Notes to the Financial Statements

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ZiRAXSpecialists in production and supply of:• High performance de-icing solutions• Oilfield process chemicalsZirax produces, markets and sells its productsinternationally to a diverse client-base.Contents01 Highlights02 Chairman’s statement04 Operating Review08 Financial Review10 Board of Directors12 Directors’ report16 Independent Auditors’ report18 Consolidated Income Statement19 Balance Sheets20 Cash Flow Statements21 Consolidated statement of Shareholders’Funds and Statement of Changes inShareholders’ Equity22 Notes to the Financial Statements32 Company information48 Directors and AdvisersTurnover in 2006 reached $25 million...04
Market potential in bothde-icing and oil and gas is vastFinancial performance• Total revenues up 21% to $25.0m (2005 $20.6m)• Pre-tax profit up 35% to $3.9m (2005: $2.9mexcluding exceptional listing costs)• Oilfield process chemical operating profit up186% to $1.6m (2005: $0.6m)• De-icing operating profit up 36% to $3.4mon reduced revenue (2005: $2.5m)• $9.4m cash reserves at 31 December 2006Capacity constraints• Demand continues to exceed supply in bothmajor markets• Increasing capacity*» 2005 – 80,000 metric tonnes» 2006 – 100,000 metric tonnes» 2007 – 170,000 metric tonnes (forecast)*Capacity achieved/forecast at the end of each calendar yearRevenues up21%Profit up35%OilfieldProfit up186%De-icingProfit up36%05 06 07Increase incapacityHighlights...and capacity will increase by 70% in 2007.ZiRAX Annual Report & Accounts 200601
Page 1: Annual Report & Accounts 2006We’v
Page 6 and 7: Having achieved our operational goa
Page 10 and 11: Strong all round performancefrom a
Page 12: Board of Directors ZiRAX Annual Rep
Page 15 and 16: Directors’ ReportcontinuedOOO Yug
Page 17 and 18: Directors’ ReportcontinuedShareho
Page 19 and 20: Independent Auditors’ ReportTo th
Page 21 and 22: Balance SheetsAt 31 December 2006No
Page 23 and 24: Consolidated Statement of Sharehold
Page 25 and 26: Notes to the Financial Statements31
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Zirax plc68 Lombard Street,London E
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Notes to the Financial Statements

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