Source - LSE Regulatory
RNS Number : 5210G
Titon Holdings PLC
08 May 2014
 



Titon Holdings Plc

Interim Financial Statements

for the six months ended 31 March 2014

 

 

Business Review

 

Financial performance

Group Profit before Taxation for the six-month period ended 31 March 2014 was £551,000 (2013: £79,000) on Revenues 20.4% higher at £8,840,000 (2013: £7,340,000).

 

Earnings per share for the period were 2.39p (2013: 0.57p) and the Directors have declared an unchanged interim dividend of 1.0p per share (2013: 1.0p per share).

 

Net Cash Balances at 31 March 2014 were £1,851,000 (2013: £2,118,000).

 

Trading commentary

I am pleased to report that we have made significant progress in the six months ended 31st March 2014 as Group Profit before tax has risen to £551,000 versus £79,000 last year. As noted in our First Quarter 'Interim Management Statement' we have benefited from some good trading results from our partnership in Korea, which has continued in the Second Quarter.

 

Our overall revenues have grown when compared to last year by 20.4% which is pleasing. The main reason for the increase is the higher level of sales outside of the UK, which have risen by 62.4% over the comparative period. In the UK business has continued to be difficult although we have seen an improvement in sales from our Ventilation Systems division as the period progressed. At our UK Window and Door Hardware division sales are up marginally over last year. We have devoted significant time and resources in the last two years to widening the scope and scale of our window and door products but this has not yet resulted in the increase in sales that we expect. We will continue to work hard to achieve this in the second half year. In our Ventilation Systems division, as I noted last year, the social housing market has started to grow again after two difficult years and our range of Mechanical Ventilation with Heat Recovery ("MVHR") units is popular with our customers. We have introduced a number of new products and refinements to our MVHR range in the last few months. I would like to thank all of our talented staff for their hard work and their commitment in both Hardware and Ventilation Systems divisions.

 

In Korea our partnership has, again, shown improvement over last year with sales growing by 89.2% as we have expanded our penetration into both the private and government housing markets. David Ruffell and I visited Korea again at the end of February this year and were greatly impressed with the progress being made there and by the dedication and hard work shown by our Korean colleagues. We thank them sincerely for all of their efforts.

 

Export Sales from our UK factory were up by 12% over the comparative period due largely to some long awaited growth from our USA subsidiary following the protracted slowdown in construction activity there.

 

We were very pleased to see the introduction of our new online purchasing website, TitonDirect.co.uk , during the period. This website promotes some of our most popular window handles, trickle vents and whole house ventilation systems, as well as spare parts such as MVHR filters and window handle keys. Every business is looking to offer products online and we are no different and now that the website has been up and running for a few weeks we will start to develop it further.

 

 

Page 1

 

 

 

Prospects

We anticipate that conditions in our main UK markets will remain muted during the next six months. We have seen some improvement within the Hardware division but we are not expecting that it will grow significantly in the second half year. There have been signs of progress in the Ventilation Systems division in the period, which we do expect to continue in the second half, along with a wider range of products, which should lead to increased sales.

 

We are optimistic that our partnership in Korea will continue to grow during 2014 and we will continue to support them, particularly on the design side, wherever possible.

 

Our balance sheet remains strong and we have significant cash balances, which will allow us to continue to invest in new products and markets in 2014. 

 

 

Principal risk and uncertainties

The key financial and non-financial risks faced by the Group are disclosed in the Group's Annual Report and Accounts for the year ended 30 September 2013 within the Strategic Report (page 7) available at www.titonholdings.com. The Board considers that these remain a current reflection of the risks and uncertainties facing the business. 

 

 

Responsibility Statement

The Directors confirm that, to the best of their knowledge, this condensed set of financial statements has been prepared in accordance with IAS 34 as adopted by the European Union and that this Interim Report includes a fair review of the information required by DTR 4.2.7R and DTR 4.2.8R. 

 

The Directors of Titon Holdings Plc are listed on page 14 of this document. A list of current directors is maintained on the Group's website: www.titonholdings.com.

