REG - Braime Group PLC - Interim Results for Six Months Ended 30 June 2022
05/09/2022 12:30
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220905:nRSE2982Ya&default-theme=true
RNS Number : 2982Y Braime Group PLC 05 September 2022
Braime Group PLC
("Braime" or the "Company" and together with its subsidiaries the "Group")
Interim Results for the six months ended 30th June 2022
The Company presents its unaudited interims results for the six months ended
30 June 2022:
Performance
As set out in our 2021 Annual Report announced on 27(th) April 2022, the
directors had significant concerns about the macro-economic challenges facing
the Group. These concerns remain, however, the directors are very pleased to
report that Group sales revenue for the first six months of 2022 increased by
17% to £21.3m when compared to £18.2m for the same period in 2021, while
profit before tax increased to £1.6m compared to £885,000 for the same
period in 2021. The retained profit for the six-month period includes a
further £350,000 provision for repairs to our chain cell area in anticipation
of additional costs as previously announced in June 2022. Profit from
operations before exceptional items was £2.1m compared to £984,000 for the
same six month-period last year. All sectors of the Group have performed
strongly, following a sustained surge in customer demand, which the directors
attribute to recovery from the covid pandemic alongside constraints in the
supply chain which have driven up prices. The automotive sector has
continued to perform well after the upturn in the spring of 2021 and the 4B
division has also seen strong performances especially in the USA and
Australia.
The performance of the Group has benefited from Sterling weakening against the
US dollar during 2022. A significant proportion of the Group's income is
earned in the USA, and consequently, Sterling weakening from a rate of 1.348
at the end of 2021 to 1.214 at the end of June 2022 results in an increase in
profit for the Group when reported in Sterling. The results also include
£186,000 of profit (shown in other operating income) derived from the
disposal of the Group's property in Lamotte Warfussee, following the
relocation of 4B France's business to its new warehouse at Villers
Bretonneux. Accordingly, the trading performance of the Group in the first
half of the year has surpassed previous periods.
Dividends
In line with the Group's policy to maintain dividend growth, balanced
alongside the Group's requirement for investment in capital to support long
term growth, the directors have decided to increase the interim dividend from
4.25p to 4.75p per share. This dividend will be paid on 14th October 2022 to
the Ordinary and 'A' Ordinary shareholders on the register on the 30th
September 2022. The associated ex-dividend date is 29(th) September 2022.
Braime Pressings Limited
External sales revenue of £3.0m in the first 6 months of 2022 was 13% up on
the same period last year driven by strong demand from the automotive sector
as well as an increase in steel commodity prices which has driven up sales
prices. Intercompany sales also increased by £666,000 driven by stronger
turnover in the 4B division. The manufacturing division made a profit before
tax of £516,000 as a result of the higher demand for its products.
4B Division
Our distribution division's external sales revenue of £18.3m increased by 18%
when compared to £15.6m for the same period last year. Intercompany trading
increased by 17% to £3.1m compared to £2.6m for the same period in 2021. The
division has benefitted from an increase in demand across most geographical
and product sectors as customers have started to invest in new projects
following the Covid pandemic. The £2.8m increase in external sales has had
a positive direct impact on profitability, with profit after tax for the 4B
division for the six-month period increasing to £1.4m as compared to
£494,000 for the same period last year.
Balance Sheet
Net assets of the Group as at 30th June 2022 amounted to £17.3m (30th June
2021 - £15.4m). Tangible fixed asset additions in during the period
amounted to £893,000. Of this, £570,000 relates to the new
climate-controlled warehouse at our Leeds headquarters which became
operational in May 2022. Other capital investments relate to items of
manufacturing equipment and IT expenditure. Intangible fixed asset additions
of £725,000 relate to the purchase of the exclusive sales rights and customer
lists for a specialised range of electronic components used in the bulk
material handing industry, which complement and enhance the 4B division's
existing products.
Inventory of £11.2m has increased by £2.1m when compared to 30th June 2021
and increased by £1.1m when compared to 31st December 2021. This is in part
due to large increases in raw material prices, and in part, due to stocking up
to meet increased customer demand and mitigate against turbulence in the
supply chain. Trade receivables of £8.5m have increased by £1.0m when
compared to 30th June 2021 and increased by £2.3m when compared to 31st
December 2021. This increase is a direct consequence of the rise in revenue in
2022, and in fact, the Group's overall debtor days are lower than as at June
2021 and the same as at December 2021. Trade payables of £6.1m have increased
by £729,000 when compared to 30th June 2021 and increased by £1.2m when
compared to 31st December 2021 in line with expectations from the increased
purchases of stock.
