We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pinnacle | LSE:PCL | London | Ordinary Share | GB00B1899T70 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.875 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMPCL
RNS Number : 9234S
Pinnacle Staffing Group PLC
20 September 2010
Pinnacle Staffing Group plc
("Pinnacle" or "the Company")
Half year results for the six months ended 4 July 2010
Pinnacle Staffing Group plc, (AIM: PCL) the healthcare recruitment group
announces its half year results for the period ending 4 July 2010.
Key Points
Turnover from continuing operations was GBP4million (2009: GBP1.7million)
Loss from continuing operations of GBP808,000 (2009: GBP929,000)
Pre-tax loss of GBP5,688,000 (2009: GBP137,000)
Agency Nursing and Medical Services Businesses were sold after the period end
and are treated as discontinued operations
Focus on growing the Doctors recruitment businesses
Company now cash positive with no bank borrowings
Chairman's Statement
The first half of the year has been devoted to searching for a buyer for the
Company at a time of deteriorating financial performance. In the time available,
no offer for the Company which could be put to shareholders was forthcoming.
Subsequently the Board decided to sell the Agency Nursing and Medical Services
businesses to Arabella Health Staffing Limited for GBP2.75 million. The disposal
was completed on 6th September 2010 and the sale proceeds were used towards
repaying the invoice discounting facility and reducing the outstanding current
liabilities. The Company still owns the sales ledger relating to work done by
the sold businesses up to the date of completion and good progress is being made
in collecting the amounts outstanding. As of 17th September 2010 the Company
held net cash of approximately GBP500k.
The Agency Nursing and Medical Services Businesses are being treated in these
accounts as discontinued businesses. Generally their performance was
unsatisfactory in the period although several of the British Nursing Association
("BNA") branches did report significant improvements in the commission they
generated. Since the beginning of April 2010, corresponding to the start of the
new financial year for NHS organisations, the market background has become more
difficult with shifts being booked with substantially reduced advance notice.
This impacted on BNA's ability to fill the shifts being offered with its
available workers. Regional NHS budget restrictions resulted in poor
performances by the Company's specialist nursing brands, Mayfair and Grosvenor
and also by the Medic International allied health professionals business .
The discontinued businesses made a loss of GBP0.2million before an impairment
charge relating to goodwill of GBP3.2million and a provision for onerous
contracts of GBP1.5million.
In the continuing businesses, Doctors recruitment which trades as Medic
International and Holt Doctors saw a 14% rise in turnover from the six month
period ended 3 January 2010 and this business continues to grow steadily.
International Nursing Permanent Placements made a small positive contribution.
Outlook
The doctors businesses are maintaining a steady growth rate and are currently
planning the next stage of their expansion. We will look for suitable bolt-on
opportunities for both the doctors businesses and our compliance monitoring
activities.
There remains much to be done to minimise the ongoing commitments and
obligations relating to the discontinued businesses however this will be a key
focus over the next few months as we seek to maintain the value within the
Company.
Tom Charlton
Executive Chairman
17 September 2010
For further information contact:
Pinnacle Staffing Group plc
Tom Charlton, Executive Chairman
01582 395900
David Hope, Chief Operating Officer and Finance Director
Brewin Dolphin Limited
Matt Davis
0845 270 8600
Group Statement of Comprehensive Income
for the period ended 4th July 2010
+-------------------------------------+----+---+---+-----------+-----------+----------+
| | | | Unaudited | Unaudited | Audited |
| | | | 6 months | 6 months | 52 |
| | | | ended | ended | weeks |
| | | | 04/07/10 | 05/07/09 | ended |
| | | | | | 03/01/10 |
+-------------------------------------+----+-------+-----------+-----------+----------+
| | |Notes | GBP000 | GBP000 | GBP000 |
+-------------------------------------+----+-------+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+----+-------+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Revenue | | 2 | 3,951 | 1,660 | 5,137 |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Cost of sales | | | (3,111) | (1,276) | (4,025) |
+-------------------------------------+----+-------+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Gross profit | | | 840 | 384 | 1,112 |
+-------------------------------------+----+-------+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Marketing and sales | | | (655) | (366) | (924) |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Administrative expenses | | | (964) | (1,166) | (2,037) |
+-------------------------------------+----+-------+-----------+-----------+----------+
| Impairment of goodwill and | | | - | - | (730) |
