Big Yellow Group (BYG) 2004年年度报告「LSE」.pdf

1、Big Yellow Group PLCAnnual Report&Accounts 2004Big Yellow Group PLC2 The Deans,Bridge Road,Bagshot,Surrey GU19 5ATTel:01276 470190Fax:01276 470191e-mail:infobigyellow.co.ukwww.bigyellow.co.ukBig Yellow Group PLC Annual Report&Accounts 2004“AS WITH PREVIOUS YEARS,THEGROUP HAS ENJOYED CONTINUEDGROWTH

2、OVER THE YEAR,following strong tradingin the first half.In the second half we experienced the usual winter slowdownbut I am pleased to report a robust pick up in trading in the fourth quarter,which has continued into April and we now look forward to a busy summer.A SIGNIFICANT MILESTONE HAS BEENACHI

3、EVED THIS YEAR IN TURNING THEGROUP PRE-TAX PROFITABLE.We now have thetwin objectives of increasing earnings per share whilst maintaining a sustainableexpansion programme.WE BELIEVE THAT BIG YELLOWSMARKET POSITION,BRANDING,CASHFLOW,access to capital and real estate skills will allow us to achievethes

4、e two objectives.”CONTENTS01 Financial Highlights02 Locations04 Chairmans Statement06 Operating Review12 Financial Review13 Trading Summary14 Report on Corporate Governance17 Directors Report19 Report on Directors Remuneration22 Directors Biographies and Senior Management23 Independent Auditors Repo

5、rt24 Consolidated Profit and Loss Account25 Consolidated Balance Sheet26 Reconciliation of Movements in Shareholders Funds26 Statement of Total Recognised Gains and Losses27 Consolidated Cash Flow Statement27 Reconciliation of Net Cash Flow to Movement in Net Debt28 Company Balance Sheet29 Notes to

6、the Accounts40 Five Year Summaryibc Officers and Professional Advisers“A SIGNIFICANT MILESTONE HAS BEENACHIEVED THIS YEAR IN TURNING THE GROUPPRE-TAX PROFITABLE.WE NOW HAVE THE TWINOBJECTIVES OF INCREASING EARNINGS PERSHARE WHILST MAINTAINING A SUSTAINABLEEXPANSION PROGRAMME.WE BELIEVE THAT BIG YELL