We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ultimate Sports Group Plc | LSE:USG | London | Ordinary Share | GB00BYV31355 | 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% | 27.50 | 27.00 | 28.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMUSG
RNS Number : 1249L
Ultimate Sports Group PLC
28 September 2016
Ultimate Sports Group Plc ("USG" or the "Company")
Interim Results
Ultimate Sports Group Plc, the AIM listed investment vehicle, announces its results for the six months ended 30(th) June 2016.
Chairman's Statement and Chief Executive's Review
For the six months ended 30(th) June 2016 we are reporting a pre-tax loss of GBP199,253 (2015: loss GBP69,062).
Westside's net cash balances as at 30(th) June 2016 were GBP461,814 (2015: GBP449,996). The Directors are not recommending the payment of a dividend.
We are continuing our programme to develop the UltimatePlayer.me brand and we expect to secure definitive progress in 2016.
UltimatePlayer.me
As shareholders are aware, we have been developing an innovative online platform for children. This is a "free to view" method of measuring, motivating and incentivising young children to enhance their own personal sporting performance. Ultimate Player now covers 13 different sports.
We are pleased to report that the programme became fully operational in 2016 and is now being put through its paces with a core group of coaches, children and parents.
We are enthusiastic about the future of the Ultimate Player brand as we launch UltimatePlayer.me and tap into our ESS platform which as outlined below is already established and continues to grow.
We have invested considerable time and money in the development of the UltimatePlayer.me programme and the second stage is expected to make definitive progress in the last quarter of 2016.
Pantheon Leisure Plc ("Pantheon")
Westside holds 85.87% of the issued share capital of Pantheon, which in turn owns 100% of the operating business of Pantheon's sport and leisure division.
Pantheon's sports and leisure division comprises two trading companies, Sport in Schools Limited ('ESS'), also known as The Elms Sport in Schools, and Football Partners Limited ('FPL') - also known as The Elms Small Sided Football.
Pantheon as a group made a profit of GBP36,259 for the 6 months ended 30(th) June 2016 (2015: loss GBP24,942).
Sport in Schools Limited ('ESS' - Elms Sport in Schools)
On a turnover of GBP664,087 (2015: loss GBP670,681), ESS has contributed a divisional profit of GBP117,404 as compared with GBP101,359 to 30(th) June 2015.
ESS specialises in the delivery of primary school sport - covering the National Curriculum during the day and The Extended Day before and after school hours (breakfast, lunchtime and after-school clubs).
The majority of the breakfast and lunchtime clubs are provided and paid for by the school, whilst the majority of after-school clubs are paid for by parents.
Holiday camps are a successful area for ESS where it provides sports tuition during the school holidays. The majority of the camps are paid for by parents, whilst a few are paid for by the school.
The ESS directors have developed bespoke skill sets which have been adopted with great enthusiasm by its full time staff and part time coaches. On average, 21,000 children are coached between 12 to 25 hours a week. All its coaches are highly qualified (minimum level 2), DBS checked, child protection vetted and rigorously trained by ESS in all the main disciplines required by the National Curriculum. The management of ESS constantly monitors and assesses the level of performance of its coaches throughout the school year.
Football Partners Limited ('FPL')
The 5-a-side football operation enjoys full FA accreditation and its activities (conducted through FPL) continue to be influenced by a difficult market. Turnover (net of corporate fees) decreased by 1.7% to GBP216,536 which resulted in an operating loss of GBP38,805 (2015: Loss GBP33,886).
Outlook
The continuing success of the sports tuition activities of ESS is encouraging and the directors consider that together with the ongoing development of the Ultimate Player.me website there is potential for significant growth.
We look forward to updating shareholders on progress.