 

On behalf of the Board

 

 

KA Ritchie                                       DA Ruffell                                  

Chairman                                         Chief Executive                        

7 May 2014

 

 

 

                                                                                                Page 2  

 


Titon Holdings Plc

Consolidated Interim Income Statement

for the six months ended 31 March 2014



6 months

6 months


Year to




to 31.3.14

to 31.3.13

restated *

(see Note 1)

 

       

30.9.13

restated *

(see Note 1)




unaudited

unaudited


audited



Note

£'000

£'000


£'000


Revenue

2

8,840

7,340


15,740


Cost of sales


(6,471)

(5,763)


(12,059)


Gross profit


2,369

1,577


3,681


Distribution costs


(317)

 (269)

*

(554)

*

Administrative expenses


(1,627)

(1,550)

*

(3,134)

*

Other income


12

225


237


Operating profit / (loss)


437

(17)


230


Finance income


1

6


13


Share of profit from associates


113

90


262


Profit before income tax


                551

                79


505


Income tax expense

3

(94)

(19)


(29)


Profit after income tax


457

60


476


Attributable to:







Equity holders of the parent


252

7


303


Non-controlling interest


205

53


173


Profit for the period


457

60


476









Earnings per share - basic

5

2.39p

0.57p


2.87p


                               - diluted

5

2.36p

0.57p


2.87p


Consolidated Interim Statement of Comprehensive Income

for the six months ended 31 March 2014


6 months

6 months


Year to


to 31.3.14

to 31.3.13


30.9.13


unaudited

unaudited


audited


£'000

£'000


£'000

Profit for the period

457

60


476

Exchange difference on re-translation of

overseas operations

 

(27)

 

58


 

(39)

Total comprehensive income for the period

430

118


437

Attributable to:





Equity holders of the parent

225

65


264

Non-controlling interest

205

53


173


430

118


437

 

 The notes on pages 7 to 13 form an integral part of this condensed interim information.

 

                                                                                                Page 3


Titon Holdings Plc

Consolidated Statement of Financial Position

at 31 March 2014

               


31.3.14

31.3.13

30.9.13



unaudited

unaudited

audited


          Note

£'000

£'000

£'000

Assets





Property, plant and equipment

6

3,208

3,307

3,298

Intangible assets


658

695

710

Investments in associates


423

138

310

Total non-current assets


4,289

4,140

4,318






Inventories


3,061

2,996

2,855

Trade and other receivables


3,895

3,226

3,309

Corporation tax


-

75

-

Cash and cash equivalents


1,851

2,118

2,151

Total current assets


8,807

8,415

8,315






Total Assets


13,096

12,555

12,633






Liabilities





Deferred tax


50

230

105

Total non-current liabilities


50

230

105






Trade and other payables


3,011

3,045

2,934

Bank overdraft


-

-

35

Corporation tax


173

16

42

Total current liabilities


3,184

3,061

3,011






Total Liabilities


3,234

3,291

3,116

Equity





Share capital


1,056

1,056

1,056

Share premium reserve


865

865

865

Capital redemption reserve


56

56

Translation reserve


(73)

51

                (46)

Retained earnings


7,449

 

7,052

7,282

Total Equity attributable to the equity holders of the parent


9,353

9,080

9,213

Non-controlling Interest


509

184

304

Total Equity


9,862

9,264

9,517

Total Liabilities and Equity


13,096

12,555

12,633

 

 

The notes on pages 7 to 13 form an integral part of this condensed interim information.

            

 

                                                                                                Page 4


Titon Holdings Plc

Consolidated Interim Statement of Changes in Equity

 

 

 


Share

capital

Share

premium

 reserve

Capital

 redemption reserve

Translation reserve

Retained

 earnings

Total

Non-

controlling

 interest

Total

Equity


£'000

£'000

£'000

£'000

£'000

£'000

£'000

£'000










At 1 October 2012

1,056

865

56

(7)

7,096

9,066

131

9,197

Translation differences on overseas operations

-

-

-

58

-

58

-

58

Profit for the period

-

-

-

-

7

7

53

60

Total comprehensive profit for the period

-

-

-

58

7

65

53

118

Dividends paid

-

-

-

-

(53)

(53)

-

(53)

Share-based payment expense

-

-

-

-

2

2

-

2

At 31 March 2013

1,056

865

56

51

7,052

9,080

184

9,264

Translation differences on overseas operations

-

-

-

(97)

-

(97)

-

(97)

