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Share Name | Share Symbol | Market | Type |
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Cpi Corp. Common Stock | NYSE:CPY | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 1.19 | 0.00 | 01:00:00 |
RNS Number:0207T Contemporary Enterprises PLC 09 December 2003 CONTEMPORARY ENTERPRISES PLC Preliminary Results for the 17 month period ended 30 September 2003 Contemporary Enterprises plc acquired Ausped Limited an established software development company, in December 2002. Ausped provides innovative solutions to meet the increasing requirements for real-time, accurate, qualitative management information. Ausped specialises in developing Hand Held Computer applications to capture data for the purpose of compliance monitoring & auditing and is at the forefront of the use of Radio Frequency (RFID) technology. * Progress in broadening the largely blue-chip customer base and close to generating profitability in keeping with our anticipated increase in turnover * Added well researched systems to proven, existing ones * Energetically seeking to acquire companies that will broaden the range of services and systems offered. Commenting on prospects, Henry Edwards, Chairman, said: "The outlook remains positive and the company now has the largest and best ever portfolio of systems at its disposal. Coupled with the total commitment and professionalism of our staff, we face the future with confidence and the firm conviction for a successful outcome." 8 December 2003 Enquiries: Contemporary Enterprises plc Tel: 0870 011 2440 Tony Edwards, Finance Director College Hill Tel: 020 7457 2020 Richard Pearson Email: Richard.pearson@collegehill.com Contemporary Enterprises plc Chairman's Statement The company's strategy and operations progressed according to plan following the acquisition of Ausped Limited in December 2002. We are closer to achieving our aim to become the market leader in our sector in the UK and to generate profitability in keeping with our anticipated increase in turnover. As foreshadowed in the interim statement the reorganisation entailing increasing the staff establishment and promotional expenditure has had a temporary adverse impact on profitability. We have made useful progress in broadening the customer base consisting largely of blue chip companies and adding well researched systems to our proven existing ones. We expect to make a significant advance in the current year but are somewhat hampered by the hesitation of companies to award new contracts in spite of the improving economic climate. However there are indications that normality is returning in this respect. We have also energetically pursued our aim to acquire companies that will broaden the range of services and systems that we can offer and are very hopeful that our interests can be enlarged in the current financial year. The outlook remains positive and the company now has the largest and best ever portfolio of systems at its disposal. Coupled with the total commitment and professionalism of our staff we face the future with confidence and the firm conviction for a successful outcome. Henry Edwards Chairman Date: 8 December 2003 Contemporary Enterprises plc and Subsidiary Undertaking CONSOLIDATED PROFIT AND LOSS ACCOUNT for the 17 month period ended 30 September 2003 17 months to 18 months to 30 September 2003 30 April 2003 Continuing Acquisitions Total Operations 2003 2003 2003 2002 # # # # TURNOVER - 286,311 286,311 - Cost of Sales - 52,718 52,718 - _______ _______ _______ _________ GROSS PROFIT - 233,593 233,593 - Administrative expenses (100,811) (366,331) (467,142) (144,170) Operating loss before exceptional items and goodwill amortisation (100,811) (14,799) (115,610) (144,170) Exceptional items - restructuring costs - (61,426) (61,426) - Goodwill amortisation - (56,513) (56,513) - OPERATING LOSS (100,811) (132,738) (233,549) (144,170) Interest receivable and similar income 25,993 44,129 _______ _________ LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (207,556) (100,041) Taxation - - _______ _________ LOSS FOR THE PERIOD (207,556) (100,041) _______ _________ Basic and diluted loss per share (6.8p) (6.2p) _______ _________ Basic and diluted loss per share before exceptional items and amortisation of goodwill (2.9p) (6.2p) ________ _________ All recognised gains and losses are included in the profit and loss account. Contemporary Enterprises plc and Subsidiary Undertaking CONSOLIDATED BALANCE SHEET 30-Sep 30-Apr 2003 2002 # # FIXED ASSETS Intangible assets 1,452,243 - Tangible assets 25,009 - _________ _________ 1,477,252 - _________ _________ CURRENT ASSETS Stocks 2,456 - Debtors 110,723 13,367 Cash at bank and in hand 153,374 913,033 ________ _________ 266,553 926,400 CREDITORS: Amounts falling due within one year 97,767 14,491 ________ _________ NET CURRENT ASSETS 168,786 911,909 ________ _________ NET ASSETS 1,646,038 911,909 _________ _________ CAPITAL AND RESERVES Called up share capital 1,900,000 1,100,000 Merger reserve 141,685 - Profit and loss account (395,647) (188,091) _________ _________ SHAREHOLDERS' FUNDS - EQUITY 1,646,038 911,909 _________ _________ Contemporary Enterprises plc and Subsidiary Undertaking CONSOLIDATED CASH FLOW STATEMENT for the 17 month period ended 30 September 2003 17 months 18 months to to 30-Sep 30-Apr 2003 2002 # # Cash outflow from operating activities (194,417) (138,938) Returns on investments and servicing of finance 25,993 40,021 Taxation - - Capital expenditure and financial investment (27,495) - Acquisitions (406,329) _________ _________ CASH OUTFLOW BEFORE FINANCING (602,248) (98,917) Cash (outflow)/inflow from financing (157,411) 1,011,950 _________ _________ NET (DECREASE)/INCREASE IN CASH IN THE YEAR (759,659) 913,033 _________ _________ Notes 1. The financial information contained in this announcement does not constitute statutory accounts within the meaning of section 240 (5) of the Companies Act 1985 for either of the years ended 30 September 2002 or 2003. The comparative financial information for the year ended 30 September 2002 has been extracted from the statutory accounts for that year. The Annual Report and Accounts for the year ended 30 September 2002 has been filed with the Registrar of Companies. The auditors' report on those accounts was unqualified and did not contain any statement under section 237 (2) or (3). The financial information for the year ended 30 September 2003 has been extracted from the accounts for that year which will contain an unqualified audit report but which has yet to be delivered to the Registrar of Companies. 2. Loss per Ordinary share has been calculated using the weighted average number of shares in issue during the relevant financial period. The weighted average number of equity shares in issue was 3,067,954 (2002: 1,602,403) and the loss was #207,556 (2002: #100,041). The diluted earnings per share in 2003 and 2002 are calculated on the basis of basic earnings per share because the share warrants are not dilutive. The loss per ordinary share before exceptional items and amortisation of goodwill has been calculated using the weighted average number of shares in issue during the relevant financial period. The weighted average number of equity shares in issue was 3,067,954 (2002: 1,602,463) and the loss before exceptional items and amortisation of goodwill was #89,617 (2002: #100,041). The directors have provided this additional disclosure as they consider that it provides a better indication of the group's trading performance in the period. 3. Group statutory accounts will be sent to all shareholders shortly and additional copies are available from the company's registered office at 19 Cavendish Square, London W1A 2AW. This information is provided by RNS The company news service from the London Stock Exchange END FR UKUWROARURRA
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