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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
OEM | LSE:OEM | London | Ordinary Share | GB0006572241 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1639U OEM PLC 30 March 2007 OEM plc FINAL INTERIM RESULTS For the six months ended 31st December 2006 The profit after taxation for the six months to 31 December 2006 was #86,000 (2005 #1,000). The interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). During the period the company has incurred reasonable operating overheads partly offset by interest income, and we are continuing to look for further development opportunities on behalf of both the company and our clients. With regard to the legal action against the estate of the late Brian Schneider, our previous chief executive, and other parties, I am pleased to report that we have received a further sum of #214,000 in settlement of our claim. The company is continuing to pursue redress through the courts but any further success cannot, of course, be guaranteed and please be aware that the company may not fully recover its losses. We do not recommend the payment of any dividend. I believe that there are some exciting projects awaiting the company and I have every confidence in the future. Robert P B Noonan 30 March 2007 OEM PLC INTERIM RESULT FOR THE SIX MONTHS ENDING 31 DECEMBER 2006 Summary Consolidated Income Statememt Audited Unaudited Unaudited year to 6 months to 6 months to 30 June 31 December 31 December 2006 2006 2005 #000 #000 #000 Continuing Operations 57 Revenue 15 20 (28) Cost of sales (10) (9) 29 Gross Profit 5 11 (567) Administrative expenses (248) (294) Other operating expenses 1,225 Exceptional item 214 200 687 Profit (Loss) from operations (29) (83) 273 Investment income 147 136 (100) Finance Costs (32) (52) 860 Profit (Loss) before tax 86 1 Tax 860 Profit (Loss) for 86 1 period 10.77 p Earnings (Loss) per share 1.08 p 0.01 (4.57) p Earnings (Loss) per share (1.60) p (2.50) (before exceptional costs) Summary Consolidated Cash Flow Statement Audited Unaudited Unaudited year to 6 months to 6 months to 30 June 31 December 31 December 2006 2006 2005 687 Operating profit (loss) (29) (83) 1 Depreciation (14) Movement in provisions (6) (6) (1,035) Decrease (increase) in debtors 571 (182) 454 Increase in creditors 174 213 93 Net cash from operating 710 (58) activities Investing activities (100) Interest paid (32) (52) 273 Interest received 147 136 Purchases of equipment (3) 0 (40) Purchase of unlisted investments 133 Net cash from investing 112 84 activities Financing activities 600 New bank loan raised (719) (Decrease) in bank (760) (76) overdrafts (119) Net cash (used) in (760) (76) financing activities 107 Net increase (decrease) in cash 62 (50) 75 Cash at beginning of period 182 75 182 Cash at end of period 244 25 Summary Consolidated Balance sheet Audited Unaudited Unaudited 30 June 31 December 31 December 2006 2006 2005 #000 #000 #000 Assets Non current assets 1 Property, plant & equip 4 2 40 Unlisted investments 40 0 3,673 Long term debts 3,820 3,537 3,714 3,864 3,539 Current assets 800 Inventories 800 800 1,944 Trade and other receivables 1,226 1,227 182 Cash 244 25 2,926 2,270 2,052 6,640 Total Assets 6,134 5,591 Equity & liabilities Capital & reserves (1,996) Share Capital (1,996) (1,996) (11) Capital Redemption Reserve (11) (11) (169) Merger reserve (169) (169) 1,296 Profit & Loss Account 1,211 2,154 (880) Total Equity (966) (22) Non current liabilities (2,334) Creditors (2,353) (2,343) (13) Provision for liabs & charges (7) (20) (2,347) (2,360) (2,363) Current liabilities (2,058) Creditors (2,213) (1,808) (1,355) Overdraft (595) (1,398) (3,413) (2,808) (3,206) (5,760) Total liabilities (5,168) (5,569) (6,640) Total Equity & liabilities (6,134) (5,591) Notes 1 The interim financial statements have been prepared on the basis of the accounting policies set out in the Group's 2006 statutory accounts. 2 Basic earnings (loss) per share are calculated by dividing the profit (loss) on ordinary activities after taxation by 7,985,793 being the number of ordinary shares in issue throughout this half year, the prior year and half year. 3 The results for the year ended 30 June 2006 are an abridged version of the Group's statutory accounts for that period which received an unqualified auditors report and have been filed with the Registrar of Companies. 4 Within the current year's figure is an amount of #214,000 received from one of the parties against whom OEM plc has taken legal action to recover unauthorised amounts paid by Mr Schneider. Previous Chaiman's statements have outlined the Company's position concerning Mr Schneider. This information is provided by RNS The company news service from the London Stock Exchange END IR OKKKBOBKD
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