Profit for the period

-

-

-

-

296

296

120

416

Total comprehensive profit for the period

-

-

-

(97)

296

199

120

319

Dividends paid

-

-

-

-

(105)

(105)

-

(105)

Share-based payment expense

-

-

-

-

39

39

-

39

At 30 September 2013

1,056

865

56

(46)

7,282

9,213

304

9,517

Translation differences on overseas operations

-

-

-

(27)

-

(27)

-

(27)

Profit for the period

-

-

-

-

252

252

205

457

Total comprehensive profit for the period

-

-

-

(27)

252

225

205

430

Dividends paid

-

-

-

-

(105)

(105)

-

(105)

Share-based payment expense

-

-

-

-

20

20

-

20

At 31 March 2014

1,056

865

56

(73)

7,449

9,353

509

9,862

 

 

The notes on pages 7 to 13 form an integral part of this condensed interim information.

 

 

                                                                                                Page 5


Titon Holdings Plc

Consolidated Interim Statement of Cash Flows

for the six months ended 31 March 2014

 



6 months

6 months

Year to



to 31.3.14

to 31.3.13

30.9.13



unaudited

unaudited

audited


Note 

£'000

£'000

£'000

Cash generated from operating activities





Profit before tax


551

79

505

Depreciation of property, plant & equipment


217

232

462

Amortisation on intangible assets


70

93

192

Increase in inventories


(240)

(357)

(323)

Increase in receivables


(609)

(54)

(209)

Increase in payables and other current liabilities


107

525

496

Profit on sale of plant & equipment


(5)

(6)

(19)

Share based payment - equity settled


20

2

41

Interest received


(1)

(6)

(13)

Share of associate's profit


(113)

(90)

(262)

Cash (used in) / generated from operations


(3)

418

870

Income taxes paid


(18)

(3)

(37)

Net cash  (used in) / generated from operating activities


(21)

415

833

Cash flows from investing activities





Purchase of plant & equipment

  6

(127)

(55)

(280)

Purchase of intangible assets


(18)

(14)

(128)

Proceeds from sale of plant & equipment


5

6

23

Interest received


1

6

13

Net cash used in investing activities


(139)

(57)

(372)

Cash flows from financing activities





Dividends paid to equity shareholders

4

(105)

(53)

(158)

Net cash used in financing activities


    (105)

     (53)

(158)

Net (decrease) / increase in cash & cash equivalents


(265)

305

303

Cash  & cash equivalents at beginning of the period


2,116

1,813

1,813

Cash & cash equivalents at end of the period


1,851

2,118

2,116

Cash & cash equivalents comprise:





Cash at bank


1,851

2,118

2,151

Overdraft


-

-

(35)

Cash & cash equivalents at end of the period


1,851

2,118

2,116

 

The notes on pages 7 to 13 form an integral part of this condensed interim information.

 

 

                                                                                                Page 6                                  


Titon Holdings Plc

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

 

Basis of preparation

Titon Holdings Plc (the 'Company') is a company domiciled in England. The condensed consolidated interim financial statements of the Group for the six months ended 31 March 2014 comprise the Company and its subsidiaries (together referred to as the 'Group').

 

Prior period figures for Distribution Costs and Administration Expenses shown in the Consolidated Interim Income Statement on page 2 have been restated to provide a comparable cost basis with the costs and expenses reported in the six month period to 31 March 2014. Distribution costs for the six month period to 31 March 2013 have been restated at £269,000 (previously reported as £380,000) and Administration Expenses have been restated at £1,550,000 (previously reported as £1,439,000). Distribution costs for the year to 30 September 2013 have been restated at £554,000 (previously reported as £793,000) and Administration Expenses have been restated at £3,134,000 (previously reported as £2,895,000).

This restatement has had no effect on the profits recorded for the 6 month period to 31 March 2013 or the year to 30 September 2013.

The IASB has issued the following revised and updated IFRIC amendments which have been adopted, although they have no impact on the Group's reporting; amendments to:

·  IFRS 10 Consolidated Financial Statements - establishes principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities. 

·  IFRS 11 Joint Arrangements - the principle in IFRS 11 is that a party to a joint arrangement recognises its rights and obligations arising from the arrangement rather than focusing on the legal form.

