Powerleague Share Discussion Threads

[farmers son] 14/3/2007 20:54

results are unspectacular. unfortunately a lot of money is being spent refurbishing current sites and servicing debt, which isn't getting more punters through the gates. Asset backed and cash generative maybe, but very little growth to speak of. a safe bet for very steady long term growth - no bad thing in current market uncertainty.

[roodboy] 14/3/2007 18:35

on the face of it the results are decent but the market does not seem too interested in PWR

[cupasoup2006] 12/3/2007 08:43

so, what did everyone think of the results?

[gucci] 06/3/2007 21:33

oh please break out !!!!

[roodboy] 06/3/2007 13:56

RNS Number:3767S
Powerleague Group plc
06 March 2007


POWERLEAGUE GROUP PLC

Interim Results for the Six Months Ended 30 December 2006

Strong increase in revenues and profits


POWERLEAGUE - The Champions of 5 a-side

6 March 2007

Powerleague is the leading commercial operator of 5-a-side football centres in
the UK. The Group currently has 34 centres encompassing 356 floodlit,
all-weather outdoor pitches, spread throughout the UK and attracting around
90,000 players to our venues each week.


* Sales up 15% to #10.9 million (2005: #9.5 million)

* EBITDA up 21% to #3.5 million (2005: #2.9 million)

* Pre-tax profit increased 21% to #1.7 million (2005: #1.4 million)

* Earnings per share increased by 25% to 1.19p (2005: 0.95p)

* Centres' like for like sales up 5% (excluding sponsorship and events)

* Like for like sponsorship and events revenue up 62%

* Further investment of #1.4 million to be made during summer 2007 to
upgrade eight centres


Claude Littner, Chairman of Powerleague, commented: "The increase in
profitability has been achieved through the combination of new centres and
effective marketing which has driven sales growth and improved pitch utilisation
rates, in particular at centres where pitches were upgraded over the summer
months. Sponsorship and events income has shown further growth and has
contributed to the improvement in sales and profit margins.

"Trading during the first nine weeks of the second half of the year remains
strong and is in line with expectations and we are on target to achieve our plan
for the full year. We have a strong pipeline of new sites at various stages in
the development process, which will enable us to maintain our rollout programme.
The significant investment planned for the summer will further enhance the
performance of our core estate. Last, but by no means least, we have an
experienced management team with focused and motivated staff. All this augurs
well for the future. "


For further information:

Claude Littner, Executive Chairman Lulu Bridges
Sean Tracey, Chief Executive John West
Sheena Beckwith, Finance Director Tavistock Communications
Tel: [phone] (6, 7, 8, 9 March only) Tel: [phone]


Chairman's report
Six months to 30 December 2006

I am delighted to report that the first half of this financial year has shown
continued strong growth in both revenues and profits.

Results

Sales for the six months ended 30 December 2006 were #10.9m (2005: #9.5m), an
increase of 15%. Like for like sales encouragingly have grown by 5% (2005:
3.5%).

EBITDA increased by 21% to #3.5m (2005: #2.9m), with like for like EBITDA up by
6%. Operating profit increased by 21% to #2.3m (2005: #1.9m).

The increase in profitability has been achieved through the combination of new
centres and effective marketing which has driven sales growth and improved pitch
utilisation rates, in particular at centres where pitches were upgraded over the
summer months. Sponsorship and events income has shown further growth and has
contributed to the improvement in sales and profit margins.

Earnings per share increased by 25% to 1.19p (2005: 0.95p).

Dividends

In December 2006, the company paid a final dividend of 0.75 pence per ordinary
10p share in respect of the year ended 1 July 2006. We do not propose an
interim dividend for the current year but intend to recommend a final dividend.

Operational Review

During the year we have continued to benefit from the increasing popularity of
5-a-side football, capitalising on the strength of our leading position within
the market to increase our pipeline of sites and further successfully monetise
sponsorship and brand partnerships.

During the first half of the year, we have continued with our commitment to
invest in our estate by upgrading existing pitches and extending facilities. We
remain committed to investing in the estate where it is commercially
justifiable.

