Prime Focus London PLC Interim results and -2-

                                               Unaudited   Unaudited     Audited 
                                                6 months    6 months   12 months 
                                                ended 30    ended 30    ended 31 
                                              Sept. 2011   Sept.2010   Mar. 2011 
                                                 GBP'000     GBP'000     GBP'000 
 Cashflow from operating activities 
 Operating profit before taxation                  1,795       2,673       3,910 
 Net Finance Cost                                    397         210         130 
 Depreciation                                        570         521       1,111 
 Share based payment                                   -           -           - 
 Prior period adjustments                              -           -     (3,462) 
 (increase) in trade and other receivables       (6,966)     (3,553)    (10,299) 
 Increase in trade and other payables              3,077       (226)       2,631 
 (Increase) / decrease in inventories                  -         (7)         (8) 
                                             -----------  ----------  ---------- 
 Net cash inflow from operations                 (1,127)       (382)     (5,987) 
 
 Net interest paid                                 (397)       (210)       (130) 
 
 Net cash inflow/(outflow) from 
  operations                                     (1,524)       (592)     (6,117) 
 
 Taxation                                              -         365           - 
 
 Cashflow from investing activities 
 Purchase of tangible fixed assets               (1,829)     (1,636)     (2,361) 
 Purchase of investments available 
  for sale                                         (200)        (20)           - 
 Proceeds from sale of property, 
  plant and equipment                              2,745           -       9,116 
 Purchase of intangible assets                         -           -       (498) 
 Purchase of subsidiaries (net of                                              - 
  cash acquired)                                       -           - 
 Net cash inflow from investing 
  activities                                         716     (1,883)       6,257 
                                             -----------  ----------  ---------- 
 
 Cashflow from financing activities 
 Cash flow from decrease in debt 
  and lease financing                              (367)     (1,722)       (276) 
 Net receipts / (repayment) in respect 
  of 
  net parent & associate Loan                      (417)       3,163     (2,461) 
 Receipts of Bank and other loans                  1,877           -       2,673 
 Cashflow from issue of shares at                                              - 
  premium                                             27           - 
 Net cash inflow from financing 
  activities                                       1,120       1,441        (64) 
                                             -----------  ----------  ---------- 
 
 Net cash inflow                                     312       (442)          76 
 
 Cash and cash equivalents at the 
  start of the period                              1,300       1,224       1,224 
 
 Cash and cash equivalents at the 
  end of the period                                1,612         782       1,300 
                                             -----------  ----------  ---------- 
 

Consolidated statement of changes in equity

for the six months ended 30 September 2011

 
 
                                                                          Capital                   Fair 
                              Share                  Share             redemption                  Value   Retained     Total 
                            capital                premium                Reserve                Reserve   earnings    equity 
                            GBP'000                GBP'000                GBP'000                GBP'000    GBP'000   GBP'000 
 
 At 01 April 
  2011                        1,632                  6,498                    270                   (10)      (810)     7,580 
 
 Total 
  recognised 
  income for 
  the 
  period                          -                      -                      -                      -      1,795     1,795 
 Shares 
  Issued 
  during the 
  period                         10                     17                      -                      -          -        27 
 
 At 30 Sept 
  2011                        1,642                  6,515                    270                   (10)        985     9,402 
              ---------------------  ---------------------  ---------------------  ---------------------  ---------  -------- 
 

Notes to the interim results

1. GENERAL INFORMATION

Prime Focus London Plc (the "Company") is a company domiciled in England whose registered office address is 64 Dean Street, London W1D 4QQ. The condensed consolidated half-yearly financial statements of the Company for the six months ended 30 September 2011 comprise the Company and its subsidiaries (together referred to as "the Group").

The condensed consolidated half-yearly financial statements were authorised for issue on 29 December 2011.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation

The interim financial report comprises the results and balances of the Company and its subsidiaries (the Group) for the six month period ended 30 September 2011. They are unaudited and do not comprise statutory accounts in accordance with Section 434 of the Companies Act 2006.

The comparative period for the six months ended 30 September 2010 are also unaudited.

This set of interim financial statements has been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union. As required, the condensed set of financial statements has been prepared applying the accounting policies and presentation that were applied in the preparation of the Group's published consolidated financial statements for the year ended 31 March 2011 and should be read in conjunction with those annual financial statements, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union.

 
 
 
  3. EARNINGS PER SHARE 
                                            Unaudited    Unaudited      Audited 
                                             6 months     6 months    12 months 
                                                ended                     ended 
                                                   30     ended 30           31 
                                                Sept.                 Mar. 2011 
                                                 2011   Sept. 2010 
                                                  No.          No.          No. 
 Weighted average number of 5p ordinary 
  shares 
 in issue during the period                32,847,881   32,631,528   32,631,528 
 
 For basic earnings per share 
 Share Option                                 256,647      348,000      348,000 
 Weighted diluted average number of 
  5p ordinary shares                       33,104,528   32,979,528   32,979,528 
 
 Profit for the financial period 
 Profit for the period ended                1,795,112    2,673,269    3,801,814 
 
 Profit for earnings per share              1,795,112    2,673,269    3,801,814 
 
 Basic earnings per share                       5.46p        8.19p       11.65p 
 Diluted earnings per share                     5.42p        8.11p       11.53p 
 

4. AVAILABILITY OF ACCOUNTS

A copy is available on the Company's website at www.primefocusworld.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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