12 Months   1       2004 2004 2004 2004 2004 2004 2004 2004 2004 2004 2004 2004 2004 As %
to end Dec   1       Jan Feb Mar  Apr May Jun Jul Aug Sep Oct Nov Dec Year Sales
PROFIT & LOSS ACCOUNTS 1 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000  
  1    
Sales: 1    
 - Group1 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,435.0 33
 - Group2 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 1,042.2 24
 - Group3 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 513.5 12
 - Group4 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 1,330.0 31
Total sales 1 235.0 300.1 295.1 330.1 300.1 365.1 360.0 390.1 425.1 430.0 435.0 455.0 4,320.7 100
  1    
Cost of sales: 1    
 -Materials/packaging/goods 85.3 112.3 94.7 117.0 92.5 136.0 117.4 140.5 150.7 142.7 150.5 160.7 1,500.4 35
 -Direct labour 11.7 10.9 12.4 13.2 15.7 15.0 16.9 17.9 18.7 19.8 21.6 22.7 196.5 5
 -Other direct 29.3 24.7 25.9 30.1 33.0 34.1 36.0 35.9 35.4 40.3 41.7 41.8 408.2 9
Cost of sales 1 126.3 147.9 133.0 160.3 141.2 185.1 170.4 194.3 204.9 202.8 213.8 225.2 2,105.1 49
  1    
Gross margin 1 108.7 152.2 162.1 169.8 158.9 180.0 189.6 195.8 220.2 227.2 221.2 229.8 2,215.6 51
  1    
Overhead costs: 1    
 -Operational (indirect) 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 384.0 9
 -Selling & freight 35.6 37.5 37.4 38.4 37.5 39.5 39.3 40.2 41.3 41.4 41.6 42.2 471.6 11
 -Management/admin staff 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 600.0 14
 -Research & development 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 252.0 6
 -Administration 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 108.0 2
 -Establishment & general 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 174.0 4
Total overhead costs 162.1 164.0 163.9 164.9 164.0 166.0 165.8 166.7 167.8 167.9 168.1 168.7 1,989.6 46
  1    
Trading profit 1 (53.4) (11.8) (1.7) 4.9 (5.1) 14.0 23.8 29.1 52.5 59.3 53.2 61.2 226.0 5
Less: Bad debts 1.2 1.5 1.5 1.7 1.5 1.8 1.8 2.0 2.1 2.2 2.2 2.3 21.6 1
Less: Depreciation 7.1 7.1 7.1 7.1 7.7 7.7 7.7 7.7 7.7 9.0 9.0 9.0 93.8 2
Less: Operating lease & HP payments 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 66.0 2
Plus: Profit (loss) on sale of fixed assets 40.0 40.0 1
Plus: Revenue grants/subsidies    
Operating profit 1 (67.1) (25.9) (15.8) (9.4) (19.8) (1.0) 8.8 13.9 37.2 42.7 36.5 84.4 84.6 2
Less: Interest payable 6.8 7.1 7.7 8.4 8.9 12.2 11.1 8.2 9.6 11.6 13.4 12.8 117.9 3
Less: Finance lease interest 5.0 5.0 5.0 5.0 10.0 5.0 5.0 10.0 5.0 5.0 60.0 1
Less: Intangible asset writedowns 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 60.0 1
Plus: Interest receivable 0.0 0.2 0.4 0.4 1.1 1.4 1.2 4.8 0
Plus:Capital grant amortisation    
Plus: Miscellaneous income 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0 3
Net profit before tax 1 (73.8) (33.0) (23.5) (17.8) (33.7) (13.0) (1.8) 0.8 27.9 37.2 24.5 77.8 (28.5) (1)
Corporation tax    
Profit after tax 1 (73.8) (33.0) (23.5) (17.8) (33.7) (13.0) (1.8) 0.8 27.9 37.2 24.5 77.8 (28.5) (1)
Dividends declared    
Transferred to reserves   1       (73.8) (33.0) (23.5) (17.8) (33.7) (13.0) (1.8) 0.8 27.9 37.2 24.5 77.8 (28.5) (1)