REG - Elektron Technology - Final Results <Origin Href="QuoteRef">EKT.L</Origin> - Part 2

CheckitAnnouncement

18/05/2017 07:06

- Part 2: For the preceding part double click  ID:nRSR4815Fa 

by:                           
 Cash and cash equivalents       2.0     
 Deferred consideration          0.4     
 Total consideration             2.4     
 
 
£0.1m of deferred consideration has been received during the year. 
 
Carnation 
 
The results of the Carnation discontinued operation, which have been included
in the consolidated statement of comprehensive income, were as follows: 
 
                                                                               2017   2016   
                                                                               £m     £m     
 Revenue                                                                       0.8    1.8    
 Expenses                                                                      (0.9)  (1.6)  
 (Loss)/profit before tax                                                      (0.1)  0.2    
 (Loss)/Gain from discontinued operations attributable to equity shareholders  (0.1)  0.2    
 
 
During the year, Carnation contributed £0.1m (2016: £0.4m) to the Group's net
operating cash flows, paid less than £0.1m (2016: less than £0.1m) in respect
of investing and paid less than £0.1m (2016: less than £0.1m) in respect of
financing activities. 
 
Expenses of discontinued operations in the year to 31 January 2017 included
£Nil classified as non-recurring or special items (2016: £Nil). 
 
Details of the disposal of Carnation are set out below: 
 
                            2017£m  
 Inventories                0.2     
 Net gain on disposal       -       
 Total consideration        0.2     
 Satisfied by:                      
 Cash and cash equivalents  0.2     
 Deferred consideration     -       
 Total consideration        0.2     
 
 
Wallace 
 
The results of the Wallace discontinued operation, which have been included in
the consolidated statement of comprehensive income, were as follows: 
 
                                                                        2017   2016   
                                                                        £m     £m     
 Revenue                                                                1.2    1.0    
 Expenses                                                               (1.1)  (1.0)  
 Profit before tax                                                      0.1    -      
 Gain from discontinued operations attributable to equity shareholders  0.1    -      
 
 
During the year, Wallace contributed £0.1m (2016: £Nil) to the Group's net
operating cash flows, paid less than £0.1m (2016: less than £0.1m) in respect
of investing and paid less than £0.1m (2016: less than £0.1m) in respect of
financing activities. 
 
Expenses of discontinued operations in the year to 31 January 2017 included
£Nil classified as non-recurring or special items (2016: £Nil). 
 
Details of the disposal of Wallace are set out below: 
 
                            2017£m  
 Inventories                0.3     
 Net gain on disposal       -       
 Total consideration        0.3     
 Satisfied by:                      
 Cash and cash equivalents  0.3     
 Total consideration        0.3     
 
 
Digitron 
 
The results of the Digitron discontinued operation, which have been included
in the consolidated statement of comprehensive income, were as follows: 
 
                                                                        2017   2016   
                                                                        £m     £m     
 Revenue                                                                1.4    1.3    
 Expenses                                                               (1.3)  (1.2)  
 Profit before tax                                                      0.1    0.1    
 Gain from discontinued operations attributable to equity shareholders  0.1    0.1    
 
 
During the year, Digitron contributed £0.1m (2016: £0.1m) to the Group's net
operating cash flows, paid less than £0.1m (2016: less than £0.1m) in respect
of investing and paid less than £0.1m (2016: less than £0.1m) in respect of
financing activities. 
 
Expenses of discontinued operations in the year to 31 January 2017 included
£Nil classified as non-recurring or special items (2016: £Nil). 
 
In March 2017, the Group completed the disposal of business and certain assets
of the Digitron brand for proceeds of £0.3m at nil profit. 
 
Cautionary Statement 
 
This announcement has been prepared for the shareholders of the Company, as a
whole and its sole purpose and use is to assist shareholders to exercise their
governance rights. The Company and its directors and employees are not
responsible for any other purpose or use or to any other person in relation to
this announcement and their responsibility to shareholders shall be limited to
that which is imposed by statute. 
 
This announcement contains indications of likely future developments and other
forward-looking statements that are subject to risk factors associated with,
among other things, the economic and business circumstances occurring from
time to time in the countries, sectors and business segments in which the
Group operates. These and other factors could adversely affect the Group's
results, strategy and prospects. Forward-looking statements involve risks,
uncertainties and assumptions. They relate to events and/or depend on
circumstances in the future which could cause actual results and outcomes to
differ from those currently expected. No obligation is assumed to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. 
 
This information is provided by RNS
The company news service from the London Stock Exchange