| intangible assets | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Negative goodwill | | | - | 288 | 285 |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Operating loss | | | (779) | (860) | (2,294) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Finance income | | | - | 12 | - |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Finance expense | | | (29) | (95) | (180) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Loss before taxation | | | (808) | (943) | (2,474) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Tax credit/(expense) | | 3 | - | 14 | (32) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Loss for the period from continuing | | | (808) | (929) | (2,506) |
| operations | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| (Loss)/profit for the period from | 6 | (4,880) | 806 | 1,209 |
| discontinued operations | | | | |
+----------------------------------------------+---+-----------+-----------+----------+
| Loss for the period | | | (5,688) | (123) | (1,297) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Other comprehensive income | | | - | - | - |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Total comprehensive loss for the | | | (5,688) | (123) | (1,297) |
| period | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Attributable to: | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Equity holders of the company | | | (5,631) | (123) | (1,249) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Minority interest | | | (57) | - | (48) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | (5,688) | (123) | (1,297) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Analysis: | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| EBITDA - continuing operations | | | (622) | (943) | (1,484) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Depreciation of property, plant and | | | (96) | (182) | (282) |
| equipment | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Amortisation of intangible assets | | | (61) | (23) | (83) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Impairment of goodwill and | | | - | - | (730) |
| intangible assets | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Negative goodwill | | | - | 288 | 285 |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Operating loss | | | (779) | (860) | (2,294) |
+-------------------------------------+--------+---+-----------+-----------+----------+
| | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| (Loss)/earnings per 10p share | | | | | |
+-------------------------------------+--------+---+-----------+-----------+----------+
| Basic and diluted loss per share from | | 5 | (0.81p) | (1.05p) | (2.71p) |
| continuing operations | | | | | |
+------------------------------------------+---+---+-----------+-----------+----------+
| Basic and diluted (loss)/earnings per | | 5 | (5.27p) | 0.91p | 1.33p |
| share from discontinued operations | | | | | |
+------------------------------------------+---+---+-----------+-----------+----------+
| Basic and diluted loss per share - | | 5 | (6.08p) | (0.14p) | (1.38p) |
| total | | | | | |
+-------------------------------------+----+---+---+-----------+-----------+----------+
Group Statement of Financial Position
As at 4th July 2010
+-----------------+-----+--------------------+-------+------------+-----------+----------+-------+--------+
| | | | | Unaudited6 | Unaudited | Audited | |
| | | | | months | 6 months | 52 | |
| | | | | ended | ended | weeks | |
| | | | | 04/07/10 | 05/07/09 | ended | |
| | | | | | | 03/01/10 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| | | | Notes | GBP000 | GBP000 | GBP000 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Assets | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Non-current | | | | | | | |
| assets | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Goodwill | | | 9 | 1,080 | 5,416 | 4,552 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Intangible assets | | 8 | 732 | 3,224 | 3,100 | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| Property, plant and | | | 391 | 555 | 541 | |
| equipment | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| Deferred income tax | | | - | 63 | - | |
| assets | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total non-current | | | 2,203 | 9,258 | 8,193 | |
| assets | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Current assets | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Inventories | | | 10 | - | 14 | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| Trade and other | | | 5,563 | 6,818 | 5,810 | |
| receivables | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| Cash and cash | | | 91 | 64 | 114 | |
| equivalents | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total current | | | | 5,664 | 6,882 | 5,938 | |
| assets | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Non current assets classified as held for | 6 | 2,534 | - | - | |
| sale | | | | | |
+--------------------------------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total assets | | | | 10,401 | 16,140 | 14,131 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Equity | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Ordinary shares | | | 4 | 9,263 | 9,263 | 9,263 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Share premium | | | 4 | 7,408 | 7,408 | 7,408 | |
| account | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Share payment reserve | | | - | 11 | - | | |
+-----------------------+--------------------+-------+------------+-----------+----------+-------+--------+
| Retained losses | | | (14,701) | (7,955) | (9,070) | | |
+-----------------------+--------------------+-------+------------+-----------+----------+-------+--------+
