Press Release |
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('' Ace '' or the ''Company'')
Final Results
Highlights
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Consolidated profit for the year before taxation doubled to |
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Portfolio value has increased by 58% from |
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Associated rental income up 62% from |
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Total equity attributable to owners has increased by 45% in the year to |
Commenting on the final results,
- Ends -
For further information, please contact:
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Ivan Minter CFO |
Tel: +44 (0) 20 7201 8340 |
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Tel: +44 (0) 20 7251 3762 |
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Media enquiries:
Abchurch |
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Tel: +44 (0) 20 7398 7720 |
Notes to Editors
The
Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.
For more information on the Company please visit: http://acelibertyandstone.com/
Chairman's statement
The consolidated financial results for
These headline numbers endorse the investment decisions made by your Board of Directors over the past two years. In the 12 months to
I commented last year on the payment of the Company's maiden dividend and am delighted that the 2015 dividend was able to be paid at the increased level of 3.0% of nominal capital- up from 2.4% in the previous year. All dividend expectations have to be within the constraints of achievable profits and cash flow; your Directors will follow a prudent policy. Nonetheless, it is settled policy to reward shareholders in a manner consistent with the Company's ambitions for growth. The Directors are confident that Ace's performance will allow the Company to continue to pay a dividend in the foreseeable future.
Further details of the Group's performance are contained within the detailed reports.
The Group now owns, through prudent acquisition, a spread of soundly financed, well-tenanted properties with a good level of income and potentially rewarding opportunities. Over the coming years, we intend to build on this, using our real estate expertise to locate additional purchases and continue to maximise the potential returns of the existing assets.
The total rental income generated by the properties in the Group balance sheet as at
Since
Chairman |
Group Statement of Comprehensive Income for the year ended
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2015 |
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2014 |
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£ |
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£ |
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Revenue |
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1,201,185 |
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1,097,052 |
Gain on disposal of investment property |
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- |
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72,793 |
Administrative expenses |
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(887,425) |
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(1,019,360) |
Fair value gains on investment property |
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1,186,983 |
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807,133 |
Finance cost |
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(277,705) |
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(200,065) |
Finance income |
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43,743 |
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29,218 |
Share-based payment charge |
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(211,200) |
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(267,980) |
Profit before taxation |
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1,055,581 |
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518,791 |
Taxation |
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(296,559) |
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(110,575) |
Profit after taxation |
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759,022 |
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408,216 |
Other comprehensive income |
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Total comprehensive income for the period |
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759,022 |
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408,216 |
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Attributable to: |
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Owners of the parent |
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805,786 |
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398,842 |
Non-controlling interest |
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(46,764) |
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9,374 |
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759,022 |
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408,216 |
Earnings per share |
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Pence |
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Pence |
Basic earnings per share attributable to equity owners of the parent |
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0.18 |
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0.12 |
Diluted earnings per share attributable to equity owners of the parent |
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0.16 |
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0.12 |
Group Statement of Financial position at
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2015 |
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2014 |
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£ |
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£ |
ASSETS |
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Non-current assets |
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Investment property |
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23,964,428 |
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10,032,267 |
Investments |
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Other receivables |
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23,964,428 |
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10,032,267 |
Current assets |
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Trade and other receivables |
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128,301 |
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440,257 |
Cash and cash equivalents |
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1,947,384 |
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3,122,330 |
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2,075,685 |
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3,562,587 |
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TOTAL ASSETS |
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26,040,113 |
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13,594,854 |
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EQUITY AND LIABILITIES |
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Current liabilities |
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Trade and other payables |
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1,100,447 |
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724,758 |
Borrowings |
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2,533,421 |
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174,943 |
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3,633,868 |
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899,701 |
Non-current liabilities |
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Borrowings |
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8,052,269 |
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2,743,104 |
Other payables |
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918,524 |
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918,717 |
Deferred tax |
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364,435 |
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81,812 |
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9,335,228 |
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3,743,633 |
Equity attributable to equity owners |
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Share capital |
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5,238,340 |
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4,205,619 |
Share premium |
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5,402,263 |
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3,590,514 |
Share option reserve |
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479,180 |
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267,980 |
Other reserve |
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462,500 |
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Retained earnings |
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828,083 |
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179,992 |
Total equity attributable to owners of the parent |
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12,410,366 |
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8,244,105 |
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Non-controlling interests |
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660,651 |
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707,415 |
Total equity |
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13,071,017 |
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8,951,520 |
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TOTAL EQUITY AND LIABILITIES |
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26,040,113 |
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13,594,854 |
Group Cash Flow Statement for the year ended
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NOTES TO PRELIMINARY RESULTS FOR THE PERIOD ENDED
1. The financial information set out above does not constitute statutory accounts for the purpose of Section 434 of the Companies Act 2006. The financial information has been extracted from the statutory accounts of
The preliminary announcement of the results for the year ended
2. Earnings per Share
The basic earnings / (deficit) per share is calculated by dividing net profit or loss for the year attributable to ordinary equity holders by the weighted average number of ordinary shares during the year.
The diluted earnings / (deficit) per share is calculated by dividing the net profit or loss attributable to ordinary shareholders after adjustments for instruments that dilute basic earnings per share by the weighted average of ordinary shares outstanding during the year (adjusted for the effects of dilutive instruments).
The calculations of earnings per share are based on the following earnings / (deficits) and numbers of shares.
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2015 |
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2014 |
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£ |
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£ |
Profit for the period attributable to equity owners |
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805,786 |
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398,842 |
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No. of shares |
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No. of shares |
Weighted average number of shares |
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For basic earnings per share |
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454,390,623 |
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329,225,157 |
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Dilutive effect of share options |
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58,333,333 |
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9,666,667 |
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For diluted earnings per share |
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512,723,956 |
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338,891,824 |
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Earnings per share |
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pence |
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pence |
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Basic |
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0.180 |
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0.120 |
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Diluted |
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0.160 |
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0.120 |
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Dividends declared during the year - per share |
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0.030 |
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0.024 |
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£ |
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£ |
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Dividends declared during the year - total |
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157,695 |
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101,209 |
This information is provided by RNS