Five centres benefited from the installation of the latest 5th generation
surfaces. As a result of this investment and subsequent re-marketing, our
centres at Barnet, Mill Hill, Birmingham, Paisley and Hamilton have helped boost
our like for like sales through a combination of increased occupancy rates,
player participation numbers and price. In October 2006, we also added a
7-a-side pitch at Kilmarnock to meet demand and opened a "Power for Life"
affordable gym at Norbury.

The two new centres opened just prior to the start of the new financial year at
London City and Bolton are both making positive contributions in this financial
year and exceeding expectations.

Building for Growth

In the next 12 months the company plans to accelerate its roll out and open a
further five new centres.

I am delighted to announce that a new site is under construction at an excellent
school site in Milton Keynes, in a strong catchment area with no commercial
competition. The centre will have ten 5-a-side pitches and two 7-a-side pitches
as well as full clubhouse facilities and bar, and is scheduled to open this
summer.

In addition, I am pleased to confirm that Powerleague Cardiff is scheduled for
completion in the first half of the next financial year. Built on the largest
comprehensive school in the UK, this high profile site with ten 5-a-side
pitches, full clubhouse and bar and situated prominently on a main arterial
route into Cardiff, will be a valuable addition to the Powerleague portfolio.

These sites, combined with our current ten school and university centres and
coupled with our pipeline of future opportunities, confirm Powerleague's
pre-eminent position within the education sector. Furthermore, we continue to
work on a number of initiatives in conjunction with local authorities, private
landlords and other leisure operators. This gives further impetus to our roll
out plans.

Investing for Growth

We have been encouraged by the strong performances at the centres that we have
upgraded and we intend to take the opportunity to accelerate our refurbishment
programme with a further tranche of centres. Eight centres, comprising 78
pitches will be fully upgraded with 5th generation playing surfaces. To minimise
disruption, the work will be carried out over the summer months. This will take
the percentage of 3rd and 5th generation surfaces from 50% to 80%. In addition,
a further eight bar areas will be refurbished, to help drive wet sale revenue.
We intend to invest #1.4 million to complete this programme and are confident
that this investment will help boost performance by providing an enhanced
playing experience for existing customers and attracting new players.

In our Annual Report, we stated that the Powerleague Group plc 2006 Share Option
Scheme had been established and approved on 29th September. Options over a total
of 190,000 shares have now been granted to a number of long-serving employees.

Sponsorship and Events

In the last financial year, we signed new and improved long-term agreements
with, amongst others, Xbox, Nike, Budweiser and Lucozade. In addition, we have
secured a new national event for Securicor and rebooked the Barclays National
5-a-side tournament. We continue to reap the financial benefits of these
associations, with a 62% increase in sponsorship revenues. This growth, coupled
with further new local and national 5-a-side events and tournaments for a wide
range of companies, has been highly encouraging. Our success at monetising
sponsorship from grass roots football has been driven by a dedicated sales team
who are well versed in designing campaigns for major brands to fit their
strategic goals.

I am optimistic about the potential for further growth in this area of activity,
both in the short and longer term.

Outlook

Trading during the first nine weeks of the second half of the year remains
strong and is in line with expectations and we are on target to achieve our plan
for the full year. The financial period from January to the end of June is
traditionally stronger than the first half, as we do not have the seasonal
downturn in activity of the July/August and Christmas/ New Year holiday periods.

The popularity of 5-a-side football continues unabated and participation numbers
continue to increase. Powerleague attracts a wide age range of customers on a
regular basis who enjoy our superior offering and excellent facilities. We have
a strong pipeline of new sites at various stages in the development process,
which will enable us to maintain our rollout programme. The significant
investment planned for the summer will further enhance the performance of our
core estate. Last, but by no means least, we have an experienced management team
with focused and motivated staff. All this augurs well for the future.

Claude Littner
Chairman



Powerleague Group plc

INDEPENDENT REVIEW REPORT
TO POWERLEAGUE GROUP PLC
Six months to 30 December 2006

Introduction

We have been instructed by the company to review the financial information for
the six months ended 30 December 2006 which comprises the Consolidated Profit
and Loss Account, Note of Historical Cost Profits and Losses, Consolidated
Statement of Total Recognised Gains and Losses, Consolidated Balance Sheet,
Consolidated Cash Flow Statement, and the related notes 1 to 9. We have read the
other information contained in the interim report and considered whether it
contains any apparent misstatements or material inconsistencies with the
financial information.

This report is made solely to the company in accordance with guidance contained
in Bulletin 1999/4 'Review of interim financial information' issued by the
Auditing Practices Board. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the company, for our work,
for this report, or for the conclusions we have formed.

Directors' responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The directors
are responsible for preparing the interim report in accordance with the Listing
Rules of the Financial Services Authority which require that the accounting
policies and presentation applied to the interim figures should be consistent
with those applied in preparing the preceding annual accounts except where any
changes, and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999/4
issued by the Auditing Practices Board. A review consists principally of making
enquiries of group management and applying analytical procedures to the
financial information and underlying financial data and based thereon, assessing
whether the accounting policies and presentation have been consistently applied
unless otherwise disclosed. A review excludes audit procedures such as tests of
controls and verification of assets liabilities and transactions. It is
substantially less in scope than an audit performed in accordance with Auditing
Standards and therefore provides a lower level of assurance than an audit.
Accordingly we do not express an audit opinion on the financial information.

Review conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 December 2006.

As noted in the interim report, the comparative amounts have not been reviewed.
Our report is not qualified in this respect.

Ernst & Young LLP
Glasgow
March 2006


Powerleague Group plc

Consolidated profit and loss account
for the six months ended 30 December 2006

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
Notes #000 #000 #000

Turnover 10,855 9,516 20,488
Cost of sales (1,904) (1,731) (3,640)
----------- ----------- -----------
Gross profit 8,951 7,785 16,848
----------- ----------- -----------
Administration expenses excluding
exceptional items (6,669) (5,933) (12,018)
Exceptional items 2 - - (96)
----------- ----------- -----------
Total administration expenses (6,669) (5,933) (12,114)
----------- ----------- -----------
Operating profit 2,282 1,852 4,734
Analysed as:
Operating profit excluding exceptional
items 2,282 1,852 4,830
Exceptional items - - (96)

Loss on disposal of fixed assets - - (319)

Net interest payable and similar
charges (554) (492) (995)
----------- ----------- -----------
Profit on ordinary activities before taxation 1,728 1,360 3,420

Tax on profit on ordinary activities 3 (752) (585) (1,472)
----------- ----------- -----------
Profit on ordinary activities after taxation 976 775 1,948
=========== =========== ===========

Earnings per ordinary share
- basic and diluted 4 1.19p 0.95p 2.38p

Adjusted Earnings per ordinary share
- basic and diluted
- as revised 4 1.19p 0.95p 3.11p
- on the basis previously used 4 2.11p 1.66p 4.69p



Note of historical cost profits and losses
for the six months ended 30 December 2006

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000

Reported profit on ordinary activities
before taxation 1,728 1,360 3,420

Difference between historical cost
depreciation charge
and the actual depreciation charge
calculated on the
revalued amount 337 312 673
---------- ---------- ----------
Historical cost profit on ordinary
activities before taxation 2,065 1,672 4,093
========== ========== ==========

Historical cost profit on ordinary
activities after taxation and dividends 1,313 1,087 2,621
========== ========== ==========


Group statement of total recognised gains and losses
for the six months ended 30 December 2006

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000

Profit on ordinary activities after taxation 976 775 1,948
Gain on revaluation of fixed assets - - 2,383
---------- ---------- ----------
Total recognised gains and losses relating
to the period 976 775 4,331
========== ========== ==========

Consolidated balance sheet
At 30 December 2006

As at As at As at
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
Notes #000 #000 #000
Fixed assets
Tangible assets 69,329 63,299 68,984
Negative goodwill (1,761) (1,980) (1,915)
------------ ------------ ------------
67,568 61,319 67,069
Current assets
Stocks 181 148 174
Debtors:
amounts falling due after one year 152 - -
amounts falling due within one year 725 749 1,042
------------ ------------ ------------
877 749 1,042
Cash at bank and in hand 597 591 766
------------ ------------ ------------
1,655 1,488 1,982

