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Company Information Specialists. Reports and searches on companies, U.K. and Worldwide. |
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Registered Office: 2nd Floor, 80 Great Eastern Street, London. EC2A 3JL Help Desk: 0171 729 1234 |
Date : 19/02/1999 Time : 11:40:35
Latest Information : 15/02/1999 Version : 77.0
Client Code : 660099 0
Client Reference : ref
Currency : #
Company Name : A SAMPSPECIMEN PLC
Company Number : 0000000
Date of Incorp : 12/08/1897
Annual Return Date : 20/05/1998
Credit Limit : 20,000,000.00
Company Type : Public Company
Legal Status : Clear
Legal Status Date : N/A
Company Secretary : MR P T B SECRETARY,
Registered Office : 3 BURTON GARDENS
LONDON
W3X 3LE
Post Code : W3X 3LE
Business Address : 3 BURTON GARDENS
LONDON
W3X3LE
Business Phone No. : 0171 422 7777
Fax Number : 0171 455 4545
Names of Directors : MR G SAMP1, D J SAMP2, J C SAMP3, D C M SAMP4, G M SAMP5, V L SAMP6, M M SAMP7, SIR H D SAMP8 CBE, MR R SAMP9,MR M A SAMP10,
Supplementary Director Details
Business Activities :
Holding company of a group engaged in publishing,
entertainment, television and other media services.
US SIC Codes : 7313 RADIO TELEVISION PUBLISHER REPRESENTATIVES
2731 BOOK PUBLISHING
2711 NEWSPAPERS
6719 HOLDING COMPANIES NEC
Previous Names : N/A
Share Capital and Shareholders
Annual Return Date : 20/05/1998
Share Currency : #
Nominal Capital : 209,500,000
Divided Into : 838,000,000 ORD Shares of .25 each
Issued at date of Report : 578,341,966 ORD
Names of Principal Shareholders :
BULK LIST AVAILABLE ORD 578,341,966
Immediate Holding Company : None
Ultimate Holding Company : Not Applicable
Up to 10 UK Subsidiaries :
FC004790 ADDISON-WESLEY PUBLISHING COMPANY INCORPORATED
00227590 FINANCIAL TIMES LIMITED(THE)
02970324 FINANCIAL TIMES PROFESSIONAL LIMITED
00861590 PENGUIN BOOKS LIMITED
00872828 PEARSON EDUCATION LIMITED
02263617 PEARSON TELEVISION SERVICES LIMITED
00926655 THAMES TELEVISION LIMITED
00949387 EXTEL FINANCIAL LIMITED
00276928 PEARSON TELEVISION INTERNATIONAL LIMITED
00980896 FINANCIAL TIMES INFORMATION LIMITED
Directors and Secretary Details
COMPANY SECRETARY
Co Secretary:
MR P T B SAMP1
Nationality : BRITISH Date Appointed: 13/10/1997
Home Address: Date of Birth : 12/04/1933
28 ISCOMBE LANE Occupation:
LONDON
SE34 3UA Co Sec & Director: N
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
DIRECTORS
Director :
MR G SAMP2
Nationality : BRITISH Date Appointed: 15/03/1996
Home Address: Date of Birth : 20/05/1933
28 AIA ROAD Occupation:
COMPANY DIRECTOR
BERTHAM
MIDDLESEX TW3 5QW
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
D J SAMP3
Nationality : BRITISH Date Appointed: 03/05/1996
Home Address: Date of Birth : 08/12/1953
3 AIE GARDENS Occupation:
MERCHANT BANKER
LONDON
W12 3AJ
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
J C SAMP4
Nationality : BRITISH Date Appointed: 15/03/1996
Home Address: Date of Birth : 10/10/1952
25 RMOND LANE Occupation:
FINANCE DIRECTOR
LONDON
N12 3LY
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
D C M SAMP5
Nationality : BRITISH Date Appointed: 15/03/1996
Home Address: Date of Birth : 30/09/1944
35 LITHA ROAD Occupation:
DIRECTOR
LONDON
N21 4PE
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
G M SAMP6
Nationality : BRITISH Date Appointed: 22/05/1992
Home Address: Date of Birth : 15/02/1934
NORTHLANDS occupation:
LEY LINE SENIOR VICE PRESIDENT
ALWAY
HAMPSHIRE EE335BP
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
V L SAMP7
Nationality : BRITISH Date Appointed: 08/01/1993
Home Address: Date of Birth : 09/05/1939
OAKEN COPPICE HOUSE Occupation:
MALL LANE
GROUP CHIEF EXECUTIVE OF
MAIDENHEAD RECKITT & COLEMAN
BERKS SL635QT
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
M M SAMP8
Nationality : BRITISH Date Appointed: 01/01/1997
Home Address: Date of Birth : 25/01/1937
19 HEADRE HOUSE Occupation:
LOE ROAD MANAGING DIRECTOR
LONDON
SW37 4RU
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
SIR H D SAMP9 CBE
Nationality : BRITISH Date Appointed: 22/05/1992
Home Address: Date of Birth : 19/07/1943
32 BLAND PLACE Occupation:
COMPANY DIRECTOR
LONDON
SW14E 4HL
Other Directorships: Y
There is no record of County Court Judgments against this director
at the address given above.
