|
2008
€’000
|
2007
€’000
|
%
increase
|
Group revenue
|
1,504,242
|
889,363
|
69
|
Group operating profit*
|
|
|
|
- Agri-Nutrition
|
55,012
|
27,653
|
99
|
- Food
|
15,914
|
10,474
|
52
|
Total Group operating profit*
|
70,926
|
38,127
|
86
|
Profit before financing costs*
|
73,178
|
41,801
|
75
|
Adjusted fully diluted EPS (cent)*
|
34.05
|
23.93
|
42
|
Comparable adjusted fully diluted EPS (cent)**
|
34.05
|
19.63
|
74
|
Net cashflow from operating activities
|
74,615
|
44,903
|
66
|
Group net debt
|
175,125
|
71,702
|
-
|
**Before intangible amortisation and exceptional items. The 2007 comparative has been adjusted to reflect the current capital structure of the Group.
|
2008
€’000
|
2007
€’000
|
% Change
|
Excluding Acquisitions
|
Revenue
|
1,165,262
|
647,683
|
80%
|
34%
|
|
|
|
|
|
Operating profit*
|
55,012
|
27,653
|
99%
|
55%
|
|
|
|
|
|
Operating profit %
|
4.7
|
4.3
|
-
|
-
|
|
|
|
|
|
|
2008
€’000
|
2007
€’000
|
% Change
|
Excluding Acquisitions
|
Revenue
|
338,980
|
241,680
|
40%
|
6%
|
|
|
|
|
|
Operating profit*
|
15,914
|
10,474
|
52%
|
6%
|
|
|
|
|
|
Operating profit %
|
4.7
|
4.3
|
-
|
-
|
|
|
|
|
|
Origin Enterprises plc
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
|
|
|
|
Revenue
|
1,504,242
|
|
889,363
|
Cost of sales
|
(1,335,032)
|
|
(793,046)
|
|
|
|
|
Gross Profit
|
169,210
|
|
96,317
|
Operating costs, net
|
(100,681)
|
|
(57,841)
|
|
|
|
|
Operating Profit
|
68,529
|
|
38,476
|
Share of profit of associates
|
2,252
|
|
3,674
|
|
|
|
|
Profit before financing costs
|
70,781
|
|
42,150
|
Financing income
|
5,287
|
|
2,310
|
Financing costs
|
(19,859)
|
|
(4,955)
|
|
|
|
|
Profit before tax
|
56,209
|
|
39,505
|
Income tax expense
|
(11,747)
|
|
(6,856)
|
|
|
|
|
Profit for the financial year
|
44,462
|
|
32,649
|
|
|
|
|
Attributable as follows:
|
|
|
|
Equity shareholders
|
44,701
|
|
32,686
|
Minority interest
|
(239)
|
|
(37)
|
|
|
|
|
|
44,462
|
|
32,649
|
|
|
|
|
|
|
|
|
|
2008
|
2007
|
|
|
|
Basic – adjusted
|
|
|
Excluding amortisation and exceptional items
|
35.23c
|
24.65c
|
|
|
|
Diluted – adjusted
|
|
|
Excluding amortisation and exceptional items
|
34.05c
|
23.93c
|
|
|
|
Basic
|
|
|
Including amortisation and exceptional items
|
33.61c
|
24.57c
|
|
|
|
Diluted
|
|
|
Including amortisation and exceptional items
|
32.47c
|
23.86c
|
Origin Enterprises plc
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
Items of income and expense recognised
directly in equity
|
|
|
|
Net revaluation of previously held interest in associate
|
17,960
|
|
-
|
Foreign exchange translation effects
- foreign currency net investments
- foreign currency borrowings
|
(11,193)
2,755
|
|
-
2,053
|
Actuarial (loss)/gain on Group’s defined benefit pension schemes
|
(19,591)
|
|
7,039
|
Deferred tax effect of actuarial (loss)/gain
|
2,377
|
|
(895)
|
Actuarial gain on associate’s defined benefit scheme, net of deferred tax
|
1,778
|
|
3,745
|
Gain/(loss) relating to cash flow hedges
|
553
|
|
(1,027)
|
Deferred tax effect of cash flow hedges
|
(71)
|
|
298
|
Revaluation gains on properties transferred to
investment properties
|
-
|
|
87,380
|
Deferred tax effect on gains on revaluation of properties transferred to investment properties
|
-
|
|
(15,208)
|
|
|
|
|
Net (expense)/income recognised directly in equity
|
(5,432)
|
|
83,385
|
Profit for the financial year
|
44,462
|
|
32,649
|
|
|
|
|
Total recognised income and expense for the year
|
39,030
|
|
116,034
|
|
|
|
