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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sky High | LSE:SKHG | London | Ordinary Share | GB00B1LCP739 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMSKHG
RNS Number : 7365D
Sky High PLC
08 December 2009
Sky High PLC
Interim Report for the Six Months to 30 September 2009
Sky High Plc ('Sky High' or the 'Group'), the traffic survey data company today
announces its results for the six months ended 30 September 2009.
Chairman's Statement
I am pleased to present the Interim Report for Sky High Plc for the six month
period to 30 September 2009.
The results show a profit of GBP113,000 (2008: GBP310,000) for the six month
period. Turnover was GBP2.58m in the period compared with GBP2.71m in the same
period the previous year. Trading in the first two months of the second half has
been strong.
The performance of Sky High Australia Pty has been disappointing in the six
months to 30 September 2009. Turnover in the period was GBP534,000 compared with
GBP570,000 in the same period the previous year. Sky High Australia Pty made a
loss of GBP62,000 in the period compared to a profit of GBP115,000 in the
previous period. The performance of Sky High Australia Pty has improved after
the half year end showing a healthy profit and is expected to break even this
year and return to profit in the year ended 31 March 2011. The Directors believe
that Sky High Australia Pty remains an important member of the Group, with
excellent long term prospects.
Trading performance in the UK has been very positive after a difficult start to
the year. Turnover in the period was GBP2.05m compared to GBP2.14m in the same
period the previous year. Turnover at the start of the year was behind target
due to adverse trading conditions but in recent months the traffic survey
business in the UK has experienced record sales orders and the UK business is
now performing to budget. Profit in the UK was GBP175,000 in the period compared
to GBP232,000 in the same period the previous year.
The costs of maintaining the Plc have increased in the period due to the travel
costs, management time and professional costs associated with managing the turn
around in the Australian subsidiary. The costs in the six months to 30 September
2009 were GBP73,000 compared with GBP37,000 in the same period the previous
year.
The Directors have approved the payment of an interim dividend of 0.5p per
share. The interim dividend will be paid on 29 January 2010 to shareholders on
the register on 4 January 2010. The ex-dividend date will be 30 December 2009.
The directors are committed to maintaining a sustainable and consistent dividend
policy but this needs to be balanced against the need to fund the company's
growth. The directors are hopeful of declaring a final dividend in due course.
Richard W W Jackson LLB
Chairman
7 December 2009
For further information, please contact:
+-------------------------------------+-------------------------------------+
| Sky High Plc | Astaire Securities Plc |
+-------------------------------------+-------------------------------------+
| Mark Mattison, Chief Executive | Shane Gallwey |
| Officer | |
+-------------------------------------+-------------------------------------+
| Tel: 01937 833 933 | Tel: 020 7448 4474 |
+-------------------------------------+-------------------------------------+
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six month period to 30 September 2009
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 6 months | | 6 months | | 12 months |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | ended | | ended | | ended |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 30 | | 30 | | 31 March |
| | | September | | September | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 2009 | | 2008 | | 2009 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| |Note | Unaudited | | Unaudited | | Audited |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Continuing operations | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Revenue | 6 | 2,586 | | 2,712 | | 5,103 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cost of sales | | (1,615) | | (1,576) | | (3,235) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Gross profit | | 971 | | 1,136 | | 1,868 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Other administrative expenses | | (833) | | (818) | | (1,603) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Results from operating | 6 | 138 | | 318 | | 265 |
| activities | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Finance income | | 1 | | 3 | | 3 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Finance expenses | | (26) | | (11) | | (50) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Profit before taxation | | 113 | | 310 | | 218 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Income tax expense | | - | | - | | (85) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Profit from continuing | 6 | 113 | | 310 | | 133 |
| operations | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Other comprehensive costs | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Exchange differences on | | - | | (18) | | - |
| translating foreign operations | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total comprehensive income | | 113 | | 292 | | 133 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Basic profit per ordinary | 4 | 0.9p | | 2.4p | | 1.0p |
| share | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Diluted profit per ordinary | 4 | 0.9p | | 2.4p | | 1.0p |
| share | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
There were no recognised gains or losses other than the profit for the financial
period.