Director :
MR R SAMP10
Nationality : AMERICAN Date Appointed: 22/05/1992
Home Address: Date of Birth : 21/01/1949
16 THE STREET Occupation:
LONDON CHAIRMAN AND CHIEF
CONNECTICUT EXECUTIVE O
06835
USA Other Directorships: Y
This director is not resident in the UK and therefore no
County Court Judgment information is available.
Director :
MR M A SAMP11
Nationality : FRENCH Date Appointed: 22/05/1992
Home Address: Date of Birth : 23/11/1933
LARENS ROAD Occupation:
HEAVEN LANE BANKER
NY 11564
USA Other Directorships: Y
This director is not resident in the UK and therefore no
County Court Judgment information is available.
Mortgages and Charges
Charges/Debentures Registered
Companies House Mortgage Information
1 Fully Satisfied/no
RESOLUTION
Bankers are : Deutsche Bank AG
Sort Code :
Financial Analysis
Account Type : Group Accounts
Scale : Millions
Profit & Loss Extracts
No. of Months : 12 12 12 12
Period Ending : 31/12/1997 31/12/1996 31/12/1995 31/12/1994
Consolidated : Yes Yes Yes Yes
Turnover 2293.10 2186.00 1830.40 1550.10
Interest Paid 39.70 32.10 28.20 19.00
Exports 1632.60 1447.50 1143.10 924.90
Dividends 112.40 102.70 91.80 57.00
Directors Fees 2.82 2.72 3.58 2.47
Wages 510.10 507.70 462.30 383.00
Profit Before Tax 128.60 356.80 365.10 297.80
Profit After Tax 40.00 248.20 272.30 223.50
Balance Sheet Extracts
No. of Months : 12 12 12 12
Period Ending : 31/12/1997 31/12/1996 31/12/1995 31/12/1994
Tangible Fixed Assets 506.00 484.00 530.10 542.70
Intangible Assets N/K N/K N/K 0.00
Investments 337.90 424.60 395.50 710.70
Total Fixed Assets 843.90 908.60 925.60 1253.40
Stock 379.30 360.70 289.90 253.20
Trade Debtors 557.70 382.30 408.70 337.40
Cash & Equivalent 214.80 299.00 672.00 366.70
Inter Company Balances N/K N/K N/K 0.00
Total Current Assets 1409.00 1337.40 1642.20 1145.20
Total Assets 2252.90 2246.00 2567.80 2398.60
Trade Creditors 272.90 288.20 222.60 201.70
Overdrafts N/K N/K N/K 0.00
ShortTerm Loans 0.40 0.80 1.50 1.70
Inter Company Balances N/K N/K N/K 0.00
Total Current Liabilities 1231.50 1094.00 1087.70 735.30
Net Current Assets 177.50 243.40 554.50 409.90
Long Term Borrowings 0.30 0.60 1.10 2.00
Other L.T. Liabilities 868.60 762.80 645.80 625.20
Total L.T. Liabilities 868.90 763.40 646.90 627.20
Paid Up Equity 144.20 142.80 139.10 138.20
Reserves 8.30 245.80 694.10 897.90
Shareholders Funds 152.50 388.60 833.20 1036.10
Credit Limit 20.00 20.00 N/K N/K
Number of Employees 18,306 19,947 16,008 17,215
Auditors
Auditors are : Price Waterhouse
Town : LONDON
Auditors Renumeration : 1600000
Auditors Comment on the latest Balance Sheet : Auditors Qualified Accounts ? no
Extended Company Ratio Analysis
Figures Stated in : Millions Key Ratios ---------- No. of Months : 12 12 12 12 Period Ending : 31/12/1997 31/12/1996 31/12/1995 31/12/1994 Profit Margin 5.61 16.32 19.95 19.21 Profit/Capital Employed 84.33 91.82 43.82 28.74 Profit/Assets 5.71 15.89 14.22 12.42 Current Debt 8.08 2.82 1.31 0.71 Total Debt 13.77 4.78 2.08 1.32 Long Term Debt 0.85 0.66 0.44 0.38 Current Ratio 1.14 1.22 1.51 1.56 Liquidity Ratio 0.84 0.89 1.24 1.21 Stock/Turnover 6.05 6.06 6.31 6.12 Collection Period 88.77 63.83 81.50 79.45 Creditors Days 43.44 48.12 44.39 47.49 Gearing (%) -140.39 -76.58 -80.34 -35.04 Interest Coverage 99.25 12.93 10.36 8.50 Credit Gearing 13.11 5.15 Indicator Ratio 10.47 10.98
Analyst Report
The Company's latest filed accounts are for the year ended 31/12/1997. Figures are taken from consolidated accounts. During the period the company increased its issued share capital from #142.80m to #144.20m. During the year Pearson acquired All American Communications Inc in the USA for a consideration of #246.50m (November 1997) and disposed of its 10% interest in Television Broadcasts Ltd for #110.80m; its 44.1% interest in Troll Communications LLC for #45.50m; and Churchill Livingstone, the medical publisher, for #54.20m. In April 1997, Pearson exchanged its minority interests in UK Gold and UK Living, two satellite TV channels, for 8.8m shares in Flextech plc. On 26/06/1997 4m of those shares were sold for #23.90m. Turnover has increased from #2.19bn