R.L Owen
G.M. Simmonds
28 September 2016
* *S * *
For further information, please visit www.ultimatesportsgroup.me or contact:
Ultimate Sports Group PLC Geoffrey Simmonds, Executive +44 (0)20 7935 Chairman 0823 St Brides Partners Ltd (Financial PR) Elisabeth Cowell and Charlotte +44 (0)20 7236 Page 1177 Cantor Fitzgerald Europe (Nomad and Joint Broker) +44 (0)20 7894 Marc Milmo / Catherine Leftley 7000 Northland Capital Partners Limited (Joint Broker) Matthew Johnson / Stuart Miller +44 (0)20 3861 John Howes / Rob Rees 6625 Dowgate Capital Stockbrokers Limited (Joint Broker) Neil Badger / Jason Robertson +44 (0)1293 517744
Consolidated statement of comprehensive income for the six months ended 30 June 2016
Hot Features
Premium
Unaudited Unaudited
6 months 6 months Audited
ended ended Year ended
30 June 30 June 31 December
2016 2015 2015
GBP GBP GBP
Revenues 881,864 891,009 1,674,521
Cost of sales (456,454) (490,980) (976,037)
Gross profit 425,410 400,029 698,484
---------- ---------- -------------
Administrative expenses (559,382) (533,560) (1,035,747)
Website costs written
off (64,297) (17,651) (62,510)
Provision for impairment
in value of
investments - (9,306)
(623,679) (551,211) (1,107,563)
Operating loss (198,269) (151,182) (409,079)
Finance income 1,002 123 1,150
Finance costs (1,986) (1,986) (3,972)
Other gains and losses - 83,983 55,480
---------- ---------- -------------
(984) 82,120 52,658
---------- ---------- -------------
(Loss) before taxation (199,253) (69,062) (356,421)
Taxation 15 (17,376) (23,334)
Profit/(loss) after
taxation (199,238) (86,438) (379,755)
========== ========== =============
Attributable to:
========== ========== =============
Owners of the company (202,946) (89,989) (377,424)
========== ========== =============
Non- controlling interests 3,708 3,551 (2,331)
========== ========== =============
(199,238) (86,438) (379,755)
========== ========== =============
Other comprehensive
(loss)/income
========== ========== =============
Net gain/ (loss) arising
on revaluation of available-for-sale
investments 75 (84,660) (14,553)
========== ========== =============
Tax relating to components
of other comprehensive
income (15) 17,376 23,334
========== ========== =============
60 (67,284) 8,781
========== ========== =============
Total comprehensive
loss
========== ========== =============
Owners of the company (202,886) (157,273) (368,643)
========== ========== =============
Non- controlling interests 3,708 3,551 (2,331)
========== ========== =============
(199,178) (153,722) (370,974)
========== ========== =============
Loss per share (basic)
========== ========== =============
Loss per share (0.0133)p (0.0063)p (0.0265)p
========== ========== =============
Total comprehensive
loss (0.0133)p (0.011)p (0.0261)p
========== ========== =============
Loss per share (diluted)
========== ========== =============
Loss per share (0.0133)p (0.0063)p (0.0265)p
========== ========== =============
Total comprehensive
loss (0.0133)p (0.0011)p (0.0261)p
========== ========== =============
Statement of financial position as at 30 June 2016
Unaudited Unaudited Audited
as at as at As at 31
30 June 30 June December
2016 2015 2015
GBP GBP GBP
Non current assets
Goodwill and patents 60,054 60,054 60,054
Plant and equipment 61,985 107,994 80,975
Social media website development
costs 457,725 295,879 426,967
------------
Total non-current assets 579,764 463,927 567,996
------------ ------------ ------------
Current assets
Available-for-sale investments 29,348 38,967 29,273
Trade and other receivables 290,409 325,236 182,254
Cash and cash equivalents 461,814 449,996 357,915
------------ ------------ ------------
Total current assets 781,571 814,199 569,442
------------ ------------ ------------
Total assets 1,361,335 1,278,126 1,137,438
Current liabilities
Trade and other payables 377,044 450,787 385,114
Borrowings 16,377 16,377 18,877
------------ ------------ ------------
Total current liabilities 393,421 467,164 403,991
