UK poultry processor Bernard
Matthews may yet be subject to a buyout by the Matthews family, although no
decision has been made final.
The family currently owns
a stake of 42% and a company statement revealed that, “the Matthews family
continues to consider its position regarding a possible offer for those shares
in the company that it does not already own.”
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Bernard Matthews released
H1 figures this week, which displayed a 43% rise in pre-tax profit to £15.9m
on turnover of £179m. Value-added sales rose by 7%, but were adversely
affected by the withdrawal from the export commodity business, which was otherwise
loss-making. The company directors have announced an interim dividend of 2.42p
per share, an increase of 10% from last year. Share prices provide an estimate
of the total value of the company at £182m.
UNAUDITED GROUP PROFIT
AND LOSS ACCOUNT FOR THE 28 WEEKS ENDED 16TH JULY, 2000
|
2000 |
1999
(28 weeks) £000’s |
1999
(52 weeks) £000’s |
|
| Turnover | 179,367 | 175,287 | 344,254 |
| Group operating profit | 16,729 | 12,907 | 28,181 |
| Share of operating profit of associates |
245 | 86 | 77 |
| Operating profit including associates Interest |
16,974 (1,046) |
12,993 (1,921) |
28,258 (3,215) |
| Profit on ordinary activities before taxation Taxation |
15,928 (4,677) |
11,072 (3,502) |
25,043 (7,881) |
| Profit on ordinary activities after taxation Minority interests |
11,251 (6) |
7,570 (5) |
17,162 (12) |
| Profit for the period Dividends |
11,245 (3,070) |
7,565 (2,738) |
17,150 (6,597) |
| Retained profit | 8,175 | 4,827 | 10,553 |
| Earnings per share |
|||
| Basic | 9.00p | 6.08p | 13.78p |
| Diluted | 8.96p | 6.04p | 13.71p |
| Dividends per share | 2.42p | 2.20p | 5.30p |
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