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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hansard Global Plc | LSE:HSD | London | Ordinary Share | IM00B1H1XF89 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 46.00 | 44.20 | 47.80 | 22,797 | 12:48:51 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Ins Agents,brokers & Service | 91.7M | 5.7M | 0.0414 | 11.11 | 63.28M |
RNS Number:1534Q Hansard Group PLC 25 September 2003 Embargoed Release: 0700hrs 25th September 2003 Hansard Group Plc Interim Results for the six months ended 31st August 2003 Highlights *Profit after tax #15,000 for the period *Increased client base *A number of new mandates won, which will benefit the second half of the year Chief Executive's Statement As highlighted in our year-end statement, we have already taken on a number of new clients which has contributed to higher than expected revenues and shows a healthy improvement on our final results for the twelve months ended 28th February 2003. We have continued to take advantage of the positive trend in the small to medium cap sector by winning several high quality IPO mandates. During the period we announced the end of discussions with Sky Venture Capital Inc. in respect of an offer for the entire share capital of Hansard Group Plc. After careful consideration the Boards of both companies decided that this transaction was not suitable at this time. The Board is now pleased to be focussing on growing its client and revenue base and, if this momentum continues, I look forward to reporting much improved year-end results. For further information please contact: Adam Reynolds, Chief Executive, Hansard Group Plc 0207 245 1100 Paul Foulger, Finance Director, Hansard Group Plc 0207 245 1100 Mark Percy, Seymour Pierce Limited 020 7107 8000 Hansard Group Plc Consolidated Profit and Loss Account For The Six Months Ended 31 August 2003 6 Months to 6 Months to 12 Months to 31 August 2003 31 August 2002 28 February 2003 (unaudited) (unaudited) (audited) #'000 #'000 #'000 Turnover 319 309 617 --------- --------- --------- Cost of Sales (6) (29) (33) --------- --------- --------- Gross Profit 313 280 584 --------- --------- --------- Administrative expenses (298) (273) (661) --------- --------- --------- Operating profit/(loss) 15 7 (77) Interest receivable 5 10 19 Amounts written off - - (45) investments --------- --------- --------- Interest payable (1) (1) (3) --------- --------- --------- Profit/(loss) on ordinary 19 16 (106) activities before taxation Taxation (4) - 25 --------- --------- --------- Retained Profit/(loss) for the 15 16 (81) financial period Earnings/(loss) per share Pence Pence Pence -Basic and diluted earnings/ 0.13 0.14 (0.72) (loss) per ordinary share The profit and loss has been prepared on the basis that all operations are continuing operations. There were no recognised gains or losses other than those passing through the profit and loss account. Consolidated Balance Sheet As at 31 August 2003 as at as at as at 31 August 31 August 28 February 2003 2002 2003 (unaudited) (unaudited) (audited) #'000 #'000 #'000 Fixed assets Tangible assets 117 40 128 ----------- ----------- ------------ Investments - - - ----------- ----------- ------------ Current assets 117 40 128 Debtors 166 164 134 Investments 289 105 174 ----------- ----------- ------------ Cash at bank and in hand 218 456 333 ----------- ----------- ------------ 673 725 641 Creditors: amount falling due (244) (195) (238) within one year ----------- ----------- ------------ Net current assets 429 530 403 ----------- ----------- ------------ Total assets less current 546 570 531 liabilities ----------- ----------- ------------ Provisions for liabilities and - (3) - charges ----------- ----------- ------------ Total assets and liabilities 546 567 531 =========== =========== ============ Capital and reserves Called up share capital 118 111 118 Share premium account 637 583 637 Merger reserve (29) (29) (29) ----------- ----------- ------------ Profit and loss account (180) (98) (195) ----------- ----------- ------------ Equity shareholders' funds 546 567 531 =========== =========== ============ Hansard Group Plc Consolidated Cash Flow Statement For The Six Months Ended 31 August 2003 Note 6 Months to 6 Months to 12 Months to 31 31 28 August 2003 August 2002 February 2003 (unaudited) (unaudited) (audited) #'000 #'000 #'000 Net cash inflow/ 5 2 (15) 15 (outflow) from operating activities Returns on investments and servicing of finance Interest received 5 10 19 -------- -------- -------- Interest paid (1) (1) (3) -------- -------- -------- Net cash inflow for 4 9 16 returns on investments and servicing of finance Taxation paid - - (9) Capital expenditure -------- -------- -------- Payments to acquire (6) - (51) tangible assets -------- -------- -------- Net cash outflow for (6) - (51) capital expenditure Acquisition and disposals Acquisition of - - (5) subsidiary undertaking -------- -------- -------- Equity dividend paid - - - -------- -------- -------- Net cash inflow/ - (6) (34) (outflow) before management of liquid resources and financing Management of liquid resources Current asset (115) (63) (177) investments -------- -------- -------- Bank deposits 107 70 201 -------- -------- -------- Net cash (outflow)/ inflow for management of liquid resources (8) 7 24 Financing -------- -------- -------- Issue of ordinary - - - share capital -------- -------- -------- Net cash inflow from - - - financing -------- -------- -------- (Decrease)/Increase in 6 (8) 1 (10) cash ======== ======== ======== Notes to interim results for the six months ended 31 August 2003 1. Basis of Preparation The results for the six months ended 31st August 2003 are unaudited and have not been reviewed by the auditors. They have been prepared on accounting bases and policies that are consistent with those used in the preparation of the financial statements of the group for the year ended 28th February 2003. The financial statements contained in this report do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. The results for the year ended 28th February 2003 were reported on by the auditors and received an unqualified audit report. Full accounts for the year ended 28th February 2003 have been delivered to the Registrar of Companies. 2. Dividends No dividend is proposed for the six months ended 31st August 2003. 3. Taxation The tax charge represents deferred tax arising on the reversal of timing differences relating to deferred tax assets. 4. Earnings Per Share The calculation of basic earnings per share is based on the profit after tax of #15,000 and on 11,792,647 ordinary shares being the weighted average number of ordinary shares in issue during the period. There is no dilutive effect of options and warrants due to the fair price of the shares during the period being less than the exercisable price of those options and warrants. 5. Reconciliation of operating profit/(loss) to net cash inflow/(outflow) from operating activities 6 months to 31 6 months to 31 12 months to 28 August 2003 August 2003 February 2003 #'000 #'000 #'000 Operating profit/(loss) 15 7 (77) Depreciation 17 5 22 (Increase)/decrease in (36) (22) 69 debtors --------- --------- ---------- Increase/(decrease) in (6) (5) 1 creditors --------- --------- ---------- Net cash inflow(outflow) from 2 (15) 15 operating activities --------- --------- ---------- 6. Analysis of net (debt)/funds As at 28 Feb Cash Flow As at 31 Aug 2003 Movements 2003 #'000 #'000 #'000 Net Cash: Cash at Bank 8 (8) - --------- -------- --------- Bank overdrafts (72) - (72) --------- -------- --------- Net funds (64) (8) (72) --------- -------- --------- Liquid Resources: Current Asset investment 174 115 289 --------- -------- --------- Bank deposits 325 (107) 218 --------- -------- --------- 499 8 507 --------- -------- --------- Net funds/(debts) 435 - 435 ========= ======== ========= 7. Copies of Interim Results Copies of the Interim Results will be sent to Shareholders shortly and will be available to members of the public from the Company's registered office, 14 Kinnerton Place South, London SW1X 8EH. This information is provided by RNS The company news service from the London Stock Exchange END IR NKQKQOBKDPCB
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