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 30 September 2009
+--------------------------------+------+------------+--+------------+--+-----------+
| | | At 30 | | At 30 | | At 31 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | September | | September | | March |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 2009 | | 2008 | | 2009 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| |Note | Unaudited | | Unaudited | | Audited |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Non current assets | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Property, plant and equipment | | 839 | | 716 | | 816 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Goodwill | | 730 | | 760 | | 730 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Other intangible assets | | 55 | | - | | 61 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total non current assets | | 1,624 | | 1,476 | | 1,607 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Current assets | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Trade and other receivables | | 1,402 | | 1,434 | | 991 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cash and cash equivalents | | 47 | | 99 | | 205 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total current assets | | 1,449 | | 1,533 | | 1,196 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total assets | 6 | 3,073 | | 3,009 | | 2,803 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Current liabilities | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Bank borrowings | | (172) | | (104) | | (53) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Hire purchase contracts | | (114) | | (54) | | (112) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Trade and other payables | | (659) | | (611) | | (537) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Current tax payable | | (48) | | (58) | | (68) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total current liabilities | | (993) | | (827) | | (770) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Non current liabilities | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Bank borrowings | | - | | - | | (27) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Hire purchase contracts | | (245) | | (216) | | (272) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Other payables | | - | | (91) | | (45) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Deferred tax provision | | (62) | | (46) | | (62) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total non current liabilities | | (307) | | (353) | | (406) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Total liabilities | 6 | (1,300) | | (1,180) | | (1,176) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Net assets | | 1,773 | | 1,829 | | 1,627 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Capital and reserves | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Called up share capital | | 1,275 | | 1,275 | | 1,275 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Share premium account | | 1,657 | | 1,657 | | 1,657 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Profit and loss account | | 563 | | 673 | | 450 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Foreign Exchange reserve | | 52 | | (2) | | 19 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Reverse acquisition reserve | | (1,774) | | (1,774) | | (1,774) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Shareholders' funds | | 1,773 | | 1,829 | | 1,627 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
The financial statements were approved by the Board of Directors and authorised
for issue on 7 December 2009. They were signed on its behalf by:
Mark Mattison
Director
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six month period to 30 September 2009
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | Called | Share | Reverse | Exchange | Retained | Total |
| | | up | premium | acquisition | gain | earnings | equity |
| | | share | account | reserve | reserve | | |
| | | capital | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| For the 6 months ended | | | | | | | |
| 30 September 2009 | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Unaudited | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At start of period | | 1,275 | 1,657 | (1,774) | 19 | 450 | 1,627 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Gain on translation of | | - | - | - | 33 | - | 33 |
| foreign operations | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Total comprehensive | | - | - | - | - | 113 | 113 |
| income for the period | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Dividends paid | | - | - | - | - | - | - |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At end of period | | 1,275 | 1,657 | (1,774) | 52 | 563 | 1,773 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | Called | Share | Reverse | Exchange | Retained | Total |
| | | up | premium | acquisition | gain | earnings | equity |
| | | share | account | reserve | reserve | | |
| | | capital | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| For the 12 months ended | | | | | | | |
| 31 March 2009 | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Audited | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At start of period | | 1,275 | 1,657 | (1,774) | 14 | 381 | 1,553 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Gain on translation of | | - | - | - | 5 | - | 5 |
| foreign operations | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Total comprehensive | | - | - | - | - | 133 | 133 |