| | | | | 1,970 | 8,727 | 7,601 | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Minority interest in equity | | (105) | - | (48) | |
+--------------------------------------------+-------+------------+-----------+----------+----------------+
| Total equity | | | 1,865 | 8,727 | 7,553 | | |
+-----------------------+--------------------+-------+------------+-----------+----------+-------+--------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Non-current | | | | | | | |
| liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Provision for onerous contracts | 7 | 1,316 | - | - | |
+--------------------------------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total non-current liabilities | | 1,316 | - | - | |
+--------------------------------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Current | | | | | | | |
| liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Trade and other | | | 4,907 | 4,713 | 4,312 | | |
| payables | | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+-------+--------+
| Financial | | | | | | | |
| liabilities: | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| - Borrowings | | | | 2,140 | 2,580 | 2,234 | |
| - loans | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Provision for | | | | 23 | 120 | 32 | |
| liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Provision for onerous | | 7 | 150 | - | - | |
| contracts | | | | | | |
+-----------------------+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total current | | | | 7,220 | 7,413 | 6,578 | |
| liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total liabilities | | 8,536 | 7,413 | 6,578 | | |
+--------------------------------------------+-------+------------+-----------+----------+-------+--------+
| | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+----------------+
| Total equity and | | | 10,401 | 16,140 | 14,131 | | |
| liabilities | | | | | | | |
+-----------------+-----+--------------------+-------+------------+-----------+----------+-------+--------+
Group Statement of Changes in Equity
for the period ended 4th July 2010
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| | | | | | | | |
| | | | Share | | | | |
| | Share | Share | payment | Retained | | Minority | Total |
| | capital | premium | reserve | losses | Total | interest | equity |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| 6 months to 4th | | | | | | | |
| July 2010 | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Balance at 4th | 9,263 | 7,408 | - | (9,070) | 7,601 | (48) | 7,553 |
| January 2010 | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Total | - | - | - | (5,631) | (5,631) | (57) | (5,688) |
| comprehensive | | | | | | | |
| loss for the | | | | | | | |
| period | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Balance at 4th | 9,263 | 7,408 | - | (14,701) | 1,970 | (105) | 1,865 |
| July 2010 | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| | | | | | | | |
| | | | Share | | | | |
| | Share | Share | payment | Retained | | Minority | Total |
| | capital | premium | reserve | losses | Total | interest | equity |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| 6 months to 5th | | | | | | | |
| July 2009 | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Balance at 5th | 8,763 | 7,408 | 11 | (7,532) | 8,650 | - | 8,650 |
| January 2009 | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Shares issued | 200 | - | - | - | 200 | - | 200 |
| during the period | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Reserves transfer | 300 | - | - | (300) | - | - | - |
| in respect of | | | | | | | |
| shares issued at | | | | | | | |
| below par value | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Transactions with | 9,263 | 7,408 | 11 | (7,832) | 8,850 | - | 8,850 |
| owners | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Total | - | - | - | (123) | (123) | - | (123) |
| comprehensive | | | | | | | |
| loss for the | | | | | | | |
| period | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
| Balance at 5th | 9,263 | 7,408 | 11 | (7,955) | 8,727 | - | 8,727 |
| July 2009 | | | | | | | |
+-------------------+---------+---------+---------+----------+--------+----------+--------+
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| | | | | | | | |
| | | | Share | | | | |
| | Share | Share | payment | Retained | | Minority | Total |
| | capital | premium | reserve | losses | Total | interest | equity |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| 52 weeks to 3rd January | | | | | | |
| 2010 | | | | | | |
+-----------------------------+---------+---------+----------+---------+----------+---------+
| Balance at 5th | 8,763 | 7,408 | 11 | (7,532) | 8,650 | - | 8,650 |
| January 2009 | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Shares issued | 200 | - | - | - | 200 | - | 200 |
| during the period | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Reserves transfer | 300 | - | - | (300) | - | - | - |
| in respect of | | | | | | | |
| shares issued at | | | | | | | |
| below par value | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Share payment | - | - | (11) | 11 | - | - | - |
| reserve transfer | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Transactions with | 9,263 | 7,408 | - | (7,821) | 8,850 | - | 8,850 |
| owners | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Total | - | - | - | (1,249) | (1,249) | (48) | (1,297) |
