REG - Tristel PLC - Final Results <Origin Href="QuoteRef">TSTL.L</Origin> - Part 2

TristelAnnouncement

29/10/2014 11:18

- Part 2: For the preceding part double click  ID:nRSM0646Ua 

           13,470        8,912             738                908                    10,558      
 
 
Revenues from external customers in the Group's domicile - "United Kingdom",
as well as its other major markets, "Rest of the World" - have been identified
on the basis of internal management reporting systems, which are also used for
VAT purposes. 
 
Human healthcare revenues were derived from a large number of customers,
including £3,499m from a single customer which makes up 30% of this segment's
revenue (2013:  £2.050m being 23%).  Animal healthcare revenues were derived
from a number of customers, with the largest customer accountable for £0.209m,
which represents 27% of revenue (2013: 6.6% from a single customer). 
 
During the year 26% of the Group's revenues were earned from a single customer
(2013: 19.4%). 
 
The Group's non-current assets are divided into the following geographical
areas:- 
 
                       2014     2013   
                       £'000    £'000  
                                       
 United Kingdom        7,455    7,567  
 Rest of the World     126      132    
 Non-current assets    7,581    7,699  
 
 
4.         TAXATION 
 
The taxation charge represents: 
 
                                                      2014     2013   
                                                      £'000    £'000  
 Current taxation:-                                                   
 Corporation tax                                      248      79     
 Adjustment in respect of earlier years               (125)    7      
 Total current tax                                    123      86     
 Deferred tax:-                                                       
 Origination and reversal of temporary differences    428      (524)  
 Total deferred tax                                   428      (524)  
 Total tax charge/(credit) in Income Statement        551      (438)  
                                                                      
 
 
Factors affecting the tax charge/(credit): 
 
The tax assessed for the year differs from the standard rate of corporation
tax in the UK. The difference is explained below: 
 
                                                                  2014     2013     
                                                                  £'000    £'000    
                                                                                    
 Profit/(loss) on ordinary activities before tax                  1,823    (1,750)  
                                                                                    
 Profit/(loss) on ordinary activities                                               
 multiplied by the standard rate of corporation tax                                 
 in the UK of 22.50% (2013: 23.75%)                               410      (416)    
                                                                                    
 Effects of:                                                                        
 Expenses not deductible for tax purposes                         139      116      
 Different rate tax bands and change in tax rates                 1        18       
 Enhanced relief on qualifying scientific research expenditure    (93)     (135)    
 Adjustment in respect of prior years                             (125)    7        
 Income not taxable                                               (11)     -        
 Tax losses not utilised and other timing differences             230      (28)     
 Total tax charge/(credit) for year                               551      (438)    
                                                                                    
 
 
5.         DIVIDENDS 
 
                                                                                            2014     2013   
 Amounts recognised as distributions to equity holders in the year:                         £'000    £'000  
 Ordinary shares of 1p each                                                                                 
 Final dividend for the year ended 30 June 2013 of 0.32p                                                    
 (2012:  0.35p) per share                                                                   128      140    
 Interim dividend for the year ended 30 June 2014 of 0.36p                                                  
 (2013:  0.08p) per share                                                                   144      32     
                                                                                            272      172    
                                                                                                            
 Proposed final dividend for the year ended 30 June 2014of 1.26p (2013: 0.32p) per share    507      128    
 
 
The proposed final dividend is subject to approval by shareholders at the
forthcoming Annual General Meeting and has not been included as a liability in
the financial statements. 
 
6.         EARNINGS PER SHARE 
 
The calculations of earnings per share are based on the following profits and
numbers of shares: 
 
                                                                                               2014                 2013               
                                                                                               £'000                £'000              
 Retained profit/(loss) for the financial year attributable to equity holders of the parent    1,298                (1,264)            
                                                                                                                                       
                                                                                               Shares '000Number    Shares '000Number  
 Weighted average number of ordinary shares for the purpose of basic earnings per share        39,989               39,985             
 Effect of dilutive potential ordinary shares                                                                                          
 Share options                                                                                                      -                  
                                                                                               39,989               39,985             
                                                                                                                                       
 Earnings/(loss) per ordinary share                                                                                                    
 Basic                                                                                         3.25p                (3.16p)            
 Diluted                                                                                       3.25p                (3.16p)            
 
 
7.            NON RECURRING ITEMS 
 
There were no non-recurring items in the year.  In the prior year a review and
restructure of the business took place and as a result headcount fell by 15%;
the operation in China was restructured to cease the drain on cash; and the IP
portfolio in the Balance Sheet was reviewed with the result that certain
assets relating to legacy products were impaired. These 'root and branch
review' activities culminated in a non-cash exceptional charge of £2.2 million
for the year ended 30 June 2013. 
 
8.            CALLED UP SHARE CAPITAL 
 
 Allotted, issued and fully paid  Number:         £        
 30 June 2013                     39,984,701      400,000  
 Issued during the year           250,000         2,000    
 30 June 2014                     40,234,701      402,000  
 
 
250,000 ordinary shares of 1 pence each, related to the exercise of 250,000
share options were issued during the year (2013:nil), for a total
consideration of £135,000, being £2,000 equity and £133,000 share premium. The
weighted average exercise price was 53.86 pence. 
 
9.           ANNUAL REPORT 
 
The annual report and financial statements will be available on the company's
website www.tristel.com from 13 October 2014.  Printed copies will be posted
to shareholders prior to the Company's Annual General Meeting taking place on
16 December 2014 in Snailwell, Newmarket. 
 
This information is provided by RNS
The company news service from the London Stock Exchange