Final Results -4-

For the year ended 31 January 2012

 
                                                                               2012       2011 
                                                                             GBP000     GBP000 
---------------------------------------------------------------  ------------------  --------- 
 
 (Loss)/profit before tax                                                  (22,124)     29,340 
 Adjustment for non-cash items: 
 Foreign exchange                                                                20      (268) 
 Interest paid                                                                   80        171 
 Interest received                                                             (11)       (30) 
 Depreciation                                                                    30         22 
 Share based payment                                                            115        109 
 Unrealised loss/(gain) on revaluation of portfolio investment               24,774   (26,177) 
 Realised gain on disposal of portfolio investments                         (1,456)    (2,870) 
 Realised gain on disposal of other trading investments                       (673)       (84) 
 Unrealised (gain)/loss on other trading investments                          (523)      2,167 
 
 Operating cash inflow                                                          232      2,380 
 
 Sale of portfolio Investments                                               12,489     25,145 
 Purchase of portfolio investments                                          (4,248)    (2,133) 
 Purchase of trading securities                                            (18,196)   (28,203) 
 Sale of trading securities                                                  21,130     17,519 
 Increase in trade and other recievables                                    (3,063)       (18) 
 Decrease in trade and other payables                                          (23)       (52) 
 Taxation over provision in prior period                                        (8)          - 
 Taxation paid/(refunded)                                                        10      (183) 
---------------------------------------------------------------  ------------------  --------- 
 Net cash generated from operations                                           8,323     14,455 
---------------------------------------------------------------  ------------------  --------- 
 INVESTING ACTIVITIES 
 Interest received                                                               11         30 
 Interest paid                                                                 (80)      (171) 
 Purchase of property plant and equipment                                         -       (89) 
 Net cash used in investing activities                                         (69)      (230) 
---------------------------------------------------------------  ------------------  --------- 
 FINANCING ACTIVITIES 
 Purchase of own shares                                                       (418)      (248) 
 Purchase of shares for cancellation                                       (14,851)   (26,335) 
---------------------------------------------------------------                      --------- 
 Net cash used in financing activities                                     (15,269)   (26,583) 
---------------------------------------------------------------  ------------------  --------- 
 DECREASE IN CASH AND CASH EQUIVALENTS                                      (7,015)   (12,358) 
 Cash and cash equivalents at start of year                                   9,032     21,122 
 Effect of foreign exchange rate changes                                       (22)        268 
---------------------------------------------------------------  ------------------  --------- 
 CASH AND CASH EQUIVALENTS AT END OF YEAR                                     1,995      9,032 
---------------------------------------------------------------  ------------------  --------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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