Financials
"In a year in which the market began to weaken, we have delivered further growth in Osborne." Simon Murray, Chairman
For the financial year ending 31 March 2008, the Group recorded its twelfth consecutive year of growth with turnover up by 21% to £303.7 million. The Group reported a pre-tax loss of £1.76 million. This is largely the result of provisions on two projects and the start up costs of Innovaré Systems. The secured order book for the next twelve months increased by 25% to £242.9 million and for 2009/10 we have already secured more than £200 million of work.
Underlying profitability remains good and the Group has a strong balance sheet and healthy cash balances. Osborne is well positioned for what is expected to be a period of uncertainty in the UK economy.
You can see key financial information in the summary sheet below.
Full details of our 2008 financial results can be found in our Annual Report and our Annual Accounts. These can be downloaded in pdf form here or you can order a hard copy by clicking on our Enquiry Form.
| Continuing Operations | |||||
| 2009 | 2007 | 2006 | 2005 | 2005 | |
|---|---|---|---|---|---|
| £'000 | £'000 | £'000 | £'000 | £'000 | |
| Profit and Loss Account | |||||
| Turnover | 303,685 | 248,298 | 229,876 | 218,363 | 191,248 |
| Profit/(loss) before tax | (1,763) | 4,588 | 3,529 | 2,958 | 2,928 |
| Earnings/(loss) per share(pence) | (116.6) | 288.6 | 227.3 | 204.5 | 204.2 |
| Dividends paid per share(pence)* | 100 | 100 | 80 | 46.6 | 81.5 |
| Balance sheet | |||||
| Fixed assets | 8,756 | 7,895 | 8,342 | 8,160 | 7,331 |
| Working capital** | (19,182) | (8,858) | (13,745) | (11,755) | (11,695) |
| Provisions for liabilities and charges | (2,540) | (2,092) | (2,015) | (1,722) | (1,754) |
| Pension surplus/(deficit) | 477 | (22) | (1,189) | (2,330) | (2,301) |
| (12,489) | (3,077) | (8,607) | (7,647) | (8,419) | |
| Cash less borrowings | 33,943 | 26,884 | 29,636 | 24,394 | 23,378 |
| Assets employed | 21,454 | 23,807 | 21,029 | 16,747 | 14,959 |
| Shareholders' funds | 21,454 | 23,807 | 21,029 | 16,747 | 14,959 |
* Represents amounts authorised by shareholders during the year
** Excluding cash but including long term liabilities