to #2.29bn over the past year. Turnover includes #27.60m attributable to acquisitions. Turnover of #2.19bn in the previous year included turnover of #137.10m attributable to acquisitions. Other operating income for the year was #71.60m. There are exceptional charges of #34.40m. (restructuring costs). Pre-tax profit in the previous year was stated after exceptional charges of #140.40m. Net income from partnerships and associated undertakings amounted to #41.80m (1996: #53.10m). Pre-tax profit is stated after crediting profit on sale of fixed assets of #23.00m. Pre-tax profit has fallen from #356.80m to #128.60m. Proposed and paid dividends total #112.40m. Investments listed under fixed assets are #337.90m. (partnerships and associated undertakings of #197.90m and other investments of #140.00m). The company's liquidity appears to be healthy, with net current assets of #177.50m. (Previous accounts show net current assets of #243.40m). Cash and liquid resources total #214.80m (cash, bank current accounts and overnight deposits of #143.70m, certificates of deposit and commercial paper of #43.80m and term bank deposits of #27.30m). Current asset investments total #7.90m. Current assets include amounts due from partnerships and associated undertakings of #16.60m and amounts due after 1 year of #37.70m.Work in progress is valued at #88.70m. Payments received on account total #400000. Current liabilities include dividends payable of #69.40m. Finance lease commitments total #700000 of which #400000 is current. Total liabilities include borrowing amounting to #921.90m of which #313.10m is current. Total borrowing of #921.90m comprises secured bank loans and overdrafts of #300000, unsecured 10.5% Euro-sterling bonds 2008 of #100m, unsecured 9.5% Euro-sterling bonds 2004 of #117.30m, unsecured 10.75% Euro-sterling bonds 2002 of #100m, other unsecured borrowings of #7.90m, and unsecured bank loans and overdrafts, commercial paper and medium term notes of #596.40m. Long term liabilities include trade creditors of #19.40m, unspecified other creditors of #5.50m and accruals and deferred income of #19.60m.Provisions for liabilities and charges total #211.80m. (deferred taxation of #37.20m, post-retitement provisions of #34.00m and other provisions of #140.60m).Minority interests stand at #3.50m. Capital and reserves of #152.50m include accumulated losses of #153.60m. Goodwill arising during the year of #401.50m was written off against the profit and loss account reserve and goodwill written back of #232.90m was added to the reserve. (The cumulative net goodwill written off is #2.16bn).The Company's share premium account stands at #157.60m. (1996: #129.50m).The revaluation reserve stands at #3.10m (previous year #5.40m). Other reserves total #1.20m. On 25/09/1997 Pearson announced a strategic alliance between its subsidiary, Recoletos Compania Editorial SA (Recoletos) and Telefonica de Espana SA (Telefonica), the Spanish telecommunications group. Telefonica will pay #90m to subscribe for a 20% stake in Recoletos, who will then invest #45m of the proceeds to subscribe for a 10% stake in Antena 3, a commercial television channel in Spain. The transaction is expected to close on 16/03/1998. On 09/02/1998 Pearson sold its 6.3% shareholding in Societe Europeenne des Satellites SA for #159.50m. The sale was made cum dividend and consequently #4.20m will be included in operating profit, leaving a profit of #132.20m before tax, estimated at around #25m. On 02/03/1998 Pearson sold its specialist law and tax publishing businesses for #70m, giving rise to a profit of #61m before tax, estimated at #14m. Of the #70m consideration, #19.50m relates to the sale of the Federal Publications business which is conditional on Hart-Scott-Rodino clearance in the USA. On 06/03/1998 Pearson announced that it is to sell Mindscape Inc, the consumer software publisher, for #91m giving rise to an estimated loss on sale of #212m. This is also conditional on Hart-Scott-Rodino clearance in the USA.On the basis of these accounts: We would suggest setting a credit limit on monthly terms of #20m. All