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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Techmarine | LSE:TMR | London | Ordinary Share | GB0031871154 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9686M Techmarine International PLC 30 June 2003 Managing Director's statement During the year ended 31 December 2002 we generated a profit before tax of #67,000 (2001: #86,000 ) on turnover of #3,39,000 (2001: #4,705,000). The company operated as a private company until 8th August 2002, when it was admitted to the Alternative Investment Market of the London Stock Exchange ("AIM"). The costs associated with the AIM listing have been expensed in full, and have amounted to #161,000 in the year. Having reviewed the situation in April 2003, the Directors formed the view that the ongoing costs of the AIM listing could not be justified given the difficult market conditions, and an announcement was made on 20th June 2003 that the company was delisting from the market. This will take effect on 15th July 2003. Similarly the company has terminated its Level-1 ADR programme, to be effective 18th August 2003. George Purdie Managing Director Profit and loss account for the year ended 31 December 2002 2002 2001 #'000 #'000 Turnover 3,847 4,449 Cost of sales (2,035) (2,415) Gross profit 1,812 2,034 Administrative expenses (1,771) (1,978) Operating profit 41 56 Interest receivable 26 30 Profit on ordinary activities before taxation 67 86 Tax on profit on ordinary activities (55) (26) Retained profit for the financial year 12 60 Earnings per ordinary share Basic 0.04p 68.89p Fully diluted 0.03p 68.89p There were no recognised gains or losses other than those detailed in the profit and loss account above. Balance sheet at 31 December 2002 2002 2001 #'000 #'000 #'000 #'000 Fixed assets Tangible assets 42 39 Current assets Debtors 923 1,573 Cash at bank and in hand 956 1,408 1,879 2,981 Creditors: Amounts falling due within one year (1,437) (2,791) Net current assets 442 190 Total assets less current liabilities 484 229 Creditors: Amounts falling due after more than one year: accruals and deferred income (140) - Provisions for liabilities and charges Deferred taxation (4) - _______ _______ 340 229 Capital and reserves Called up share capital 50 1 Share premium 50 - Profit and loss account 240 228 Equity shareholders' funds 340 229 Cash flow statement for the year ended 31 December 2002 2002 2001 #'000 #'000 Net cash (outflow) / inflow from operating (457) 709 activities Return on investments and servicing of finance: Interest received 26 30 Taxation: Corporation tax paid (43) (28) Capital expenditure and financial investment: Payments to acquire tangible fixed assets (27) (6) Financing Receipts from issue of shares 49 - _____ _____ (Decrease) / increase in cash in the year (452) 705 _____ _____ Reconciliation of net cash flow to movement in net funds. 2002 2001 #'000 #'000 (Decrease)/increase in cash (452) 705 _____ _____ Movement in net funds in the year (452) 705 Net funds at beginning of year 1,408 703 _____ _____ Net funds at end of year 956 1,408 _____ _____ This information is provided by RNS The company news service from the London Stock Exchange END FR WUUPWQUPWGQU
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