Pentland poised for US deal
Friday 12 March 1993
The deal could happen next week, the company said yesterday after releasing results for 1992.
Frank Farrant, finance director, declined to give details but said: 'We prefer branded companies where we can bring added value.'
The purchase would come just a month after Pentland paid pounds 7m cash to buy the Berghaus outdoor clothing and equipment group.
Pentland, whose brands include Speedo swimwear and Pony and Kickers shoes, is best known for its past involvement with Reebok, the US sportswear company and ultimately the generator of much of its cash.
Pentland's results, which were always complicated by the Reebok holding, looked even more complex yesterday, with the company fully adopting the incoming FRS3 accounting format. 'We think our exceptionals are fairly extraordinary,' quipped Mr Farrant.
Under existing accounting principles profits moved ahead from pounds 19.6m to pounds 36.3m, but under FRS3 fell from pounds 240m to pounds 83.6m, with previous gains on disposals taken before tax rather than after.
The underlying trading performance was flat. Turnover eased from pounds 340m to pounds 326.5m and operating profits fell from pounds 8.5m to pounds 7.6m. Net interest receivable soared from pounds 6.3m to pounds 26.1m.
The dividend is being lifted from 2.25p to 2.5p.
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
Dennis Rodman will coach the North Korea basketball team
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Ian Watkins: Police probed over earlier allegations as paedophile Lostprophets singer sentenced to 35 years for child sex offences
Iain Duncan Smith leaves Commons food banks debate early
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £550 per day: Cornwallis Elt : Business Analyst Target Operating Mod...
£500 - £680 per day: Harrington Starr: Murex Business Analyst - 1000 CHF per d...
£60000 - £75000 per annum + Bonus and Benefits: Harrington Starr: A leading au...
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...