contracts may be considered. Immediate U.K. subsidiaries include: Financial Times Group Ltd, Pearson Television Ltd and The Tussauds Group Ltd.Pearson,yesterday reinforced its position in the leisure market after its Tussauds Group subsidiary signed a conditional contract to buy Thorpe Park,the Surrey Theme Park,from RMC Group,the building materials concern.It is expected to pay #15m-#20m for Thorpe Park(FT 13.06.98) The company is to sell its 40.5% stake in Port Aventura S.A., the Spanish Team Park , for 10.25billion pesetas (#40.00m). (RNS 22.06.98) Pearson,has agreed to sell parts of the Simon & Schuster publishing group to Hicks,Muse ,Tate & Furst,the US venture capital group,in a smaller deal than had been expected.Pearson ,which in May agreed to buy most of Simon & Schuster from Viacom,fo $4.6bn(#2.7bn) is to sell on the reference and business and professional divisions to Hicks Muse for $860m if the acquisition proceeds.Pearson's shares rose 2p to #11.17.(FT 04.07.98) Pearson Television, a subsidiary of Pearson plc has taken a stake in a new digital TV company. Pearson is investing in the Digitial Broadcasting Company, a film service for digital television which was set up by a former finance director of British Sky Broadcasting, the U.K. based pay-TV group. DBC will broadcast films on a pay-per-view basis and plans to launch early next year. Pearson has bought a 12.3% stake for an undisclosed sum. (FT 21.07.98) .Pearson,is not likely to achieve an early sale of its stake in Lazards,despite efforts to narrow its focus,it indicated yesterday.Pearson's shares rose rose by 6.5% to close 80p up at #12.Operating profits from continuing operations rose by 29% from #82.9m to #107.3m.(FT 04.08.98) At an EGM on 31/07/1998 co's shareholders approved the acquisition of the Children's Learning and Higher education, Business and Professional and Reference Publishing Division of Simon & Schuster. The acquisition remains conditional on the expiration of early termination of the waiting period under US Hart-Scott-Rodino anti-trust legislation and on certain other regulatory approvals. Co has instructed Cazenove and Co and Goldman Sachs International as its agents to procure subscribers for 28.88m new ordinary shares of 25p each in Pearson. Trading in the shares is expected to occur on 1/08/1998. Pearson Plc is diposing of the UK Register Group for #12m. The disposal involves the sale of Shots and RIS to EMAP Plc and the Register business itself to Xtreme Information Ltd. (RNS 19/08/1998) The company has sold its remaining stake in Flexitech, the pay television company. The company sold 4.8m shares at 575p a share through Merril Lynch, raising #27.6m. The sale was part of Pearson's policy of selling minority stakes in companies. The company is currently working on the sale of a stake in British Sky Broadcasting. (FT 25.08.98)Pearson Plc,has sold its 20% stake in the Canadian Financial Post to Southam Inc,for 34.25m Canadian dollars,(RNS 07.09.98)Co has sold The Tassauds Group to a private equity fund managed by Charterhouse Development Capital for #352m including repayment of debt.(RNS 19/10/98) Co is understood to have enough finance to complete the $4.6bn (#2.7m) purchase of American publisher Simon & Schuste on its own, in case bid partner Hicks Muse Tate & Furst fails to finance its side of the deal. (DT 19/10/1998) Pearson Television will today announce that it has bought its first production company in Italy. The co has bought Mastrofilm for about #3m. (Times 04/11/1998) Pearson plc has announced that the US Department of Justice has cleared Pearson's $4.6bn acquisition of the Simon and Schuster education, reference and business and professional publishing businesses from Viacom Inc. Pearson expected to complete the transaction on 27.11.98 and will merge the Simon & Schuster education business with Addison Wesley Longman to create Pearson Education, the world's leading educational publisher. After an extensive review of the transaction by the Department of Justice, Pearson has agreed to sell certain overlapping products resulting from the merger of