------------ ------------ ------------
Non current liabilities
Borrowings 41,000 59,877 47,939
------------ ------------ ------------
Total non-current liabilities 41,000 59,877 47,939
------------
Total liabilities 434,421 527,041 451,930
Net assets 926,914 751,085 685,508
============
Equity
Share capital 2,026,164 1,426,164 1,526,164
Share premium 381,954 304,289 401,039
Merger reserve 325,584 325,584 325,584
Fair value reserve 1,210 8,904 1,150
Retained earnings (1,766,099) (1,320,689) (1,569,380)
Equity attributable to owners
of the company 968,813 744,252 684,557
Non-controlling interest (41,899) 6,833 951
Total Equity 926,914 751,085 685,508
============ ============ ============
Consolidated statement of changes in equity
Six months Six months
ended ended Year ended
30 June 30 June 31 December
2016 2015 2015
GBP GBP GBP
Total equity at the
beginning of period/year 685,508 898,583 947,183
Issue of shares 480,915 - 196,750
Revaluation gains/(losses)
on available-for
sale investments 75 - (14,552)
Release on disposal
of available -for-sale
investment - (84,660) (99,900)
Taxation on items
taken directly to
equity (15) 17,376 23,334
Share based payments 6,224 6,224 12,448
Loss for the period/year (199,238) (86,438) (379,755)
Acquisition of non-
controlling interest (46,555) - -
At end of period/year 926,914 751,085 685,508
=========== =========== =============
Consolidated statement of cash flows for the six months ended 30 June 2016
Six months Six months
ended ended Year ended
30 June 30 June 31 December
2016 2015 2015
GBP GBP GBP
Cash flow from operating
activities
(Loss)/profit before taxation (199,253) (69,062) (356,421)
Adjustments for:
Other gains and losses - (83,983) (55,480)
Depreciation and amortisation 46,272 23,012 55,487
Finance income (1,002) (123) (1,150)
Finance costs 1,986 1,986 3,972
Share based payments 6,224 6,224 12,448
Operating cash flow before
working capital movements (145,773) (121,946) (341,144)
(Increase)/decrease in receivables (108,155) (183,056) (40,074)
(Decrease)/Increase in payables (8,070) 112,006 46,333
Net cash absorbed by operations (261,998) (192,996) (334,885)
Investing activities
Finance income 1,002 123 1,150
Property, plant and equipment
acquired (3,228) (14,412) (10,563)
Social media website development (54,812) (129,856) (270,250)
Proceeds on disposal of available-for-sale
investments 89,230 89,230
----------- ----------- -------------
Net cash (used)/from investing
activities (57,038) (54,915) (190,433)
----------- ----------- -------------
Financing activities
Proceeds from share issues 480,915 - 196,750
Acquisition of non- controlling
interest (46,555)
Finance costs (1,986) (1,986) (3,972)
Repayment of borrowings (9,439) (9,439) (18,877)
Net cash from/(used) in financing
activities 422,935 (11,425) 173,901
----------- ----------- -------------
Net increase/(decrease) in
cash and cash equivalents 103,899 (259,336) (351,417)
Cash and cash equivalents
and bank overdraft at the
beginning of the period/year 357,915 709,332 709,332
Cash and cash equivalents
at the end of the period/year 461,814 449,996 357,915
=========== =========== =============
Notes to the financial statements for the six months ended 30 June 2016
1. General information
Ultimate Sports Group plc (the "company") is a company domiciled in England and its registered office address is 130 City Road, London EC1Y 2AB. The condensed consolidated interim financial statements of the company for the six months ended 30 June 2016 comprise the company and its subsidiaries (together referred to as "the group").
The condensed consolidated interim financial statements do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006.
The financial information for the year ended 31 December 2015 has been extracted from the statutory accounts. The auditors' report on those statutory accounts was unqualified and did not contain a statement under Section 434 of the Companies Act 2006. A copy of those accounts has been filed with the Registrar of Companies.
