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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 : 8827I
Vipera PLC
05 September 2016
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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5 September
2016
VIPERA PLC
("Vipera" or the "Company")
Interim results for six months ended 30 June 2016
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 2016.
Highlights:
-- Revenue EUR3.78 million: up 43% vs prior year (H1 2015: EUR2.63 million) -- Continued investment in expansion and in IP -- Operating loss EUR0.40 million (H1 2015: EUR0.52 million) -- Net Cash at period end EUR2.44 million (Dec 2015: EUR3.23 million) -- FX changes impact balance sheet post Brexit but no visible impact on operations -- First installation of a new retail solution for a major European retailer
Vipera CEO Marco Casartelli commented, "2016 has, so far, been a year of steady progress for Vipera, which has seen new product developments, deployments for new customers and the first installation of a new retail solution. We are encouraged by the appetite for our solutions by the financial services and banking industry, through a period of great uncertainty and look forward to progressing our growth further throughout the rest of 2016.
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
Simon Pearce (CMO) Tel: +44 (0) 20
Rita Borgo (PR) 7193 0833
Tel: +44 (0) 20
7097 8632
Tel: +39 335 131
6087
finnCap Ltd (Nomad and Broker) Tel: +44 (0) 20
Adrian Hargrave / Anthony Adams 7220 0500
(Corporate Finance)
Christian Hobart (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 2016 has been one of solid delivery of services and solutions to our customers. We have previously referred to the deployment of a new release of our mobile banking application at the leading UAE banking group Mashreq, working closely with them as they roll out a new operating environment for their own customer base. Our technical teams continue to innovate and adapt to our customers' needs in projects such as this as well as other deployments.
As our installed base grows there is an increase in recurring support and maintenance revenue and we now have staff dedicated to this role. We continue to deploy to new customers and we were very pleased to have launched the first installation of a new retail solution which we have developed and put into operation for a major European retailer.
Our sales and marketing team continue the long, but potentially very rewarding process of developing new sales channels. In addition to the marketing partnership with ExperienceLab, commented on previously, there are a number of initiatives being developed and we do hope to be able to say more later in the year.
Despite the well-publicised conditions for European banks, the demand for fintech solutions continue and there is strong interest in our offering of products and services, particularly Card Control. Our challenge is to convert these into active contracts and deployments on a timely basis.
In February we appointed an additional non-executive director, Jeremy Nicholds. He has extensive experience in the global payments field and has already been proactive in assisting the Company with strategic partnerships and sales.
The board does not feel that Brexit has had an immediate impact per se, but the drop in the value of the Pound versus the Euro has had an impact on the consolidated accounts which include the translation of certain Sterling denominated assets.
Looking ahead to the rest of the year, the financial result will, as noted in past years, be significantly dependent on the timing of transactions and in particular, the speed of customer decision-making. However, our expectation is that group revenues will show an increase over the previous year, continuing our track record of revenue growth for a seventh successive year.
Luciano Martucci
Chairman
Consolidated Statement of Comprehensive Income
For the six months ended 30 June 2016
Note Six months Six months Year
to 30 to 30 to 31
June June December
2016 2015 2015
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
------------------------------------- ---- ----------- ----------- -----------
Revenues 2 3,784,497 2,629,074 6,807,373
Operating expenses (4,187,655) (3,149,292) (7,439,295)
------------------------------------- ---- ----------- ----------- -----------
Operating loss (403,158) (520,218) (631,922)
Finance income 457 140 1,118
Finance costs (9,673) (5,298) (15,169)
Loss before taxation (412,374) (525,376) (645,973)
Taxation (3,086) (34,491) (154,943)
------------------------------------- ---- ----------- ----------- -----------
Loss for the period (415,460) (559,867) (800,916)
------------------------------------- ---- ----------- ----------- -----------
Other comprehensive income
Items that may be subsequently
reclassified to profit or
loss:
Currency translation difference (800,095) 323,175 114,018
Total comprehensive income
for the period (1,215,555) (236,692) (686,898)
------------------------------------- ---- ----------- ----------- -----------
Attributable to:
Owners of the parent (1,218,372) (252,703) (652,036)
Non-controlling interest 2,817 16,011 (34,862)
------------------------------------- ---- ----------- ----------- -----------
Total comprehensive income