Creditors: amounts falling due
within one year 5 (8,616) (7,310) (7,892)
------------ ------------ ------------
Net current liabilities (6,961) (5,822) (5,910)
------------ ------------ ------------
Total assets less current liabilities 60,607 55,497 61,159

Creditors: amounts falling due after
more than one year (14,454) (14,000) (15,595)

Provisions for liabilities and charges (2,863) (2,129) (2,640)
------------ ------------ ------------
Net assets 43,290 39,368 42,924
============ ============ ============

Capital and reserves
Called up share capital 8,182 8,182 8,182
Share premium account 6 7,287 7,287 7,287
Revaluation reserve 6 20,831 19,146 21,168
Profit and loss account 6 6,990 4,753 6,287
------------ ------------ ------------
Shareholders' funds 43,290 39,368 42,924
============ ============ ============


Consolidated statement of cash flows
for the six months ended 30 December 2006

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
Notes #000 #000 #000

Net cash inflow from operating
activities 7 2,579 2,619 7,468

Return on investments and servicing of
finance
Interest paid (534) (491) (916)

Taxation
Taxation refund in respect of prior years - - 65

Capital expenditure
Payments to acquire tangible fixed assets (1,887) (2,977) (6,665)

Acquisitions and disposals
Acquisition of subsidiary undertaking - - (982)
Cash acquired with subsidiary undertaking - - 8
Subsidiary undertaking loan repaid on
acquisition - - (328)
Proceeds from disposal of trading
business 45 - -
---------- ---------- ----------
45 - (1,302)
---------- ---------- ----------

Equity dividends paid (614) - -


Cash outflow before management of liquid
resources and financing (411) (849) (1,350)

Management of liquid resources
Increase in short term deposits held - - 50

Financing
New borrowings 321 1,665 4,423
Repayment of borrowings (1,334) (1,333) (2,667)
---------- ---------- ----------
(1,013) 332 1,756
---------- ---------- ----------
(Decrease)/increase in cash 8 (1,424) (517) 456
========== ========== ==========


Notes to the financial statements
for the six months ended 30 December 2006

1. Basis of preparation

This interim report does not constitute statutory accounts within the meaning of
section 240 of the Companies Act 1985, was approved by the Board on 5 March
2007. It has been prepared under the historical cost convention as modified for
the revaluation of certain fixed assets.

The interim financial statements are unaudited, however for the first time we
have requested our auditors to perform a formal review and their report to the
company is set out on page 6. The comparative figures have therefore not been
reviewed.

The interim report consolidates the financial statements of Powerleague Group
plc and its subsidiaries, which have been made up to 30 December 2006.

The report is consistent with the accounting policies set out in the audited
Report and Accounts of the group for the year ended 1 July 2006 with the
exception of the adoption by the Group of FRS20 - "Share Based Payments". FRS 20
requires the fair value of options and share awards which ultimately vest to be
charged to the profit and loss account over the vesting period. For
equity-settled transactions the fair value is determined at the date of grant
using an appropriate pricing model. If an award fails to vest, the charge to the
profit and loss will be adjusted to reflect this. This is the first period in
which options have been granted and the charge to profit in the period was
#3,790.

The financial information for the full preceding year does not constitute
statutory accounts as defined in Section 240 Companies Act 1985 and has been
extracted from the statutory accounts for the financial year ended 1 July 2006.
Those accounts, upon which the auditors issued an unqualified audit report, have
been delivered to the Registrar of Companies.

The financial information for the comparative interim period to 31 December 2005
has been restated to reflect the effective rate of taxation which applied for
the full year to 1 July 2006. Previously the company applied a composite
effective tax rate, based on an assumed mix of income and capital gains tax. The
impact of this restatement was an increase in the taxation charge to the profit
and loss account of #201,000, an increase in the corporation tax creditor of
#91,000 and an increase in the deferred taxation provision of #110,000.

The calculation of adjusted earnings per share has been changed. In previous
periods, the taxation charge was eliminated in full, in order to facilitate
comparison to earlier periods in which tax losses were utilised. Since
management now regard the tax charge to be more relevant to current period
performance, the adjusted, earnings per share calculation now eliminates only
exceptional items and their taxation effect. The impact of the change is shown
in note 4.


