REG - Games Workshop Group - Half Yearly Report <Origin Href="QuoteRef">GAW.L</Origin> - Part 2
28/01/2015 24:46
- Part 2: For the preceding part double click ID:nRSN0913Ca
rates offset by the UK tax rate reducing to 21% and 20% from 1 April 2014
and 2015 respectively. (2013: 27.5%, reflecting higher overseas tax rates
offset by UK tax rate reductions).
6. Earnings per share
Basic earnings per share
Basic earnings per share is calculated by dividing the profit attributable to
owners of the parent by the weighted average number of ordinary shares in
issue throughout the relevant period.
Six months to Six months to Year to
30 November 1 December 1 June
2014 2013 2014
Profit attributable to owners of the parent (£000) 4,642 5,601 8,007
------------- ------------- -------------
Weighted average number of ordinary shares in issue (thousands) 31,971 31,671 31,805
------------- ------------- -------------
Basic earnings per share (pence per share) 14.5 17.7 25.2
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Basic earnings per share - pre-exceptional items
Basic earnings per share - pre-exceptional items is calculated by dividing the
profit attributable to owners of the parent, before exceptional items, by the
weighted average number of ordinary shares in issue throughout the relevant
period.
Six months to Six months to Year to
30 November 1 December 1 June
2014 2013 2014
Pre-exceptional profit attributable to owners of the parent (£000) 4,642 5,601 11,487
------------- ------------- -------------
Weighted average number of ordinary shares in issue (thousands) 31,971 31,671 31,805
------------- ------------- -------------
Basic earnings per share - pre-exceptional items (pence per share) 14.5 17.7 36.1
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Diluted earnings per share
The calculation of diluted earnings per share has been based on profit
attributable to owners of the parent and the weighted average number of shares
in issue throughout the relevant period, adjusted for the dilution effect of
share options outstanding at the period end.
Six months to Six months to Year to
30 November 1 December 1 June
2014 2013 2014
Profit attributable to owners of the parent (£000) 4,642 5,601 8,007
------------- ------------- -------------
Weighted average number of ordinary shares in issue (thousands) 31,971 31,671 31,805
Adjustment for share options (thousands) 81 184 129
------------- ------------- -------------
Weighted average number of ordinary shares for diluted earnings per share (thousands) 32,052 31,855 31,934
------------- ------------- -------------
Diluted earnings per share (pence per share) 14.5 17.6 25.1
======== ======== ========
Diluted earnings per share - pre-exceptional items
The calculation of diluted earnings per share has been based on profit
attributable to owners of the parent, before exceptional items, and the
weighted average number of shares in issue throughout the relevant period,
adjusted for the dilution effect of share options outstanding at the period
end.
Six months to Six months to Year to
30 November 1 December 1 June
2014 2013 2014
Profit attributable to owners of the parent (£000) 4,642 5,601 11,487
------------- ------------- -------------
Weighted average number of ordinary shares in issue (thousands) 31,971 31,671 31,805
Adjustment for share options (thousands) 81 184 129
------------- ------------- -------------
Weighted average number of ordinary shares for diluted earnings per share (thousands) 32,052 31,855 31,934
------------- ------------- -------------
Diluted earnings per share - pre-exceptional items (pence per share) 14.5 17.6 36.0
======== ======== ========
7. Reconciliation of profit to net cash from operating activities
Six months to Six months to Year to
30 November 1 December 1 June
2014 2013 2014
£000 £000 £000
Operating profit 6,237 7,678 12,297
Depreciation of property, plant and equipment 2,446 2,493 4,907
Net impairment/(reversal) charge on property, plant and equipment 37 (212) (204)
Loss on disposal of property, plant and equipment 124 221 370
Loss on disposal of intangible assets - - 333
Amortisation of capitalised development costs 2,335 1,675 4,121
Amortisation of other intangibles 696 477 849
Share-based payments 94 140 288
Changes in working capital:
-Increase in inventories (350) (1,250) (468)
-Decrease in trade and other receivables 88 700 1,545
-Decrease in trade and other payables (2,215) (2,970) (952)
-(Decrease)/increase in provisions (1,701) (8) 1,911
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Net cash from operating activities 7,791 8,944 24,997
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8. Other intangible assets
30 November 1 December 1 June
2014 2013 2014
£000 £000 £000
Net book value at beginning of period 8,683 8,033 8,033
Additions 2,372 2,770 5,968
Exchange differences 6 (5) (15)
Disposals - - (333)
Amortisation charge (3,031) (2,152) (4,970)
---------- ---------- ----------
Net book value at end of period 8,030 8,646 8,683
====== ====== ======
9. Property, plant and equipment
30 November 1 December 1 June
2014 2013 2014
£000 £000 £000
Net book value at beginning of period 21,027 20,604 20,604
Additions 2,914 2,949 5,739
Exchange differences 46 (156) (189)
Disposals (134) (254) (424)
Charge for the period (2,446) (2,493) (4,907)
Impairment (37) 212 204
---------- ---------- ----------
Net book value at end of period 21,370 20,862 21,027
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10. Provisions
Analysis of total provisions:
30 November 1 December 1 June
2014 2013 2014
£000 £000 £000
Current 1,279 930 3,009
Non-current 569 704 517
---------- ---------- ----------
1,848 1,634 3,526
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Exceptional Employee
Items benefits Property Total
£000 £000 £000 £000
As at 2 June 2013 - 751 953 1,704
Charged to the income statement - 40 278 318
Exchange differences - (41) (49) (90)
Decrease in provision - discount unwinding - - (2) (2)
Utilised - (73) (223) (296)
---------- ---------- ---------- ----------
As at 1 December 2013 - 677 957 1,634
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Exceptional Employee
Items benefits Property Total
£000 £000 £000 £000
As at 2 June 2013 - 751 953 1,704
Charged/(credited) to the income statement 2,470 (62) 109 2,517
Exchange differences - (46) (44) (90)
Increase in provision - discount unwinding - - 3 3
Utilised - (75) (533) (608)
---------- ---------- ---------- ----------
As at 1 June 2014 2,470 568 488 3,526
Charged to the income statement - 18 56 74
Exchange differences - (3) 14 11
Decrease in provision - discount unwinding - - (4) (4)
Utilised (1,640) (46) (73) (1,759)
---------- ---------- ---------- ----------
As at 30 November 2014 830 537 481 (1,848)
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11. Seasonality
The Group's monthly sales profile demonstrates an element of seasonality
around the Christmas period which impacts sales in the month of December.
12. Commitments
Capital expenditure contracted for at the balance sheet date but not yet
incurred is £3,302,000 (2013: £606,000). The committed spend includes the
renovation of our visitor centre in Nottingham, tooling and machinery spend
and web store improvements.
13. Related-party transactions
There were no material related-party transactions during the period.
This information is provided by RNS
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