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UTW Utilitywise

1.903
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Utilitywise LSE:UTW London Ordinary Share GB00B6WVD707 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.903 1.806 2.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Utilitywise plc Half Yearly Report -6-

21/04/2015 7:01am

UK Regulatory


 Depreciation                 (155,944)   (176,614) 
 Amortisation                     (242)     (3,147) 
 Profit before tax (local 
  GAAP)                       3,263,937     508,132 
                            ===========  ========== 
 
 
                             Enterprise   Corporate 
 Year ended 31 July 
  2014                          GBP          GBP 
 Segment profit               7,094,711   2,146,573 
 Finance income                   9,738       2,865 
 Finance expense              (476,214)       (179) 
 Depreciation                 (312,740)   (402,516) 
 Amortisation                   (8,876)     (6,300) 
 Profit before tax (local 
  GAAP)                       6,306,619   1,740,443 
                            ===========  ========== 
 
 
                                 Six months    Six months    Year ended 
                                    ended         ended        31 July 
                                  31 January    31 January      2014 
                                     2015          2014 
 Profit before tax                   GBP           GBP          GBP 
 Enterprise (local GAAP)           5,107,343     3,263,937    6,306,619 
 Corporate (local GAAP)            1,442,629       508,132    1,740,443 
 Accrued revenue (GAAP 
  adjustment)                        (6,802)       379,711      390,627 
 Grant release                        18,000        18,000       36,000 
 Discounting of cash 
  flows net of unwinding 
  (GAAP adjustment)                (832,421)     (574,183)     (69,117) 
 Amortisation                        661,512       452,452      999,891 
 Investment costs                          -             -     (36,500) 
 Exceptional release 
  of contingent consideration              -             -    2,000,000 
                                ------------  ------------  ----------- 
 Total Group profit 
  before tax                       6,390,261     4,048,049   11,367,963 
                                ============  ============  =========== 
 
 
                                  Six months    Six months 
                                     ended         ended        Year ended 
                                   31 January    31 January      31 July 
                                      2015          2014           2014 
 Net assets                           GBP           GBP           GBP 
 Enterprise (local GAAP)           31,919,552    25,653,224     29,808,399 
 Corporate (local GAAP)             3,929,657     1,668,305      2,469,364 
 Accrued revenue and 
  tax impact (GAAP adjustment)        307,060     (253,725)        312,502 
 Grant release and tax 
  impact                             (10,238)      (48,790)       (24,638) 
 Discounting of cash 
  flows and tax impact 
  (GAAP adjustment)               (1,060,789)       100,654      (394,342) 
 Share options                        173,080     1,251,969        617,249 
 Amortisation                       2,880,590     1,469,243      2,113,728 
 Investments costs                  (555,998)     (519,498)      (555,998) 
 Exceptional release 
  of contingent consideration       2,000,000             -      2,000,000 
 Business combinations                 18,367             -         12,244 
 Group net assets                  39,601,281    29,321,382     36,358,508 
                                 ============  ============  ============= 
 

Other information

 
                              Six months   Six months 
                                 ended        ended      Year ended 
                              31 January   31 January   31 July 2014 
                                 2015         2014 
                                 GBP          GBP           GBP 
 
 Analysis of concentration 
  of customers 
  (Energy suppliers) 
  comprising revenues 
  of 10% or more: 
 Customer 1                    8,468,121    5,057,249     17,291,227 
 Customer 2                    4,341,939    3,786,583      7,350,935 
 Customer 3                            -    2,161,125              - 
 Other suppliers              17,076,193    9,974,684     23,999,693 
                              29,886,253   20,979,641     48,641,855 
                             ===========  ===========  ============= 
 
   4.       Exceptional items 

Exceptional items in the year ended 31 July 2014 relate to the costs incurred in the acquisition of Icon Communication Centres s.r.o and other aborted acquisition costs. Also included are restructuring and reorganisation costs such as settlement payments of GBP469k, costs of GBP167k incurred in the set up of a new Head Office was occupied in November 2014, as well as a dilapidations provision and an onerous lease provision for the South Tyneside premises of GBP422k and GBP772k respectively.

There is also a credit of GBP2m offsetting these costs which arose from the release of deferred consideration where earn out criteria were not met. Exceptional items are included in administrative expenses and other operating income in the income statement.

Exceptional items in the six months ending 31 January 2015 relate to the release of an unutilised provision from the year ended 31 July 2014, originally made in relation to restructuring costs.

   5.       Dividends 
 
                       Six months   Six months 
                            ended        ended   Year ended 
                       31 January   31 January    31 July 
                             2015         2014      2014 
                          GBP          GBP          GBP 
 
 Final dividend 
  of 2.9 pence per 
  ordinary share 
  proposed and paid 
  during the period 
  relating to the 
  previous year's 
  results              2,071,887    1,304,005    2,158,341 
 
   6.       Earnings per share 

Basic earnings per share is calculated by dividing the profit attributable to ordinary shareholders by the weighted average number of ordinary shares in issue during the period.

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares in issue to assume the conversion of all potentially dilutive ordinary shares.

The Group has potentially dilutive ordinary shares: those share options granted to employees where the exercise price is less than the average market price of the Company's ordinary shares during the period.

 
                          Six months   Six months      12 months 
                               ended        ended          ended 
                          31 January   31 January   31 July 2014 
                                2015         2014 
                                 GBP          GBP            GBP 
 Profit 
 Profit used in 
  calculating basic 
  and diluted profit       4,972,943    3,393,619      9,266,038 
 
 Number of shares 
 Weighted average 
  number of shares 
  for the purpose 
  of basic earnings 
  per share               74,572,247   71,998,063     72,464,331 
 
 Effects of: 
 Employee share 
  options and warrants     1,530,832    3,951,020      2,593,870 
 Contingent shares 
  to be issued                61,332    1,249,940      1,096,414 
 
 Weighted average 
  number of shares 
  for the purpose 
  of diluted earnings 
  per share               76,164,411   77,199,023     76,154,615 
 
   7.       Property, plant and equipment 

During the six months ended 31 January 2015 the group incurred property, plant and equipment additions of GBP2,120,852 (HY 2014: GBP292,204).

   8.       Share capital 
 
 
     GBP 
 
 
                     Six months   Six months 
                       ended 31     ended 31   Year ended 
                        January      January      31 July 
                           2015         2014         2014 
 
 
 Share capital 
  issued and 
  fully paid 
 
 74,734,035 
  Ordinary shares 
  of GBP0.001 
  each                   74,734       72,444       74,514 
                    -----------  -----------  ----------- 
 
 

Ordinary shares carry the right to one vote per share at general meetings of the Company and the rights to share in any distribution of profits or returns of capital and to share in any residual assets available for distribution in the event of a winding up.

During the period ending 31 January 2015 a further 219,884 were issued pursuant to the exercise of options over such shares, which resulted in additions to share capital of GBP220 and additions to share premium of GBP260,401.

During the period ending 31 January 2015 the company set up a further Save As You Earn scheme (SAYE), Long Term Incentive Plan (LTIP) and Company Share Option Plan (CSOP). A total of 1,686,269 options were issued. These carry an average exercise price of GBP2.21 per share.

   9.       Post balance sheet events 

Since the period end the Company has acquired T-mac Technologies Limited. Further details are contained in a separate announcement released earlier today.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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