Cash flow
The net cash position of the Group at the end of June 2022 was £201,000
overdrawn. Cash generated from operations before working capital movements
was £2.5m. Working capital (inventory, receivables and payables)
increases for the six-month period came to £1.7m as a consequence of
increased trading activity outlined above. Provisions, which all relate to
the Chain Cell project, increased by £115,000, being the net of the
additional £350,000 mentioned above and amounts utilised during the period,
whilst investment in capital projects gave rise to outflows of £1.6m.
Proceeds from disposal of £218,000 relate primarily to the sale of the old
French property. The impact on cash of loans movement was negligible, the
Group having repaid £233,000 of capital whilst taking up new loans of
£236,000. Overall, net cash reduced by £1.2m during the six months to 30th
June 2022. The business has sufficient headroom within its £3.5m bank
overdraft facility and management remain focused in ensuring that working
capital requirements, particularly for stock and debtors, are carefully
monitored and controlled.
Principal exchange rates
The Group reports its results in Sterling, its presentational currency. The
Group operates in six other currencies and the average of the principal
exchange rates in use during the half year and as at 30th June 2022 are shown
in the table below, along with comparatives. As mentioned previously, a
significant proportion of the Group revenues are in the USA, and the Group has
incurred foreign exchange gains from the strengthening of the US dollar
against the Sterling since 31st December 2021. The gain on translation of
overseas assets amounted to £604,000 for the six-month period, as shown in
the consolidated statement of comprehensive income table on page 5.
Avg rate Avg rate Avg rate Closing rate Closing rate Closing rate
Currency Symbol HY 2022 HY 2021 FY 2021 30th Jun 2022 30th Jun 2021 31st Dec 2021
Australian Dollar AUD 1.799 1.813 1.838 1.766 1.840 1.859
Chinese Renminbi (Yuan) CNY 8.354 8.993 8.875 8.137 8.941 8.606
Euro EUR 1.184 1.156 1.165 1.162 1.165 1.191
South African Rand ZAR 20.015 20.257 20.490 19.896 19.711 21.494
Thai Baht THB 43.586 43.064 44.073 42.926 44.290 44.690
United States Dollar USD 1.288 1.389 1.374 1.214 1.382 1.348
Key performance indicators
The Group uses the following key performance indicators to assess the
performance of the Group as a whole and of the individual businesses:
Key performance indicator Note Half year Half year Full year
2022 2021 2021
Turnover growth 1 17.0% 13.0% 11.0%
Gross margin 2 47.2% 47.2% 48.4%
Operating profit 3 £2.09m £0.98m £2.49m
Stock days 4 164 days 170 days 184 days
Debtor days 5 54 days 59 days 54 days
Notes to KPI's
1. Turnover growth
The Group aims to increase shareholder value by measuring the year-on-year
growth in Group revenue. Revenues are up due to the strong demand in both
the manufacturing and material handling sectors and a rise in raw material
prices.
2. Gross margin
Gross profit (revenue less change in inventories and raw materials used) as a
percentage of revenue is monitored to maximise profits available for
reinvestment and distribution to shareholders. Gross margin is in line with
the same period last year. This is particularly pleasing given the increase
in unit cost of sales. The directors continue to monitor the margins carefully
for further movement.
3. Operating profit
Sustainable growth in operating profit is a strategic priority to enable
ongoing investment and increase shareholder value. Operating profits have
improved as a direct result of the increase in sales in both the manufacturing
and the 4B division.
4. Stock days
The average value of inventories divided by raw materials and consumables used
and changes in inventories of finished goods and work in progress expressed as
a number of days is monitored to ensure the right level of stocks are held in
order to meet customer demands whilst not carrying excessive amounts which
impacts upon working capital requirements. Stock days have reduced despite
the absolute value of inventory increasing with as a result of the strong
sales performance in the period. This reflects management's continued focus
on working capital.
5. Debtor days
The average value of trade receivables divided by revenue expressed as a
number of days. This is an important indicator of working capital
requirements. Debtor days at 54 days are below the standard payment terms of
60 days and have improved from the same period last year. Management remain
focused on reducing this to improve cash.
Other metrics monitored weekly or monthly include quality measures (such as
customer complaints), raw materials buying prices, capital expenditure, line
utilisation, reportable accidents and near-misses.