·  IFRS 12 Disclosure of Interests in Other Entities - includes the disclosure requirements for all forms of interests in other entities, including subsidiaries, joint arrangements, associates and unconsolidated structured entities.

·  IFRS 13 Fair Value Measurement - defines fair value, sets out in a single IFRS a framework for measuring fair value and requires disclosures about fair value measurements. 

·  IAS 27 Separate Financial Statements - contains accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates when an entity prepares separate financial statements. The Standard requires an entity preparing separate financial statements to account for those investments at cost or in accordance with the applicable financial instruments standard (i.e. IAS 39 or IFRS 9).

·  IAS 28 Investments in Associates and Joint Ventures - the standard now includes the required accounting for joint ventures as well as the definition and required accounting for associates.

·  IAS 19 Employee Benefits - the main changes introduced by the amendment revolve around the accounting for defined benefit pension schemes.

Otherwise, the condensed interim financial statements have been prepared using accounting policies set out in the Report and Accounts 2013 and have been applied consistently to all periods presented in these financial statements. They are in accordance with IAS 34. The six months results for both 31 March 2013 and 2014 have neither been audited nor reviewed pursuant to guidance issued by the Auditing Practices Board. The financial information for the year end 30 September 2013 does not constitute the full statutory accounts for that period. The Company's Report and Accounts 2013 have been delivered to the Registrar of Companies. The independent auditors' report on those accounts was unqualified, did not draw attention to any matters by way of emphasis and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006.

The condensed interim financial statements do not constitute full accounts within the meaning of Section 434 of the Companies Act 2006.

The interim report was approved by the Board and authorised for issue on 7 May 2014.  Copies of the interim report will be sent to shareholders in the next few weeks.

This statement is being sent to shareholders, will be available on the Group's website at www.titonholdings.com and from the Company's registered office at International House, Peartree Road, Stanway, Colchester, Essex CO3 0JL.

 

2   Segment reporting

In identifying its operating segments, management generally follows the Group's reporting lines, which represent the main geographic markets in which the Group operates. The segment reporting below is shown in a manner consistent with the internal reporting provided to the Board, which is the Chief Operating Decision Maker (CODM). These operating segments are monitored and strategic decisions are made on the basis of segment operating results. 

                                                                                               

                                                                                          Page 7

 

 

 

 

 

 

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

 

2   Segment reporting (continued)

The Group operates three main business segments which are :

Segment

Activities undertaken include:

United Kingdom

Sales of passive and powered ventilation products to house builders, electrical contractors and window and door manufacturers. In addition to this, it is a leading supplier of window and door hardware.

South Korea

Sales of passive ventilation products to construction companies.

All other countries

Sales of passive and powered ventilation products to distributors, window manufacturers and construction companies

 

Inter-segment revenue is transacted on an arm's length basis and charged at prevailing market prices for a specific product and market or cost plus where no direct comparative market price is available.  Segment results include items directly attributable to a segment as well as those that can be allocated on a reasonable basis.  Research and development entity-wide financial expenses are not allocated to the business activities for which R&D is specifically performed and it is not therefore reported as a separate operating segment. Sales Administration and Other Expenses are not currently allocated to operating segments in the Group's reporting to the CODM, and Other Expenses include mainly central and parent company overheads relating to group management, the finance function and regulatory requirements. 

The measurement policies the Group uses for segment reporting under IFRS 8 are the same as those used in its financial statements.

The total assets for the segments represent the consolidated total assets attributable to these reporting segments. Parent company results and consolidation adjustments reconciling the segmental results and total assets to the consolidated financial statements, are included within the United Kingdom segment figures stated below.

