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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nettworx | LSE:NTWX | London | Ordinary Share | GB00B0TLVX30 | 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% | 6.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 3573E Nettworx PLC 26 September 2008 Nettworx Plc 26 September 2008 NETTWORX PLC INTERIM RESULTS FOR THE PERIOD TO 30 JUNE 2008 Nettworx Plc was established in order to acquire companies and businesses which can benefit from the convergence of voice, video, data, fixed line and mobile networks, and was admitted to trading on AIM on 21 December 2005. Since this date, the Company has amended its strategy to allow the Company to invest in special situations and to include investments in companies where it does not necessarily take 100% control. In April 2008 Sim4Travel repaid £500,000 of the 5% Convertible Loan Note 2008, resulting in Nettworx's cash available for future acquisitions or investments increasing to £8.7m. The consultancy agreement between the Company and Sim4Travel was subsequently terminated. The balance outstanding on the Loan Note and the remaining equity investment in Sim4Travel have been fully provided for. The Directors continue to have discussions in a number of areas which they hope will prove to be constructive building blocks in the development of the group. The Directors will continue to report on developments as they progress. Highlights - Profit per share for the six months to June 2008 was 0.11 pence - At the period end, the Company had cash at bank of £8.7m For further information contact Jonathan Rowland - Nettworx Plc 020 7087 7975 Mark Williams - Canaccord Adams Limited 020 7050 6500 NETTWORX PLC Notes Six months Ended 30 Six months Ended 30 June 2007 June 2008 (unaudited) (unaudited) PROFIT AND LOSS ACCOUNT £ £ Net operating expenses (104,363) (96,484) OPERATING LOSS (104,363) (96,484) Net interest receivable 252,874 165,710 PROFIT ON ORDINARY ACTIVITIES 148,511 69,226 BEFORE TAXATION (30,445) (11,880) Taxation RETAINED PROFIT FOR THE PERIOD 118,066 57,346 Profit per ordinary 3 0.11 0.05 share-Basic (pence) 3 0.11 0.05 Profit per ordinary share-Diluted (pence) NETTWORX PLC Notes Six months Ended 30 Six months Ended 30 June 2007 June 2008 (unaudited) (unaudited) Balance Sheet £ £ CURRENT ASSETS Investment - 1,937,972 Debtors 16,220 36,591 Cash at bank 8,728,391 7,716,256 8,744,611 9,690,819 CREDITOR AMOUNTS FALLING DUE (95,486) (102,768) WITHIN ONE YEAR NET ASSETS 8,649,125 9,588,051 CAPITAL AND RESERVES Called up share capital 1,110,000 1,110,000 Share premium account 8,398,488 8,398,488 Profit and loss account (859,363) 76,563 EQUITY SHAREHOLDERS' FUNDS 8,649,125 9,588,051 NETTWORX PLC Notes Six months Ended 30 Six months Ended 30 June 2008 June 2007 (unaudited) (unaudited) CASHFLOW STATEMENT £ £ Net cash inflow/ (outflow) 4 444,428 (65,533) from operating activities 5 252,874 165,710 Return on investments and servicing of finance (11,880) Taxation (1,937,972) Investing activities CASH INFLOW/ (OUTFLOW) BEFORE 697,302 (1,849,675) FINANCING - - Financing INCREASE/DECREASE IN CASH IN 697,302 (1,849,675) THE PERIOD RECONCILIATION OF MOVEMENT IN Six months Ended 30 Six months Ended 30 June EQUITY SHAREHOLDERS' FUNDS June 2008 2007 (unaudited) (unaudited) £ £ Profit for the period 118,066 57,346 Net addition shareholders' 118,066 57,346 funds 8,531,059 9,530,705 Opening equity shareholders' funds Closing equity shareholders' 8,649,125 9,588,051 funds Nettworx Plc NOTES TO THE INTERIM REPORT 1 The company was incorporated on 4th October 2005 and was admitted to the Alternative Investment Market (AIM) on 21st December 2005, when it commenced its business. The unaudited interim accounts for the period ending 30th June 2008 have been prepared on the basis of the accounting policies expected to apply for the current financial period, under the historical cost convention and in accordance with applicable accounting standards. The financial information contained in this report does not constitute statutory accounts for the company within the meaning of section 240 of the Companies Act. 2 The directors do not recommend the payment of a dividend. 3 The basic and diluted earnings per share are based on the profit for the financial period of £118,066 and the following weighted average number of shares in issue during the period ending 30th June 2008. Basic 111,000,000 Diluted 111,000,000 4 Reconciliation of operating loss to net cash inflow / (outflow) from operating activities Six Months ended 30 Six Months ended 30 June 2007 June 2008 (unaudited) (unaudited) Operating loss (104,363) (96,484) Increase in creditors 63,521 66,267 Decrease / (Increase) in 485,270 (35,316) debtors Net cash inflow / (outflow) 444,428 (65,533) from operating activities 5 Returns on investment and servicing of finance Six Months ended 30 Six Months ended 30 June 2008 June 2007 (unaudited) (unaudited) Bank interest 252,875 165,710 Net cash inflow from returns 252,875 165,710 on investments and servicing of Finance 6 This interim statement will be sent to all shareholders and is also available from the company's registered office at 5 Savile Row, London, W1S 3PD This information is provided by RNS The company news service from the London Stock Exchange END IR DGGZLKKFGRZM
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