Outlook for the second half of 2022
As advised above, many aspects of our Group profile and the exchange rate
movement in the first six months of 2022 have contributed to the Group's
exceptionally good interim result, a result which has far exceeded our
expectations at the start of the year.
Some of these factors may continue to benefit the Group for the remainder of
this year. However, at some point, the current global recession is going to
have negative effects on us too. The likely fall in consumer demand will
inevitably reduce the demand for truck parts, both for new commercial vehicles
and for spares, high demand for which has been driven over the past 12 months
by high consumer demand post the pandemic. Most of the large infrastructure
projects which had been delayed by the pandemic have or are reaching
completion.
Although most of our customers handling, distributing and processing cereals
will continue to benefit from the current very high commodity prices,
ultimately even their new investment will be more cautious given the increase
in the cost of new machinery and because of higher interest rates where needed
to finance investments. Large areas where investment has been very high in
recent years remain "no go" areas due to the ongoing conflict in Ukraine.
While thus far, our margins have benefited from our policy of substantially
increasing our stocks ahead of the huge cost increase in raw materials, the
effect of these cost increases will increasingly feed through and result in
lower gross margins. We are also going to see the direct negative impact of
increases in our own overhead costs following on from much higher energy and
freight costs. The unknown is not a question of if these negative factors
will affect us, but of when, and the degree.
Nevertheless, the Group remains well placed to weather these adversities.
Our main concerns, and principal risks, remain the Group's exposure to
currency fluctuations and the very large negative impact of much higher costs
on our cash flow. Cash flow is an issue we are focused on and continuously
and carefully monitoring, while still aiming to complete the long-term capex
investments already in progress.
Employees
All our employees in the Group, regardless of location continue to make a
major contribution and we thank them for their efforts.
For further information please contact:
Nicholas Braime/Cielo Cartwright
0113 245 7491
W. H. Ireland Limited
Katy Mitchell
0113 394 6628
Braime Group PLC Unaudited Unaudited Audited
6 months to
6 months to
Consolidated income statement for the six months
year to
30th June 30th June
ended 30th June 2022
2022
2021 31st December
Note 2021
£'000 £'000 £'000
Revenue 21,308 18,212 36,406
Changes in inventories of finished goods and work in progress
841 51 869
Raw materials and consumables used (12,099) (9,661) (19,656)
Employee benefits costs (4,859) (4,366) (8,930)
Depreciation expense (738) (655) (1,334)
Other expenses (2,568) (2,597) (4,954)
Other operating income 200 5 88
Profit from operations before exceptional item 2,085 989 2,489
Exceptional item (350) - (1,217)
Profit from operations 1,735 989 1,272
Finance costs (127) (106) (205)
Finance income - 2 3
Profit before tax 1,608 885 1,070
Tax expense (477) (220) (320)
Profit for the period 1,131 665 750
Profit attributable to:
Owners of the parent 1,123 608 665
Non-controlling interests 8 57 85
1,131 665 750
Basic and diluted earnings per share 2 78.54p 46.18p 52.08p
Braime Group PLC Unaudited Unaudited Audited
Consolidated statement of comprehensive income for the six months 6 months to 6 months to year to
ended 30th June 2022 30th June 30th June 31st December
2022 2021 2021
£'000 £'000 £'000
Profit for the period 1,131 665 750
Items that will not be reclassified subsequently to profit or loss
Net pension remeasurement gain on post-employment benefits - - 90
Items that may be reclassified subsequently to profit or loss
Foreign exchange gains/(losses) on re-translation of overseas operations 604 (97) 87
Other comprehensive income for the period 604 (97) 177
Total comprehensive income for the period 1,735 568 927
Total comprehensive income attributable to:
Owners of the parent 1,735 489 817
Non-controlling interests - 79 110
1,735 568 927
The foreign currency movements arise on the re-translation of overseas
subsidiaries' opening balance sheets at closing rates.
