APPENDIX 3

Year to 31 March

Year to 31 December

1965

1966

1967

1968

1969

1970

1971

1972

1973

1974

1975

1975*

1976

1977

1978

£000’s

Profit and Loss:

Turnover

..

..

25.4

32.6

24.3

26.3

29.8

45.5

80.9

57.8

74.2

109.0

93.5

93.3

355.9

61.7

325.1

Profit/ (Loss) after financial charges

(6.2)

(6.5)

(12.9)

0.2

(5.4)

(6.6)

(5.2)

(1)

(12.3)

(14.3)

(59.5)

(6.9)

(17.4)

(69.1)

(42.6)

Balance Sheet

Employment of capital:

Fixed assets

..

177.4

177.8

176.5

171.6

168.8

166.3

173.5

217.2

222.6

228

238.5

245.8

252.5

251.1

253.1

Current assets

..

17.9

16.9

14.6

25.5

41.1

51.1

39.8

38.6

59.1

60.7

99.1

182.6

83.4

236.7

276.5

Current Liabilities

..

1.9

3.4

2.3

6.6

4.6

5.1

6.2

9.7

13.0

9.2

112.1

215.8

140.3

354.0

441.3

Net current liabilities

16.0

13.5

12.3

18.9

36.5

46.0

33.6

28.9

46.1

51.5

(13.0)

(33.2)

(56.9)

(117.3)

(164.8)

Total

..

193.4

191.3

188.8

190.5

205.3

212.3

207.1

246.1

268.7

279.5

225.5

212.6

195.6

133.8

88.3

Capital employed:

Share capital

..

200

200

200

200

200

250

250

290

325

350

350

350

350

350

350

Loan/grant

..

4.4

14.7

16.2

36.4

—

—

—

—

—

—

—

—

7.3

4.4

Cumulative deficit

(6.6)

(13.1)

(25.9)

(25.7)

(31.1)

(37.7)

(42.9)

(43.9)

(56.3)

(70.5)

(124.5)

(137.4)

(154.4)

(223.5)

(266.1)

Shareholders’ funds

193.4

191.3

188.8

190.5

205.3

212.3

207.1

246.1

268.7

279.5

225.5

212.6

195.6

133.8

88.3

Memorandum items: Grassmeal

(’000 tonnes)

..

0.9

1.4

1.1

1.5

1.8

1.8

2.0

2.3

2.6

2.6

2.3

3.4

3.0

3.2

2.8

Average number

employed

..

26

26

26

24

23

22

25

25

25

34

36

29

32

32

32