REG-Dialight PLC Preliminary Results and Board – Part 2
Date/Range: 2-MAR-2009
Short Abstract: REG-Dialight PLC Preliminary Results and Board – Part 2
Part 2 :
Electro magnetic components LED
Indication business Total Components Signals/ Illumination
Total
£’000 £’000 £’000 £’000 £’000
Segment assets 6,320 7,999 14,319 24,495 38,814
Unallocated assets 8,416
Consolidated total assets 47,230
Balance Sheet – Liabilities 2007
Electro magnetic components LED
Indication business Total Signals/ Illumination
Components Total
£’000 £’000 £’000 £’000 £’000
Segment liabilities (1,267) (2,705) (3,972) (5,757) (9,729)
Unallocated liabilities (6,652)
Consolidated total liabilities (16,381)
Geographical segments
The Components and Signals/Illumination segments are managed on a worldwide
basis, but operate in three principal geographic areas, UK, Europe and North
America. The following table provides an analysis of the Group’s sales by
geographical market, irrespective of the origin of the goods. All revenue
relates to the sale of goods.
Sales revenue by geographical market
2008 2007
£’000 £’000
North America 50,848 37,116
UK 9,740 11,401
Rest of Europe 8,823 7,300
Rest of world 8,444 7,591
77,855 63,408
Continuing operations Segmental assets Capital expenditure
2008 2007 2008 2007
£’000 £’000 £’000 £’000
North America 34,631 26,059 1,246 1,125
UK 13,746 14,487 521 460
Rest of Europe 8,895 6,684 29 41
57,272 47,230 1,796 1,626
2. Income tax expense
Recognised in the income statement
2008 2007
£’000 £’000
Current tax expense
Current year 2,402 1,825
Adjustment for prior years (27) (110)
2,375 1,715
Deferred tax expense
Origination and reversal of temporary differences (211) 58
Adjustment for prior years 4 (22)
Total income tax expense 2,168 1,751
Reconciliation of effective tax rate
2008 2008 2007 2007
% £’000 % £’000
Profit for the period 3,469 2,729
Total income tax expense 2,168 1,751
Profit excluding income tax 5,637 4,480
Income tax using the UK corporation tax rate of 28% 28.0 1,578 30.0 1,344
(2007:30%)
Effect of tax rates in foreign jurisdictions 8.1 456 6.7 302
Non-deductible expenses 1.3 74 1.2 54
Unrecognised losses 2.7 152 4.3 194
Non taxable income (2.4) (139) – –
Share plan charge for lapsed awards 1.2 70 – –
Change in UK tax rate – – (0.2) (11)
Over provision in prior years (0.4) (23) (2.9) (132)
38.5 2,168 39.1 1,751
Deferred tax recognised directly in equity 2008 2007
£’000 £’000
Relating to pension accounting 1,289 67
3. Earnings per share
Basic earnings per share
The calculation of basic earnings per share at 31 December 2008 was based on the
profit for the year of £3,469,000 (2007:£2,729,000) and a weighted average
number of ordinary shares outstanding during the year ended 31 December 2008 of
31,017,000 (2007:31,084,000).
Diluted earnings per share
The calculation of diluted earnings per share at 31 December 2008 was based on
profit for the year of £3,469,000 (2007:£2,729,000) and a weighted average
number of ordinary shares outstanding during the year ended 31 December 2008 of
31,769,000 (2007:31,619,000) calculated as follows: –
Weighted average number of ordinary shares (diluted)
2008 2007
‘000 ‘000
Weighted average number of ordinary shares 31,017 31,084
Effect of share options on issue 752 535
Weighted average number of ordinary shares (diluted) 31,769 31,619
4. Dividends
The following dividends were paid in the year:
2008 2007
£’000 £’000
Interim-2.1p per ordinary share (2007:1.9p) 656 594
2007 Final-3.8p per ordinary share (2006:3.5p) 1,187 1,093
1,843 1,687
After the balance sheet date the following dividends were recommended by the
Directors. The dividends have not been provided for and there are no corporation
tax consequences.
2008 2007
£’000 £’000
Final recommended dividend
3.9p per ordinary share (2007:3.8p) 1,218 1,187
– ENDS –
This information is provided by RNS
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