| income for the year | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Dividends paid | | - | - | - | - | (64) | (64) |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At end of period | | 1,275 | 1,657 | (1,774) | 19 | 450 | 1,627 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | Called | Share | Reverse | Exchange | Retained | Total |
| | | up | premium | acquisition | gain | earnings | equity |
| | | share | account | reserve | reserve | | |
| | | capital | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| For the 6 months ended | | | | | | | |
| 30 September 2008 | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Unaudited | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At start of period | | 1,275 | 1,657 | (1,774) | 14 | 381 | 1,553 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Loss on translation of | | - | - | - | (16) | - | (16) |
| foreign operations | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Total comprehensive | | - | - | - | - | 292 | 292 |
| income for the period | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| Dividends paid | | - | - | - | - | - | - |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| At end of period | | 1,275 | 1,657 | (1,774) | (2) | 673 | 1,829 |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
| | | | | | | | |
+-------------------------+-+----------+---------+-------------+----------+----------+----------+
UNAUDITED CONSOLIDATED STATEMENT OF CASHFLOW
For the six month period to 30 September 2009
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 6 months | | 6 months | | 12 months |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | ended | | ended | | ended |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 30 | | 30 | | 31 March |
| | | September | | September | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | 2009 | | 2008 | | 2009 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| |Note | Unaudited | | Unaudited | | Audited |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cash used in operations | 5 | (72) | | 331 | | 759 |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Income taxes paid | | (21) | | - | | (46) |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cashflow from investing | | | | | | |
| activities | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Acquisition of subsidiary | | - | | (119) | | (155) |
| undertakings (net of cash) | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Purchase of property, plant | | (76) | | (114) | | (174) |
| and equipment | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Proceeds from disposal of | | - | | - | | 25 |
| property, plant and equipment | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Equity dividends paid | | - | | - | | (64) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Interest paid | | (26) | | (11) | | (50) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Interest received | | 1 | | 3 | | 3 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Net cash outflow from | | (101) | | (241) | | (415) |
| investing activities | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Financing | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Proceeds of new bank loan | | - | | - | | 100 |
+--------------------------------+------+------------+--+------------+--+-----------+
| Repayment of bank loans | | (26) | | (17) | | (43) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Hire purchase repayments | | (56) | | (19) | | (96) |
+--------------------------------+------+------------+--+------------+--+-----------+
| Net cash outflow from | | (82) | | (36) | | (39) |
| financing | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Net (decrease)/increase in | | (276) | | 54 | | 259 |
| cash and cash equivalents | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cash and cash equivalents at | | 205 | | (54) | | (54) |
| beginning of period | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| Cash and cash equivalents at | | (71) | | - | | 205 |
| end of period | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
| | | | | | | |
+--------------------------------+------+------------+--+------------+--+-----------+
NOTES TO THE ACCOUNTS
For the six month period to 30 September 2009
1 BASIS OF PREPARATION OF INTERIM REPORT
IFRS
The Interim financial report has been prepared using accounting policies
consistent with International Financial Reporting Standards (IFRS).The
accounting for this is explained more fully in note 2.
The information for the period ended 30 September 2009 is not audited and does
not constitute statutory accounts as defined in section 435 of the Companies Act
2006. The interim accounts for the six month period to 30 September 2008 were
also unaudited.
The information for the year ended 31 March 2009 is audited, taken from the
unqualified statutory accounts for the year then ended.
2 ACCOUNTING POLICIES
Basis of Accounting
The interim results have been prepared in accordance with International
Financial Reporting Standards (IFRS) accounting rules. The accounting policies
used in the preparation of these results were the accounting policies used in
the preparation of the results for the year ended 31 March 2009 and detailed in
the notes to those results (see Accounts for the year ended 31 March 2009 issued
10 September 2009).
3 Dividends
The Company will be declaring an interim dividend of 0.5p per share. The interim
dividend will be paid to shareholders on 29 January 2010, with an ex-dividend
date of 30 December 2009 and a record date of 4 January 2010.
