![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Base Grp. | LSE:BS. | London | Ordinary Share | GB0000566389 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6280S Base Group PLC 28 November 2003 Base Group plc Unaudited Interim Results for Base Group plc for the 6 months ended 31 August 2003 Chairman's Statement I am pleased to present the unaudited interim results for the Base Group plc for the six months ended 31 August 2003. Trading during the period was extremely disappointing with turnover reducing to #332,000 (6 months to 30 June 2002: #428,000) and losses before goodwill amortisation and impairment amounting to #744,000 (6 months to 30 June 2002: loss of #511,000). Following this performance, the Board were left with no choice but to review the ongoing viability of the group's trading operations, particularly bearing in mind the new "transfer window" system which would mean that only one month of football transfers would take place in the second six months of the financial year. As I reported on 13 November 2003, and following discussions with the company's advisers, Collins Stewart, the Board agreed to sell the entire issued share capital of the group's trading subsidiaries, Base Soccer Agency Limited and Time Management Global Limited for #1 each, to Base Sport Limited, a company owned by Leon Angel, a former director of Base Group plc. This decision was taken following a review of projected cash flow which indicated that, without the sale of the businesses, the group was likely to run out of working capital by late Spring 2004. Following the sale of the only trading operations, Base Group plc has now become a shell company, retaining its AIM quotation and approximately #350,000 of free cash. On-going overheads are minimal, only representing necessary "plc" costs. The Board is now actively exploring all avenues with a view to maximising shareholder value including potential acquisitions. Adrian Bradshaw 28 November 2003 For further information, contact Adrian Bradshaw 020 7495 5524 Base Group plc Unaudited results for 6 months ended 31 August 2003 Consolidated Profit and Loss Account 6 months 6 months 14 months to 31/8/03 to 30/6/02 to 28/2/03 (Unaudited) (Unaudited) (Audited) Note #000 #000 #000 Turnover Continuing operations 332 407 1,479 Acquisition - 21 53 332 428 1,532 Cost of sales (108) (205) (366) Gross profit 224 223 1,166 Administrative expenses (746) (511) (1,749) Goodwill amortisation and impairment 3 (391) (1,026) (1,711) - - (1,137) (1,537) (3,460) Operating loss (913) (1,314) (2,294) Net interest receivable 8 35 57 Loss on ordinary activities before taxation (905) (1,279) (2,237) Taxation - - - Loss for the financial period (905) (1,279) (2,237) Loss per ordinary share: Basic 4 (0.11)p (0.16)p (0.28)p Diluted (0.11)p (0.15)p (0.28)p Operating (loss) before exceptional items can be analysed between continuing and discontinued operations as follows: 6 months 6 months 14 months to 31/8/03 to 30/6/02 to 28/2/03 (Unaudited) (Unaudited) (Audited) #000 #000 #000 Continuing operations (913) (714) (1,599) Acquisitions - (600) (695) (913) (1,314) (2,294) Consolidated Balance Sheet 6 months 6 months 14 months to 31/8 to 30/6/02 to 28/2/03 /03 (Unaudited) (Unaudited) (Audited) #000 #000 #000 Fixed Assets Intangible assets 1,293 484 - Tangible assets 37 44 41 37 1,337 525 Current Assets Debtors 317 444 341 Cash at bank and in hand 575 1,466 1,043 892 1,910 1,384 Creditors: Amounts falling due (452) (691) (428) within one year Net current assets 440 1,219 956 Total assets less current liabilities 477 2,556 1,481 Capital and reserves Called up share capital 8,399 7,975 8,399 Shares to be issued 640 99 - Share premium account 3,011 3,011 3,011 Other reserves 3,330 3,330 3,330 Profit and loss account (14,263) (12,400) (13,358) Equity shareholders' funds 477 2,556 1,481 Consolidated cash flow statement for the 6 months ended 31st August 2003 6 months 6 months 14 months to 31/8/03 to 30/6/02 to 28/2/03 (Unaudited) (Unaudited) (Audited) Note #000 #000 #000 Net cash outflow from operating 1 (474) (528) (851) activities Returns on investments and servicing of finance Net interest received 8 35 57 Capital expenditure Payments for tangible fixed (2) (33) (42) assets Acquisitions and disposals Acquisition of subsidiary undertakings, net of cash borrowings - (642) (755) acquired Cash outflow before financing (468) (1,168) (1,591) Financing - - - Decrease in cash in the (468) (1,168) (1,591) period Reconciliation of movements in shareholders' funds for the 6 months ended 31 August 2003 6 months 6 months 14 months to 31/8/03 to 30/6/02 to 28/2/03 (Unaudited) (Unaudited) (Audited) #000 #000 #000 Loss for the (905) (1,279) (2,237) financial year Shares issued - 300 724 Cancellation of shares to (99) - - be issued Shares to be issued recognised in - 100 (424) prior years Decrease in shares to be - - (17) issued (1,004) (879) (1,954) Opening 1,481 3,435 3,435 shareholders' funds Closing 477 2,556 1,481 shareholders' funds Notes to the Interim Accounts 1 . Reconciliation of operating loss to net cash flow from operating activities 6 months 6 months 14 months to 31/8/03 to 30/6/02 to 28/2/03 Unaudited Unaudited Audited #000 #000 #000 Operating loss (913) (1,314) (2,294) Goodwill amortisation and impairment and 1,644 depreciation 391 1,026 Working capital movements: Debtors 27 (113) (5) Creditors 21 (127) (196) Net cash outflow from operating activities (474) (528) (851) 2 . This interim report was neither audited nor reviewed by the auditors. It does not constitute statutory accounts within the meaning of s240 of the Companies Act 1985, but has been prepared using the accounting policies set out in the Group's 2002 Statutory Accounts. The financial information for the 14 months ended 28 February 2003 was derived from the latest Group accounts which have been filed with the Registrar of Companies and received an unqualified audit report which did not contain statements under s237 (2) or (3). 3 . The goodwill that arose on the acquisition of Icon Management Services Limited, parent company of Base Soccer Agency Limited ("Base Soccer"), and the acquisition of Time Management Global Limited ("TMG'') have been impaired to zero value as at 31 August 2003 in view of the subsequent sale of "Base Soccer" and "TMG" for #1 each on 13 November 2003. 4 . Loss per share were calculated on the group loss for the financial period and on the weighted average number of ordinary shares during the period of 839,944,149 (30 June 2002 : 784,269,672). 5 . The Board approved these Interim Accounts on 28 November 2003. This information is provided by RNS The company news service from the London Stock Exchange END IR EAAFPAALDFFE
1 Year Base Group Chart |
1 Month Base Group Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions