REG - Michael Page Intl - Half Yearly Report <Origin Href="QuoteRef">MPI.L</Origin> - Part 3
29/10/2014 12:22
- Part 3: For the preceding part double click ID:nRSM9636Ob
ordinary share will be
paid on 3 October 2014 to
shareholders on the
register at the close of
business on 5 September
2014.
8. Share-based payments
In accordance with IFRS 2
"Share-based Payment", a
charge of £4.2m has been
recognised for share
options and other share
-based payment
arrangements (including
social charges) (30 June
2013: £5.0m, 31 December
2013: £8.4m).
9. Earnings per ordinary share
The calculation of the basic and diluted earnings per share is based on the following data:
Six months ended Year ended
30 June 30 June 31 December
Earnings 2014 2013 2013
Earnings for basic and diluted earnings per share (£'000) 23,472 21,454 42,604
Exceptional items (£'000) (note 4) - - 3,747
Earnings for basic and diluted earnings per share before exceptional items (£'000) 23,472 21,454 46,351
Number of shares
Weighted average number of shares used for basic earnings per share ('000) 309,595 306,210 307,858
Dilution effect of share plans ('000) 3,012 2,445 2,561
Diluted weighted average number of shares used for diluted earnings per share ('000) 312,607 308,655 310,419
Basic earnings per share (pence) 7.6 7.0 13.8
Diluted earnings per share (pence) 7.5 7.0 13.7
Basic earnings per share before exceptional items (pence) 7.6 7.0 15.1
Diluted earnings per share before exceptional items (pence) 7.5 7.0 14.9
The above results all relate to continuing operations.
10. Property, plant & equipment, computer software
Acquisitions and disposals
During the period ended 30 June 2014 the Group acquired property, plant & equipment and computer software with a cost of £6.6m (30 June 2013: £6.9m; 31 December 2013: £13.3m).
Property, plant & equipment and computer software with a carrying amount of £0.4m were disposed of during the period ended 30 June 2014 (30 June 2013: £0.4m; 31 December 2013: £0.5m), resulting in a loss on disposal of £181k (30 June 2013 loss of £46k; 31 December 2013: loss of £10k).
11. Trade and other receivables
30 June 30 June 31 December
2014 2013 2013
£'000 £'000 £'000
Current
Net trade receivables 159,708 158,052 146,681
Other receivables 7,246 6,237 4,663
Prepayments and accrued income 40,149 34,655 35,144
207,103 198,944 186,488
Non-current
Prepayments 2,364 3,827 2,865
12. Trade and other payables
30 June 30 June 31 December
2014 2013 2013
£'000 £'000 £'000
Current
Trade payables 4,333 4,868 10,709
Other tax and social security 43,262 41,318 42,098
Other payables 7,872 14,619 8,996
Accruals 73,131 65,571 70,643
Deferred income 1,163 667 1,218
129,761 127,043 133,664
Non-current
Deferred income 4,350 2,993 4,455
Other tax and social security 233 81 242
4,583 3,074 4,697
13. Cash flows from operating activities
Six months ended Year ended
30 June 30 June 31 December
2014 2013 2013
£'000 £'000 £'000
Profit before tax 35,564 32,021 64,057
Exceptional items (note 4) - - 3,027
Profit before tax and exceptional items 35,564 32,021 67,084
Depreciation and amortisation charges 9,162 8,125 17,461
Loss on sale of property, plant and equipment, and computer software 181 46 10
Share scheme charges 3,637 4,089 5,611
Net finance costs 94 99 1,668
Operating cash flow before changes in working capital and exceptional items 48,638 44,380 91,834
Increase in receivables (24,302) (12,442) (8,506)
Decrease in payables (1,644) (14,613) (1,795)
Cash generated from underlying operations 22,692 17,325 81,533
14. Cash and cash equivalents
30 June 30 June 31 December
2014 2013 2013
£'000 £'000 £'000
Cash at bank and in hand 43,718 47,769 79,777
Short-term deposits 8,977 6,212 7,293
Cash and cash equivalents 52,695 53,981 87,070
Bank overdrafts (9,771) (6,366) (1,676)
Cash and cash equivalents in the statement of cash flows 42,924 47,615 85,394
The Group operates a multi-currency notional cash pool. Currently the main Eurozone subsidiaries and the UK-based Group Treasury subsidiary participate in this cash pool, although it is the Group's intention to extend the scope of the participation to other Group companies going forward. The structure facilitates interest and balance compensation of cash and bank overdrafts.
RESPONSIBILITY STATEMENT
The Directors confirm that to the best of their knowledge:-
a) the condensed set of interim financial statements has been prepared in accordance with IAS 34 "Interim Financial Reporting"
b) the interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year); and
c) the interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties' transactions and changes therein).
On behalf of the Board
S Ingham K Stagg
Chief Executive Officer Chief Financial Officer
12 August 2014
Copies of the condensed interim financial statements are now available and can be downloaded from the Company's website
http://www.page.com/investors/reports-and-presentations/annual-and-interim-reports/2014.aspx
This information is provided by RNS
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