APPENDIX 2

y/e 30 June

1983

1984

1985

1986

1987

IR£000

Turnover

23,691

37,317

49,437

53,253

48,081

Op. Stock

11,863

10,318

11,538

12,060

12,638

Add: Material Purchases

10,903

19,834

27,826

26,325

21,842

Less: Closing Stock

10,318

11,538

12,060

12,638

10,649

Cost of Goods Sold

12,448

18,614

27,304

25,747

23,831

Gross Profit

11,243

18,703

22,133

27,506

24,250

Gross Profit %

47.46

50.12

44.77

51.65

50.44

Expenses:

Employment Costs

8,166

10,125

10,827

10,326

10,206

Depreciation

4,474

4,488

4,634

4,668

4,909

(Amortisation Govt. Grant)

-301

-301

-301

-301

-301

Energy

5,170

7,996

8,429

8,176

6,172

Financial Charges

10,403

11,682

5,978

1,629

2,388

Selling Costs

2,194

3,569

4,830

5,378

5,367

Directors’ Emoluments

33

19

5

5

5

Auditors Fees

13

16

18

20

20

Other Admin., Production Costs

1,386

2,185

2,871

3,384

3,199

Trading Profit/(Loss)

-20,295

-21.076

-15,158

-5,779

-7,715

Investment Income

298

2,266

Foreign Currency Gain/(Loss)

-1,194

-1,998

-1,330

5,982

464

Extraordinary Items

-1,000

Profit/(Loss)

-21,489

-23,074

-17,488

501

-4,985

Stockturn

2.1

3.4

4.2

4.3

4.1

Employees

630

632

637

521

522

Employment Cost per head

12,962

16,021

16,997

19,820

19,552

Export Sales,%

59.5

64.0

69.0

78.0

82.0

Output,tonnes;

Finished Steel

81,384

130,362

168,335

190,281

194,150

Coated Sheet

7,640

8,210

8,290

4,985

4,957

Capital Employed

67,789

66,914

62,559

75,667

71,389

Net Borrowings

84,123

86,623

31,057

37,965

38,973

Net Borrowings/Cap.Employed,%

124

129

49

50

54

Output/Employee, tonnes

141

219

277

375

381

Net Profit (b.int.)/Capital Employed

-16.4

-17.0

-18.4

2.8

-3.6

Current Ratio

0.72

0.74

2.11

2.53

1.56