2002 Report And Accounts - Guinness Peat Group plc

Notes to the Financial Statements2 Segmental reporting (continued)TurnoverGeographical (by destination): 2002 2001£000 £000United Kingdom 6,493 5,956United States of America 5,661 7,423Europe 7,314 8,619Rest of the World 37,628–––––––22,998–––––––Continuing operations 57,096 44,996Discontinued operations 2,974–––––––25,084–––––––60,070 70,080––––––– –––––––Group 58,969 70,080Joint venture 1,101–––––––––––––––60,070 70,080––––––– –––––––3 Exceptional items2002 2001Notes £000 £000Restructuring costs i (678) (325)Share capital reorganisation costs – (458)Profit/(loss) on write down/disposal of properties held for resale ii 25 (215)Provision for onerous property leases 34 (182)Provision against mineral rights – (3,694)Provision against intellectual property – (816)Write off of development costs iii (587) –Costs incurred on proposed transaction (note 31) iv (768)–––––––––––––––––––––––Exceptional items within operating profit (1,974)–––––––––––(5,690)–––––––––––Provision for loss on sale of fixed assets ––––––––––––(1,656)–––––––––––(Loss)/profit on disposal/termination of discontinued operations v (583) 5,655Goodwill previously written off vi (567)–––––––––––(8,364)–––––––––––Loss on disposal/termination of discontinued operations (1,150)–––––––––––(2,709)–––––––––––Net interest payable and similar charges ––––––––––––(1,000)–––––––––––Total exceptional items (3,124)–––––––––––(11,055)–––––––––––i As part of the re-organisation of the Group, restructuring costs totalling £678,000 were incurred in the period.ii A profit/(loss) was made during the period following the sale of surplus properties.iii Capitalised development costs of £587,000 were written off due to inconclusive results being obtained from trials of a newdevelopment machine.iv Costs of £768,000 have been incurred up to 30th June 2002 in relation to the proposed transaction with Guinness Peat Group.v The loss on disposal/termination of discontinued activities can be broken down as follows: £000Loss on disposal of Elite Cameron Limited (356)Redundancy costs in the closed mineral businesses (76)Other residual costs of businesses terminated in previous years (151)–––––––––––(583)–––––––––––vi Goodwill previously written off in respect of Elite Cameron Limited disposal has been written back through the profit and lossaccount.vii The loss on disposal/termination of discontinued activities of £1,150,000 has resulted in a tax credit of £68,000.29