Braime Group PLC Unaudited Unaudited Audited
Consolidated balance sheet at 30th June 2022 6 months to 6 months to year to 31st
30th June 30th June December
2022 2021 2021
£'000 £'000 £'000
Non-current assets
Property, plant and equipment 9,142 8,216 8,713
Intangible assets 709 31 25
Right of use assets 534 683 632
Total non-current assets 10,385 8,930 9,370
Current assets
Inventories 11,174 9,083 10,124
Trade and other receivables 8,470 7,472 6,211
Cash and cash equivalents 1,533 1,673 1,463
Total current assets 21,177 18,228 17,798
Total assets 31,562 27,158 27,168
Current liabilities
Bank overdraft 1,734 909 489
Trade and other payables 6,073 5,344 4,895
Other financial liabilities 2,715 2,661 2,902
Corporation tax liability 177 70 41
Total current liabilities 10,699 8,984 8,327
Non-current liabilities
Financial liabilities 2,554 2,479 2,046
Deferred income tax liability 36 276 24
Provision for liabilities 939 - 1,054
Total non-current liabilities 3,529 2,755 3,124
Total liabilities 14,228 11,739 11,451
Total net assets 17,334 15,419 15,717
Capital and reserves
Share capital 360 360 360
Capital reserve 257 257 257
Foreign exchange reserve 523 (270) (89)
Retained earnings 16,387 15,296 15,382
Total equity attributable to the shareholders of the parent company 17,527 15,643 15,910
Non-controlling interests (193) (224) (193)
Total equity 17,334 15,419 15,717
Unaudited Unaudited Audited
Braime Group PLC 6 months to 6 months to year to
Consolidated cash flow statement for the six months 30th June 30th June 31st December
ended 30th June 2022 Note 2022 2021 2021
£'000 £'000 £'000
Operating activities
Net profit 1,131 665 750
Adjustments for:
Depreciation 738 655 1,334
Foreign exchange gains/(losses) 480 (4) 210
Finance income - (2) (3)
Finance expense 127 106 205
Gain on sale of plant, machinery and motor vehicles (186) (5) (38)
Adjustment in respect of defined benefit scheme - - 91
Income tax expense 477 220 320
Income taxes paid (310) (329) (679)
Operating profit before changes in working capital and provisions
2,457 1,306 2,190
Increase in trade and other receivables (2,278) (1,518) (288)
Increase in inventories (1,050) (219) (1,259)
Increase in trade and other payables 1,664 1,138 179
(Decrease)/increase in provisions (115) - 1,054
(1,779) (599) (314)
Cash generated from operations 678 707 1,876
Investing activities
Purchases of property, plant, machinery and motor vehicles (1,618) (991) (2,074)
Sale of plant, machinery and motor vehicles 218 5 73
Interest received - 2 2
(1,400) (984) (1,999)
Financing activities
Proceeds from long term borrowings 236 532 1,145
Repayment of borrowings (233) (234) (452)
Repayment of hire purchase creditors (73) (109) (182)
Repayment of lease liabilities (138) (127) (234)
Bank interest paid (92) (55) (124)
Lease interest paid (29) (37) (65)
Hire purchase interest paid (6) (15) (16)
Dividends paid (118) (112) (173)
(453) (157) (101)
Decrease in cash and cash equivalents (1,175) (434) (224)
Cash and cash equivalents, beginning of period 974 1,198 1,198
Cash and cash equivalents (including overdrafts), end of period
3 (201) 764 974
Braime Group PLC
Consolidated statement of
changes in equity for the Foreign
six months ended Share Capital Exchange Retained Minority Total
30th June 2022 Capital Reserve Reserve Earnings Total Interests Equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 31st December
2021 360 257 (89) 15,382 15,910 (193) 15,717
Comprehensive income
Profit - - - 1,123 1,123 8 1,131
Other comprehensive income
Foreign exchange gain/(loss)
on re-translation of overseas operations
- - 612 - 612 (8) 604
Total other comprehensive
income - - 612 - 612 (8) 604
Total comprehensive
income - - 612 1,123 1,735 - 1,735
Transactions with owners
Dividends - - - (118) (118) - (118)
Total transactions with owners
- - - (118) (118) - (118)
Balance at 30th June 2022 360 257 523 16,387 17,527 (193) 17,334
Braime Group PLC
Consolidated statement of
changes in equity for the Foreign
six months ended Share Capital Exchange Retained Minority Total
30th June 2021 Capital Reserve Reserve Earnings Total Interests Equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 31st December 2020
360 257 (151) 14,800 15,266 (303) 14,963
Comprehensive income
Profit - - - 608 608 57 665
Other comprehensive income
Foreign exchange (loss)/gain on re-translation of overseas
operations
- - (119) - (119) 22 (97)
Total other comprehensive
income - - (119) - (119) 22 (97)
Total comprehensive
income - - (119) 608 489 79 568
Transactions with owners
Dividends - - - (112) (112) - (112)
Total transactions with owners - - - (112) (112) - (112)
Balance at 30th June 2021 360 257 (270) 15,296 15,643 (224) 15,419
Braime Group PLC
Consolidated statement of
changes in equity for the Foreign
