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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| New Media | LSE:NMLS | London | Ordinary Share | IE00B0RB0055 | ORD 2/3P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:9036M
New Media Lottery Services PLC
31 January 2008
31 JANUARY 2008
NEW MEDIA LOTTERY SERVICES PLC
("NMLS" or "the Company")
(Ticker:NMLS)
Interim Unaudited Results for the six months ended 31 October 2007
The Board of New Media Lottery Services PLC, the gaming content and systems
provider, today announces its interim results for the six months ended
31 October 2007.
KEY POINTS
* Increased revenue combined with a reduced cost base has significantly
cut losses in period;
* Revenue up 114% to Euro373k (six months to 31 October 2006: Euro174k);
* Client lottery website sales up by 145% to Euro10.217m (six months to 31
October 2006: Euro4.166m);
* Corresponding client player deposits increased by 154% to Euro766,600 (31
October 2007: Euro302,000).
BUSINESS HIGHLIGHTS
* Rehab Lottery Group represented the sole revenue generating programme
throughout the period;
* NMLS continues to pursue lottery opportunities and expects to announce
additional contracts throughout 2008;
* Continued cost focus to be targeted; and
* Server-based back office systems and games developed, tested and implemented
with an accelerated roll out to continue throughout 2008.
Lord Mancroft, Non-Executive Chairman at NMLS, commented: "NMLS has successfully
proven its lottery business model in Ireland and will soon launch an additional
lottery game site there. Other lottery programmes are expected to soon be
launched in additional markets. NMLS has also launched a relationship site in
Ireland. As well as creating additional revenues this will also provide
marketing support to its lottery programmes."
Commenting on the results, John Carson, Chief Executive Officer at NMLS, said:
"These last six months have been highly productive. We have identified future
business opportunities, streamlined our costs and are confident of improved
future trading."
---ends---
Enquiries:
New Media Lottery Services PLC (001) 540 437 1688
John Carson
www.nmlsplc.com
Bishopsgate Communications Ltd 020 7562 3350
Nick Rome
Michael Kinirons
www.bishopsgatecommunications.com
Arbuthnot Securities 020 7012 2000
Paul Vanstone
www.arbuthnotsecurities.co.uk
CHAIRMAN'S STATEMENT
I am pleased to present NMLS' interim results for the six months ended 31
October 2007. The Company has continued to progress during the period and
performance is in line with our expectations.
As a content and systems provider, NMLS provides white label lottery gaming
platforms to a number of International Lottery programmes including charities,
sports associations and state lottery organisations. Unlike many internet gaming
companies, NMLS only works with legitimate Government sanctioned Lottery
Programmes. It does not market to players in jurisdictions with regulatory
uncertainties such as North America.
Financials
Client site sales for the current period were Euro10.217m, compared to Euro4.166m for
the same period last year. This represents a 145% increase in client site sales.
The resulting net revenue to the company for this period was Euro373k compared to
Euro174k for six months to 31 October 2006, an increase of 114% in company revenue.
Administrative expenses were Euro1.162m, compared to Euro1.670m for the six months to
31 October 2006. Administrative expenses fell during the period due to an
increased focus on costs that included optimising staffing levels and reducing
the use of external consultants.
Losses for the six months to 31 October 2007 fell to Euro916k (loss of Euro1.561m in
the six months to October 2006). By combining our current and anticipated
additional revenues with our focus on streamlining costs we expect to continue
this favourable trend over the next year.
Review and Current Prospects
The Company has made a series of developments over the period. Our software
development group has now developed, tested and implemented NMLS' server-based
back office systems and games. The accelerated roll-out of this system and game
content will continue throughout 2008. In addition, NMLS has a number of
additional opportunities and has successfully ported some of its lottery
applications to Inspired Gaming Group's Open Server Based Gaming platform.
Together with Inspired Gaming, NMLS is currently exploring several additional
lottery opportunities.
Rehab Lotteries
RehabBingo.com, the site which New Media Lottery manages and markets on behalf
of Rehab Lotteries in Ireland, benefited from record sales during the period.
The site benefited from a growing profile on the back of a number of marketing
initiatives. During the first calendar quarter of 2008 NMLS will launch a
complimentary lottery site for Rehab.