| comprehensive | | | | | | | |
| loss for the year | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
| Balance at 3rd | 9,263 | 7,408 | - | (9,070) | 7,601 | (48) | 7,553 |
| January 2010 | | | | | | | |
+-------------------+---------+---------+---------+----------+---------+----------+---------+
Group Statement of Cash Flows
for the period ended 4th July 2010
+------------------+-----+--------+------+------+----------+----------------+-----------+----------+
| | | | | | |
+------------------+-----+--------+-------------+---------------------------+----------------------+
| | | | | | | | |
| | | | | | Unaudited | Unaudited | Audited |
| | | | | | 6 months | 6 months | 52 |
| | | | | | ended | ended | weeks |
| | | | | | 04/07/10 | 05/07/09 | ended |
| | | | | | | | 03/01/10 |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| | | | | | GBP000 | GBP000 | GBP000 |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Operating | | | | | | | |
| activities | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Cash generated from/(used in) | | | 213 | (83) | 511 |
| operations | | | | | |
+---------------------------------+-------------+----------+----------------+-----------+----------+
| Interest paid | | | | | (127) | (105) | (181) |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Interest received | | - | 22 | - |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Income taxes received | | 15 | 67 | 67 |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Net cash generated from/(used in) operating | | 101 | (99) | 397 |
| activities | | | | |
+-----------------------------------------------+----------+----------------+-----------+----------+
| | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Investing | | | | | | | |
| activities | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Purchase of intangible assets | | (2) | (7) | (13) |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Purchase of tangible assets | | (28) | (207) | (298) |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Purchase of subsidiary undertakings | | - | (12) | (15) |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Net cash used in investing activities | | (30) | (226) | (326) |
+-----------------------------------------------+----------+----------------+-----------+----------+
| | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Financing | | | | | | | |
| activities | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| (Decrease)/increase in loans from banks | | (94) | 305 | (41) |
+-----------------------------------------------+----------+----------------+-----------+----------+
| Net cash (used in)/generated from financing | | (94) | 305 | (41) |
| activities | | | | |
+-----------------------------------------------+----------+----------------+-----------+----------+
| | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Net (decrease)/increase in cash and cash | | (23) | (20) | 30 |
| equivalents | | | | |
+-----------------------------------------------+----------+----------------+-----------+----------+
| | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| | | | | | | | |
+------------------+-----+--------+-------------+----------+----------------+-----------+----------+
| Cash and cash equivalents at beginning of the period | 114 | 84 | 84 |
+----------------------------------------------------------+----------------+-----------+----------+
| Net (decrease)/increase in cash and cash equivalents | (23) | (20) | 30 |
+----------------------------------------------------------+----------------+-----------+----------+
| Cash and cash equivalents at end of | | 91 | 64 | 114 |
| the period | | | | |
+----------------------------------------+-----------------+----------------+-----------+----------+
| | | | | | | | | |
+------------------+-----+--------+------+------+----------+----------------+-----------+----------+
+----------------+-----+----------+----+----------+----------+----------+---+-------------+-----------+-----------+-------------+
| | | | |
| | | | |
| Notes to the statement of cash flows | | | |
+------------------------------------------------------------+--------------+-------------+-------------------------------------+
| | | | | | |
+----------------+----------------+--------------------------+--------------+-------------+-------------------------------------+
| | | | | | Unaudited | Unaudited | Audited |
| | | | | | 6 months | 6 months | 52 weeks |
| | | | | | ended | ended | ended |
| | | | | | 04/07/10 | 05/07/09 | 03/01/10 |
| | | | | | GBP000 | GBP000 | GBP000 |
+----------------+----------------+--------------------------+--------------+-------------+-----------+-----------+-------------+
| Reconciliation of (loss)/profit to cash generated from/(used in) operations |
+-------------------------------------------------------------------------------------------------------------------------------+
| Operating loss from continuing operations | (779) | (860) | (2,294) |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Operating (loss)/profit from discontinued operations | (4,782) | 806 | 1,205 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| | | | | | |
+--------------------------------------+----------+----------+----------+-----------------+-------------------------------------+
| Adjustments for non-cash items: | | | | | | | |
+--------------------------------------+----------+----------+----------+-----------------+-----------+-----------+-------------+
