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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Crystalband | LSE:CRYB | London | Ordinary Share | GB00B05R5L10 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.74 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2861O Crystalband PLC 30 June 2005 This announcement replaces the interim results announcement which was released today at 8.40 a.m. under the RNS number 25890. There is a change of text in the second paragraph of the Chairman's statement. The full amended text appears below. Crystalband PLC Unaudited Interim Financial Statements For the Six Months Ended 31 March 2005 Crystalband PLC ("the Company or Crystalband") Unaudited Interim Results for the Six Months Ended 31 March 2005 Chairman's Statement The Company acquired the entire issued share capital of Frame 1 (2004) Limited on 16 November 2004 and in the period under review, which is the Company's first since admission to Aim in February 2005, Group turnover was #1.1 million producing a loss before taxation of #0.6 million. A tremendous amount of operational rationalisation has been achieved in this six month period. Principally, the customer base has been transformed from low margin, low visibility and highly working capital intensive 'DIY sheds', to a higher visibility, long term social housing contract, worth in excess of #1 million p.a. in turnover, which is supplemented with an ever growing higher margin trade customer business. There has also been rationalisation of the cost base, principally manufacturing headcount reductions with associated redundancy costs. Rationalisation of the cost base will continue into the second half of the year, with further reductions in distribution and administration costs expected to deliver annualised savings of #0.4m at minimal cost. Now that a significant amount of rationalisation is complete, this has negated the need for a full time Finance Director and accordingly Stephen Collins will move to a part time position with immediate effect. Investment in new machinery is ongoing and the Schirma flow line, for which #0.5 million was raised via a placing in April 2005, is due to be installed before the end of the summer which should further enhance product quality and operational efficiency. With the further recent placing, a growing higher margin customer base and the benefits of the above changes now starting to come through the Directors look forward to the remainder of the year with confidence. The Company is expecting to be generating cash at the operational level before the end of the financial year in September. Gavin Johnson 30 June 2005 Crystalband PLC Group Profit and Loss Account Six Months ended 31 March 2005 Unaudited 6 months to 31 Mar '05 Note #'000 Turnover 1,108 Cost of sales (800) Gross Profit 308 Administrative expenses (945) Other operating income 47 Operating Loss (590) Exceptionals (68) Disposal of fixed assets 22 Interest receivable 5 Loss on Ordinary Activities Before Taxation (631) Tax on ordinary activities 0 Retained Loss (631) Earnings per share (pence) 2. (3.87)p Adjusted earnings per share (pence) 2. (3.54)p Crystalband PLC Group Balance Sheet As at 31 March 2005 Unaudited As at 31 Mar '05 Note #'000 #'000 Fixed Assets Intangible 4. 3,166 Tangible 5. 507 3,673 Current Assets Stock 163 Debtors 6. 2,071 Cash at bank and in hand 13 2,247 Creditors: Amounts Falling Due Within One Year 7. (2,277) Net Current Assets (30) Total Assets Less Current Liabilities 3,643 Creditors: Amounts Falling Due After More Than One Year 8. (1,969) Net Assets 1,674 Capital and Reserves Share capital 9. 112 Share premium 10. 2,193 Profit and loss account (631) Shareholders Funds 1,674 Crystalband PLC Group Cash Flow Statement Six Months ended 31 March 2005 Unaudited 6 months to 31 Mar '05 #'000 #'000 Net Cash Outflow from Operating Activities (163) Capital Expenditure Purchase of fixed assets (78) Net Cash Outflow from Capital Expenditure (78) Acquisition Share capital (660) Loan notes (3,200) Costs of acquisition (415) Cash acquired with subsidiary 186 Net Cash Outflow from Acquisition (4,089) Returns on Investment and Servicing Finance Interest received 5 Net Cash Inflow from Returns on Investments 5 Cash Outflow Before Financing (4,325) Financing Loan notes 1,600 Capital element of finance lease payments 18 Issue of shares 48 Share premium on issue of shares 2,672 Net Cash Inflow from Financing 4,338 Increase in Cash 13 Reconciliation of Operating Profit to Net Cash Outflow from Operating Activities Operating profit (590) Exceptionals (68) Depreciation 22 Amortisation of goodwill 54 Stock decrease 130 Debtors decrease 184 Creditors Increase 105 Net Cash Outflow from Operating Activities (163) Crystalband PLC Notes to the Interim Financial Statements Six Months ended 31 March 2005 1. The unaudited results for the six month period have been prepared on a basis consistent With the accounting policies of the Group and do not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. 2. The calculation of the basic earnings per share for the period is based on the profit after taxation divided by the average number of ordinary shares in issue, being 16,283,946. The calculation of the adjusted earnings per share for the period is based on the profit after taxation excluding goodwill amortisation divided by the average number of ordinary shares in issue, being 16,283,946. 3. The Group commenced trading on 16 November 2004 and therefore no comparative figures exist for the corresponding period in the preceding financial period. 4. Intangible Fixed Assets Goodwill #'000 Addition 3,220 Amortisation (54) Net book value 3,166 5. Tangible Fixed Assets Plant and Machinery #'000 Cost 451 Additions 78 Depreciation (22) Net book value 507 6. Debtors #'000 Trade debtors 364 Other debtors 1,707 2,071 7. Creditors: Amounts Falling Due Within One Year #'000 Trade creditors 394 Other taxation and social 63 security HP creditors 6 Other creditors 1,814 2,277 8. Creditors: Amounts Falling Due After More Than One Year #'000 HP creditors 12 Loan notes 1,600 External loans 357 1,969 9. Share Capital Authorised # 25,000,000 ordinary shares of 0.5p each 125,000 Allotted and Called Up # 22,469,734 ordinary shares of 0.5p each 112,349 10. Share Premium # Arising on issue of shares 2,671,733 Bonus Issue (64,080) Costs of issue of shares (414,464) 2,193,189 This information is provided by RNS The company news service from the London Stock Exchange END IR ILFEFRTIIVIE
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