Venezuela
Due to a change in currency in Venezuela, our banking providers and the
lotteries we plan to work with suggested we wait until the first quarter of 2008
in which to launch our programmes. Most of the costs of system development of
these programmes have already been incurred.
NMLS continues to leverage its investment in its software and expects to
announce additional contracts throughout 2008. Great care has been taken to
develop systems and content that can be efficiently utilized in multiple
jurisdictions. I would like to take this opportunity to thank our staff for
their support over this busy period and look forward to updating investors
further as to our progress at the time of our final results.
Lord B. Mancroft
Chairman
New Media Lottery Services Public Limited Company
Consolidated Income Statement
for the 6 months ended October 31st 2007
Continuing Operations
Interim Interim
6 Months YE 6 Months Final YE
Unaudited Audited Unaudited Audited
Note Oct-07 Apr-07 Oct-06 Apr-06
Euro Euro Euro Euro
Revenue 373,238 432,695 173,867 40,174
Administrative Expenses 8 -1,162,432 -2,990,050 -1,669,965 -1,088,572
Operating Loss -789,194 -2,557,355 -1,496,098 -1,048,398
Finance Costs -127,109 -139,125 -65,734 -81,671
Loss on Ordinary Activities -916,303 -2,696,480 -1,561,832 -1,130,069
before Taxation
Tax on Loss on Ordinary Activities - - - -
Loss for the period attributable to
Equity Shareholders -916,303 -2,696,480 -1,561,832 -1,130,069
Basic Loss per Ordinary Share -0.04 -0.11 -0.06 -0.05
Diluted Loss per Ordinary Share -0.04 -0.11 -0.06 -0.05
New Media Lottery Services Public Limited Company
Consolidated Balance Sheet
as at 31st October 2007
Interim Interim
6 Months YE 6 Months Final YE
Unaudited Audited Unaudited Audited
Oct-07 Apr-07 Oct-06 Apr-06
Euro Euro Euro Euro
Note
Non-Current Assets
Property, Plant and Equipment 24,085 33,789 150,239 33,365
Intangible Assets 206,533 230,967 71,392 78,767
230,618 264,756 221,631 112,132
Current Assets
Trade and Other Receivables 352,766 460,023 373,096 244,716
Cash and Other Equivalents 114,642 115,387 207,307 1,763,358
467,409 575,410 580,402 2,008,074
Total Assets 698,026 840,166 802,033 2,120,205
Equity and Liabilities
Equity attributable to equity
holders of the Parent
Issued Share Capital 3 241,618 241,618 240,621 238,130
Share Premium 4 3,845,565 3,845,566 3,771,935 3,619,414
Merger Reserve 5 539,377 539,377 539,377 539,377
Accumulated Loss 6 -7,710,672 -6,794,368 -5,659,717 -4,097,887
Total Equity -3,084,112 -2,167,807 -1,107,784 299,034
Current Liabilities
Trade and Other Payables
507,889 524,730 600,616 511,971
Bank Loan 7 1,727,951 1,281,113 - -
Other Liabilities 1,546,299 1,202,130 - -
3,782,139 3,007,973 600,616 511,971
Non-Current Liabilities
Other Liabilities - - 1,309,201 1,309,200
Total Liabilities
3,782,139 3,007,973 1,909,817 1,821,171
Total Equity and Liabilities 698,027 840,166 802,033 2,120,205
New Media Lottery Services Public Limited Company
Consolidated Cash Flow Statement
for the 6 months ended October 31st 2007
Interim Interim
6 Months YE 6 Months Final YE
Unaudited Audited Unaudited Audited
Oct-07 Apr-07 Oct-06 Apr-06
Euro Euro Euro Euro
Cash Outflow from Operating Activities
Operating Loss before Tax -916,303 -2,696,480 -1,561,832 -1,130,069
Depreciation 9,704 18,777 10,546 11,139
Intangible Assets Amortised 34,013 31,352 7,375 997
Increase in debtors -132,855 -128,377 -244,498
107,257
Increase in creditors -16,841 -94,310 88,645 -78,945
Costs incurred in exchange for shares - 31,002 - -
Finance Charges 127,109 139,125 65,734 81,671
Net Cash Outflow from Operating -655,061 -2,703,389 -1,517,909 -1,359,705
Activities
Cashflow from Investing Activities
Purchase of Property, Plant and Equipment -9,580 -19,202 -127,420 -19,979
Purchase of Intangible Assets - -59,542 - -79,764
Amounts advanced to Joint Venture - -7,825 - -
Net Cashflow used in Investing -9,580 -86,569 -127,420 -99,743
Activities
Cashflows from Financing Activities
Proceeds from the Issue of Shares - - 155,012 2,658,191
Transaction Costs on the Issue of - - - -665,105
Shares
Issue of Debentures - - - 1,309,201
Loan Proceeds / Repayments 791,006 1,281,113 - -
Finance Costs -127,109 -139,125 -65,734 -81,671
Net Cashflows from Financing 663,896 1,141,988 89,278 3,220,616
Activities
Net Increase / (decrease) in cash and
cash equivalents at 31st October -744 -1,647,970 -1,556,051 1,761,167
Cash and cash equivalents at beginning 115,387 1,763,357 1,763,357 2,190
of period
Cash and cash equivalents at end of 114,643 115,387 207,306 1,763,357
period
New Media Lottery Services Public Limited Company
Notes to the Consolidated Balance Sheet
as at 31st October 2007
1. Publication of Non-Statutory
Accounts
The financial information set out in this statement, does not constitute
statutory accounts within the meaning of Section 150 of the Companies Act 1963.