|
Attributable as follows:
|
|
|
|
Equity shareholders
|
39,531
|
|
116,071
|
Minority interest
|
(501)
|
|
(37)
|
|
|
|
|
Total recognised income and expense for the year
|
39,030
|
|
116,034
|
|
|
|
|
Origin Enterprises plc
Group balance sheet
as at 31 July 2008
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
ASSETS
|
|
|
|
|
|
|
|
Non current assets
|
|
|
|
Property, plant and equipment
|
106,099
|
|
71,149
|
Investment properties
|
192,418
|
|
165,473
|
Goodwill and intangible assets
|
116,367
|
|
15,220
|
Investments in associates
|
32,844
|
|
26,521
|
Deferred tax assets
|
4,651
|
|
1,633
|
|
|
|
|
|
|
|
|
Total non current assets
|
452,379
|
|
279,996
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
Inventory
|
160,669
|
|
67,476
|
Trade and other receivables
|
203,156
|
|
84,993
|
Derivative financial instruments
|
1,958
|
|
-
|
Cash and cash equivalents
|
75,232
|
|
31,989
|
|
|
|
|
|
|
|
|
Total current assets
|
441,015
|
|
184,458
|
|
|
|
|
|
|
|
|
TOTAL ASSETS
|
893,394
|
|
464,454
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
EQUITY
|
|
|
|
|
|
|
|
Called up share capital
|
1,386
|
|
1,382
|
Share premium
|
265,182
|
|
265,182
|
Retained earnings and other reserves
|
(44,686)
|
|
(84,926)
|
|
|
|
|
Total equity attributable to equity shareholders of parent
|
221,882
|
|
181,638
|
|
|
|
|
Minority interest
|
1,495
|
|
1,996
|
|
|
|
|
|
|
|
|
TOTAL EQUITY
|
223,377
|
|
183,634
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Non current liabilities
|
|
|
|
Interest bearing borrowings
|
249,272
|
|
83,000
|
Employee benefits
|
23,071
|
|
1,771
|
Deferred government grants
|
2,644
|
|
2,674
|
Deferred tax liabilities
|
42,741
|
|
31,740
|
Deferred consideration on acquisition
|
12,483
|
|
-
|
|
|
|
|
|
|
|
|
Total non current liabilities
|
330,211
|
|
119,185
|
|
|
|
|
Current liabilities
|
|
|
|
Interest bearing borrowings
|
1,085
|
|
20,691
|
Trade and other payables
|
328,350
|
|
130,172
|
Corporation tax payable
|
6,751
|
|
8,556
|
Derivative financial instruments
|
3,620
|
|
2,216
|
|
|
|
|
|
|
|
|
Total current liabilities
|
339,806
|
|
161,635
|
|
|
|
|
TOTAL LIABILITIES
|
670,017
|
|
280,820
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES
|
893,394
|
|
464,454
|
|
_______
|
|
_______
|
Origin Enterprises plc
|
|
2008
|
|
2007
|
|
|
€’000
|
|
€’000
|
Cash flows from operating activities
|
|
|
|
|
Profit before tax
|
|
56,209
|
|
39,505
|
Financial income
|
|
(5,287)
|
|
(2,310)
|
Financial expense
|
|
19,859
|
|
4,955
|
Share of profit of associates
|
|
(2,252)
|
|
(3,674)
|
Depreciation of property, plant and equipment
|
|
9,060
|
|
7,527
|
Amortisation of intangible assets
|
|
2,397
|
|
797
|
Amortisation of government grants
|
|
(115)
|
|
(124)
|
Employee share-based payment charge
|
|
709
|
|
205
|
Exceptional items
|
|
-
|
|
(1,146)
|
Foreign exchange gains
|
|
-
|
|
32
|
|
|
|
|
|
Operating profit before changes in working capital
|
|
80,580
|
|
45,767
|
|
|
|
|
|
(Increase) in inventory
|
|
(72,805)
|
|
(11,736)
|
(Increase)/ Decrease in trade and other receivables
|
|
(49,820)
|
|
9,103
|
Increase in trade and other payables
|
|
139,405
|
|
3,561
|
|
|
|
|
|
|
|
|
|
|
Cash generated from operating activities
|
|
97,360
|
|
46,695
|
Interest paid
|
|
(9,662)
|
|
(1,792)
|
Income tax paid
|
|
(13,083)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Net cashflow from operating activities
|
|
74,615
|
|
44,903
|
|
|
|
|
|
