasehold Plant Computer Fixtures Total
plant and equipment buildings improvements and equipment equipment and fittings
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
---------------------- ----------- -------------- --------------- ----------- -------------- ---------
Net book value
At 3 July 2022 1,817 92 174 53 318 2,454
Additions 88 5 126 18 45 282
Disposals 0 0 0 0 0 0
Depreciation
charge (16) (6) (32) (4) (63) (121)
----------------------- ----------- -------------- --------------- ----------- -------------- ---------
At 31 December
2022 1,889 91 268 67 300 2,615
Land and buildings includes GBP700,000 of freehold land.
Freehold land is not depreciated.
5. INTANGIBLE ASSETS
Intangible assets Computer
software
GBP'000s
--------------------- -----------
Net book value
At 3 July 2022 31
Additions 0
Amortisation charge (31)
---------------------- -----------
At 31 December
2022 0
6. RIGHT-OF-USE ASSETS
Right-of-use assets Pubs
GBP'000s
------------------------ ---------
Net book value
At 3 July 2022 2,539
Additions and renewals 752
Depreciation charge (186)
------------------------- ---------
At 31 December
2022 3,105
In October 2022, the Group entered into a new 15 year lease for
The Eliot Arms pub in South Cerney. The resultant right-of-use
asset was recognised at GBP752,000, with a lease liability of
GBP752,000 also being recognised.
7. CASH AND CASH EQUIVALENTS
31-Dec-22 30-Dec-21 02-Jul-22
Unaudited Unaudited Audited
GBP'000s GBP'000s GBP'000s
--------------------------------------------- ----------- ----------- ----------
Cash at bank 623 0 2
Cash in transit 78 10 28
Petty cash 3 3 3
----------- ----------- ----------
704 13 33
Reconciliation to cash and cash equivalents
at the end of the financial period
The above figures are reconciled to
cash and cash equivalents at the end
of the period as shown in the statement
of cash flows as follows:
Balances as above 704 13 33
Bank overdraft (554) (728) (650)
Balance of cash and cash equivalents
per statement of cash flows 150 (715) (617)
=========== =========== ==========
8. LEASE LIABILITIES
Balance New leases Repayments Interest Balance
at and renewals charge at
03-Jul-22 31-Dec-22
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
------------------------------- ----------- -------------- ----------- --------- -----------
Pub Leases 3,062 752 (266) 85 3,633
Reported as
Current lease liabilities 491 550
Non-current lease liabilities 2,571 3,083
----------- -----------
Total lease liabilities 3,062 3,633
=========== ===========
As described in note 6. Right-of-use assets, the Group entered
into a new lease for The Eliot Arms, South Cerney in October 2022.
The lease liability recognised at commencement of the lease was
GBP752,000.
9. BORROWINGS
Balance Proceeds Repayments Balance
at of borrowings at
03-Jul-22 31-Dec-22
GBP'000s GBP'000s GBP'000s GBP'000s
---------------------------- ----------- --------------- ----------- -----------
Bank overdrafts 650 0 (96) 554
Bank loans 980 0 (148) 832
Other loans 3,002 3,428 (303) 6,127
Loans from related parties 3,092 3,731 0 6,823
----------- --------------- ----------- -----------
Total borrowings 7,724 7,159 (547) 14,336
=========== =============== =========== ===========
Reported as
Current liabilities 4,016 3,934
Non-current liabilities 3,708 10,402
----------- -----------
Total borrowings 7,724 14,336
=========== ===========
10. SHARE CAPITAL
Issued and fully paid:
31-Dec-22 2-Jul-22 31-Dec-22 2-Jul-22
No. of shares No. of shares GBP'000s GBP'000s
------------------------- -------------- ------------------ ---------- ---------
Ordinary shares of
GBP0.00860675675675676
each 143,261,138 143,261,138 1,233 1,233
============== ================== ========== =========
11. OPERATING SEGMENTS
31-Dec-22
26 Weeks Real Estate Barkby Total
Pubs
Unaudited GBP'000 GBP'000 GBP'000
Revenue 0 3,396 3,396
Cost of sales 0 (2,441) (2,441)
------------ -------- --------
Gross profit 0 955 955
Administrative expenses (33) (2,433) (2,466)
Other income 98 0 98
Movement in fair values 0 0 0
Impairment of goodwill 0 0 0
------------ -------- --------
Profit/(loss) before interest
and income tax expense 65 (1,478) (1,413)
Net finance costs (459) (169) (628)
Income Tax expense 0 0 0
Profit/(loss) after income tax
expense (394) (1,647) (2,041)
------------ -------- --------
Included within administrative
expenses:
Group costs 845
Depreciation and amortisation 338
Earnings/(loss ) before interest,
tax, depreciation and amortisation,
excluding group costs and goodwill
impairment (295)
30-Dec-21
26 Weeks Real Estate Barkby Total
Pubs
Unaudited GBP'000 GBP'000 GBP'000
Revenue 50 3,219 3,269
Cost of sales (27) (2,081) (2,108)
------------ -------- --------
Gross profit 23 1,138 1,161
Administrative expenses (124) (1,591) (1,715)
Other income 0 1 1
Movement in fair values 1,250 0 1,250
Impairment of goodwill 0 0 0
------------ -------- --------
Profit/(loss) before interest
and income tax expense 1,149 (452) 697
Net finance costs (219) (105) (324)
Income Tax expense 0 0 0
Profit/(loss) after income tax
expense 930 (557) 373
------------ -------- --------
Included within administrative
expenses:
Group costs 704
Depreciation and amortisation 276
Earnings before interest, tax,
depreciation and amortisation,
excluding group costs and goodwill
impairment 528
02-Jul-22
52 Weeks Real Estate Barkby Total
Pubs
Audited GBP'000 GBP'000 GBP'000
Revenue 4,309 5,989 10,298
Cost of sales (1,808) (4,038) (5,846)
------------ -------- --------
Gross profit 2,501 1,951 4,452
Administrative expenses (268) (3,914) (4,182)
Other income 0 83 83
Movement in fair values 1,250 0 1,250
Impairment of goodwill 0 (6,296) (6,296)
------------ -------- --------
Profit/(loss) before interest
and income tax expense 3,483 (8,176) (4,693)
Net finance costs (653) (281) (934)
Income Tax expense 21 0 21
Profit/(loss) after income tax
expense 2,851 (8,457) (5,606)
------------ -------- --------
Included within administrative
expenses:
Group costs 2,033
Depreciation and amortisation 545
Earnings/(loss ) before interest,
tax, depreciation and amortisation,
excluding group costs and goodwill
impairment 698
12. COPIES OF INTERIM REPORT
Copies of the interim report are available to the public from
the Company at 115B Innovation Drive, Milton Park, Abingdon,
Oxfordshire, OX14 4RZ and are available on the website at
www.barkbygroup.com.
This information is provided by RNS, the news service of the
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END
IR URRAROSUOOUR
(END) Dow Jones Newswires
March 31, 2023 02:00 ET (06:00 GMT)
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