| | | | |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Impairment of goodwill and other intangibles | 3,243 | - | 864 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Depreciation of property, plant and equipment | 113 | 185 | 289 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Amortisation of intangible assets | | | 130 | 92 | 222 |
+------------------------------------------------------------+----------+-----------------+-----------+-----------+-------------+
| Negative goodwill | | | | | - | (288) | (285) |
+----------------------+----------+--------------------------+----------+-----------------+-----------+-----------+-------------+
| Loss on sale of property, plant and equipment | - | - | 1 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| | | | | | |
+----------------------+----------+--------------------------+----------+-----------------+-------------------------------------+
| Changes in working | | | | | |
| capital: | | | | | |
+----------------------+----------+--------------------------+----------+-----------------+-------------------------------------+
| Increase/(decrease) in provisions | | 1,457 | (4) | (92) |
+-----------------------------------------------------------------------+-----------------+-----------+-----------+-------------+
| Decrease/(increase) in trade and other receivables | 232 | (1,065) | (37) |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Increase in trade and other payables | 595 | 1,051 | 652 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| Decrease/(increase) in inventories | 4 | - | (14) |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| | | | | | |
+----------------+----------------+--------------------------+----------+-----------------+-------------------------------------+
| Cash generated from/(used in) operations | 213 | (83) | 511 |
+-----------------------------------------------------------------------------------------+-----------+-----------+-------------+
| | | | | | |
+----------------+----------------+--------------------------+----------+-----------------+-------------------------------------+
| | | | | | | | |
+----------------+----------------+--------------------------+----------+-----------------+-----------+-----------+-------------+
| | | | | | |
+----------------+----------------+--------------------------+----------+-----------------+-------------------------------------+
| Reconciliation of net cash flow to movement in net debt | |
+-----------------------------------------------------------------------------------------+-------------------------------------+
| (Decrease)/increase in cash and cash equivalents | | (23) | (20) | 30 |
+---------------------------------------------------------------------------+-------------+-----------+-----------+-------------+
| Decrease/(increase)in loans from banks | | 94 | (305) | 41 |
+---------------------------------------------------------------------------+-------------+-----------+-----------+-------------+
| | | | | | 71 | (325) | 71 |
+----------------+---------------------+---------------------+--------------+-------------+-----------+-----------+-------------+
| Net debt at beginning of the period | | | | (2,120) | (2,191) | (2,191) |
+--------------------------------------+---------------------+--------------+-------------+-----------+-----------+-------------+
| Net debt at end of | | | | | (2,049) | (2,516) | (2,120) |
| the period | | | | | | | |
+----------------------+---------------+---------------------+--------------+-------------+-----------+-----------+-------------+
| | | | | | | | | | | | |
+----------------+-----+----------+----+----------+----------+----------+---+-------------+-----------+-----------+-------------+
+-+----+----+----+----+------------+-----------------+-------------+--------+
| | | |
| | | |
| 1. Basis of preparation | | |
+----------------------------------------------------+-------------+--------+
| | | | | | | | | |
+-+----+----+----+----+------------+-----------------+-------------+--------+
| Accounting preparation and policies |
+---------------------------------------------------------------------------+
| The half year results have been prepared under the historical cost |
| convention and are in accordance with the group's accounting policies set |
| out in the Annual Report and Accounts for the period ended 3rd January |
| 2010, which are available from the Company's registered office and on the |
| Group's website, www.pinnacle-staffing-group.co.uk. They have also been |
| prepared in accordance with the accounting policies the Group expects to |
| adopt in its 2010 annual report. |
+---------------------------------------------------------------------------+
| |
| The half year results for the six months ended 4th July 2010 are |
| unaudited. |
| |
| The financial information contained in this interim statement for the |
| half year ended 4th July 2010 has been prepared in accordance with IAS |
| 34, "Interim Financial Reporting" as adopted by the EU. It does not |
| constitute accounts as defined by section 434 of the Companies Act 2006. |
| The financial information for the period ended 3rd January 2010 has been |
| extracted from the statutory accounts which have been delivered to the |
| Registrar of Companies, and on which the auditors gave an unqualified |
| opinion. |
