Information  X 
Enter a valid email address

Warburg(S.G.)Group (WSGC)

  Print      Mail a friend

Wednesday 28 June, 2000

Warburg(S.G.)Group

Final Results

Warburg (S.G.) Group PLC
28 June 2000




                  SG Warburg Group plc
                  --------------------
                            
                  Preliminary Statement
                  ---------------------
           For the year ended 31 December 1999
           -----------------------------------

Please find enclosed the text of the Annual Financial
Statement of SG Warburg Group plc for the year ended 31 December 1999,
which has been approved by the Board on 27 June 2000.


                  SG Warburg Group plc
                  --------------------
                            
                  Preliminary Statement
                  ---------------------
           For the year ended 31 December 1999
           -----------------------------------


The Group, comprising the Company and its subsidiaries,
carries on investment activities, including the provision
of finance to a number of companies within the UBS AG
Group.

Dividends on the 7 5/8 per cent. Cumulative Preference
Shares amounted to £834,000 net of tax credit (1998 -
Dividends on the 7 5/8 per cent. Cumulative Preference
Shares amounted to £834,000 net of tax credit).  The
directors do not recommend a dividend on Ordinary Shares
of the Company for the year ended 31 December 1999 (1998:
£nil).


Independent Review Report to SG Warburg Group plc
-------------------------------------------------

Introduction
------------

We have been instructed by the company to review the
financial information set out on page 3 and we have read
the other information contained in the preliminary
statement and considered whether it contains any apparent
misstatements or material inconsistencies with the
financial information.

Directors' responsibilities
---------------------------

The preliminary statement, including the financial
information contained therein, is the responsibility of,
and has been approved by the directors.  The listing of
the London Stock Exchange require that the accounting
policies and presentation applied in preparing the
preliminary figures should be consistent with those
applied in preparing the preceding annual accounts except
where any changes, and the reason for them, are
disclosed.

Review work performed
---------------------

We conducted our review in accordance with guidance
contained in Bulletin 1999/4 issued by the Auditing
Practices Board.  A review consists principally of making
enquires of group management and applying analytical
procedures to the financial information and underlying
financial data and based thereon, assessing whether the
accounting policies and presentation have been
consistently applied unless otherwise disclosed.  A
review excludes audit procedures such as tests of control
and verification of assets, liabilities and transactions.
It is substantially less in a scope than an audit
performed in accordance with Auditing Standards and
therefore provides a lower level of assurance than an
audit.  Accordingly we do not express an audit opinion on
the financial information.

Review Conclusion
-----------------

On the basis of our review we are not aware of any
material modifications that should be made to the
financial information as presented for the year ended 31
December 1999.


Ernst & Young
27 June 2000

SG Warburg Group plc and Subsidiaries
-------------------------------------

Consolidated Profit and Loss Account for the year
ended 31 December 1999
-------------------------------------------------


                                          Year       Year
                                         ended      ended
                                   31 December    31 December
                                          1999       1998
                                   (unaudited)     (audited)
                                     -----------  -------
                                         £m         £m
                                     -----------  -------


Interest receivable                      79         121
Interest payable and similar charges    (15)        (35)
Other operating income                    9          15
Depreciation and amortisation            (1)         (2)
Administrative expenses                  (4)        (12)
Profit on disposal of investments         -           7

                                     -----------  -------

Profit on ordinary activities before
 taxation                                68          93

Taxation                                 (4)         (4)
                                     -----------  -------

Profit after taxation                    64          90

Minority interests - equity             (11)        (23)
                                     -----------  -------

Profit after taxation and minority 
interests                                 52         67

Dividends on Preference Shares           (1)         (1)
                                     -----------  -------

Transfer to reserves                     51          66
                                     ===========
Earnings per Ordinary Share
 (basic and diluted)                   22.37p      28.86p
                                     ===========

The above consolidated profit and loss account in
nonstatutory.

Approved by the Board on 27 June 2000.

J Ozanne, Director




                                                                                
                                              

a d v e r t i s e m e n t