Press Releases
IFRS Restatement
2nd March 2006
Overview
Manganese Bronze Holdings PLC (‘the Group’) today releases restated consolidated financial statements for the year ended 31 July 2005, applying International Financial Reporting Standards (IFRS). The last financial statements under UK GAAP were for the year ended 31 July 2005 and the date of transition to IFRS was, therefore, 1 August 2004. The first set of results reported by the Group under IFRS will be the interim results for the six months to 31 January 2006, due for release on 5 April 2006.
The key headlines from the restated accounts are:
- Net Assets as at 31 July 2005 reduced by £3.5m to £20.3m
- 2004/05 profit after tax increases by £0.7m to £2.4m
- No impact on Group cash flow
Principal areas affected by IFRS
| £m |
Profit earned
for ordinary
shareholders
|
Net Assets
as at
31st July 2005
|
| Pension accounting |
0.9 |
(6.2) |
| Depreciation/amortisation |
(0.1) |
0.2 |
| Dividends |
- |
0.6 |
| Deferred tax |
(0.1) |
1.9 |
| Net impact |
0.7 |
(3.5) |
Contacts
| Manganese Bronze Holdings plc |
|
Mark Fryer,
Group Finance and Business Development Director |
02476 572 223 |
| |
|
| Financial Dynamics |
|
| Jon Simmons |
020 7831 3113 |
Click here to view the full IFRS Restatement - PDF format (124Kb)
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