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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ridgecrest Plc | LSE:RDGC | London | Ordinary Share | GB0004251970 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNAK
RNS Number : 9378D
Nakama Group Plc
30 October 2015
For release at 07:00 on 30 October 2015
Nakama Group plc (AIM: NAK)
("Nakama" or "the Group")
"The AIM quoted recruitment consultancy working across UK, Europe, Asia and Australia providing staff for the Web, Interactive, Digital media, IT and Business Change sectors
announces its interim results for the six months ended 30 September 2015"
INTERIM RESULTS
Highlights
-- Profit before tax GBP169,000 (2014: profit GBP222,000) -- Net fee income (NFI) rose by 11% to GBP3.0 million (2014: GBP2.7 million) -- NFI increased to 28% (2014: 25%) -- Permanent recruitment fees increased by 32.1% to GBP1.75 million (2014: GBP1.33 million) -- Revenue across the APAC region increased by 18.4%*
*On constant currency the increase would have been 27%
Rob Sheffield, CEO of Nakama, commented:
"Since September we have conducted a widespread review of all Group operations with a specific emphasis on sales. The Group strategy for growth in all regions is a key focus aligning all offices and enabling the business to grow globally".
Enquiries:
Nakama Group plc www.nakamaglobal.com Rob Sheffield, CEO Tel: 0061 498 127 326 Ken Ford, Chairman Tel: 07884 313191 WH Ireland Limited Paul Shackleton (NOMAD) Tel: 0207 220 1666 Johnny Martin Smith (Broking) Peckwater PR Tel: 07879 458 364 Tarquin Edwards tarquin.edwards@peckwaterpr.co.uk
NOTES TO EDITORS
About Nakama Group plc
Nakama Group plc is a recruitment group of two branded solutions placing people into specialist and management positions;
-- Nakama operates in the digital, creative, media, marketing and technology sectors all over the world from offices in the UK, Asia and Australia.
-- The Highams brand specialises in the Financial Services sector, specifically Business Change and IT in Insurance and Wealth Management currently in the UK and Europe.
Nakama Group plc was created in October 2011 through the merging of Nakama Ltd UK and its subsidiaries in Hong Kong, Sydney and Melbourne and Highams Recruitment Limited (formerly Highams Systems Services Group plc).
Since forming in 2011, the Group has opened an office in Singapore for Digital, Creative, Media and Marketing.
Our aim is to offer all our services from both our brands in all our locations.
CEO'S STATEMENT
Interim results
Introduction
Nakama provides a range of specialist recruitment services to its clients, providing staff for the Web, Interactive, Digital Media, IT and Business Change sectors through the placement of contract and permanent staff across the UK, Europe, Asia and Australia.
The Group revenue of GBP10.6 million (2014: GBP11.1 million) shows a small decrease but with an increase in Net Fee Income (NFI) to GBP3.0 million (2014: GBP2.7 million). As a percentage of Revenue, NFI increased to 28 per cent. (2014: 25 per cent).
Segmental analysis shows that we have increased our revenue in the APAC region whilst UK revenues have decreased slightly. We have seen NFI increase due to a shift away from low margin contract business to higher permanent placements ("Perm") in our specialist sectors. Staff levels across the Group have risen in all offices which is reflected in an increased staff cost.
We are currently in line with our expectations for the first half of the year and we anticipate no significant changes in trading in the second half. The business continues to focus on quality of service and the professional delivery of our products to our customers. A key focus is to continue to improve contract margins and drive Perm revenues whilst growing our headcount and providing industry specific training. We have seen some impact by Foreign Exchange losses on revaluation of intercompany debt for the first half of the year (GBP37k).