2. Exceptional items

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000

Impairment of tangible fixed assets - - (96)
====== ====== ======

The impairment of tangible fixed assets relates to the centre at Dunfermline,
which, at 1 July 2006, was the subject of a provisional sale agreement. The
impairment at that date reflects the difference between the carrying value of
the assets and the anticipated net proceeds from the sale.


3. Taxation on profit on ordinary activities

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000
Current taxation:
UK Corporation tax 529 272 696
Adjustment in respect of prior years - - (55)
---------- ---------- ----------
Total current tax 529 272 641

Deferred taxation:

Origination and reversal of
timing differences 223 313 463
Brought forward losses utilised - - 386
Adjustment in respect of prior years - - (18)
---------- ---------- ----------
Deferred tax charge for the
current period 223 313 831
---------- ---------- ----------
Taxation on profit on
ordinary activities 752 585 1,472
========== ========== ==========

The taxation charge for the current period has been calculated using the rate
likely to apply for the whole year.

The taxation charge for the 6 months ended 31 December 2005 has been adjusted
from the rate thought likely to apply at that time, to the actual rate
applicable for that period. The adjustment amounted to an increase in the charge
of #201,000.


4. Earnings per share

Basic earnings per ordinary 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, which was 81,820,000 for each period under
consideration.

Diluted earnings per share is calculated by dividing the earnings attributable
to ordinary shareholders by the weighted average number of ordinary shares in
issue and share options granted during the period. For the period ended 30
December 2006, this was 81,915,000 and for the two comparative periods this was
81,820,000.
Six months Six months Year
ended ended ended
30 December 2006 31 December 2005 1 July 2006
(unaudited) (not reviewed- (audited)
restated)
------------------------- -------------------------- -------------------------
Profit for Earnings Profit for Earnings Profit for Earnings
the period per share the period per share the year per share
#000 p #000 p #000 p

Basic
earnings
per
share 976 1.19 775 0.95 1,948 2.38

Diluted
earnings
per
share 976 1.19 775 0.95 1,948 2.38

Adjusted earnings per ordinary 10p share is calculated using profit adjusted for
exceptional items and the taxation effect of those exceptional items. This
measure has been selected to exclude one-off exceptional items and thus enable
future adjusted earnings per share calculations, which are not affected by the
above items, to be meaningfully compared with the past.


Six months Six months Year
ended ended ended
30 December 2006 31 December 2005 1 July 2006
(unaudited) (not reviewed- (audited)
restated)
------------------------- -------------------------- ------------------------
Profit for Earnings Profit for Earnings Profit for Earnings
the period per share the period per share the year per share
#000 p #000 p #000 p
Basic
adjusted
earnings
per share 976 1.19 775 0.95 2,541 3.11

Diluted
adjusted
earnings
per share 976 1.19 775 0.95 2,541 3.11

On the basis
previously used:

Basic and
diluted
adjusted
earnings
per share 1,728 2.11 1,360 1.66 3,835 4.69

Reconciliation of profit for the year:

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000

Profit for basic and diluted
earnings per share 976 775 1,948
Exceptional operating items - - 96
(Gain)/loss on disposal of tangible
fixed assets - - 319
Taxation effect of exceptional items - - 178
---------- ---------- ----------
Profit for adjusted earnings per share 976 775 2,541

Taxation added back 752 585 1,294
---------- ---------- ----------
Profit for adjusted earnings per share
on the basis previously used 1,728 1,360 3,835
========== ========== ==========


5. Creditors: amounts falling due within one year

30 December 31 December 1 July
2006 2005 2006
(unaudited) (not reviewed- (audited)
restated)
#000 #000 #000

Bank overdrafts 2,369 1,862 1,114
Bank term loans 2,655 2,655 2,655
Trade creditors 867 655 1,925
Other taxation and social security 379 282 370
Deferred grant 1 1 1
Corporation tax 1,233 272 715
Accruals and deferred income 1,112 1,583 1,112
---------- ---------- ----------
8,616 7,310 7,982
========== ========== ==========