+---------------------------------------------------------------------------+
| | | | | | | | | |
+-+----+----+----+----+------------+-----------------+-------------+--------+
| |
| Estimates and judgements |
+---------------------------------------------------------------------------+
| The preparation of accounts in accordance with IFRS requires management |
| to make estimates and assumptions that affect the reported amounts of |
| assets and liabilities at the date of the accounts and the reported |
| amounts of revenues and expenses during the reported period. These |
| estimates are based on historical experience and various other |
| assumptions that management and directors believe are reasonable under |
| the circumstances, the results of which form the basis for making |
| judgements about the carrying value of assets and liabilities that are |
| not readily apparent from other sources. |
+---------------------------------------------------------------------------+
| | | | | | | | | |
+-+----+----+----+----+------------+-----------------+-------------+--------+
| Areas comprising critical judgements that may significantly affect the |
| Group's earnings and financial position are revenue collection, valuation |
| of intangibles including goodwill, restructuring activities, provisions |
| for pensions, income taxes, property related items and share-based |
| payments, all of which are discussed in the respective notes. |
+---------------------------------------------------------------------------+
| | | | | | | | | |
+-+----+----+----+----+------------+-----------------+-------------+--------+
+---------------------------------------------------------------------+
| |
| 2. Segmental information |
+---------------------------------------------------------------------+
| The operational analysis of revenue and operating loss is as |
| follows: |
+---------------------------------------------------------------------+
+----------------------------------+-------------+-----------+------------+
| | Unaudited | Unaudited | Audited |
| | 6 months | 6 months | 52 weeks |
| | ended | ended | ended |
| | 04/07/10 | 05/07/09 | 03/01/10 |
| | GBP000 | GBP000 | GBP000 |
+----------------------------------+-------------+-----------+------------+
| Revenue by business segment |
+-------------------------------------------------------------------------+
| | | | |
+----------------------------------+-------------+-----------+------------+
| Doctors | 3,884 | 1,660 | 5,124 |
+----------------------------------+-------------+-----------+------------+
| Other | 67 | - | 13 |
+----------------------------------+-------------+-----------+------------+
| Total | 3,951 | 1,660 | 5,137 |
+----------------------------------+-------------+-----------+------------+
| | | | |
+----------------------------------+-------------+-----------+------------+
| | Unaudited | Unaudited | Audited |
| | 6 months | 6 months | 52 weeks |
| | ended | ended | ended |
| | 04/07/10 | 05/07/09 | 03/01/10 |
| | GBP000 | GBP000 | GBP000 |
+----------------------------------+-------------+-----------+------------+
| EBITDA by business segment | | | |
+----------------------------------+-------------+-----------+------------+
| Doctors | 24 | (83) | (133) |
+----------------------------------+-------------+-----------+------------+
| Other | 6 | (49) | (97) |
+----------------------------------+-------------+-----------+------------+
| Unallocated central costs | (652) | (811) | (1,254) |
+----------------------------------+-------------+-----------+------------+
| Total EBITDA | (622) | (943) | (1,484) |
+----------------------------------+-------------+-----------+------------+
| Depreciation | (96) | (182) | (282) |
+----------------------------------+-------------+-----------+------------+
| Amortisation of intangible | (61) | (23) | (83) |
| assets | | | |
+----------------------------------+-------------+-----------+------------+
| Impairment of goodwill and | - | - | (730) |
| intangible assets | | | |
+----------------------------------+-------------+-----------+------------+
| Negative goodwill | - | 288 | 285 |
+----------------------------------+-------------+-----------+------------+
| Total operating loss | (779) | (860) | (2,294) |
+----------------------------------+-------------+-----------+------------+
| Operating loss by business | | | |
| segment | | | |
+----------------------------------+-------------+-----------+------------+
| Doctors | (53) | (108) | (180) |
+----------------------------------+-------------+-----------+------------+
| Other | (44) | (61) | (160) |
+----------------------------------+-------------+-----------+------------+
| Unallocated central costs | (682) | (691) | (1,954) |
+----------------------------------+-------------+-----------+------------+
| Total operating loss | (779) | (860) | (2,294) |
+----------------------------------+-------------+-----------+------------+
| Finance income | - | 12 | - |
+----------------------------------+-------------+-----------+------------+
| Finance expense | (29) | (95) | (180) |
+----------------------------------+-------------+-----------+------------+
| Loss before taxation and | (808) | (943) | (2,474) |
| discontinued operations | | | |
+----------------------------------+-------------+-----------+------------+
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------+-----+-------+--+----+---+------------+---------+--+-+------------+