Summary
Since September we have conducted a widespread review of all Group operations with a specific emphasis on sales. "The Group strategy for growth in all regions is a key focus aligning all offices and enabling the business to grow globally"
Rob Sheffield
CEO
30 October 2015
Consolidated statement of comprehensive income for the six months ended 6 months 6 months 12 months 30 September 2015 to to to 30 Sep 30 Sep 31 Mar 2015 2014 2015 Unaudited Unaudited Audited Note GBP'000 GBP'000 GBP'000 Total Revenue 3 10,649 11,089 21,715 Cost of sales (7,636) (8,388) (16,394) ----------- ---------- ---------- Net Fee Income 3,013 2,711 5,321 Administrative costs (2,827) (2,467) (4,985) ----------- ---------- ---------- Operating profit 3 186 244 336 Finance costs (17) (22) (39) ----------- ---------- ---------- Profit on ordinary activities before taxation 169 222 297 Tax expenses 0 2 (53) Profit for the period attributable to equity shareholders 169 224 244 =========== ========== ========== Basic Profit per share 0.14 p 0.19 p 0.21 p Diluted Profit per share 0.13 p 0.19 p 0.19 p Consolidated statement of recognised income and expense for the 6 months ended 6 months 6 months 12 months 30 September 2015 to to to 30 Sep 30 Sep 31 Mar 2015 2014 2015 Unaudited Unaudited Audited GBP'000 GBP'000 GBP'000 ----------- ---------- ---------- Profit for the period 169 224 244 Exchange gains/(losses) arising on translation of foreign operations 10 (9) (8) ------------------------------------ ----------- ---------- Total recognised income and expense for the period attributable to equity shareholders 179 215 236 ----------- ---------- ----------
Statement of changes in equity
At 30 September 2015
Employee share Share Share Merger benefit Currency Retained Total capital premium reserve reserve Reserve earnings equity GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 At 1 April 2014 1,602 2,580 90 (61) 73 (2,652) 1,632 Comprehensive income for the year Profit for the Year - - - - - 244 244 Other Comprehensive Income - - - - (8) - (8) Total Comprehensive profit for the year - - - (8) 244 216 ---------------------- --------- --------- --------- --------- ---------------------- ---------- -------- Share based payment credit - - - - - 7 7 At 1 April 2015 1,602 2,580 90 (61) 65 (2,401) 1,875 ---------------------- --------- --------- --------- --------- ---------------------- ---------- -------- Income for the year - - - - - 169 169 Other comprehensive income - - - - 10 - 10 ---------------------- --------- --------- --------- --------- ---------------------- ---------- -------- Total Comprehensive income for the year 1,602 2,580 90 (61) 75 169 179 ---------------------- --------- --------- --------- --------- ---------------------- ---------- -------- Share based payment credit - - - - - - - At 30 September 2015 1,602 2,580 90 (61) 75 (2,232) 2,054 Consolidated statement of financial position As at 30 September 2015
(MORE TO FOLLOW) Dow Jones Newswires
October 30, 2015 03:00 ET (07:00 GMT)
6 months 6 months 12 months to to to 30 Sep 30 Sep 31 Mar 2015 2014 2015 Unaudited Unaudited Audited GBP'000 GBP'000 GBP'000 Assets Non-current assets Intangible assets 761 940 848 Property, plant and equipment 70 40 67 Deferred tax asset 178 226 178 Total 1,009 1,206 1,094 -------------------------------- ---------- ---------- ---------- Current assets Trade and other receivables 4,281 3,927 3,514 Cash and cash equivalents 498 194 316 Total 4,779 4,121 3,830 -------------------------------- ---------- ---------- ---------- Total assets 5,788 5,327 4,924 -------------------------------- ---------- ---------- ---------- Liabilities Current liabilities Trade and other payables (2,137) (2,273) (1,978) Borrowings (1,597) (1,202) (1,071) Total (3,734) (3,475) (3,049) -------------------------------- ---------- ---------- ---------- Net assets/(liabilities) 2,054 1,852 1,875 -------------------------------- ---------- ---------- ---------- Equity Share capital 1,602 1,602 1,602 Share premium account 2,580 2,580 2,580 Merger reserve 90 90 90 Employee share benefit trust reserve (61) (61) (61) Currency reserve 75 64 65 Retained earnings (2,232) (2,423) (2,401) Total equity 2,054 1,852 1,875 ---------- ---------- ---------- Consolidated Cash Flow Statement As at 30 September 2015 6 months 12 months 6 months to to to 30 Sep 31 Mar 30 Sep 2015 2014 2014 Unaudited Unaudited Audited GBP'000 GBP'000 GBP'000 Operating activities Profit /(loss)before taxation 169 222 297 Depreciation of property, plant