![](/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 |
---|---|---|---|---|---|
Cmo Group Plc | LSE:CMO | London | Ordinary Share | GB00BMB5Y385 | 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% | 14.50 | 14.00 | 15.00 | 14.50 | 14.50 | 14.50 | 1,428 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Catalog, Mail-order Houses | 71.5M | -1.84M | -0.0255 | -5.69 | 10.44M |
RNS No 1590c COMINO PLC 26th November 1998 COMINO PLC 1998 INTERIM RESULTS PBT up 52%; EPS up 37%; Maiden Interim Dividend; Strong Order Book Comino plc ("Comino"), the supplier of software based business solutions for the social housing, local authority, pensions and clothing sectors, announces its Interim Results for the half year to 30 September 1998. The Interim Results are the second set of half year figures made by Comino since it went public in 1997. The profit for the six months represents 65% of the figure achieved for the whole of last year. Key Points from the Interim Results 1998 1997 * Turnover #8.72m #5.08m * Profit before tax #1.27m #830,000 up 52% * Earnings per share 7.24p 5.30p up 37% * Maiden interim dividend 1.25p nil * Results reflect improved performance from all operating companies and benefits from last year's acquisitions * New products and contract gains in all businesses Regarding Prospects, Garth Selvey, Chief Executive said: "Comino's financial and trading position at the half year is firmly on track. Cash balances amounting to #5.86 million represent 43p per share and a strong order book combined with solid recurring revenues gives high visibility for the future. Organic growth and acquisition both remain important elements of Comino's strategy. Growth is not significantly dependent on any aspect of millennium business and investment in product development will be maintained to ensure that we continue to have effective solutions for the new century." Enquiries : Garth Selvey, Chief Executive Paul Clifford, Finance Director Comino plc Tel: 0171 786 9600 until 11:30am; thereafter 01628 525433 Peter Binns Jane Mallinson Binns & Co Tel: 0171 786 9600 Editor's note: Comino has three operating companies: Context Computers based in Buckinghamshire, Prologic based in Hertfordshire, and ISE based in Leeds. Chief Executive's Statement Effective business solutions derive from the skilled application of sector knowledge and proven technology. Comino's results reflect the continuing demand for such solutions and the Group's ability to provide them. Comino is pleased to report results for the half year to 30 September 1998 which show a substantial increase in profit before tax and earnings per share compared with the same period last year. The Board wishes to thank the professional and hard working staff who have achieved performance improvements in all of the operating companies. Profit before tax for the period was #1.27 million, a 52% increase over the same period last year and earnings per share were up by 37% at 7.24p. The profit for the six months represents 65% of the figure achieved for the whole of last year. In addition to solid organic growth the results reflect acquisitions made during the course of last year. Excelsis has been successfully integrated into Context's housing operation and its new Aurora product is now widely installed. Prologic's breadth and quality of product has won seven new contracts since the year end compared with a total of five in the previous year. The purchase last year of the minority interest in ISE has resulted in a wholly owned high growth company whose application of workflow technology to business solutions is foremost in the industry. Since the year end ISE has won orders from nine Local Authorities including some of the country's largest revenue and benefit operations. A maiden interim dividend of 1.25p per share will be paid. The Company expects to pursue a progressive dividend policy which will ordinarily be paid in a one third to two thirds interim to final ratio. Comino's financial and trading position at the half year is firmly on track. Cash balances amounting to #5.86 million represent 43p per share and a strong order book combined with solid recurring revenues gives high visibility for the future. Organic growth and acquisition both remain important elements of Comino's strategy. Growth is not significantly dependent on any aspect of millennium business and investment in product development will be maintained to ensure that we continue to have effective solutions for the new century. Garth Selvey Chief Executive Comino plc - Group Profit and Loss Account 6 months to 6 months to Year to 30 September 30 September 31 March 1998 1997 1998 #'000 #'000 #'000 Turnover 8,721 5,087 13,151 Cost of sales (2,620) (1,839) (4,089) ---------- ---------- ---------- Gross profit 6,101 3,248 9,062 Administrative expenses (4,981) (2,510) (7,285) ---------- ---------- ---------- Operating profit 1,120 738 1,777 Net interest receivable 146 92 173 --------- --------- --------- Profit on ordinary activities before taxation 1,266 830 1,950 Tax on profit on ordinary activities (303) (201) (453) --------- --------- --------- Profit on ordinary activities after taxation 963 629 1,497 Minority interest - equity 0 (54) (56) -------- --------- --------- Profit for the financial period 963 575 1,441 Dividend