Financial Statements - Chemring Group PLC
Financial Statements - Chemring Group PLC Financial Statements - Chemring Group PLC
C H E M R I N GG R O U P P L CNotes to the Financial Statements- continued12. DIVIDENDSDividends on cumulative preference shares of £1 eachPaid 30 April 2003 3.50p (2002: 3.50p)Paid 31 October 2003 3.50p (2002: 3.50p)Dividends on ordinary shares of 5p eachInterim paid 26 September 2003 2.55p (2002: 2.45p)Final proposed 4.85p (2002: 4.25p)Total dividends2003£0002247001,3302,0302,0342002£0002246731,1661,8391,84313. EARNINGS PER ORDINARY SHAREThe earnings and shares used in the calculations are as follows:Earnings£000OrdinarysharesNumber000s2003EPSPence£000OrdinarysharesNumber000s2002EPSPenceBasicAdditional shares issuable otherthan at fair value in respect ofoptions outstandingDiluted8,515-8,51527,43639127,82731.04(0.44)30.603,836-3,83627,0988827,18614.16(0.05)14.11Earnings comprise profit for the financial year after deducting preference dividends of £4,000 (2002: £4,000). Ordinary sharesare calculated by reference to the average number of shares in issue in the year.Reconciliation from basic earnings per share to basic earnings per share – continuing:Earnings£000OrdinarysharesNumber000s2003EPSPenceEarnings£000OrdinarysharesNumber000s2002EPSPenceBasicProfit on ordinary activities aftertaxation – discontinued operationsBasic - continuing8,515(268)8,24727,436-27,43631.04(0.98)30.063,836(381)3,45527,098-27,09814.16(1.41)12.75P 40
2 0 0 3 F I N A N C I A L S T A T E M E N T S14. INTANGIBLE FIXED ASSETSGROUPCostAt 1 November 2002AdditionsDisposalsForeign exchange movementsAdjustment in respect of prior years (see Note 26)At 31 October 2003Developmentcosts£0005,2161,208(203)(37)-6,184Goodwill£00028,343---9928,442Total£00033,5591,208(203)(37)9934,626AmortisationAt 1 November 2002Charge for the yearDisposalsForeign exchange movementsAt 31 October 20032,2141,210(203)(33)3,188-----2,2141,210(203)(33)3,188Net book valueAt 31 October 2003At 31 October 20022,9963,00228,44228,34331,43831,345The movements to goodwill arose on the adjustment of the fair value of net assets and deferred consideration payable on prioryear acquisitions. For further details of acquisitions see Note 26.15. TANGIBLE FIXED ASSETS(A) GROUPCost or valuationAt 1 November 2002AdditionsDisposalsForeign exchange movementsAt 31 October 2003Land andbuildings£00019,781958-(495)20,244Plant andequipment£00035,5704,484(220)(1,617)38,217Total£00055,3515,442(220)(2,112)58,461DepreciationAt 1 November 2002Charge for the yearDisposalsForeign exchange movementsAt 31 October 20031,342364-(19)1,68711,2632,931(127)(172)13,89512,6053,295(127)(191)15,582Net book valueAt 31 October 2003At 31 October 200218,55718,43924,32224,30742,87942,746Included within additions for the year is own work capitalised of £nil (2002:£2,807,000) relating to the reconstruction of theproduction facility at Kilgore Flares Company LLC.P 41
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2 0 0 3 F I N A N C I A L S T A T E M E N T S14. INTANGIBLE FIXED ASSETSGROUPCostAt 1 November 2002AdditionsDisposalsForeign exchange movementsAdjustment in respect of prior years (see Note 26)At 31 October 2003Developmentcosts£0005,2161,208(203)(37)-6,184Goodwill£00028,343---9928,442Total£00033,5591,208(203)(37)9934,626AmortisationAt 1 November 2002Charge for the yearDisposalsForeign exchange movementsAt 31 October 20032,2141,210(203)(33)3,188-----2,2141,210(203)(33)3,188Net book valueAt 31 October 2003At 31 October 20022,9963,00228,44228,34331,43831,345The movements to goodwill arose on the adjustment of the fair value of net assets and deferred consideration payable on prioryear acquisitions. For further details of acquisitions see Note 26.15. TANGIBLE FIXED ASSETS(A) GROUPCost or valuationAt 1 November 2002AdditionsDisposalsForeign exchange movementsAt 31 October 2003Land andbuildings£00019,781958-(495)20,244Plant andequipment£00035,5704,484(220)(1,617)38,217Total£00055,3515,442(220)(2,112)58,461DepreciationAt 1 November 2002Charge for the yearDisposalsForeign exchange movementsAt 31 October 20031,342364-(19)1,68711,2632,931(127)(172)13,89512,6053,295(127)(191)15,582Net book valueAt 31 October 2003At 31 October 200218,55718,43924,32224,30742,87942,746Included within additions for the year is own work capitalised of £nil (2002:£2,807,000) relating to the reconstruction of theproduction facility at Kilgore Flares Company LLC.P 41
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