for the period (1,215,555) (236,692) (686,898)
------------------------------------- ---- ----------- ----------- -----------
Loss per ordinary share attributable
to owners of the parent during
the period (expressed in
EURcents per share)
Basic and diluted 3 (0.16) (0.25) (0.33)
------------------------------------- ---- ----------- ----------- -----------
Consolidated Statement of Financial Position
As at 30 June 2016
Company number 05383355
Note 30 30 31
June June December
2016 2015 2015
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
------------------------------ ---- ----------- ----------- -----------
Non-current Assets
Goodwill 2,444,145 2,444,145 2,444,145
Intangible assets 3,009,510 3,038,543 3,106,280
Deferred taxation 519,424 844,110 517,956
Property, plant and equipment 54,881 67,243 48,887
Total non-current assets 6,027,960 6,394,041 6,117,268
------------------------------ ---- ----------- ----------- -----------
Current Assets
Trade and other receivables 3,199,197 2,943,505 3,096,647
Cash and cash equivalents 2,906,080 4,394,076 3,839,642
------------------------------ ---- ----------- ----------- -----------
Total current assets 6,105,277 7,337,581 6,936,289
------------------------------ ---- ----------- ----------- -----------
Current liabilities
Trade and other payables (2,679,027) (2,987,672) (2,250,643)
Borrowings (466,886) (244,917) (604,036)
Deferred revenue (498,786) (244,657) (505,690)
Current taxation (145,967) (11,727) (163,892)
------------------------------ ---- ----------- ----------- -----------
Total current liabilities (3,790,666) (3,488,973) (3,524,261)
------------------------------ ---- ----------- ----------- -----------
Net current assets 2,314,611 3,848,608 3,412,028
------------------------------ ---- ----------- ----------- -----------
Non-current liabilities
Deferred taxation - (350,707) -
Total non-current liabilities - (350,707) - ------------------------------ ---- ----------- ----------- ----------- Net Assets 8,342,571 9,891,942 9,529,296 ------------------------------ ---- ----------- ----------- ----------- EQUITY Share capital 4 7,068,808 7,044,337 7,068,808 Share premium 9,281,835 9,232,891 9,281,835 Reverse acquisition reserve (4,016,334) (4,016,334) (4,016,334) Shares to be issued - - - Foreign currency translation reserve (522,039) 487,213 278,056 Retained loss (3,667,350) (3,107,565) (3,277,903) ------------------------------ ---- ----------- ----------- ----------- Equity attributable to owners of the parent 8,144,920 9,640,542 9,334,462 Non-controlling interest 197,651 251,400 194,834 ------------------------------ ---- ----------- ----------- ----------- Total equity 8,342,571 9,891,942 9,529,296 ------------------------------ ---- ----------- ----------- -----------
Consolidated Statement of Changes in Equity
For the six months ended 30 June 2016
Attributable to equity shareholders of the parent
Foreign
currency Non-controlling
Reverse Shares translation interest
Share Share acquisition to be reserve Retained
Group capital premium reserve issued loss Total Total
EUR 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 - - - - - (418,277) (418,277) 2,817 (415,460)
Other
comprehensive
income for the
period - items
that may be
subsequently
reclassified
to profit or
loss
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 - - - - - 28,835 28,835 - 28,835
Shares issued - - - - - - - - -
net of issue
costs
-------------- --------- --------- ----------- -------- ----------- ----------- ----------- ----------------- -----------
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
-------------- --------- --------- ----------- -------- ----------- ----------- ----------- ----------------- -----------
Foreign
currency Non-controlling
Reverse Shares translation interest
Share Share acquisition to be reserve Retained
Group capital premium reserve issued loss Total Total
EUR EUR EUR EUR EUR EUR EUR EUR EUR
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
As at 1 January
2015 6,215,381 6,529,476 (4,016,334) - 164,038 (2,548,352) 6,344,209 278,611 6,622,820
Loss for the
period - - - - - (575,878) (575,878) 16,011 (559,867)
Other
comprehensive
income for the
period
- items that may
be subsequently
reclassified
to profit or
loss
Currency
translation
difference - - - - 323,175 - 323,175 - 323,175
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Total
comprehensive
income for the
period - - - - 323,175 (575,878) (252,703) 16,011 (236,692)
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Share based
payment
transactions - - - - - 16,665 16,665 - 16,665
Non-controlling
interest
arising on
business
combination - - - - - - - 5,693 5,693
Non-controlling
interest
arising on
business
disposal - - - - - - - (48,915) (48,915)
Shares issued
net
of issue costs 828,956 2,703,415 - - - - 3,532,371 - 3,532,371
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Total
transactions
with owners,
recognized
directly in
equity 828,956 2,703,415 - - - 16,665 3,549,036 (43,222) 3,505,814
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
As at 30 June
2015 7,044,337 9,232,891 (4,016,334) - 487,213 (3,107,565) 9,640,542 251,400 9,891,942
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
As at 1 January
2015 6,215,381 6,529,476 (4,016,334) - 164,038 (2,548,352) 6,344,209 278,611 6,622,820
