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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Value And Indexed Property Income Trust Plc | LSE:VIP | London | Ordinary Share | GB0008484718 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3.00 | -1.72% | 171.00 | 170.00 | 178.00 | 177.00 | 171.00 | 171.00 | 19,974 | 16:35:14 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investment Advice | -14.41M | -23.9M | -0.5500 | -3.22 | 76.9M |
From Apr 2019 to Apr 2024
TIDMVIP
RNS Number : 7891P
Vipera PLC
05 September 2017
Hot Features
Premium
For immediate release 5 September
2017
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014. The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
VIPERA PLC
("Vipera" or the "Company")
Interim results for six months ended 30 June 2017
Vipera (AIM:VIP), the specialist provider of mobile financial services, is pleased to announce its unaudited interim results for the six months ended 30 June 2017.
Period Highlights:
-- Revenue EUR4.35 million: up 15% vs prior year
(H1 2016: EUR3.78 million)
-- Operating loss EUR0.56 million (H1 2016: EUR0.40
million), reflecting investment spend to accelerate
path to profitability
-- Major contract won with major existing customer
in Middle East
-- Signed initial contracts with two financial
institutions - in North America and United
Kingdom generated through new Mastercard partnership
Post-Period Highlights:
-- Acquisition of SoftTelecom in Spain and establishment
of Iberia presence
-- EUR2.5 million subscription at premium to
market price to finance acquisition and raise
expansion capital
-- Dubai office opened
-- Completion of Codd & Date reorganisation
Vipera CEO Marco Casartelli commented, "2017 has, so far, been another year of positive progress for Vipera, which has seen further growth in business with both existing and new customers, including wins in new geographies and in addition, the first two contracts with financial institutions generated through our partnership with Mastercard. We also completed the acquisition of SoftTelecom in Spain as part of our expansion strategy, which has provided us with an established presence in Iberia and additional technical resources. We are encouraged by the appetite for our solutions by the financial services and banking industry through a period of market uncertainty. We continue to strive to achieve the targets which we have set ourselves and look forward to progressing our growth further throughout the rest of this year.
"We would like to take this opportunity to thank our continually supportive investor base and our employees for their hard work in the year to date."
Contact:
Vipera PLC
Marco Casartelli (CEO) Tel: +39 02 8688
Martin Perrin (CFO) 2037
Tel: +44 (0) 20
7193 0833
finnCap Ltd (Nomad and Broker) Tel: +44 (0) 20
Adrian Hargrave / Anthony Adams 7220 0500
(Corporate Finance)
Camille Gochez (Corporate Broking)
IFC Advisory Ltd (Financial Tel: +44 (0) 203
PR and IR) 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
About Vipera:
Vipera Plc (AIM:VIP) a cutting edge Mobile Financial Services and Digital Customer Engagement Solutions provider, serves financial institutions worldwide with differentiated mobile banking, card management and customer engagement capabilities based around its proprietary bank grade multi-purpose platform, Motif. Additionally, it provides consultancy and other services to banks and financial institutions. For further information, please visit www.vipera.com.
Chairman's Statement
The first half of 2017 was a productive and eventful period for Vipera.
In March we entered into an agreement with the Arab Bank for Investment & Foreign Trade ("Al Masraf") for a multi phase project covering the design, development and implementation of a mobile banking and bill payment solution.
At the end of April we announced the signing of our largest contract to date. The deal, worth an initial $2.4million will see us develop the next generation of omni-channel banking and payment solutions for one of the UAE's leading financial institutions. Also at that client we rolled out a mobile payment service fully integrated with Visa and Mastercard, and in particular for Mastercard it's one of the first converged wallets in the Middle East.
In early June we announced a multi-year agreement with Bankart to provide an Host Card Emulation (HCE) solution for its client banks. Bankart is a Payment Processor located in Slovenia but which operates across the Balkans region. The project which will deliver implementation income and volume based licence fees, will see Motif deployed in Slovenia to orchestrate Bankart's HCE processes. HCE is the new and universally recognised technology for implementing mobile contact-less payments.
Meanwhile, we have now completed the re-organisation relating to Codd & Date, announced last December. In parallel, we have now opened an office in Dubai: with a team permanently based in UAE, we will be better placed to serve our customers in the region.
We have also been looking at a range of options as to acquisitions and in July we signed a contract for the acquisition of SoftTelecom in Spain which will both give us additional resources for continued product development and, in particular, act as a launchpad for expanding Group sales into the Spanish market with a local delivery capability in the Iberian region.
We have been grateful for the support of our shareholders and at the same time as the acquisition, we raised an additional EUR2.5 million of capital, placed at a premium to the market price, to help fund both the acquisition and the continued growth of the group.
