REG - Assoc British Enging - Half-year Report <Origin Href="QuoteRef">ASBE.L</Origin> - Part 2

Associated British EngineeringAnnouncement

30/11/2017 07:05

- Part 2: For the preceding part double click  ID:nRSd9184Xa 

activities consist of the manufacture and
supply of diesel engines and spare parts for diesel engines together with
associated repair work. 
 
Akoris Trading Limited did not carry out trading activity in the period. 
 
Associated British Engineering Plc is the group holding company. 
 
15 
 
ASSOCIATED BRITISH ENGINEERING PLC 
 
NOTES TO THE INTERIM REPORT (continued) 
 
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 
 
2       SEGMENTAL ANALYSIS (continued) 
 
                                  Associated British Engineering PLC    British Polar Engines Ltd    Akoris Trading Ltd    Consolidated  
                                  £'000                                 £'000                        £'000                               
 Six months to 30 September 2017                                                                                                         
 External sales                   -                                     666                          -                     666           
                                                                                                                                         
 Segment result (PBIT)            (87)                                  (285)                        (1)                   (373)         
                                                                                                                                         
 Net finance expense                                                                                                       (4)           
 Taxation                                                                                                                  -             
                                                                                                                                         
 Profit after tax                                                                                                          (377)         
                                                                                                                                         
 Other information                                                                                                                       
 Capital additions                -                                     -                            -                     -             
                                                                                                                                         
 Balance sheet                                                                                                                           
 Segment assets                   137                                   2,393                        30                    2,560         
                                                                                                                                         
 Six months to 30 September 2016                                                                                                         
 External sales                   -                                     522                          -                     522           
                                                                                                                                         
 Segment result (PBIT)            (44)                                  (505)                        (2)                   (551)         
                                                                                                                                         
 Net finance expenses                                                                                                      8             
 Taxation                                                                                                                  -             
                                                                                                                                         
 Profit after tax                                                                                                          (543)         
                                                                                                                                         
 Other information                                                                                                                       
 Capital additions                -                                     4                            -                     4             
                                                                                                                                         
 Balance sheet                                                                                                                           
 Segment assets                   137                                   3,371                        29                    3,537         
 
 
There was two customers who contributed more than 10% of the total group
revenue for the six months ending 30 September 2017 (2016: three customers). 
 
16 
 
ASSOCIATED BRITISH ENGINEERING PLC 
 
NOTES TO THE INTERIM REPORT (continued) 
 
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 
 
3.       PRINCIPAL RISKS AND UNCERTAINTIES 
 
In light of the industry in which the trading subsidiaries operate, there are
a number of risks and uncertainties which could have an impact on the
performance of the Group for the remaining six months of the year. 
 
The Directors have considered the principal risks and uncertainties relating
to its future business which might affect the financial performance of the
Group in 2017. The Group continues to be exposed to the principal risks and
uncertainties as described on page 8 of the 2017 Annual Report and Accounts. A
copy of the 2017 Annual Report and Accounts is available on the Company's
website. 
 
The principal risks currently facing the Group are set out below but are not
arranged in order of relative impact or probability: 
 
·      Dependency on key markets; 
 
·      Timing and renewal of key contracts; 
 
·      Foreign exchange risk; 
 
·      Recruitment and retention of key employees; 
 
·      Identification of acquisitions that fit the Group's strategy; 
 
·      Compliance with laws and regulations 
 
The Directors meet on a regular basis to discuss these risks and uncertainties
and appropriate actions are taken to mitigate these risks and to develop
suitable strategies to protect the long term performance of the Group. 
 
17 
 
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