proposed (175) 0 (330) --------- -------- --------- Retained profit for the period 788 575 1,111 -------- -------- -------- Earnings per share 7.24p 5.30p 12.33p --------- --------- --------- Fully diluted earnings per share 6.94p 4.89p 11.46p --------- --------- --------- Dividend per share 1.25p 0 2.50p ======= ======= ======= The dividend of 1.25p per share will be paid on 28 January 1999. The dividend record date is 11 December 1998. Comino plc - Consolidated Balance Sheet 30 September 30 September 31 March 1998 1997 1998 #'000 #'000 #'000 Tangible fixed assets 692 254 714 Current assets Stocks 376 226 291 Debtors 4,108 3,105 5,449 Cash at bank and in hand 5,859 4,005 4,329 --------- --------- --------- 10,343 7,336 10,069 Creditors falling due within one year (3,877) (1,964) (4,245) ---------- ---------- ---------- Net current assets 6,466 5,372 5,824 --------- --------- --------- Total assets less current liabilities 7,158 5,626 6,538 Creditors falling due after more than one year (381) (201) (118) Deferred income (4,243) (2,003) (4,705) ---------- --------- --------- 2,534 3,422 1,715 ======== ======= ======= Capital and reserves Share capital 678 552 657 Share premium account 4,334 1,867 4,324 Goodwill reserve (5,174) (434) (5,174) Profit and loss account 2,696 1,372 1,908 --------- -------- -------- Shareholders' funds 2,534 3,357 1,715 Minority interests 0 65 0 --------- -------- -------- 2,534 3,422 1,715 ======= ======= ======= Comino plc - Group Cash Flow Statement 6 months to 6 months to Year to 30 September 30 September 31 March 1998 1997 1998 #'000 #'000 #'000 Net cash inflow from operating activities 1,918 589 3,344 Net returns on investments and servicing of finance Interest received 146 92 173 --------- --------- ---------- 146 92 173 --------- --------- ---------- Tax paid 0 0 (299) Capital expenditure Purchase of tangible fixed assets (188) (81) (441) Sale of tangible fixed assets 21 2 3 --------- -------- --------- Net cash outflow from capital expenditure (167) (79) (438) ---------- --------- ---------- Acquisitions and disposals Acquisition of subsidiary undertakings 0 0 (1,688) --------- -------- ---------- Net cash inflow from acquisitions 0 0 (1,688) --------- -------- ---------- Equity dividends paid (334) 0 (201) Financing Issue of shares (net of costs) 31 1,514 1,521 Repayment of borrowings (64) (5) 62 ---------- --------- --------- Net cash inflow/(outflow) from financing (33) 1,509 1,583 ---------- -------- --------- Management of liquid resources Increase in short term deposits (1,800) (2,150) (1,200) ---------- --------- ---------- Increase/(decrease) in cash (270) (39) 1,274 ======== ======== ======== Increase/(decrease) in cash and liquid resources 1,530 2,111 2,474 Notes to the Interim Accounts 1. The charge for taxation is based on the estimated effective rate for the financial year allowing for tax losses brought forward from prior periods. 2. The calculation of earnings per share for the six months ended 30 September 1998 is based on the profit for the financial period of #963,000 (1997 - #575,000) and on 13,291,187 (1997 - 10,860,917) ordinary shares being the average number of shares in issue during the period. 3. The interim statement, which has been prepared on the same accounting basis as those set out in the financial statements for the year ended 31 March 1998, was approved by the Board on 25 November 1998. The foregoing financial information does not represent accounts within S240 of the Companies Act 1985 and has not been reported on by the auditors or delivered to the Registrar of Companies. 4. The above results for the year ended 31 March 1998 have been abridged from the full Group accounts for that year, which received an unqualified auditors' report and which have been delivered to the Registrar of Companies. Review Report by the Auditors to Comino plc We have reviewed the interim financial information for the six months ended 30 September 1998 which is the responsibility of, and has been approved by, the Directors. Our responsibility is to report on the results of our review. Our review was carried out having regard to the Bulletin 'Review of Interim Financial Information' issued by the Auditing Practices Board. This review consisted principally of applying analytical procedures to the underlying financial data, assessing whether accounting policies have been consistently applied, and making enquiries of management responsible for financial accounting matters. The review excluded audit procedures such as tests of control and verification of assets and liabilities, and was therefore substantially less in scope than an audit performed in accordance with Auditing Standards. Accordingly, we do not express an opinion on the interim financial information. On the basis of our review: i in our opinion the interim financial information has been prepared using accounting policies consistent with those adopted by Comino plc in its financial statements for the year ended 31 March 1998; and ii we are not aware of any material modifications that should be made to the interim financial information as presented. Grant Thornton Registered Auditors Chartered Accountants London 25 November 1998 END IR VEFFLVFKZFKF
1 Year Cmo Chart |
1 Month Cmo 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