In recent years we have seen a stronger second half and we expect this trend to continue.
Luciano Martucci
Chairman
Consolidated Statement of Comprehensive Income
For the six months ended 30 June 2017
Note Six months Six months Year
to 30 to 30 to 31
June June December
2017 2016 2016
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
------------------------------------- ---- ----------- ----------- -----------
Revenues 2 4,350,741 3,784,497 7,905,397
Costs of sales (1,819,916) (1,686,981) (6,176,479)
------------------------------------- ---- ----------- ----------- -----------
Gross margin 2,530,825 2,097,516 1,728,918
Operating expenses (3,093,406) (2,500,674) (2,420,763)
------------------------------------- ---- ----------- ----------- -----------
Operating loss before reorganisation
provisions (562,581) (403,158) (691,845)
Reorganisation provisions - - (776,238)
------------------------------------- ---- ----------- ----------- -----------
Operating loss after reorganisation
provisions (562,581) (403,158) (1,468,083)
Finance income 98 457 741
Finance costs (285) (9,673) (20,631)
Capital gains 6,500 - -
Loss before taxation (556,268) (412,374) (1,487,973)
Taxation (7,021) (3,086) (110,984)
------------------------------------- ---- ----------- ----------- -----------
Loss for the period (563,289) (415,460) (1,598,957)
------------------------------------- ---- ----------- ----------- -----------
Other comprehensive income
Items that may be subsequently
reclassified to profit or
loss:
Currency translation difference (119,382) (800,095) (920,569)
Acquisition of non-controlling
interest (119,504) - -
Total comprehensive income
for the period (802,175) (1,215,555) (2,519,526)
------------------------------------- ---- ----------- ----------- -----------
Loss for the period attributable
to:
Owners of the parent (539,500) (418,277) (1,610,190)
Non-controlling interest (23,789) 2,817 11,233
------------------------------------- ---- ----------- ----------- -----------
Loss for the period (563,289) (415,460) (1,598,957)
------------------------------------- ---- ----------- ----------- -----------
Total comprehensive income
for the year attributable
to:
Owners of the parent (750,362) (1,218,372) (2,530,759)
Non-controlling interest (51,813) 2,817 11,233
------------------------------------- ---- ----------- ----------- -----------
Total comptehensive income
for the year (802,175) (1,215,555) (2,519,526)
------------------------------------- ---- ----------- ----------- -----------
Earnings per ordinary share
attributable to owners of
the parent during the period
(expressed in EURcents per
share)
Basic and diluted 3 (0.23) (0.16) (0.62)
------------------------------------- ---- ----------- ----------- -----------
Consolidated Statement of Financial Position
As at 30 June 2017
Company number 05383355
Note 30 30 31
June June December
2017 2016 2016
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
------------------------------ ---- ----------- ----------- -----------
Non-current Assets
Goodwill 1,667,907 2,444,145 1,667,907
Intangible assets 3,181,166 3,009,510 3,096,676
Deferred taxation 398,138 519,424 456,492
Property, plant and equipment 268,748 54,881 146,755
Total non-current assets 5,515,959 6,027,960 5,367,830
------------------------------ ---- ----------- ----------- -----------
Current Assets
Trade and other receivables 2,994,415 3,199,197 3,864,041
Cash and cash equivalents 1,369,986 2,906,080 2,052,005
------------------------------ ---- ----------- ----------- -----------
Total current assets 4,364,401 6,105,277 5,916,046
------------------------------ ---- ----------- ----------- -----------
Current liabilities
Trade and other payables (2,908,687) (2,679,027) (2,977,676)
Borrowings (250,537) (466,886) (548,446)
Deferred revenue (332,464) (498,786) (685,893)
Current taxation (1,002) (145,967) (18,089)
------------------------------ ---- ----------- ----------- -----------
Total current liabilities (3,492,690) (3,790,666) (4,230,104)
------------------------------ ---- ----------- ----------- -----------
Net current assets 871,711 2,314,611 1,685,942
------------------------------ ---- ----------- ----------- -----------
Non-current liabilities
Deferred taxation - - -
Total non-current liabilities - - -
------------------------------ ---- ----------- ----------- -----------
Net Assets 6,387,670 8,342,571 7,053,772
------------------------------ ---- ----------- ----------- -----------
EQUITY
Share capital 4 7,091,571 7,068,808 7,068,808
Share premium 9,378,576 9,281,835 9,281,835
Reverse acquisition reserve (4,016,334) (4,016,334) (4,016,334)
Shares to be issued - - -
Foreign currency translation
reserve (761,895) (522,039) (642,513)
Retained loss (5,458,502) (3,667,350) (4,844,091)
------------------------------ ---- ----------- ----------- -----------
Equity attributable to owners
of the parent 6,233,416 8,144,920 6,847,705
Non-controlling interest 154,254 197,651 206,067
