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Key financial data

Consolidated income statement

	2011 £'000	2010 £'000
Revenue	65,135	78,129
Cost of sales	(45,217)	(56,931)
Gross profit	19,918	21,198
Administrative expenses (including amortisation of other intangible assets and exceptional items)	(17,079)	(18,308)
Operating profit	2,839	2,890
Comprising:
Adjusted operating profit	5,034	4,109
Amortisation of other intangible assets	(1,477)	(595)
Exceptional items	(718)	(624)
	2,839	2,890
Finance income	27	38
Finance costs	(170)	(180)
Profit before tax	2,696	2,748
Income tax credit/(expense)	65	(457)
Profit for the year attributable to the equity shareholders of the parent	2,761	2,291

All profit for the year is attributable to equity shareholders of the parent and is derived from continuing operations.

	2011 £'000	2010 £'000	2009 (restated) £'000
Assets
Non-current assets
Goodwill	31,395	31,043	31,043
Other intangible assets	2,155	632	1,227
Property, plant and equipment	7,820	7,930	4,727
Investment in subsidiaries	–	–	–
Deferred tax asset	118	1,015	266
	41,488	40,620	37,263
Current assets
Inventories	356	440	359
Trade and other receivables	20,339	22,837	22,438
Derivative financial instruments	575	15	178
Cash and cash equivalents	10,177	6,656	7,511
	31,447	29,948	30,486
Total assets	72,935	70,568	67,749
Liabilities
Current liabilities
Trade and other payables	(15,220)	(15,117)	(16,164)
Current tax liabilities	(973)	(1,804)	(993)
Other loans	–	–	(32)
Derivative financial instruments	–	(53)	(68)
Bank borrowings	(3,131)	(3,171)	(3,167)
Provisions	(3,339)	(2,411)	(1,528)
	(22,663)	(22,556)	(21,952)
Non-current liabilities
Bank borrowings	(313)	(444)	(615)
Deferred tax liability	(1,601)	(1,053)	(920)
Provisions	(103)	(155)	–
	(2,017)	(1,652)	(1,535)
Total liabilities	(24,680)	(24,208)	(23,487)
Net assets	48,255	46,360	44,262
Equity
Share capital	4,079	4,079	4,059
Share premium account	29,519	29,519	29,297
Own shares	(302)	–	–
Hedge reserve	24	11	(49)
Share option reserve	555	379	266
Retained earnings	14,380	12,372	10,689
Total equity attributable to the equity shareholders of the parent	48,255	46,360	44,262

Andrew Thomis	Simon Walther	Company number
Chief Executive	Finance Director	05684823

	2011 £'000	2010 £'000
Net cash from operating activities	6,512	3,961
Cash flow from investing activities
Interest received	27	38
Proceeds on disposals of property, plant and equipment	–	35
Purchases of property, plant and equipment	(599)	(3,795)
Purchase of own shares	(302)	–
Acquisition of subsidiaries, net of cash acquired	(918)	(280)
Net cash used in investing activities	(1,792)	(4,002)
Cash flow from financing activities
Dividends paid	(894)	(754)
Repayment of borrowings	(171)	(199)
Proceeds on issue of shares	–	242
Net cash used in financing activities	(1,065)	(711)
Net increase/(decrease) in cash and cash equivalents	3,655	(752)