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

Associated British EngineeringAnnouncement

27/11/2015 14:41

- Part 2: For the preceding part double click  ID:nRSa1424Ha 

                                           640            1,568          2,667          
                                                                                                ======         ======         ======         
 
 
All of the above revenue arises from diesel, related engineering activities
and aluminium trading. All revenue originates in the United Kingdom. 
 
In the periods detailed above all of the assets held by the group were located
in the United Kingdom and all capital expenditure was incurred within the
United Kingdom. 
 
Operating segments 
 
The following segment information has been prepared in accordance with IFRS 8,
"Operating Segments", which defines requirements for the disclosure of
financial information of an entity's operating segments. 
 
ASSOCIATED BRITISH ENGINEERING PLC 
 
NOTES TO THE INTERIM REPORT (continued) 
 
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015 
 
2.         SEGMENTAL ANALYSIS (continued) 
 
Operating segments 
 
The Board consider the Group on an individual company basis.  Reports by
individual companies are used by the chief decision-makers in the Group. 
Significant operating segments are Associated British Engineering Plc, British
Polar Engines Limited and Akoris Trading Limited 
 
The Group's operations are located in the United Kingdom.  Any transactions
between business units are on normal commercial terms and conditions. 
 
British Polar Engines Limited's activities consist of the manufacture and
supply of diesel engines and spare parts for diesel engines together with
associated repair work. 
 
Akoris Trading Limited's activities consist of commodity and natural resource
trading, finance and investment. 
 
Associated British Engineering Plc is the group holding company. 
 
 Six months to          Associated British Engineering Plc  British Polar Engines Ltd  AkorisTrading Ltd  Consolidated  
 30 September 2015      £'000                               £'000                      £'000              £'000         
                                                                                                                        
 External sales                                             640                        -                  640           
                        ------------                        ------------               ------------       -----------   
 Segment result (PBIT)  (17)                                (459)                      (1)                (467)         
                        -------------                       ------------               -------------      -----------   
 Net finance income                                                                                       (1)           
 Taxation                                                                                                               
                                                                                                          -----------   
 Profit after tax                                                                                         (468)         
                                                                                                          =====         
 Other information                                                                                                      
 Capital additions      -                                   3                          -                  3             
                                                                                                                        
 Balance sheet                                                                                                          
 Segment assets         199                                 4,036                      32                 4,267         
                        =====                               ======                     =======            ======        
                                                                                                                        
 Six months to                                                                                                          
 30 September 2014                                                                                                      
                                                                                                                        
 External sales         -                                   1,264                      304                1,568         
                        ------------                        ------------               ------------       -----------   
 Segment result (PBIT)  (85)                                15                         (110)              (180)         
                        -------------                       ------------               -------------      -----------   
 Net finance expenses                                                                                     1             
 Taxation                                                                                                 -             
                                                                                                          -----------   
 Profit after tax                                                                                         (179)         
                                                                                                          =====         
 Other information                                                                                                      
 Capital additions      -                                   3                          -                  3             
                                                                                                                        
 Balance sheet                                                                                                          
 Segment assets         190                                 4,422                      249                4,861         
                        =====                               ======                     =======            ======        
 
 
ASSOCIATED BRITISH ENGINEERING PLC 
 
NOTES TO THE INTERIM REPORT (continued) 
 
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015 
 
2.         SEGMENTAL ANALYSIS (continued) 
 
There were three customers who contributed more than 10% of the total group
revenue for the six months ending 30 September 2015 (2014: three customers). 
 
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 2016. The Group continues to be exposed to the principal risks and
uncertainties as described on page 19 of the 2015 Annual Report and Accounts.
A copy of the 2015 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. 
 
This information is provided by RNS
The company news service from the London Stock Exchange