Brierley Investments - Final Results
September 10 1998 - 9:14AM
UK Regulatory
RNS No 7663r
BRIERLEY INVESTMENS LIMITED
10th September 1998
PRELIMINARY STATEMENT OF ANNUAL RESULTS
FOR THE YEAR ENDED 30 JUNE 1998
30 June 1998 30 June 1997
NZ$thousands
OPERATING REVENUE 2,869,930 2,531,889
NET OPERATING SURPLUS
BEFORE TAXATION* 264,036 254,527
Taxation 31,542 18,042
SURPLUS AFTER TAXATION 232,494 236,485
Minority Interests 50,398 58,528
Equity Earnings 104,809 133,378
Investment Writedowns and
Provisions 1,191,191 NIL
NET SURPLUS (904,286) 311,335
Amount absorbed by final dividend NIL 133,862
* there were no extraordinary items
Rate of final dividend per share NIL 5 cents
Amount absorbed thereby NA $133,862,000
Imputation tax credit per share NA 0.985075 cents
Supplementary dividend per share NA 0.352941 cents
Adjusted earnings per share (29.4) cents 11.2 cents
1. All amounts in New Zealand dollars or cents.
2. The Results and the attached Statement of Assets, Liabilities and
Shareholders' Equity have been audited.
3. A final dividend will not be paid.
4. The Annual Report will be sent to shareholders about 1 October 1998. The
Report will be available to the public at the Company's office 4th Floor,
Stratton House, Stratton Street, London W1X 6BN.
5. The Annual Meeting will be held in the Michael Fowler Centre, Wakefield
Street, Wellington, New Zealand on 10 November 1998, commencing at 11.00
a.m.
R O Douglas
Executive Chairman
10 September 1998
STATEMENT OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY
CONSOLIDATED
At end of current As shown in last
full year Annual Report
$NZ'000 $NZ'000
CURRENT ASSETS
(a) Cash 165,708 401,594
(b) Receivables 295,114 286,202
(c) Short-term investments 2,632 7,579
(d) Inventories 224,632 274,445
(c) Other NIL NIL
(f) TOTAL CURRENT ASSETS 688,086 969,820
NON-CURRENT ASSETS
(9) Receivables NIL NIL
(h) Investments 5,891,718 5,836,338
(i) Property, plant and equipment 1,456,263 1,386,971
(j) Intangibles 205,673 137,364
(k) Other NIL NIL
(l) TOTAL NON-CURRENT ASSETS 7,553,654 7,360,673
(m) TOTAL ASSETS 8,241,740 8,330,493
CURRENT LIABILITIES
(a) Accounts payable 634,937 623,161
(b) Borrowings 1,315,872 452,978
(c) Provisions (5,263) 948
(d) Other NIL NIL
(e) TOTAL CURRENT LIABILITIES 1,945,546 1,077,087
NON-CURRENT LIABILITIES
Accounts payable NIL NIL
(9) Borrowings 2,944,928 2,703,934
(h) Provisions 46,737 28,577
(i) Other NIL NIL
(j) TOTAL NON-CURRENT LIABILITIES 2,991,665 2,732,511
(k) TOTAL LIABILITIES 4,937,211 3,809,598
(l) NET ASSETS 3,304,529 4,520,895
SHAREHOLDERS EQUITY
(a) Paid in share capital 2,106,203 1,850,565
(b) Reserves (594,408) (571,227)
(c) Retained profits 1,180,388 2,191,723
(d) Convertible notes NIL 269,414
(e) Outside equity interests in
subsidiaries 612,346 780,420
(f) TOTAL SHAREHOLDERS EQUITY 3,304,529 4,520,895
Certain comparatives have been restated to correspond with 1998 presentation.
END
FR SFAFESUAUFSU
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