and equipment 27 17 33 Amortisation of intangible assets 88 96 192 Net finance costs 17 22 39 Tax paid - 2 (1) Changes in trade and other receivables (767) (721) (311) Changes in trade and other payables 37 595 300 ------------ Net cash used in operating activities (428) 233 549 Cash flows from investing activities Purchase of property plant and equipment (30) (10) (58) Purchase of intangible asset - - (4) Proceeds from sale of assets - - 1 Net cash used in investing activities (30) (10) (61) ------------ --------------- ---------- Financing activities Increase/(decrease) in borrowings 526 (117) (469) Finance cost paid (17) (22) (39) --------------- ---------- Net cash from financing activities 509 (139) (508) ------------ --------------- ---------- Net changes in cash and cash equivalents 51 84 (20) Cash and cash equivalents, beginning of period 95 114 114 Exchange losses, cash and cash equivalent 8 (4) 1 Cash and cash equivalents at end of period 154 194 95 Cash and cash equivalents for the purposes of the Statement of cash flows comprises: Cash and cash equivalent 498 599 316 ------------ --------------- ---------- Bank overdrafts (344) (405) (221) ------------ --------------- ---------- 154 194 95 ------------ --------------- ----------
Notes to the Interim Report
1. Basis of Preparation
This unaudited consolidated interim financial information has been prepared using the recognition and measurement principles of International Accounting Standards, International Financial Reporting Standards and Interpretations adopted for use in the European Union (collectively EU IFRSs). The principal accounting policies used in preparing the interim results are those that the Group expects to apply in its financial statements for the year ended 31 March 2016 and are unchanged from those disclosed in the Group's Annual Report for the year ended 31 March 2015, except that in the current financial year, the Group had adopted a number of revised standards and interpretations. However, none of these has had a material impact on the Group's reporting.
The financial information for the six months ended 30 September 2015 and 30 September 2014 is unreviewed and unaudited and does not constitute the Group's statutory financial statements for those periods. The comparative financial information for the full year ended 31 March 2015 has, however, been derived from the audited statutory financial statements for that period. A copy of those statutory financial statements has been delivered to the Registrar of Companies. The auditors' report on those accounts was unqualified, did not include references to any matters to which the auditors drew attention by way of emphasis without qualifying their report and did not contain a statement under section 498(2)-498(3) of the Companies Act 2006.
The financial information in the Interim Report is presented in Sterling and all values are rounded to the nearest thousand pounds (GBP'000) except when otherwise indicated.
2. Earnings per share
6 months 6 months 12 Months to 30 to 30 to 31 Sept Sept March 2015 2014 2015 Unaudited Unaudited Audited Weighted Weighted Weighted average average average number number number of Profit of Profit of Profit per per per Profit shares share Profit shares share profit shares share GBP'000 '000 p GBP'000 '000 p GBP'000 '000 p Basic earnings per share 169 117,791 0.14 224 117,791 0.19 244 117,791 0.21 Diluted earnings per share 169 126,469 0.13 224 117,791 0.19 244 126,571 0.19
3. Segmental Analysis
The Group has two main reportable segments based on the location revenue is derived from: Asia Pacific - This segment includes Australia, Hong Kong and Singapore UK -The UK Segment includes candidates placed in the UK and Europe. These segments are monitored by the board of directors. Factors that management used to identify the Group's reportable segments The Group's reportable segments are strategic business units that although supplying the same product offerings, operate in distinct markets and are therefore managed on a day to day basis by separate teams. Measurement of operating segment profit or loss, assets and liabilities The Group evaluates performance on the basis of profit or loss from operations before tax not including overhead costs incurred by the head office such as plc AIM related costs not recharged, exceptional items, amortisation and share based payments.
(MORE TO FOLLOW) Dow Jones Newswires
October 30, 2015 03:00 ET (07:00 GMT)
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