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
Cash flows from investing activities
|
|
|
|
Proceeds from sale of property, plant and equipment
|
411
|
|
205
|
Purchase of property, plant and equipment
|
|
|
|
- Ongoing
|
(6,010)
|
|
(3,767)
|
- New investments
|
(2,814)
|
|
(2,336)
|
Additions to investment properties
|
(12,945)
|
|
-
|
Insurance proceeds, net
|
-
|
|
6,118
|
(Acquisition)/disposal of subsidiary undertaking,
|
|
|
|
net of cash acquired
|
(75,798)
|
|
1,045
|
Investment in associates
|
(15,632)
|
|
-
|
Dividends received
|
158
|
|
574
|
|
|
|
|
|
|
|
|
Net cash flow from investing activities
|
(112,630)
|
|
1,839
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
Proceeds from issue of share capital
|
4
|
|
104,192
|
Share issue expenses
|
-
|
|
(1,691)
|
Net cash movement in balance with IAWS
|
-
|
|
(255,545)
|
Drawdown of loan capital
|
104,195
|
|
83,000
|
Payment of finance lease obligations
|
(399)
|
|
-
|
|
|
|
|
|
|
|
|
Net cash flow from financing activities
|
103,800
|
|
(70,044)
|
|
|
|
|
|
|
|
|
Net increase/(decrease) in cash and cash equivalents
|
65,785
|
|
(23,302)
|
|
|
|
|
Translation adjustment
|
(2,076)
|
|
177
|
|
|
|
|
Cash and cash equivalents at start of year
|
11,298
|
|
34,423
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year
|
75,007
|
|
11,298
|
|
|
|
|
|
|
Food
|
|
Agri-Nutrition
|
|
Total
|
||||||
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment revenue
|
338,980
|
|
241,680
|
|
1,165,262
|
|
647,683
|
|
1,504,242
|
|
889,363
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit before exceptional items and
|
|
|
|
|
|
|
|
|
|
|
|
|
amortisation of intangible assets
|
15,914
|
|
10,474
|
|
55,012
|
|
27,653
|
|
70,926
|
|
38,127
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortisation of intangible assets
|
(1,367)
|
|
(501)
|
|
(1,030)
|
|
(296)
|
|
(2,397)
|
|
(797)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exceptional items
|
-
|
|
(1,314)
|
|
-
|
|
2,460
|
|
-
|
|
1,146
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
|
14,547
|
|
8,659
|
|
53,982
|
|
29,817
|
|
68,529
|
|
38,476
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of profit of associates
|
201
|
|
1,886
|
|
2,051
|
|
1,788
|
|
2,252
|
|
3,674
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before financing costs
|
14,748
|
|
10,545
|
|
56,033
|
|
31,605
|
|
70,781
|
|
42,150
|
|
|
|
Food
|
|
Agri-Nutrition
|
|
Total Group
|
||||||
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets excluding investment in associates and investment properties
|
142,311
|
|
69,313
|
|
443,980
|
|
169,525
|
|
586,291
|
|
238,838
|
Investment in associates
|
-
|
|
10,247
|
|
32,844
|
|
16,274
|
|
32,844
|
|
26,521
|
Investment properties
|
14,000
|
|
-
|
|
178,418
|
|
165,473
|
|
192,418
|
|
165,473
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets
|
156,311
|
|
79,560
|
|
655,242
|
|
351,272
|
|
811,553
|
|
430,832
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to total assets as reported in Group balance sheet
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
75,232
|
|
31,989
|
Derivative financial instruments
|
|
|
|
|
|
|
|
|
1,958
|
|
-
|
Deferred tax assets
|
|
|
|
|
|
|
|
|
4,651
|
|
1,633
|
Total assets as reported in Group balance sheet
|
|
|
|
|
|
|
|
|
893,394
|
|
464,454
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Food
|
|
Agri-Nutrition
|
|
Total Group
|
||||||
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