------------------------------ ---- ----------- ----------- -----------
Total equity 6,387,670 8,342,571 7,053,772
------------------------------ ---- ----------- ----------- -----------
Consolidated Statement of Changes in Equity
For the six months ended 30 June 2017
Attributable to equity shareholders of the parent
Foreign
Reverse currency Non-controlling
Share Share acquisition translation Retained interest
Group capital premium reserve reserve loss Total Total
EUR EUR EUR EUR EUR EUR EUR EUR
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
As at 1 January
2017 7,068,808 9,281,835 (4,016,334) (642,513) (4,844,091) 6,847,705 206,067 7,053,772
Loss for the
period - - - - (539,500) (539,500) (23,789) (563,289)
Other
comprehensive
income for the
period
- items that may
be subsequently
reclassified
to profit or
loss
Currency
translation
difference - - - (119,382) - (119,382) - (119,382)
Acquisition of
non-controlling
interest - - - - (91,480) (91,480) (28,024) (119,504)
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
Total
comprehensive
income for the
period - - - (119,382) (630,980) (750,362) (51,813) (802,175)
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
Share based
payment
transactions - - - - 16,569 16,569 - 16,569
Shares issued
net
of issue costs 22,763 96,741 - - - 119,504 - 119,504
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
Total
transactions
with owners,
recognized
directly in
equity 22,763 96,741 - - 16,569 136,073 - 136,073
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
As at 30 June
2017 7,091,571 9,378,576 (4,016,334) (761,895) (5,458,502) 6,233,416 154,254 6,387,670
---------------- --------- --------- ----------- ----------- ----------- --------- ----------------- ---------
Foreign
Reverse currency Non-controlling
Share Share acquisition translation Retained interest
Group capital premium reserve reserve loss Total Total
EUR EUR EUR EUR EUR EUR EUR EUR
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
As at 1 January
2016 7,068,808 9,281,835 (4,016,334) 278,056 (3,277,903) 9,334,462 194,834 9,529,296
Loss for the
period
Other
comprehensive
income for the
period
- items that
may
be subsequently
reclassified
to profit or
loss - - - - (418,277) (418,277) 2,817 (415,460)
Currency
translation
difference (800,095) (800,095) (800,095)
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Total
comprehensive
income for the
period - - - (800,095) (418,277) (1,218,372) 2,817 (1,215,555)
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Share based
payment
transactions
Shares issued
net
of issue costs - - - - 28,835 28,835 - 28,835
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Total
transactions
with owners,
recognized
directly in
equity - - - - 28,835 28,835 - 28,835
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
As at 30 June
2016 7,068,808 9,281,835 (4,016,334) (522,039) (3,667,345) 8,144,925 197,651 8,342,576
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
As at 1 January
2016 7,068,808 9,281,835 (4,016,334) 278,056 (3,277,903) 9,334,462 194,834 9,529,296
Loss for the
financial
year - - - - (1,610,190) (1,610,190) 11,233 (1,598,957)
Other
comprehensive
income for the
period
- items that may
be subsequently
reclassified
to profit or
loss
Currency
translation
difference - - - (920,569) - (920,569) - (920,569)
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Total
comprehensive
income for the
year - - - (920,569) (1,610,190) (2,530,759) 11,233 (2,519,526)
---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Share based
payment
transactions - - - - 44,002 44,002 - 44,002
Non-controlling
interest
arising on
business
combination - - - - - - - -
Shares issued
net
of issue costs - - - - - - - - ---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- ----------- Total transactions with owners, recognized directly in equity - - - - 44,002 44,002 - 44,002 ---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- ----------- As at 31 December 2016 7,068,808 9,281,835 (4,016,334) (642,513) (4,844,091) 6,847,705 206,067 7,053,772 ---------------- --------- --------- ----------- ----------- ----------- ----------- ----------------- -----------
Group Cash Flow Statements
For the six months ended 30 June 2017
Six months Six months Year to 31
to 30 June to 30 June December
2017 2016 2016
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
------------------------------- ----------- ----------- -----------
Loss for the period before
tax (556,268) (412,374) (1,487,973)
Impairment provisions 776,238
Depreciation of property,
plant and equipment 39,173 10,108 24,232
Impairment of intangible
assets 102,885 3,300 39,190
Loss/(Gain) on sale of fixed
assets 73 185 (13,168)
Expenses settled by the issue
of shares 16,569 28,835 44,002
Foreign exchange losses (11,162) (348,780)
Finance income / (costs)
net (98) 9,216 19,890
Decrease / (Increase) in
trade and other receivables 869,626 (102,550) (767,394)
(Decrease) / Increase in
payables (720,327) 284,330 851,646