4 profit per share
The calculation is based on the profit attributable to ordinary shareholders
divided by the weighted average number of ordinary shares as defined by IAS 33
as follows:
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
| | | 6 months | | 6 months | | 12 months |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | ended | | ended | | ended |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | 30 | | 30 | | 31 March |
| | | September | | September | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | 2009 | | 2008 | | 2009 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | Unaudited | | Unaudited | | Audited |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit/(Loss) for the period | | GBP113 | | GBP310 | | GBP133 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | No. '000 | | No. '000 | | No. '000 | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Weighted average number of equity | | 12,745 | | 12,745 | | 12,745 | |
| shares: Basic | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
| Weighted average number of equity | | 12,919 | | 12,818 | | 12,859 |
| shares: Diluted | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
5 CASH USED IN OPERATIONS
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | 6 months | | 6 months | | 12 months |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | ended | | ended | | ended |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | 30 | | 30 | | 31 March |
| | | September | | September | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | 2009 | | 2008 | | 2008 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | Unaudited | | Unaudited | | Audited |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Results from operating activities | | 138 | | 318 | | 265 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Depreciation of property, plant | | 99 | | 57 | | 183 |
| and equipment | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Amortisation of intangible fixed | | 7 | | - | | 8 |
| assets | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Loss/(Profit) on disposal of | | 5 | | - | | (6) |
| property, plant and equipment | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Non cash exchange adjustment | | 33 | | - | | (6) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Decrease/(Increase) in | | (433) | | (23) | | 534 |
| receivables | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Increase/(Decrease) in payables | | 79 | | (21) | | (219) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Cash used in operations | | (72) | | 331 | | 759 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
6 SEGMENT ANALYSIS
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
| | | UK | | Australia | | Total for |
| | | | | | | group |
+-----------------------------------+--+------------+--+------------+--+-----------+
| For the 6 months ended 30 | | | | | | |
| September 2009 | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Unaudited | | GBP'000 | | GBP'000 | | GBP'000 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Revenue | | 2,052 | | 534 | | 2,586 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Operating profit/(loss) | | 185 | | (47) | | 138 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance income | | 1 | | - | | 1 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance expenses | | (11) | | (15) | | (26) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit/(loss) before taxation | | 175 | | (62) | | 113 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Income tax expense | | - | | - | | - |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit/(loss) from continuing | | 175 | | (62) | | 113 |
| operations | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Balance sheet | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total assets | | 2,472 | | 601 | | 3,073 | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total liabilities | | (840) | | (460) | | (1,300) | |
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
| | | UK | | Australia | | Total for |
| | | | | | | group |
+-----------------------------------+--+------------+--+------------+--+-----------+
| For the 12 months ended 31 March | | | | | | |
| 2009 | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Audited | | GBP'000 | | GBP'000 | | GBP'000 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Revenue | | 3,160 | | 1,127 | | 5,103 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Operating profit/(loss) | | 219 | | 46 | | 265 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance income | | 3 | | - | | 3 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance expenses | | (23) | | (27) | | (50) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit before taxation | | 199 | | 19 | | 218 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Income tax expense | | (67) | | (18) | | (85) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit from continuing operations | | 132 | | 1 | | 133 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Balance sheet | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total assets | | 2,234 | | 569 | | 2,803 | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total liabilities | | (765) | | (411) | | (1,176) | |
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
| | | UK | | Australia | | Total for |
| | | | | | | group |
+-----------------------------------+--+------------+--+------------+--+-----------+
| For the 6 months ended 30 | | | | | | |
| September 2008 | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Unaudited | | GBP'000 | | GBP'000 | | GBP'000 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Revenue | | 2,142 | | 570 | | 2,712 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Operating profit/(loss) | | 199 | | 119 | | 318 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance income | | 3 | | - | | 3 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Finance expenses | | (7) | | (4) | | (11) |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit before taxation | | 195 | | 115 | | 310 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Income tax expense | | - | | - | | - |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Profit from continuing operations | | 195 | | 115 | | 310 |
+-----------------------------------+--+------------+--+------------+--+-----------+
| | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+
| Balance sheet | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total assets | | 2,436 | | 573 | | 3,009 | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| | | | | | | | |
+-----------------------------------+--+------------+--+------------+--+-----------+ +
| Total liabilities | | (880) | | (300) | | (1,180) | |
+-----------------------------------+--+------------+--+------------+--+-----------+-----+
Copies of this report will be available from the Company's website at
www.skyhighplc.co.uk and the Company's registered office at 32 Bedford Row,
London, WC1R 4HE.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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