Jenners,Princes Street,Edinburgh Ld
03 October 2002
JENNERS PRINCES STREET EDINBURGH LIMITED
INTERIM REPORT
Group turnover in the first half increased by 2% on last year, with both Princes
Street and Edinburgh Airport improving on last year's performance.
Operating profits have been reduced by the start up costs for our new store at
Loch Lomond Shores, which opened on 19th September 2002, although overall
expenses have been controlled within budget. The reduction in interest revenue
reflects a continued period of low interest rates and a reduction in funds on
deposit due to the financing of the above.
The results for the full year will depend on the important trading period before
Christmas. Clear signs of consumer expenditure slowing down and increased
competition in the city centre makes the outlook more unpredictable than usual.
An interim dividend on the Ordinary Shares of 82p per share has been declared
and will be payable on 4th November to members on the register at 31st October
2002.
By order of the Board
E Barclay, Secretary 3rd October 2002
CONTACT - ELIZABETH BARCLAY 0131 260 2324
INTERIM GROUP RESULTS
FOR THE HALF YEAR TO 28TH JULY 2002
(Unaudited)
Half Year to Half Year to Year to
28 July 2002 29 July 2001 27 January 2002
£000 £000 £000
Turnover (excluding VAT) 19,987 19,597 46,830
Operating Profit 674 742 3,030
Interest (net) 228 327 573
Profit before Taxation 902 1,069 3,603
Taxation (note 2) 271 321 1,320
Profit after Taxation 631 748 2,283
attributed to members
Dividends:
Preference Shares 71 71 142
Ordinary Shares 689 (82p) 689 (82p) 1,327 (158p)
760 760 1,469
Earnings per Ordinary Share 66.7p 80.6p 254.9p
(note 3)
Notes
1. The information disclosed above does not constitute statutory accounts. The accounts for the year
to 27th January 2002, on which the auditors made an unqualified report, have been lodged with the
Registrar of Companies.
2. Corporation tax is based on the profit for the half year to 28th July 2002 at 30 per cent (2001 -
30 per cent).
3. Earnings per Ordinary Share is based on profit after preference dividend and on 840,000 Ordinary
Shares in issue.
4. This information will be sent to shareholders and will be available to members of the public at
the Company's registered office, 48 Princes Street, Edinburgh, EH2 2YJ.
3rd October 2002
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