| 3. Taxation | | |
| | | |
+--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------+-----------------+
| The tax expense recognised in the financial statements comprises UK corporation tax charges or |
| credits together with deferred tax charges and credits. The tax charge has been calculated |
| using estimated annual rates for the full year of 0% (2009: 0%). |
| |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| 4. Share Capital |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| | | Ordinary | Share | |
| | Number of shares | Shares | premium | Total |
| | (thousands) | GBP000 | GBP000 | GBP000 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| At 6th July 2008 | 87,633,070 | 8,763 | 7,408 | 16,171 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| At 4th January 2009 | 87,633,070 | 8,763 | 7,408 | 16,171 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| Issued on acquisition of subsidiary | 5,000,000 | 500 | - | 500 |
| at par | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------+----------------+------------+--------------+
| At 5th July 2009 | 92,633,070 | 9,263 | 7,408 | 16,671 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| At 4th July 2010 | 92,633,070 | 9,263 | 7,408 | 16,671 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+----------------+------------+--------------+
| |
| The total authorised number of ordinary shares is 116,844,100 with a par value of 10p per |
| share. All issued shares are fully paid. |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| | | |
| | | |
| 5. (Loss)/earnings per share | | |
+---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+----------------+---------------------------+
| | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+-------------------------------------+----------------+---------------------------+
| Basic (loss)/earnings per 10p share is calculated by dividing the earnings attributable to |
| ordinary shareholders by the weighted average number of ordinary shares in issue during the |
| period. |
| |
| For diluted (loss)/earnings per share, the weighted average number of ordinary shares in issue |
| is adjusted to assume conversion of all potentially dilutive ordinary shares. The Group does |
| not have a category of potentially dilutive ordinary shares. |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------------+------------------------------------------------------------+
| | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------------+------------------------------------------------------------+
| | | | | | | | Unaudited | Unaudited | Audited |
| | | | | | | | 6 months | 6 months | 52 weeks |
| | | | | | | | ended | ended | ended |
| | | | | | | | 04/07/10 | 05/07/09 | 03/01/10 |
| | | | | | | | GBP000 | GBP000 | GBP000 |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------------+--------------------------------+--------------+------------+
| | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------------+------------------------------------------------------------+
| Loss from continuing operations attributable to equity | (751) | (929) | (2,458) |
| shareholders of the company | | | |
+-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+------------+--------------+------------+
| (Loss)/profit from discontinued operations attributable | (4,880) | 806 | 1,209 |
| to equity shareholders of the company | | | |
+-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+------------+--------------+------------+
| | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+--------------------------------------+----------------------------------------+
| | | | | | | | (5,631) | (123) | (1,249) |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+--------------------------------------+------------+--------------+------------+
| | | | |
+-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+------------+--------------+------------+
| Weighted average number of ordinary share in issue | 92,633,070 | 88,258,070 | 90,764,938 |
+-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+------------+--------------+------------+
| | | |
| | | |
| | | |
+-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+------------+---------------------------+
| |
| 6. Assets classified as held-for-sale and discontinued operations |
| |
| During the period, the Group was involved in discussions with a third party to dispose of its Agency Nursing and Medical Services business. The transaction was completed on 6th September 2010 for a total cash consideration of GBP2.75 million. |
| |
| (Loss)/profit for the period from discontinued operations may be analysed as follows: |
| |
| |
| Unaudited Unaudited Audited |
| 6 months 6 months 52 |
| ended ended weeks |
| 04/07/10 05/07/09 ended |
| GBP000 GBP000 03/01/10 |
| GBP000 |
| Revenue 15,779 17,651 35,064 |
| Cost of Sales (12,606) (14,231) (27,891) |
| Gross profit 3,173 3,420 7,173 |
| Marketing and sales (1,346) (1,460) (2,985) |
| Administrative expenses (1,900) (1,154) (2,849) |
| Impairment of goodwill (3,243) - (134) |
| Provision for onerous contracts (1,466) - - |
| Operating (loss)/profit (4,782) 806 1,205 |
| Finance expense (98) - - |
| (Loss)/profit before taxation (4,880) 806 1,205 |
| Tax - - 4 |
| (Loss)/profit for the period (4,880) 806 1,209 |
| Unaudited |
| 6 months |
| ended |
| 04/07/10 |
| GBP000 |
| Goodwill 229 |
| Other intangible assets 2,240 |
| Property, plant and equipment 65 |
