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Home | 2000 Industrials | 2700 Industrial Goods & Services | 2790 Support Services

2791 Business Support Services

Equity Alert Connaught plc Period End 31 August 2009

Connaught plc Period End 31 August 2009

Fine treated as an adjusting post balance sheet event reduces profit by 17%
UK equipment maintenance company Connaught treats as an adjusting event a £5.6 million post balance sheet fine imposed by the Office of Fair Trading that reduces its pre-tax profit by 17%.

Equity Alert eaga plc Period End 31 May 2009

eaga plc Period End 31 May 2009

Enhanced goodwill disclosures bring to light prior year non-compliance

UK energy efficiency company eaga discloses the allocation of goodwill to material cash-generating units, bringing to light prior year non-compliance with IAS 36 “Impairment of assets”, though no impairment of goodwill is recognised in the year.


Employee Trust-funded share-based payments disclosed separately on income statement

UK energy efficiency company eaga recognises £1.6 million cost in respect of share-based payments funded by an employee Trust that holds 37% of its share capital through “waiver” of dividend rights, though the motivation of the Trust is not explained in the annual report.

 

Equity Alert Northgate plc Period End 30 April 2009

Northgate plc Period End 30 April 2009

Impairments bite deep as goodwill in six businesses written off

Following a sudden and prolonged period of reduced vehicle utilisation and declines in the residual values of used vehicles, UK vehicle rental company Northgate recognises £181 million impairments of goodwill, intangibles and vehicle fleet, leading to a pre-tax loss for the year.


Treasury share reserve and retained earnings reduced to reflect fall in share price

UK vehicle rental company Northgate transfers £5.5 million out of its “own shares” reserve to in respect of a “market value adjustment”, reducing retained earnings by 11%.

 

Equity Alert Ashtead Group plc Period End 30 April 2009

Ashtead Group plc Period End 30 April 2009

Classification as revenue of income from sale of rental assets boosts revenue but reduces operating cash flows

UK equipment rental company Ashtead increases revenue by 9% after classifying income from sale of rental assets as revenue but a 47% reduction in net cash from operating activities follows.

 

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