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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| World Careers | LSE:WOR | London | Ordinary Share | GB0002677085 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 235.00 | 210.00 | 260.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMWOR
RNS Number : 2672W
World Careers Network PLC
26 April 2016
WORLD CAREERS NETWORK PLC
Interim statement for the six months to 31 January 2016
Chairman's statement
Hot Features
Premium
Dear Shareholder
I am pleased to present the interim accounts of World
Careers Network ("WCN") for the half year to 31 January
2016.
Financial Review
Half year revenues were up 7.5% to GBP3.76m compared
to GBP3.50m at the same time last year. Costs, however,
rose by just over GBP200k compared to the first half
of 2014-15, leaving the profit for the half year at
GBP360k slightly ahead of last year's GBP309k.
The income from implementations fell during the last
half year as large scale assignments were completed
but this was more than compensated by the increase
in support fees from sales secured in the second half
of our previous financial year.
Outlook
We expect to see a significantly higher level of costs
during the second half of the year as we increase
both our support and sales teams. These investments
are required to ensure a high level of ongoing service
to our clients and to drive future growth.
At the time of my last Chairman's statement I indicated
that I expected to see a significant reduction in
profitability in the current financial year. In the
event certain of our investment plans took longer
to implement than expected.
I, therefore, expect our profits for the year to be
broadly in line with last year but I anticipate that
the cumulative impact of the additional costs we are
incurring in this year will, inevitably, be felt in
our next financial year
I would like to thank the WCN team for their dedication
to our clients and their ongoing support in developing
the business.
Charles Hipps
Chairman, World Careers Network Plc
----------------------------------------------------------
WORLD CAREERS NETWORK PLC
consolidated income statement
For the 6 Months Ended 31 January 2016
Note Unaudited Unaudited Audited
6 months 6 months Year to
ended ended
31 Jan 2016 31 Jan 2015 31 Jul
2015
GBP GBP
Revenue 3,766,688 3,503,799 7,856,506
Administrative expenses 3,420,988 3,217,073 6,701,553
_________ _________ _________
Operating Profit 345,700 286,726 1,154,953
Finance income 19,061 22,643 42,926
_________ _________ _________
Profit on ordinary
activities before taxation 364,761 309,369 1,197,879
Taxation on profit
on ordinary activities 75,000 62,000 262,500
_________ _________ _________
Profit on ordinary
activities after taxation 289,761 247,369 935,379
_________ _________ _________
Earnings per share
Basic 3.83p 3.26p 12.29p
_________ _________ _________
Diluted 3.75p 3.18p 12.04p
_________ _________ _________
WORLD CAREERS NETWORK PLC
Consolidated Statement of Financial Position
As at 31 January 2016
Unaudited Unaudited Audited
31 January 31 January 31 July
2016 2015 2015
Note GBP GBP GBP GBP GBP GBP
Assets
Non-current
assets
Property,
plant and
equipment 138,707 102,896 116,743
Current assets
Trade and
other
receivables 2,019,806 2,039,184 2,567,678
Cash and
cash
equivalents 9,212,497 8,318,212 8,219,388
Total current
assets 11,232,303 10,357,396 10,787,066
Total assets 11,371,010 10,460,292 10,903,809
Equity
Issued capital 7,560 7,624 7,559
Share premium 1,592,962 1,581,302 1,591,703
Capital redemption
reserve 689 614 689
Translation
reserve 9,966 - 9,966
Retained
earnings 7,113,307 6,539,972 7,088,194
Total equity 8,724,484 8,129,512 8,698,111
Liabilities
Non-current
liabilities
Deferred
tax 6,945 6,945 11,843
Liabilities
Current liabilities
Trade and
other
payables 2,547,985 2,262,813 2,042,599
Income tax 91,596 61,022 151,256
Total current
liabilities 2,639,581 2,323,835 2,193,855
Total liabilities 2,646,526 2,330,780 2,205,698
Total equity
and liabilities 11,371,010 10,460,292 10,903,809
WORLD CAREERS NETWORK PLC
Consolidated statement of cash flows
For the 6 Months Ended 31 January 2016
Unaudited Unaudited Audited
6 months 6 months Year to
ended ended
31 Jan 2016 31 Jan 2015 31 July
2015
GBP GBP GBP
Cash flows from operating
activities
Operating profit 345,700 286,726 1,154,953
Depreciation 81,267
Exchange difference on 42,378 40,452
translation of foreign
operations - - 9,966
Share based payments 7,500 7,500 17,710
(Increase)/decrease in
receivables 547,872 35,580 (492,914)
Increase/(decrease) in
payables 497,885 359,472 146,761
_________ _________ _________
1,441,335 729,730 917,743
Taxation (139,558) (319,376) (424,745)
_________ _________ _________
Net cash inflow from operating
activities 1,301,777 410,354 492,998
_________ _________ _________
Cash flows from investing
activities
Interest received 19,061 22,643 42,926
Purchase of property, plant
and equipment (64,341) (35,205) (89,868)
_________ _________ _________
Net cash outflow from investing
activities (45,280) (12,562) (46,942)
_________ _________ _________
Cash flows from financing
activities
Proceeds from issue of
shares 1,260 15,572 25,983
Purchase of own shares - - (157,500)
Equity dividends paid (264,648) (266,646) (266,645)
_________ _________ _________
Net cash outflow from financing
activities (263,388) (251,074) (398,162)
_________ _________ _________
Increase in cash in the
year 993,109 146,718 47,894
Cash and cash equivalents
at beginning of year 8,219,388 8,171,494 8,171,494
_________ _________ _________
Cash and cash equivalents
at end of year 9,212,497 8,318,212 8,219,388
_________ _________ _________
WORLD CAREERS NETWORK PLC
(MORE TO FOLLOW) Dow Jones Newswires
April 26, 2016 02:00 ET (06:00 GMT)
Notes to the interim financial statements
1 a) The basic earnings per share has been calculated
by dividing the profit by the weighted average
number of shares in issue during the relevant
periods.
b) The diluted earnings per share takes into account
the potential issue of further shares as a result
of the exercise of share options.
2 This interim report was approved by the board
of directors on 25 April 2016
The financial information contained in this interim
report does not comprise statutory accounts as
defined by the Companies Act 2006.
The interim financial information has been prepared
using accounting polices consistent with those
adopted by World Careers Network Plc in its financial
statements for the year ended 31 July 2015.
The financial information for the year ended
31 July 2015 is an extract from the latest company
accounts. These accounts received an unqualified
auditor's report and have been filed with the
Registrar of Companies.
The financial information for the periods ended
31 January 2015 and 2016 is unaudited and has
not been reviewed by the company's auditors.
3 Interim Report
A copy of the Interim Report will be distributed
to shareholders shortly and will be available
from World Careers Network at 5-7 Bridgeworks,
The Crescent, London SW19 8DR in the week commencing
12 May 2016
Enquiries
World Careers Network Plc
Charles Hipps, Managing Director,
Telephone: +44 (0)20 8946 9876
Email: chipps@wcn.co.uk.
Panmure Gordon (UK) Limited
Nominated advisor
Andrew Potts
Telephone: +44 (0)20 7886 2956
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BUGDSUGDBGLU
(END) Dow Jones Newswires
April 26, 2016 02:00 ET (06:00 GMT)
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