 

 

Business segment

United

Kingdom

South

Korea

All other countries

Total


£'000

£'000

£'000

£'000

6 months ended  31 March 2014





Segment revenue

5,319

 

2,674

847

8,840

Inter-segment revenue

-

-

172

172

Total Revenue

5,319

2,674

1,019

9,012

Segment profit

892

627

60

1,579

Unallocated expenses





Research and Development expenses




(211)

Sales Administration expenses




(287)

Other Expenses




(531)

Finance income




1

Profit before tax




551

Tax expense




(94)

Profit for the period




457

Depreciation and amortisation

271

16

-

287

Total assets

9,927

3,007

162

13,096

Total assets includes:





Investments in associates

423

-

-

423

Additions to non-current assets (other than financial instruments and deferred tax assets)

104

40

-

144

                                                                                               

                                                                                          Page 8        

 

 

 

           

 Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

2   Segment reporting (continued)

 

Business segment

United

Kingdom

South

Korea

All other countries

Total


£'000

£'000

£'000

£'000

6 months ended  31 March 2013





Segment revenue

5,172

 

1,413

755

7,340

Inter-segment revenue

-

-

141

141

Total Revenue

5,172

1,413

896

7,481

Segment profit

647

205

9

861

Unallocated expenses





Research and Development expenses




(200)

Sales Administration expenses




(273)

Other Expenses




(315)

Finance income




6

Profit before tax




79

Tax expense




(19)

Profit for the period




60

Depreciation and amortisation

278

46

1

325

Total assets

10,443

1,946

166

12,555

Total assets includes:





Investments in associates

138

-

-

138

Additions to non-current assets (other than financial instruments and deferred tax assets)

58

11

-

69

 

 

 

Page 9                                                                                   

 

 

 

 

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

2  Segment reporting (continued)

 

 

Business segment

United Kingdom

South

Korea

 

All other countries

Total


£'000

£'000

£'000

£'000

12 months ended  30 September 2013





Segment revenue

10,548

3,680

1,512

15,740

Inter-segment revenue

-

-

300

300

Total Revenue

10,548

3,680

1,812

16,040

Segment profit / (loss)

1,806

649

(12)

2,443

Unallocated expenses





Research and Development expenses




(383)

Sales Administration expenses




(554)

Other Expenses




(1014)

Finance income




13

Profit before tax




505

Tax expense 




(29)

Profit for the period




476

Depreciation and amortisation

569

84

1

654

Total assets

10,130

2,356

147

12,633

Total assets includes:





Investments in associates

310

-

-

310

Additions to non-current assets (other than financial instruments and deferred tax assets)

376

32

-

408

 

 

 

Page 10

 

 

 

 

 

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

2  Segment reporting (continued)

 

IFRS 8 requires entity-wide disclosures to be made about the regions in which it earns its revenues and holds its non-current assets which are shown below.

 

6 months ended

31 March 2014

United Kingdom

Europe

USA

 

South East Asia

 

All other regions

 

Total

Revenues

£'000

£'000

£'000

£'000

£'000

£'000

by entities' country of domicile

5,821

-

345

2,674

-

8,840

by country from which derived

5,495

313

345

2,675

12

8,840

Non-current assets







By entities' country of domicile

4,080

-

-

209

-

4,289

 

One customer accounted for more than 10% of Group revenue and sales to this customer totaled £2,631,000 (included within South East Asia)

.

6 months ended

31 March 2013

United Kingdom

Europe

USA

 

South East Asia

 

All other regions

 

Total

Revenues

£'000

£'000

£'000

£'000

£'000

£'000

by entities' country of domicile

5,633

-

294

1,413

-

7,340

by country from which derived

5,172

405

294

1,459

10

7,340

Non-current assets







By entities' country of domicile

3,907

-

-

233

-

4,140

 

One customer accounted for more than 10% of Group revenue and sales to this customer totaled £1,413,000 (included within South East Asia)

 

 

12 months ended

30 September 2013

United Kingdom

Europe

USA

 

South East Asia

 

All other regions

Total

Revenues

£'000

£'000

£'000

£'000

£'000

£'000

by entities' country of domicile

11,400

-

660

3,680

-

15,740

by country from which derived

10,548

737

660

3,762

33

15,740

Non-current assets







By entities' country of domicile

3,987

-

-

331

-

4,318

 

One customer accounted for more than 10% of Group revenue and sales to this customer totaled £3,680,000 (included within South East Asia)

 

                                                                             Page 11

 

 

 

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

3   Tax


6 months

6 months

Year to


to 31.3.14

to 31.3.13

30.9.13


£'000

£'000

£'000

Current income tax:




Corporation tax expense

(149)

-

(59)

Adjustment in respect prior years

-

1

(75)


(149)

1

(134)

Deferred tax:




Origination and reversal of temporary differences

55

(20)

30

Adjustment in respect prior years

-

-

75


55

(20)

105

Total tax expense

(94)

(19)

(29)

 

Tax for the interim period is charged at 22.0% (six months to 31 March 2013: 20.0%) representing the best estimate of the average annual effective income tax rate for the full financial year.

