Interim Results

RNS Number:3277K
Abraxus Investments PLC
20 December 2007


20 December 2007

                            Abraxus Investments PLC

                                Interim Results
                  for the six months ended 30 September 2007


Chairman's Statement

I am pleased to announce the interim results for the six months ended 30
September 2007. All comparatives are for the six months ended 30 September 2006.


Financial Results:

Turnover for the period was nil (2006 - nil) with an operating loss on ordinary
activities of £53,241 (6 months ended 30 September 2006 - loss £64,054). The
loss on ordinary activities after taxation was £14,933 (6 months ended 30
September 2006 - profit £44,144). The Board is not recommending the payment of a
dividend. At 30 September 2007, the Group had net assets of £1,497,291 (30
September 2006: £1,571,815) equivalent to 4.3p per share (30 September 2006:
4.6p per share).

Operational review

The Company's activities during the period under review were devoted to
identifying and investigating investment opportunities within Eastern Europe
which meet our stated investing strategy.

Conclusion

Following the resolution of the shareholder dispute which had deadlocked the
Company, considerable efforts have been made to identify suitable investment
opportunities within Eastern Europe. I am delighted to say that significant
progress has been made in this regard and I expect to be in a position to notify
shareholders in the near future.


David Sparks
Chairman





Profit and Loss Account
for the six months ended 30 September 2007
                                                  Unaudited          Unaudited              Audited
                                                       6m/e               6m/e           year ended
                                                  30-Sept07         30-Sept-06            31-Mar-07

Turnover                                                  -                  -                    -

Cost of sales                                             -                  -                    -

Gross profit                                              -                  -                    -

Administrative expenses                            (53,241)           (64,054)            (216,843)

Operating Loss                                     (53,241)           (64,054)            (216,843)

Profit on disposal of subsidiary                          -                  -               96,221
Interest receivable and similar income               38,308            108,198              105,447


(Loss) / Profit on ordinary activities before      (14,933)             44,144             (15,447)
taxation


Tax on profit on ordinary activities                      -                  -                    -

(Loss) / Profit on ordinary activities after       (14,933)             44,144             (15,447)
taxation

Minority interest                                         -                  -                    -

Retained (loss) / profit for the period            (14,933)             44,144             (15,447)





 Balance Sheet
as at 30 September 2007
                                                        Unaudited           Unaudited             Audited
                                                             6m/e                6m/e          year ended
                                                       30-Sept-07          30-Sept-06           31-Mar-07
Fixed assets
Tangible fixed assets                                           -                   -                   -
Current assets
Debtors                                                     2,500              14,350               5,903
Cash at bank and in hand                                1,597,706           1,642,857           1,641,334
                                                        1,600,206           1,657,207           1,647,237

Current liabilities                                     (102,915)            (85,392)           (135,013)

Net current assets                                      1,497,291           1,571,815           1,512,224

Total Net assets                                        1,497,291           1,571,815           1,512,224

Capital and reserves
Called up share capital                                 1,722,222           1,722,222           1,722,222
Share premium                                           7,435,193           7,435,193           7,435,193
Profit and loss account                               (7,660,124)         (7,585,600)         (7,645,191)
                                                        1,497,291           1,571,815           1,512,224




Unaudited Consolidated Cashflow
for the six months ended 30 September 2007
                                                                  Unaudited                    Unaudited
                                                                       6m/e                         6m/e
                                                                  30-Sep-07                    30-Sep-06

Net cash outflow from operating activities                         (81,936)                    (265,598)

Returns on investment and servicing of finance
Profit from sale of subsidiary                                            -                        8,256
Interest received and similar income                                 38,308                       99,942

Cash outflow before financing                                      (43,628)                    (157,400)


Sale of subsidiary                                                        -                    1,033,100
Fixed asset purchases in First AB kft                                     -                    (230,724)
Receipt of First AB loan repayment                                        -                      600,000


Movement in net funds in the period                                (43,628)                    1,244,976
Net funds at the start of the period                              1,641,334                      397,881
Net funds at the end of the period                                1,597,706                    1,642,857

Reconciliation of operating loss to operating cashflows
Operating loss                                                     (53,241)                     (64,054)
Decrease in debtors                                                   3,403                       89,388
Decrease in creditors                                              (32,098)                    (290,932)

Net cash outflow from operating activities                         (81,936)                    (265,598)


The interim results have been prepared in accordance with applicable United
Kingdom accounting standards, using the historical cost convention.  The
financial information for the half year ended 30 September 2007 was approved by
the Board on 20 December 2007.  The financial information contained in this
report does not constitute statutory accounts for the group for the relevant
periods.  The interim report is not audited, nor has it been reviewed by the
auditors.  The results for the year ended 31 March 2007 have been extracted from
the Annual Report and Accounts which received an unqualified auditor's report
that did not contain a statement under section 237(2) or (3) of the Companies
Act 1985, and have been delivered to the Register of Companies.

Copies of the interim results will be despatched to shareholders and the AIM
team shortly and will be available on the company's website
www.abraxusinvestmentsplc.com



For further information



Alex Borrelli      Shore Capital & Corporate Ltd                0207 408 4090


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