The financial information for the full preceding period is based on the
statutory accounts for the year ended 30th April 2007. Those accounts, on which
the auditors issued an unqualified opinion, have been delivered to the registrar
of Companies.
2. Accounting policies
The financial information has been prepared on the basis of the accounting
policies set out in the Group's statutory accounts for the year ended 30th April
2007.
3. Share Capital
Authorised Equity GBP£ GBP£ GBP£ GBP£l
150,000,000 Ordinary Shares of
GBP0.66667
pence each 1,000,000 1,000,000 1,000,000 1,000,000
Allotted, called up and fully paid equity Euro Euro Euro Euro
24,800,000 Ordinary Shares of
GBP0.66667
pence each (Apr 2007: 24,800,000)
241,618 241,618 240,621 238,130
Share Capital Movement
Opening Balance May 1st 2007 241,618
No movement on share capital
Closing Balance October 31st 2007 241,618
New Media Lottery Services Public Limited Company
Notes to the Consolidated Balance Sheet
as at 31st October 2007
4. Share Premium
Opening Balance May 1st 2007 3,845,566
No movement on share premium
Closing Balance October 31st 2007 3,845,566
5. Merger Reserve
Opening Balance May 1st 2007 539,377
No Movement
Closing Balance October 31st 2007 539,377
6. Accumulated Reserves
Opening Balance May 1st 2007 -6,794,368
Unaudited results - 6 me October 2007 -916,303
Closing Balance October 31st 2007 -7,710,671
7. Bank Loan
USD$
Opening Balance May 1st 2007 1,750,000
Advanced during period 750,000
Closing Balance October 31st 2007 2,500,000
The above loan is with Comerica Bank. This loan is repayable within the next 12 months.
New Media Lottery Services Public Limited Company
Notes to the Consolidated Balance Sheet
as at 31st October 2007
8. Administrative Expenses Interim Interim
6 Months YE 6 Months Final YE
Unaudited Audited Unaudited Audited
Oct-07 Apr-07 Oct-06 Apr-06
Euro Euro Euro Euro
Accountancy Fees & Audit Fees 46,558 251,710 68,500 36,942
Employee wages, salary and benefits 355,006 941,490 340,661 246,319
Directors Fees 180,019 433,654 183,790 59,500
Programming Costs 31,623 55,899 29,617 30,137
Other Administration Expenses 114,123 57,247 326,607 152,070
Foreign Exchange Gains and Losses -162,237 -140,574 29,491 110,321
Depreciation and Amortisation 43,718 51,126 17,921 12,136
Website Hosting 60,496 122,619 46,193 63,637
Advertising & Marketing 205,029 396,823 186,519 96,552
Consultancy Fees 87,066 323,041 131,553 121,746
Legal and Professional 82,651 298,046 151,739 105,607
Web Development - 6,646 71,988 3,159
Rent 42,450 75,513 35,285 11,691
Bingo Royalties 75,931 116,810 50,101 38,756
1,162,432 2,990,050 1,669,965 1,088,573
This information is provided by RNS
The company news service from the London Stock Exchange
END
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