€’000
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities
|
41,538
|
|
23,896
|
|
325,010
|
|
110,721
|
|
366,548
|
|
134,617
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to total liabilities as reported in Group balance sheet
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing loans and liabilities
|
|
|
|
|
|
|
|
|
250,357
|
|
103,691
|
Derivative financial instruments
|
|
|
|
|
|
|
|
|
3,620
|
|
2,216
|
Current and deferred tax liabilities
|
|
|
|
|
|
|
|
|
49,492
|
|
40,296
|
Total liabilities as reported in Group balance sheet
|
|
|
|
|
|
|
|
|
670,017
|
|
280,820
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
|
|
|
|
Profit for financial year attributable to equity shareholders
|
44,701
|
|
32,686
|
|
|
|
|
|
|
|
|
|
‘000
|
|
’000
|
|
|
|
|
Weighted average number of ordinary shares for the year
|
133,016
|
|
133,016 *
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
33.61 cent
|
|
24.57 cent
|
|
|
|
|
|
2008
|
|
2007
|
|
€’000
|
|
€’000
|
|
|
|
|
Profit for financial year attributable to equity shareholders
|
44,701
|
|
32,686
|
|
|
|
|
|
|
|
|
|
‘000
|
|
‘000
|
Weighted average number of ordinary shares used in
|
|
|
|
basic calculation
|
133,016
|
|
133,016
|
Effect of convertible shares with a dilutive effect
|
4,636
|
|
3,968
|
|
|
|
|
Weighted average number of ordinary shares (diluted) for the year
|
137,652
|
|
136,984
|
|
|
|
|
Diluted earnings per share
|
32.47 cent
|
|
23.86 cent
|
|
|
|
Origin Enterprises plc
|
|
|
|
2008
‘000
|
|
2007
‘000
|
||
Weighted average number of ordinary shares (diluted)
|
|
133,016
|
|
133,016 *
|
||||
|
2008
€’000
|
|
2008
Per share
€ cent
|
|
2007
€’000
|
|
2007
Per share
€ cent
|
|
Adjusted
|
||||||||
Profit for the financial year
|
|
44,701
|
|
33.61
|
|
32,686
|
|
24.57
|
Adjustments:
|
||||||||
Amortisation of intangible assets
|
|
2,397
|
|
1.80
|
|
797
|
|
0.60
|
Amortisation of related deferred tax
|
|
(227)
|
|
(0.18)
|
|
-
|
|
-
|
Exceptional items, net of tax
|
|
-
|
|
-
|
|
(696)
|
|
(0.52)
|
Adjusted basic earnings per share
|
|
46,871
|
|
35.23
|
|
32,787
|
|
24.65
|
Adjusted diluted earnings per share
|
|
|
|
2008
‘000
|
|
|
|
2007
‘000
|
Weighted average number of ordinary shares (diluted)
|
|
|
|
137,652
|
|
|
|
136,984
|
|
|
|
|
|
|
|
|
|
|
|
2008
€’000
|
|
2008
Per share
€ cent
|
|
2007
€’000
|
|
2007
Per share
€ cent
|
Adjusted
|
|
|
|
|
|
|
|
|
Profit for the financial year
|
|
44,701
|
|
32.47
|
|
32,686
|
|
23.86
|
|
|
|
|
|
|
|
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
Amortisation of intangible assets
|
|
2,397
|
|
1.74
|
|
797
|
|
0.58
|
Amortisation of related deferred tax
|
|
(227)
|
|
(0.16)
|
|
-
|
|
-
|
Exceptional items, net of tax
|
|
-
|
|
-
|
|
(696)
|
|
(0.51)
|
|
|
|
|
|
|
|
|
|
Adjusted diluted earnings per share
|
|
46,871
|
|
34.05
|
|
32,787
|
|
23.93
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
|
31 July 2007
€’000
|
|
Cashflow
€’000
|
|
Arising on
acquisition
€’000
|
|
Other
non cash
movements
€’000
|
|
Translation
adjustments
€’000
|
|
31 July
2008
€’000
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
|
31,989
|
|
45,319
|
|
-
|
|
-
|
|
(2,076)
|
|
75,232
|
Overdrafts
|
(20,691)
|
|
20,466
|
|
-
|
|
-
|
|
-
|
|
(225)
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
11,298
|
|
65,785
|
|
-
|
|
-
|
|
(2,076)
|
|
75,007
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance lease obligations
|
-
|
|
399
|
|
(2,144)
|
|
(191)
|
|
105
|