Loss for the
financial
year - - - - - (766,054) (766,054) (34,862) (800,916)
Other
comprehensive
income for the
period
- items that may
be subsequently
reclassified
to profit or
loss
Currency
translation
difference - - - - 114,018 - 114,018 - 114,018
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Total
comprehensive
income for the
year - - - - 114,018 (766,054) (652,036) (34,862) (686,898)
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Share based
payment
transactions - - - - - 36,503 36,503 - 36,503
Non-controlling
interest
arising on
business
combination - - - - - - - (48,915) (48,915)
Shares issued
net
of issue costs 853,427 2,752,359 - - - - 3,605,786 - 3,605,786
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Total
transactions
with owners,
recognized
directly in
equity 853,427 2,752,359 - - - 36,503 3,642,289 (48,915) 3,593,374
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
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
---------------- --------- --------- ----------- -------- ----------- ----------- --------- ----------------- ---------
Group Cash Flow Statements
For the six months ended 30 June 2016
Six months Six months Year to 31
to 30 June to 30 June December
2016 2015 2015
(Unaudited) (Unaudited) (Audited)
EUR EUR EUR
---------------------------------- ----------- ----------- ----------
Loss for the period before
tax (412,374) (525,376) (645,973)
Depreciation of property,
plant and equipment 10,108 10,092 22,066
Impairment of intangible
assets 3,300 3,000 3,243
Loss on sale of fixed assets 185 1,921 1,921
Expenses settled by the issue
of shares 28,835 16,665 36,503
Finance costs (net) 9,216 5,158 14,051
(Increase)/decrease in trade
and other receivables (102,550) (105,975) (471,037)
Increase/(decrease) in payables 284,330 550,050 695,113
----------------------------------- ----------- ----------- ----------
Cash generated from/(used
in) operations (178,950) (44,465) (344,113)
Interest expense (9,673) (5,288) (15,169)
Tax paid (21,011) (69,965) (11,076)
Net cash generated from/(used
in) operating activities (209,634) (119,718) (370,358)
----------------------------------- ----------- ----------- ----------
Cash flows generated (used
in) investing activities
Purchases of intangible assets (245,456) (112,869) (315,075)
Purchases of property, plant
and equipment (16,622) (20,506) (34,417)
Payments to acquire subsidiary
undertaking - (5,925) -
Cash in subsidiary disposed
of - (29,736) (29,736)
Cash acquired with subsidiary
undertaking - 22,202 -
Interest received 457 139 1,118
Net cash used in investing
activities (261,621) (146,695) (378,110)
----------------------------------- ----------- ----------- ----------
Financing activities
Net proceeds from issue of
shares - 3,532,371 3,605,786
----------------------------------- ----------- ----------- ----------
Net cash generated from financing
activities - 3,532,371 3,605,786
----------------------------------- ----------- ----------- ----------
Net increase in cash and
cash equivalents (471,255) 3,265,958 2,857,318
Exchange (losses) (462,307) (29,294) (175,088)
Cash and cash equivalents
at beginning of period 3,839,642 1,157,412 1,157,412
Cash and cash equivalents
at end of period 2,906,080 4,394,076 3,839,642
----------------------------------- ----------- ----------- ----------
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 2016 and 30 June 2015 has been neither audited nor reviewed by the auditors.
The figures and financial information for the period ended 31 December 2015 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 2015 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 2016, the comparative information for the six months ended 30 June 2015, and the financial statements for the period ended 31 December 2015.
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
2016 2015 2015
(Unaudited) (Unaudited) (Audited)
Revenue from external customers: EUR EUR EUR
--------------------------------- ----------- ----------- ---------
Licence and deployment fees 1,693,328 1,173,140 3,845,525
Consultancy 1,540,071 1,353,505 2,455,496
Transactional /loyalty revenue 105,015 - 196,643
Support and maintenance charges 445,826 102,222 309,277
Other fees 257 207 432
--------------------------------- ----------- ----------- ---------
3,784,497 2,629,074 6,807,373
--------------------------------- ----------- ----------- ---------
3 Loss per share
Basic loss 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
2016 2015 2015
(Unaudited) (Unaudited) (Audited)
Loss on ordinary activities
after taxation EUR418,277 EUR575,878 EUR766,054
Number of shares 258,490,165 203,605,750 230,617,899
----------------------------- ------------ ------------ -----------
Loss per share (Euro cents) (0.16) (0.25) (0.33)
----------------------------- ------------ ------------ -----------
4 Share capital
Called up share capital
At 30 June 2016, there were 258,490,165 Ordinary shares of 1p each in the Company in issue.
Warrants and options
As at 30 June 2016, there were 11,000,000 warrants in issue and options to subscribe for 14,575,000 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 VLLFBQKFFBBF
(END) Dow Jones Newswires
September 05, 2016 02:00 ET (06:00 GMT)
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