 

 

4   Dividends

An interim dividend in respect of the six months ended 31 March 2014 of 1.0p per share, amounting to a total dividend of £106,000 was approved by the Directors of Titon Holdings Plc on 7 May 2014. These consolidated interim statements do not reflect the dividend payable.

 

The interim dividend will be payable on 24 June 2014 to the shareholders on the register on 30 May 2014.  The ex dividend date is 28 May 2014.

 

The following dividends have been recognised and paid by the Company:

 




6 months

6 months

Year to




to 31.3.14

to 31.3.13

30.9.13


Date

paid

Pence

per share

 

£'000

 

£'000

 

£'000

Final in respect of the year end 30.09.12

22.02.13

0.5

-

53

53

Interim in respect of the year end 30.09.13

24.06.13

1.0

-

-

106

Final in respect of the year end 30.09.13

21.02.14

1.0

105

-

-




105

53

159

 

 

                                                                        Page 12

 

 

 

 

 

Notes to the Condensed Consolidated Interim Statements

at 31 March 2014

 

5   Earnings per ordinary share

Basic earnings per share has been calculated by dividing the profits attributable to shareholders by the weighted average number of ordinary shares in issue during the period, being 10,555,650 (six months ended 31 March 2013: 10,555,650; year ended 30 September 2013: 10,555,650).

 

Diluted earnings per share has been calculated by dividing the profits attributable to shareholders by the weighted average number of ordinary shares and potential dilutive ordinary shares during the period, being 10,670,161 (six months ended 31 March 2013: 10,555,650; year ended 30 September 2013: 10,555,650).

 

6   Property, plant and equipment

Additions and disposals

During the six months ended 31 March 2014, the Group acquired assets with a cost of £127,000 (six months to 31 March 2013: £55,000; year ended 30 September 2013: £280,000).

 

7   Related party transactions

Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.

 

Transactions between subsidiary companies and the associate company, which is a related party, were as follows:

 

 


Sale of goods

 

Amount owed by related party


6 months

to 31.3.14

6 months

to 31.3.13

Year to

to 30.9.13

6 months

to 31.3.14

6 months

 to 31.3.13

Year to

to 30.9.13


£'000

£'000

£'000

£'000

£'000

£'000

Browntech Sales Co. Ltd

2,631

1,413

3,680

1,482

539

995

 

 

There have been no additional significant or unusual related party transactions to those disclosed in the Group's Annual Report for 30 September 2013.

 

 

8   Liability statement

Neither the Group nor the Directors accept any liability to any person in relation to the Interim Statement except to the extent that such liability could arise under English Law. Accordingly, any liability to a person who has demonstrated reliance on any untrue or misleading statement or omission shall be determined in accordance with section 90A of the Financial Services and Markets Act 2000.

 

                                                                                               

 

                                                                                                Page 13                

 

 

 

 

Directors and Advisors

 

Directors

 

Executive

KA Richie (Chairman)

D A Ruffell (Chief Executive)

T N Anderson

N C Howlett

C S Jarvis

Non-executive

J N Anderson (Deputy Chairman)

 

 

Secretary and registered office

D A Ruffell

International House

Peartree Road

Stanway

Colchester

Essex CO3 0JL

 

COMPANY REGISTRATION NUMBER

1604952 (Registered in England & Wales)

 

WEBSITE

www.titonholdings.com

 

 

auditors

BDO LLP

Lockton House

Clarendon Road

Cambridge

CB2 8FH

REGISTRARS AND TRANSFER OFFICE

Capita Registrars Ltd

Northern House

Woodsome Park

Fenay Bridge

Huddersfield

HD8 0LA

 

 

 

BANKERS

Barclays Bank Plc

Witham Business Centre

Witham, Essex

CM8 2AT

 

 

 

 

 

 

 

SOLICITORS

Boodle Hatfield LLP

89 New Bond Street

London

W1S 1DA

 


 

 

                                                          Page 14


This information is provided by RNS
The company news service from the London Stock Exchange
 
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