| Total 2,534 |
| Unaudited |
| 6 months |
| ended |
| 04/07/10 |
| GBP000 |
| At 4th January 2010 - |
| Charged to the statement of comprehensive income - 1,466 |
| discontinued operations |
| At 4th July 2010 1,466 |
| Unaudited |
| 6 months |
| ended |
| 04/07/10 |
| GBP000 |
| Non-current 1,316 |
| Current 150 |
| 1,466 |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| 8. Intangible assets |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| | | | | | Unaudited |
| | | | | | 6 months |
| | | Temporary | | | ended |
| | Development | | Customer | Compliance | 04/07/10 |
| Other intangible assets | costs | Staff | Contracts | Database | GBP000 |
| | | Databases | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Cost | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+---------------------------+
| At 4th January 2010 | 95 | 81 | 5,051 | 508 | 5,735 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Additions | 2 | - | - | - | 2 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Transferred to disposal group | - | (60) | (2,977) | - | (3,037) |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| classified as held for sale | | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| At 4th July 2010 | 97 | 21 | 2,074 | 508 | 2,700 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Amortisation | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+---------------------------+
| At 4th January 2010 | 80 | 16 | 2,475 | 64 | 2,635 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Charge for the period | - | 2 | 77 | 51 | 130 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Transferred to disposal group | - | (13) | (784) | - | (797) |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| classified as held for sale | | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| At 4th July 2010 | 80 | 5 | 1,768 | 115 | 1,968 |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| | | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| Net book amount at 4th July | 17 | 16 | 306 | 393 | 732 |
| 2010 | | | | | |
+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+-------------+-----------+------------+------------+--------------+
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| Intangible assets include the capitalised value of customer contracts and staff databases |
| acquired via business combinations. Such contracts and databases are capitalised at fair value |
| and amortised over a period equal to the remaining useful life, which is estimated to be |
| twenty years. |
| |
| The Group carries out reviews of its intangible assets on an annual basis to determine whether |
| events or changes in circumstances indicate that the carrying amount of the assets may not be |
| recoverable. If any such indication exists, the recoverable amount of the asset is estimated |
| as either the higher of the net selling price, replacement cost, or value in use; the |
| resultant loss (the difference between the carrying amount and the recoverable amount) is |
| recorded as a charge to the consolidated income statement. The calculation of replacement |
| costs is based on the current value of overheads costs attributable to database management. |
| The value in use is calculated as the present value of the estimated future cash flows |
| expected to result from the use of assets in the business being evaluated. In order to |
| determine the present value of estimated future cash flows, the Group uses a discount rate of |
| 11% based on its estimated weighted average cost of capital. Estimated future cash flows used |
| in the impairment calculations represent management's best view of likely market conditions |
| including selling prices, volumes and employment costs over a period of 5 years. Beyond this, |
| the UK long term growth rate of 2.25% has been assumed. Actual cash flows may differ |
| significantly from these estimates due to the effect of changes in the market conditions or to |
| subsequent decisions on the activities of the business. These differences may have a material |
| impact on the asset values, impairments and amortisation expense reported in future periods. |
| |
| The compliance database refers to Group owning the rights to the database management software |
| which was acquired during the acquisition of The Compliance Company (GB) Ltd. The database |
| management software specifically manages and monitors the compliance status of healthcare |
| staff in line with industry requirements. |
| |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| 9.Goodwill |
| |
| |
| Unaudited |
| 6 months |
| ended |
| 04/07/10 |
| GBP000 |
| Cost |
| At 5th January 2010 4,552 |
| Impairment charge (3,243) |
| Transferred to disposal group classified as held for sale (229) |
| At 4th July 2010 1,080 |
| |
+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| | | |
| | | |
| | | |
| | | |
+----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+---------------------------+
| | | | | | | | | | | | | | | | | |
+------------------------------------------------------------------------------------------------------------------------------------------------------+---+--+--+--+--+------------+-----+-------+--+----+---+------------+---------+--+-+------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR QDLFFBKFFBBB
1 Year Pinnacle Staffing Chart |
1 Month Pinnacle Staffing Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
