Kleeneze - Preliminary Results for the year ended 28th April 2005
Kleeneze plc (“Kleeneze” or the “Group”), the leading European home retail group, announces preliminary results for the period ended 28th April 2005.
Turnover from continuing operations up 10.7% to £175.9 million (2004: £158.9 million)
Profit before tax of £5.9 million (2004: Loss £2.0 million)
Basic earnings per share of 10.21 pence (2004: Loss 5.76 pence) and normalised basic earnings per share of 10.17 pence (2004: 12.85 pence)
Final dividend up 11.5% to 2.23 pence (2004: 2.0 pence)
total for the year up 10% to 3.30 pence (2004: 3.0 pence)
Net debt at 28th April 2005 of £27.0 million (2004: £11.2 million) after cash outflows of £13.1 million relating to acquisitions
Operating profit from existing operations before goodwill amortisation and exceptional items of £7.7 million (2004: £7.9 million);
Strong performance from Kleeneze Europe and launch in the Netherlands
Acquisitions of the leading internet businesses I Want One of Those.com and Kitbag.com
Launch of eeZee tv, our Joint Venture television shopping channel
Re-naming of Kleeneze plc to European Home Retail plc William Rollason,
Chief Executive of Kleeneze plc, said:“This has been an exciting year where we have laid the foundations for the future. Against a very weak retailing environment in the UK we have returned Kleeneze Europe to growth. Furthermore, the acquisitions of IWOOT and Kitbag, the launch of eeZee tv and the successful start to Kleeneze’s continental European expansion are major steps in creating a specialist European home shopping group, which is why we have decided to change the name of the Group to “European Home Retail plc”.The combination of our three retailing platforms of Catalogue Home Shopping, Internet Retailing and Television Shopping with our core skills of consumer marketing, product sourcing and fulfilment, puts the Group in a strong position to accelerate growth.”
Turnover from continuing operations up 10.7% to £175.9 million (2004: £158.9 million)
Profit before tax of £5.9 million (2004: Loss £2.0 million)
Basic earnings per share of 10.21 pence (2004: Loss 5.76 pence) and normalised basic earnings per share of 10.17 pence (2004: 12.85 pence)
Final dividend up 11.5% to 2.23 pence (2004: 2.0 pence)
total for the year up 10% to 3.30 pence (2004: 3.0 pence)
Net debt at 28th April 2005 of £27.0 million (2004: £11.2 million) after cash outflows of £13.1 million relating to acquisitions
Operating profit from existing operations before goodwill amortisation and exceptional items of £7.7 million (2004: £7.9 million);
Strong performance from Kleeneze Europe and launch in the Netherlands
Acquisitions of the leading internet businesses I Want One of Those.com and Kitbag.com
Launch of eeZee tv, our Joint Venture television shopping channel
Re-naming of Kleeneze plc to European Home Retail plc William Rollason,
Chief Executive of Kleeneze plc, said:“This has been an exciting year where we have laid the foundations for the future. Against a very weak retailing environment in the UK we have returned Kleeneze Europe to growth. Furthermore, the acquisitions of IWOOT and Kitbag, the launch of eeZee tv and the successful start to Kleeneze’s continental European expansion are major steps in creating a specialist European home shopping group, which is why we have decided to change the name of the Group to “European Home Retail plc”.The combination of our three retailing platforms of Catalogue Home Shopping, Internet Retailing and Television Shopping with our core skills of consumer marketing, product sourcing and fulfilment, puts the Group in a strong position to accelerate growth.”
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