|
(1,831)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
|
(83,000)
|
|
(104,195)
|
|
(63,861)
|
|
-
|
|
2,755
|
|
(248,301)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net debt
|
(71,702)
|
|
(38,011)
|
|
(66,005)
|
|
(191)
|
|
784
|
|
(175,125)
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
|
Share
capital
€’000
|
Share
Premium
€’000
|
Cashflow
Hedge
reserve
€’000
|
Revalation
reserve
€’000
|
Share based
payment
reserve
€’000
|
Reorganisation
reserve
€’000
|
Foreign currency
translation
reserve
€’000
|
Retained
earnings
€’000
|
Minority Interest
€’000
|
Total
€’000
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2007
|
1,382
|
265,182
|
(1,770)
|
72,172
|
205
|
(196,884)
|
(1,224)
|
42,575
|
1,996
|
183,634
|
Issue of shares
|
4
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
4
|
Net revaluation of previously held interest in associate
|
-
|
-
|
-
|
17,960
|
-
|
-
|
-
|
-
|
-
|
17,960
|
Share based payments
|
-
|
-
|
-
|
-
|
709
|
-
|
-
|
-
|
-
|
709
|
Foreign Exchange Translation
|
-
|
-
|
-
|
-
|
-
|
-
|
(8,176)
|
-
|
(262)
|
(8,438)
|
Group defined benefit pension schemes
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(19,591)
|
-
|
(19,591)
|
Deferred tax on group defined benefit schemes
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2,377
|
-
|
2,377
|
Net actuarial gain on associate defined benefit pension scheme
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,778
|
-
|
1,778
|
Gains related to cash flow hedges and other
|
-
|
-
|
553
|
-
|
-
|
-
|
-
|
-
|
-
|
553
|
Deferred tax relating to cash flow hedges and other
|
-
|
-
|
(71)
|
-
|
-
|
-
|
-
|
-
|
-
|
(71)
|
Profit/(loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
44,701
|
(239)
|
44,462
|
At 31 July 2008
|
1,386
|
265,182
|
(1,288)
|
90,132
|
914
|
(196,884)
|
(9,400)
|
71,840
|
1,495
|
223,377
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquiree’s carrying amount
€’000
|
Fair value adjustments
€’000
|
Fair value
€’000
|
Split of fair value
Masstock Odlums
€’000 €’000
|
|
Net assets acquired:
|
|
|
|
|
|
Property, plant and equipment
|
40,305
|
(954)
|
39,351
|
14,095
|
25,256
|
Investments properties
|
-
|
14,000
|
14,000
|
-
|
14,000
|
Intangible assets
|
5,176
|
38,442
|
43,618
|
14,718
|
28,900
|
Inventory
|
27,333
|
(500)
|
26,833
|
18,456
|
8,377
|
Trade and other receivables
|
74,102
|
(586)
|
73,516
|
52,992
|
20,524
|
Trade and other payables
|
(61,633)
|
(895)
|
(62,528)
|
(53,926)
|
(8,602)
|
Debt assumed
|
(63,861)
|
-
|
(63,861)
|
(36,776)
|
(27,085)
|
Finance leases
|
(2,144)
|
-
|
(2,144)
|
(2,144)
|
-
|
Deferred tax
|
103
|
(10,983)
|
(10,880)
|
(3,276)
|
(7,604)
|
Employee benefit liability
|
(4,218)
|
-
|
(4,218)
|
(1,794)
|
(2,424)
|
Corporation tax
|
125
|
(191)
|
(66)
|
90
|
(156)
|
Government grants
|
(248)
|
-
|
(248)
|
-
|
(248)
|
|
————
|
————
|
————
|
————
|
————
|
|
|
|
|
|
|
Net assets acquired
|
|
|
53,373
|
2,435
|
50,938
|
Goodwill arising on acquisition
|
|
|
63,823
|
53,804
|
10,019
|
|
|
|
————
|
————
|
————
|
|
|
|
|
|
|
|
|
|
117,196
|
56,239
|
60,957
|
|
|
|
═════
|
═════
|
═════
|
Satisfied by:
|
|
|
|
|
|
Cash consideration
|
|
|
77,387
|
42,037
|
35,350
|
Cash acquired
|
|
|
(1,589)
|
1,215
|
(2,804)
|
Fair value of previously held 50% interest in Odlum Group
|
28,411
|
-
|
28,411
|
||
Deferred consideration
|
|
|
12,987
|
12,987
|
-
|
|
|
|
————
|
————
|
————
|
|
|
|
117,196
|
56,239
|
60,957
|
|
|
|
═════
|
═════
|
═════
|