-------------------------------- ----------- ----------- -----------
Cash generated from/(used
in) operations (259,529) (178,950) (862,117)
Interest expense (285) (9,673) (20,631)
Tax paid 29,189 (21,011) (190,516)
Net cash generated from/(used
in) operating activities (230,625) (209,634) (1,073,264)
-------------------------------- ----------- ----------- -----------
Cash flows generated (used
in) investing activities
Purchases of intangible assets (261,673) (245,456) (421,840)
Purchases of property, plant
and equipment (159,768) (16,622) (123,965)
Interest received 98 457 741
Net cash used in investing
activities (421,343) (261,621) (545,064)
-------------------------------- ----------- ----------- -----------
Net increase in cash and
cash equivalents (651,968) (471,255) (1,618,328)
Exchange (losses) (30,051) (462,307) (169,309)
Cash and cash equivalents
at beginning of period 2,052,005 3,839,642 3,839,642
Cash and cash equivalents
at end of period 1,369,986 2,906,080 2,052,005
-------------------------------- ----------- ----------- -----------
Major non-cash transactions
During the period, the Company issued 1,929,560 new ordinary shares in consideration for the acquisition of of a further 7.12% of the issued share capital of Codd & Date srl.
1 Basis of preparation
The financial information contained in this half year financial report does not constitute statutory accounts as defined in section 434 of the Companies Act 2006. The financial information for the half years ended 30 June 2017 and 30 June 2016 has been neither audited nor reviewed by the auditors.
The figures and financial information for the period ended 31 December 2016 are extracted from the latest published audited financial statements of the Group and do not constitute the statutory financial statements for that period.
The audited financial statements for the period ended 31 December 2016 have been filed with the Registrar of Companies. The report of the independent auditors on those financial statements contained no qualification or statement under section 498(2) or section 498(3) of the Companies Act 2006.
The financial information has been prepared in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRIC interpretations. The financial information has been prepared under the historical cost convention. The statutory financial statements are prepared in accordance with IFRSs as adopted by the European Union.
The Group has applied consistent accounting policies in preparing the interim financial statements for the six months ended 30 June 2017, the comparative information for the six months ended 30 June 2016, and the financial statements for the period ended 31 December 2016.
As permitted, the Company has chosen not to adopt IAS 34 "Interim Financial Statements" in preparing this interim financial information.
The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these half-yearly financial statements.
2 Total revenue
Total revenue comprises:
Six months Six months Year
to 30 to 30 to 31
June June December
2017 2016 2016
(Unaudited) (Unaudited) (Audited)
Revenue from external customers: EUR EUR EUR
--------------------------------- ----------- ----------- ---------
Licence and deployment fees 2,011,130 1,693,328 3,890,841
Consultancy 1,577,988 1,540,071 2,875,060
Transactional /loyalty revenue 168,627 105,015 221,974
Support and maintenance charges 592,800 445,826 916,573
Other fees 196 257 949
--------------------------------- ----------- ----------- ---------
4,350,741 3,784,497 7,905,397
--------------------------------- ----------- ----------- ---------
3 Earnings per share
Basic earnings per share has been calculated by dividing the loss on ordinary activities after taxation by the weighted average number of shares in issue during the year. None of the share based payments were potentially dilutive at the year end and so there is no difference between the basic and diluted loss per share.
Six months Six months Year
to 30 to 30 to 31
June June December
2017 2016 2016
(Unaudited) (Unaudited) (Audited)
Loss on ordinary activities
after taxation attributable
to owners of the parent EUR587,078 EUR418,277 EUR1,610,190
Number of shares 259,257,725 258,490,165 258,490,165
--------------------------------- ------------ ------------ ------------
Earnings per share (Euro cents) (0.23) (0.16) (0.62)
--------------------------------- ------------ ------------ ------------
4 Share capital
Called up share capital
At 30 June 2017, there were 260,419,725 Ordinary shares of 1p each in the Company in issue.
Warrants and options
As at 30 June 2017, there were 11,000,000 warrants in issue and options to subscribe for 13,475,000 outstanding.
5 Availability of Interim Report
Copies of the Company's Interim Results are available on the Company's website www.vipera.com .
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BLGDCIUGBGRS
(END) Dow Jones Newswires
September 05, 2017 02:00 ET (06:00 GMT)
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