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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fund-E Inv | LSE:FEI | London | Ordinary Share | GB0002910312 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.02 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Fundamental E Investments Plc (the "Group" or "FundamentalE") Interim Results for the Six Months Ended 31 March 2007 CHAIRMAN'S STATEMENT The Group's current business activity is to develop its wholly owned property site in Kilsyth. The tenant on our Kilsyth site vacated the premises at the end of April 2007 which has now allowed the site development to move forward. Up until the end of April 2007 the Group continued to receive rental income from the purchasers of the Wilson & Garden business from their occupation of the Kilsyth site. It is planned that the demolition of the current buildings on the site be started in July 2007 and that construction work be commenced in October 2007. It will be pleasing to see this development start and see the profit potential of the site realised in what is an appreciating Scottish property market. Using the considerable property expertise within the board other property opportunities are being considered and if found to offer good returns will be pursued. We continue to work hard to find opportunities to create shareholder value and continue to be positive that suitable value creating opportunities will be found. Financial Results The operating loss before taxation for the six months to 31 March 2007 was £ 20,000 (2006 - £28,000). Turnover was £90,000 (2006 - £551,000). Loss per share is 0.002p (2006 - 0.003p), no interim dividend can be paid. As at 31 March 2007 the Group had cash resources of £156,000 (as at 31 March 2006 - £128,000). The Group also had bank loans totalling £681,000 (2006 - £ 450,000). Stephen Thomson Chairman 29 June 2007 Consolidated Profit & Loss Account Unaudited Unaudited half year half year Audited year ended ended ended 31 March 31 March 30 September 2007 2006 2006 £'000 £'000 £'000 Turnover 90 551 677 Cost of Sales - 351 (333) Gross Profit 90 200 344 Net Operating Expenses Distribution costs - (59) (20) Administrative expenses (87) (390) (511) Operating Profit/(Loss) 3 (249) (187) Exceptional Items - 241 287 Interest payable (23) (20) (49) Profit(Loss)on ordinary activities (20) (28) 51 before tax Tax - - - Profit(Loss)on ordinary activities (20) (28) 51 after tax Profit(Loss) per share (0.002)p (0.003)p 0.005p Consolidated Balance Sheet Unaudited Unaudited half year half year Audited year ended ended ended 31 March 31 March 30 September 2007 2006 2006 £'000 £'000 £'000 Fixed Assets Tangible assets 888 597 664 Current Assets Stocks - 18 - Trade debtors - 110 - Other debtors 103 54 149 Cash at bank 156 128 180 Creditors less than 1 year (929) (327) (755) Net Current Liabilities (670) (17) (426) Total Assets less Current Liabilities 218 580 238 Creditors greater than 1 year - (525) - Other Provisions - (26) - 218 29 238 Capital and Reserves Share Capital 3,714 3,619 3,714 Profit and loss account (14,289) (14,302) (14,269) Share premium 9,997 9,962 9,997 Merger Reserve 750 750 750 Other Reserves 46 - 46 218 29 238 Consolidated Cashflow statement Unaudited Unaudited half year half year Audited year ended ended ended 31 March 31 March 30 September 2007 2006 2006 £'000 £'000 £'000 Net Cash inflow/(outflow) from operating activities 15 (388) (287) Net Cash outflow from returns on investments and servicing of finance (23) (20) (49) Taxation - - - Net Cash outflow in respect of capital (224) (64) (84) items Net Cash outflow from acquisitions and disposals - (33) - Cash outflow before financing (232) (505) (420) Cash inflow from financing - 442 130 Decrease in cash (232) (63) (290) NOTES TO THE FINANCIAL STATEMENTS 1. Basis of preparation The consolidated interim financial statements are unaudited and do not constitute accounts within the meaning of section 240 of the Companies Act 1985. The statements have been prepared using accounting policies and presentation consistent with those applied in the audited accounts for the year ended 30 September 2006. In respect FRS20, Accounting for Share Options, the application of which is obligatory for the six months ended 31 March 2007, there were no share option awards which had not vested prior to the 1 October 2006 and as such no accounting entries are required relating to FRS20 for that period. In this respect the Company wishes to record that the share option award made to Michael Hill on 7 September 2007, previously announced in error as vesting six months after the date of the award, vested immediately at the date of the award. The summarised balance sheet at 30 September 2006 and the summarised profit and loss account, summarised cash flow statement and associated notes for that year then ended have been extracted from the Group's 2006 statutory financial statements upon which the auditors' opinion is qualified on the basis of the limitation in scope. This arises from the lack of availability of accounting records for the businesses and subsidiaries disposed by the group during the year and preceding year. Those financial statements have not yet been delivered to the registrar of companies. 2. Taxation There is no provision for corporation tax for the half year, on the basis that no liability will arise for the 6 months to 31 March 2007. 3. Earnings per share Unaudited Unaudited Audited year half year ended half year ended ended 30 31 March 2007 31 March 2006 September 2006 £'000 £'000 £'000 Profit(Loss) for the financial period (20) (28) 51 Weighted average number of shares 1,090 million 961 million 1,007 million 4. Dividend The directors cannot recommend payment of a dividend for the six months ended 31 March 2007. Contact details: Liam Murray City Financial Associates 020 7090 7800 Limited Nominated Adviser END
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