Centaur Holdings plc - Hemscott IR

A fair value adjustment of £200,000 has been
made in respect of tangible assets considered
to be obsolete at the date of acquisition.
The summary profit and loss account for the
Centaur Communications Group for the period 1
July 2003 to 9 March 2004 is as follows:
£’000
Turnover 42,761
Cost of Sales (24,408)
Gross profit 18,353
Distribution costs (3,028)
Administrative expenses (13,485)
Operating profit 1,840
Interest receivable and similar income 125
Amounts written off investments (274)
Interest payable and similar charges (3)
Profit on ordinary activities before taxation 1,688
Tax on profit on ordinary activities 2,391
Profit for the financial year 4,079
The profit before taxation for the year to 30 June
2003 was £16,177,000 and this included a profit
of £15,385,000 in respect of the disposals of Lawtel
Ltd and Consultancy Europe Associates Ltd.
Profit for the financial year, for the year ended 30
June 2003, was £15,538,000.
(ii) Synergy Software Group
On 21 July 2003, the Centaur Communications
Group acquired 10% of the share capital of
Synergy Software Solutions Limited and its
subsidiary companies ("Synergy") and on 23
October 2003 the Centaur Communications
Group acquired the remaining 90% of the share
capital for a total cash consideration of
£1,242,000. In addition, deferred consideration is
payable based on the operating profits of Synergy
up to 30 June 2007. At 30 June 2004, a provision
of £2,500,000 is held as the Directors’ best
estimate of the deferred consideration payable.
The net liabilities acquired with Synergy and all
provisional fair value adjustments in respect of
those net liabilities are fully reflected in the net
assets acquired with the Centaur
Communications Group on 10 March 2004.
Centaur Holdings plc
Review 03/04 49