6. Reconciliation of Shareholders' funds and movement on reserves

Share Profit & Total
Share Premium Revaluation Loss Shareholders
Capital account reserves account funds
#000 #000 #000 #000 #000

At 3 July 2005 (audited) 8,182 7,287 19,458 3,666 38,593

Retained profit for the
period - - - 976 976
Transfer to profit
and loss account - - (312) 312 -
---------- ---------- ---------- ---------- ----------
At 31 December 2005 as
previously reported (not
reviewed) 8,182 7,287 19,146 4,954 39,569

Taxation charge restated
(see note 3) - - - (201) (201)
---------- ---------- ---------- ---------- ----------
At 31 December 2005
(not reviewed -
restated) 8,182 7,287 19,146 4,753 39,368

Arising from revaluation
of operating assets - - 2,383 - 2,383
Retained profit for the
period - - - 1,173 1,173
Transfer to profit
and loss account - - (361) 361 -
---------- ---------- ---------- ---------- ----------
At 1 July 2006 (audited) 8,182 7,287 21,168 6,287 42,924

Retained profit for the
period - - - 976 976
Ordinary dividend - - - (614) (614)
Share based payment - - - 4 4
Transfer to profit
and loss account - - (337) 337 -

---------- ---------- ---------- ---------- ----------
At 30 December 2006
(unaudited) 8,182 7,287 20,831 6,990 43,290
========== ========== ========== ========== ==========


7. Reconciliation of operating profit to net cash flow from operating activities

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not (audited)
reviewed-
restated)
#000 #000 #000

Operating profit 2,282 1,852 4,734
Depreciation and impairment 1,321 1,178 2,610
Release of negative goodwill (154) (131) (241)
Release of deferred grant - - (1)
Amortisation of deferred finance costs 6 6 12
Increase in stock (7) (30) (59)
Decrease/(increase) in debtors 341 195 (98)
(Decrease)/increase in creditors (1,210) (451) 511
---------- ---------- ----------
Net cash inflow from operating
activities 2,579 2,619 7,468
========== ========== ==========


8. Reconciliation of net cash flow to movement in net debt

6 months 6 months Year
ended ended ended
30 December 31 December 1 July
2006 2005 2006
(unaudited) (not (audited)
reviewed-
restated)
#000 #000 #000

(Decrease)/increase in cash in the
period (1,424) (517) 456
Net cash inflow/(outflow) from
decrease/(increase)
in debt 1,013 (332) (1,756)
Movement in liquid resources - - (50)
---------- ---------- ----------
Movement in net debt arising from
cash flows (411) (849) (1,350)
Amortisation of deferred debt costs (6) (6) (12)
Accrued interest costs - - (94)
Opening net debt (18,141) (16,685) (16,685)
---------- ---------- ----------
Closing net debt (18,558) (17,540) (18,141)
========== ========== ==========


9. Analysis of changes in net debt

At At
1 July Non cash 30 December
2006 Cash flows transactions 2006
(audited) (unaudited)

#000 #000 #000 #000
Cash in hand and at bank 516 (169) - 347
Bank overdraft (1,114) (1,255) - (2,369)
---------- ---------- ---------- ----------
(598) (1,424) - (2,022)
Liquid resources 250 - - 250
Debt due within one year (2,655) - - (2,655)
Debt due after one year (15,138) 1,013 (6) (14,131)
---------- ---------- ---------- ----------
Closing net debt (18,141) (411) (6) (18,558)
========== ========== ========== ==========




This information is provided by RNS
The company news service from the London Stock Exchange

[thotz] 20/2/2007 11:29

Several large buys yesterday and two today. No tick up though. Maybe filling a sell order? Anyway, roll on the interims.

[roodboy] 12/2/2007 12:59

still waiting for the breakout - maybe it will depend on results now?

[gucci] 02/2/2007 08:59

l2
very strong
5 at 83p 1 at 87p

[gucci] 02/2/2007 08:28

heading for a breakout today
has it been tipped?

[gucci] 15/1/2007 23:00

looks likely 120p first stop

[roodboy] 15/1/2007 11:14

ye it is possible

PWR looking at breaking out to new highs

[digitalinvestor] 09/1/2007 08:08

is it possible to insert pics in the message board?