the two businesses. Pearson will sell 55 out of a total of 35,000 higher education titles and Simon & Schuster's elementary science programme. The sale process will begin immediately. (RNS 24.11.98) Co is taking legal advice after the collapse yesterday of its $860m (#512) deal to sell 2 publishing businesses to the US private equity firm Hicks, Muse, Tate and Furst. Co said it would keep the reference and professional publishing operations of the US co Simon & Schuster which it had intended to sell to Hicks Muse as part of a deal with Viacom. Analysts estimate that the co can keep its year end debt to about #3.5bn following the sale of the sale of Tussauds and the likely sale of the #350m stake in BSkyB. (FT 24/11/1998)Co has completed the acquisition of the Simon & Schuster education, reference and business and professional divisions from Viacom Inc for $4.6bn.(RNS 30/11/98) Co is taking a 10.9% stake in E-Pub Holdings, a leading US based online entertainment company. Under the agreement, the 2 companies will develop online versions of several of Pearson's most famous game shows. The initial agreement is for 2 years. (RNS 13/01/1999) Co is negotiating to buy the overseas rights to the latest ITV hit show, who wants to be a millionaire?, so that it can try to replicate the show's success around the world. (Times 14/01/1999) Co is seeking buyers for a number of business and reference titles that it acquired as part of the educational and specialist publishing arm of Simon & Schuster. These include Appleton lange, a medical publisher, and Josey Bass, which publishes health and education titles. Co is thought to be seeking between $300m and $400m for the businesses , which had combined sales of about $250m last year. (FT 23-24/01/1999) The company is expected this week to sell a financial data operation to Primark, the US group, for between #15m and #20m. The deal involves the research products arm of its Extel subsidiary. (FT 13.02.99) Having reviewed and analysed the latest information available: We would suggest setting a credit limit on monthly terms of 20,000,000
Liquidator/Receiver/Adverse Information
NO GAZETTE INFORMATION
Credit Information
CCJ's Registered ------------------------------------------------------------------------------ Information concerning County Court Judgements is provided in good faith; however we do not accept responsibility for the accuracy thereof ------------------------------------------------------------------------------ Exact Matches ============= Court Date & Amount of Judgement Status Date Settled LLANELLI 23 Sep 1997 927.00 Judgement Case No. JV733437 Probable Matches ================ This information is supplied as a result of a search of publicly recorded information. Any variation in style or address must be noted. The circumstances relating to the records shown were not identified during the investigation. AYLESBURY 2 Aug 1995 454.00 Judgement Case No. JV528076 Name : PEARSON PLC Address: LONDON, EC4P4ER ------------------------------------------------------------------------------ Gazette Information: N/A Payment Profiles : Creditor Days: Sector Average : 36.26 Days PEARSON PLC : 43.44 Days Liquidity Ratio: Sector Average : 0.93 PEARSON PLC : 0.84 Vital Signs : Turnover increased by : 4.9 % Pre Tax Profit decreased by : 64.0 % Gearing decreased by : 83.3 % Working Capital decreased by : 27.1 % Monthly Trade Credit Limit : 20,000,000
Industry Averages
Industry Type : 53 Publishing & Printing No. of companies : 25187 Last Updated : 01/02/1999 Industry Comparison/Average Latest Previous Previous Previous Scale M M M M Turnover 4.53 4.50 4.80 4.56 Profit Before Tax 2.01 0.42 0.65 0.65 Debtors 0.74 0.70 0.75 0.73 Total Assets 5.26 4.96 17.00 4.61 Shareholders Funds 1.47 1.41 12.82 1.42 Profit Margin (%) 44.37 9.33 13.54 14.25 Liquidity Ratio 0.93 0.93 4.56 0.84 Collection Period 59.62 56.78 57.03 58.43 Stock/Turnover 12.58 12.86 12.63 7.86 Creditors Days 36.26 37.31 38.02 38.42 Solvency Ratio (%) 27.95 28.43 75.41 30.80 Gearing (%) 97.28 84.40 10.53 76.06
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