year ended 31st December Share Capital Exchange Retained Minority Total
2021 Capital Reserve Reserve Earnings Total Interests Equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1st January 2021 360 257 (151) 14,800 15,266 (303) 14,963
Comprehensive income
Profit - - - 665 665 85 750
Other comprehensive income
Net pension remeasurement
gain recognised directly in
equity - - - 90 90 - 90
Foreign exchange losses on
re-translation of overseas
operations - - 62 - 62 25 87
Total other comprehensive
income - - 62 90 152 25 177
Total comprehensive
income - - 62 755 817 110 927
Transactions with owners
Dividends - - - (173) (173) - (173)
Total transactions with owners - - - (173) (173) - (173)
Balance at 31st December
2021 360 257 (89) 15,382 15,910 (193) 15,717
1. Accounting policies
Basis of preparation
The interim financial report has been prepared using accounting policies that
are consistent with those used in the preparation of the full financial
statements to 31st December 2021 and those which management expects to apply
in the Group's full financial statements to 31st December 2022.
This interim financial report is unaudited. The comparative financial
information set out in this interim financial report does not constitute the
Group's statutory accounts for the period ended 31st December 2021 but is
derived from the accounts. Statutory accounts for the period ended 31st
December 2021 have been delivered to the Registrar of Companies. The
auditors have reported on those accounts. Their audit report was unqualified
and did not contain any statements under Section 498 of the Companies Act
2006.
The Group's condensed interim financial information has been prepared in
accordance with International Financial Reporting Standards ('IFRS') as
adopted for the use in the European Union and in accordance with IAS 34
'Interim Financial Reporting' and the accounting policies included in the
Annual Report for the year ended 31st December 2021, which have been applied
consistently throughout the current and preceding periods.
(a) The Group has adopted the following new or amended standards as of
1st January 2022:
· Annual improvements to IFRS standards 2018-2020 cycle - Minor
amendments to IFRS 1, IFRS 9 and IAS 41 - effective accounting periods
beginning on or after 1st January 2022.
· Amendments to IFRS 3 - Reference to the Conceptual Framework -
Updates certain references to the Conceptual Framework for Financial Reporting
without changing the accounting requirements for business combinations -
effective accounting periods beginning on or after 1st January 2022.
· Amendments to IAS 16 - Property, Plant and Equipment: Proceeds
before Intended Use - Requires amounts received from selling items produced
while the company is preparing the asset for its intended use to be recognised
in profit or loss, and not as an adjustment to the cost of the asset -
effective accounting periods beginning on or after 1st January 2022.
· Amendment to IAS 37 Onerous Contracts: Cost of Fulfilling a
Contract - Specifies which costs to include when assessing whether a contract
will be loss-making - effective accounting period beginning on or after 1st
January 2022.
(b) New and amended standards applicable for annual period beginning on
1st January 2023 and beyond:
· IFRS 17 Insurance Contracts - Establishes new principles for the
recognition, measurement, presentation and disclosure of insurance contracts
issued, reinsurance contracts held and qualifying investment contracts with
discretionary participation features issued - effective accounting periods on
or after 1st January 2023.
· Amendments to IFRS 17 - Initial Application of IFRS 17 & IFRS 9 -
Comparative Information - Helps entities to avoid temporary accounting
mismatches by allowing an option relating to comparative information about
financial assets presented on initial application of IFRS 17 - effective
accounting period beginning on or after 1st January 2023.
· Amendments to IAS 1 - Classification of Liabilities as Current or
Non-current - Clarifies that the classification of liabilities as current or
non-current should be based on rights that exist at the end of the reporting
period - effective accounting periods beginning on or after 1st January 2023.
· Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of
Accounting Policies - Changes requirements from disclosing 'significant' to
'material' accounting policies and provides explanations and guidance on how
to identify material accounting policies - effective accounting period
beginning on or after 1st January 2023.
· Amendments to IAS 8 - Definition of Accounting Estimates - Clarifies
how to distinguish changes in accounting policies from changes in accounting
estimates - effective accounting periods beginning on or after 1st July 2023.
· Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities
arising from a Single Transaction - Introduces an exception to clarify that
the 'initial recognition exemption' does not apply to transactions that give
rise to equal taxable and deductible timing differences - effective accounting
periods beginning on or after 1st January 2023.
The application and interpretations surrounding the new or amended standards
is not expected to have a material impact on the Group's reported financial
performance or position. However, they may give rise to additional
disclosures being made in the financial statements.
2. Earnings per share and dividends
Both the basic and diluted earnings per share have been
calculated using the net results attributable to shareholders of Braime Group
PLC as the numerator.
The weighted average number of outstanding shares used for
basic earnings per share amounted to 1,440,000 (2021 - 1,440,000). There are
no potentially dilutive shares in issue.
6 months to
30th June
2022
£'000
Dividends paid on equity shares
Ordinary shares
Interim of 8.20p per share paid on 24th May 2022 39
'A' Ordinary shares
Interim of 8.20p per share paid on 24th May 2022 79
Total dividends paid 118
Year to
31st December
2021
£'000
Dividends paid on equity shares
Ordinary shares
Interim of 7.80p per share paid on 25th May 2021 37
Interim of 4.25p per share paid on 14th October 2021 20
57
'A' Ordinary shares
Interim of 7.80p per share paid on 25th May 2021 75
Interim of 4.25p per share paid on 14th October 2021 41
116
Total dividends paid 173
3. Cash and cash equivalents
Unaudited Unaudited Audited
6 months to 6 months to year to
30th June 30th June 31st December
2022 2021 2021
£'000 £'000 £'000
Cash at bank and in hand 1,533 1,673 1,463
Bank overdrafts (1,734) (909) (489)
(201) 764 974
4. Segmental information
Unaudited 6 months to
30th June 2022
Central Manufacturing Distribution Total
£'000 £'000 £'000 £'000
Revenue
External - 2,986 18,322 21,308
Inter company 939 2,599 3,067 6,605
Total 939 5,585 21,389 27,913
Profit
EBITDA (including exceptional item) (375) 553 2,295 2,473
Finance costs (58) (19) (50) (127)
Finance income - - - -
Depreciation (294) (18) (426) (738)
Tax expense (15) - (462) (477)
(Loss)/profit for the period (742) 516 1,357 1,131
Assets
Total assets 6,482 7,956 17,124 31,562
Additions to non-current assets 750 8 876 1,634
Liabilities
Total liabilities 2,317 3,637 8,274 14,228
Unaudited 6 months to
30th June 2021
Central Manufacturing Distribution Total
£'000 £'000 £'000 £'000
Revenue
External - 2,642 15,570 18,212
Inter company 1,006 1,933 2,615 5,554
Total 1,006 4,575 18,185 23,766
Profit
EBITDA 36 517 1,091 1,644
Finance costs (34) (17) (55) (106)
Finance income - - 2 2
Depreciation (296) (19) (340) (655)
Tax expense (16) - (204) (220)
(Loss)/profit for the period (310) 481 494 665
Assets
Total assets 5,512 5,895 15,751 27,158
Additions to non-current assets 379 11 942 1,332
Liabilities
Total liabilities 888 3,141 7,710 11,739
Audited year to
31st December 2021
Central Manufacturing Distribution Total
£'000 £'000 £'000 £'000
Revenue
External - 5,166 31,240 36,406
Inter company 2,038 4,287 6,704 13,029
Total 2,038 9,453 37,944 49,435
Profit
EBITDA (including exceptional item) (740) 807 2,539 2,606
Finance costs (69) (37) (99) (205)
Finance income - 1 2 3
Depreciation (608) (34) (692) (1,334)
Tax expense 144 30 (494) (320)
(Loss)/profit for the period (1,273) 767 1,256 750
Assets
Total assets 5,839 6,402 14,927 27,168
Additions to non-current assets 1,219 11 1,298 2,528
Liabilities
Total liabilities 2,109 2,525 6,817 11,451
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR FELFBLKLFBBERecent news on Braime
See all newsREG - Braime Group PLC - ANNUAL RESULTS YEAR ENDED 31ST DECEMBER 2023
AnnouncementREG - Braime Group PLC - Interim Results
AnnouncementREG - Braime Group PLC - Result of AGM
AnnouncementREG - Braime Group PLC - Annual Results for the Year Ended 31 December 2022
AnnouncementREG - Braime Group PLC - Directorate Changes
Announcement