The group has presented its results in accordance with the measurement principles set out in International Financial Reporting Standards as adopted by the EU using the same accounting policies and methods of computation as were used in the annual financial statements for the year ended 31 December 2015. As permitted, the interim report has been prepared in accordance with the AIM rules for companies and is not compliant in all respects with IAS34 'Interim Financial Statements'.
The condensed consolidated interim financial statements do not include all the information required for full annual financial statements and therefore cannot be construed to be in full compliance with IFRS.
The condensed consolidated interim financial statements were approved by the board and authorised for issue on 28 September 2016.
2. Business segment analysis
Six months ended
30 June 2015
Social
Sports media
and leisure website Consolidated
Results from operations GBP GBP GBP
Revenue 880,623 1,241 881,864
============= ========= =============
Segment operating
profit/(loss) 78,689 (64,778) 13,911
============= =========
Group operating expenses (212,180)
-------------
Operating loss (198,269)
Finance costs net (984)
-------------
Profit before taxation (199,253)
Taxation 15
-------------
Loss after taxation
from continuing activities (199,238)
=============
Six months ended
30 June 2015
Social
Sports media
and leisure website Consolidated
Results from operations GBP GBP GBP
Revenue 891,009 - 891,009
============= ========= =============
Segment operating
profit 67,473 (17,651) 49,822
============= =========
Group operating expenses (201,004)
-------------
Operating loss (151,182)
Other gains and losses 83,983
Finance income (1,863)
-------------
Loss before taxation (69,062)
Taxation (17,376)
-------------
Loss after taxation
from continuing activities (86,438)
=============
Year Ended 31 December
2015
Social
Sports media
and leisure website Consolidated
Results from operations GBP GBP GBP
Revenue 1,674,521 - 1,674,521
============= ========= =============
Segment operating
(loss)/profit 67,241 (93,105) (25,864)
============= =========
Group operating expenses (383,215)
Operating loss (409,079)
Other gains and losses 55,480
Finance revenues
less costs (2,822)
Loss before taxation (356,421)
Taxation (23,334)
-------------
Profit after taxation
from continuing activities (379,755)
=============
3. Taxation
The tax charge in the accounts represents adjustments for deferred tax arising from origination and reversal of timing differences.
4. Basic and diluted loss per share
The basic and diluted loss per ordinary share for the six month period ended on 30 June 2016 has been calculated on the group's loss attributable to owners of the company of GBP202,946 and on the weighted average number of shares in issue during the period of 15,261,268.
The basic and diluted loss per ordinary share for the six month period ended on 30 June 2015 has been calculated on the group's loss attributable to owners of the company of GBP89,989 and on the weighted average number of shares in issue during the period of 14,261,638 adjusted for a subsequent share consolidation in October 2015.
The basic and diluted loss per ordinary share for the year ended on 31 December 2015 has been calculated on the group's loss attributable to owners of the company of GBP377,424 and on the weighted average number of shares in issue during the year of 14,302,364.
Comprehensive loss per share for the six month period ended 30 June 2016 has been calculated on the comprehensive loss attributable to owners of the company of GBP202,886 and on the weighted average number of shares in issue during the period of 1,5261,268.
Comprehensive loss per share for the six month period ended 30 June 2015 has been calculated on the comprehensive loss attributable to owners of the company of GBP157,273 and on the weighted average number of shares in issue during the period of 14,261,638 adjusted for a subsequent share consolidation in October 2015.
Comprehensive loss per share for the year ended 31 December 2015 has been calculated on the comprehensive loss attributable to owners of the company of GBP368,643 and on the weighted average number of shares in issue during the year of 14,302,364
For the six month period ended 30 June 2016, six month period ended 30 June 2015 and for the year ended 31 December 2015, share options and warrants to subscribe for shares in the company are anti-dilutive and therefore diluted earnings per share information is the same as the basic loss per share.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR LLFESAVITFIR
(END) Dow Jones Newswires
September 28, 2016 10:57 ET (14:57 GMT)
1 Year Ultimate Sports Chart |
1 Month Ultimate Sports Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