[digitalinvestor] 08/1/2007 16:59

READING CHRONICLE
4th January
'Concerns' could halt £3m revamp of school
THE promise of a £3 million revamp for Bulmershe School could falter after Woodley town councillors lodged "grave concerns" over plans for 12 all-weather football pitches.
With the scheme to rebuild Addington School already given the go-ahead for the Bulmershe site, five-aside company Powerleague has also submitted plans for pitches and parking for 156 cars.
If the £1.72 million investment goes through the facilities will be used exclusively by pupils daily until 4.30pm when it is opened up to the community and local leagues.
And the Bulmershe School is also hoping to submit plans to revamp its tennis courts, gymnasium and security arrangements as part of a £3 million development, as well as creating a special outdoor pursuits area.
And councillors claim attracting hundreds of sports enthusiasts will create a traffic nightmare.
Cllr Coling Lawley said: "I have no doubt that we need these excellent facilities, but that does not mean we need them on this site.
"It does occur to me that Powerleague is a profit-making organ-isation and that they will maximise what they can do to this.
"This is the green gap between Woodley, Earley and Reading, and it's in the local plan as a site of urban landscape value."
Cllr Phil Challis admitted: "I think facilities like this are potentially very attractive for Woodley."
But he added: "Had this come along without Addington I would have looked at it in a different light, and the cumulative traffic impact of the two would be quite overwhelming for this site."

[farmers son] 08/1/2007 11:06

Read Shauney's link above

[cupasoup2006] 08/1/2007 11:01

Farmer Son, don't understand your email - can u elaborate?

[farmers son] 08/1/2007 10:55

Thanks for the link...

Powerleague reality TV - superb
Celebrity Powerleague tournaments?
Soapstar Soccerstar on prime time ITV?
Just the 5 of us on BBC3 and HD to rival it?

As long as it increases the profile of our company, it's all good...

[gucci] 08/1/2007 10:36

reckon still good buy
chart shud breakout this time round imho

[slapdash] 08/1/2007 10:19

the power of the press!!!!!!!!!! Darn I should of bought some this am....

Slapper

[gucci] 07/1/2007 16:24

about time this got noticed

[shauney2] 07/1/2007 16:10

I have had Goal on my watchlist but there is a good article in the Sunday telegraph business section on PWR.
Not sure if this link will work

Shaun.

[maddox] 27/12/2006 11:38

Hi guys,

Having a look at this one for the first time. The sector looks like a very good growth story, perhaps constrained by the planning permission issue. Its a simple model driven by the speed of roll-out and I like the asset backed nature of the business that should keep competition fairly benign. Although, debt has to be a risk factor, particularly if a consumer recession looms.

Its always informative to see two firms in the same sector as we have here with PWR and GOAL. I note that the market is putting a higher rating on GOAL; it was first to market and appears to have developed a good following. However, there are some other factors that give a firmer foundation to this difference:

>> GOAL is more highly geared, that should mean that its eps should grow faster.

>> GOAL appears to be developing centres faster (5 p.a. versus 3 p.a. for PWR)and as this is from a lower base, it is growing proportionately much faster.

I have found it difficult to work out from the Company's Statement exactly how many sites are open in the financial periods - I thus detect a certain amount of dissembling on this point.

Anyway there appears to be plenty of development opportunity - the question is whether the management can increase its development schedule?

Any views?

Regards, Maddox

[tt2oo5] 21/12/2006 11:50

In pwr (knee-deep) @59p end of '05.....everythings' again saying " this is your 1 of 2 stocks to hold thru '07.

#2 stock being sbdb (New City of London). Both boost decently healthy figures and growth scope. Awaiting sbdb release per a 2nd divi. p.s A word is enough for the wise. DYOR.

I'll be monitoring seo as well(seem somethings in the pipe-line out there).

A very Merry Christmas n A Happy New Year, Bravehearts.

[rajbeers] 20/12/2006 16:29

good little compnay, with good growth prospects, so y not

[chapman123] 20/12/2006 11:27

still going strong tempted to buy some more ??????

[holgerl] 19/12/2006 08:06

faser than a speedin bullock