Interim Results

RNS Number:6872J
Vista Group PLC
29 September 2006


                                VISTA GROUP PLC
                                ("Vista Group")

             (Manufacturer of PVC door panels and composite doors)


          UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE 2006

                                              6 months ended      6 months ended
                                                    30/06/06            30/06/05
                                                       #'000               #'000

Turnover                                               3,649               3,397
Profit before tax and amortisation of goodwill           263                 111
Profit before tax                                        208                  56
Basic earnings per share (pence)                         0.8                 0.2


For further information:


Vista Group plc

Keith Sadler (Chief Executive)                    0151 608 1423

Keith Salisbury (Non Executive Director)          07810 418669



                                VISTA GROUP PLC

         (Leading manufacturer of PVC door panels and composite doors)

          UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE 2006

                              Chairman's Statement


Results


I am pleased to report an encouraging set of half year results in what remains a
tough market.


Turnover in the period under review was increased by 7.4% to #3.6 million (2005:
#3.4 million) with profit before tax increasing to #208,000 (2005: #56,000).
Basic earnings per share rose to 0.8p (2005: 0.2p)


Operating cashflow was solid and was mainly utilised to further reduce bank
debt.


Additional contracts have been secured throughout the year for our composite
door product and this provides continued visibility of sales. The panel market
continues to remain extremely price competitive and sales of this product have
remained flat. We have continued to focus on all cost areas and overheads, which
has helped to maintain margins.


Outlook


The second half of the year is likely to be challenging as the market continues
to be tough with competition for sales being fierce, as such the results for the
full year are likely to be slightly below market expectations.


Gavin Johnson

Chairman

29 September 2006


                                Vista Group Plc

                         Group Profit and Loss Account
                     For the Six Months Ended 30 June 2006


                                                    Unaudited       Unaudited       Audited
                                                     6 months        6 months     12 months
                                                     30/06/06        30/06/05      31/12/05
                                                        #'000           #'000         #'000


Turnover                                                3,649           3,397         7,723

EBITDA                                                    429             282           722
Depreciation                                            (101)           (103)         (193)
Amortisation of Goodwill                                 (55)            (55)         (110)

Operating profit                                          273             124           419

Net Interest                                             (65)            (68)         (139)
Profit on ordinary activities before taxation             208              56           280

Taxation                                                 (88)            (22)          (83)
Profit on ordinary activities after taxation              120              34           197

Basic earnings per share                                 0.8p            0.2p          1.3p


                                Vista Group Plc

                              Group Balance Sheet
                                At 30 June 2006

                                                Unaudited      Unaudited         Audited
                                                 30/06/06       30/06/05        31/12/05
                                                    #'000          #'000           #'000

Fixed assets
Intangible assets                                   1,919          2,029           1,974
Tangible assets                                       561            429             525
                                                    2,480          2,458           2,499
Current assets
Stock                                                 551            431             448
Debtors                                             1,612          1,520           1,594
Cash at Bank and in hand                               45            102              37

                                                    2,208          2,053           2,079
Creditors amounts
falling due within one year                       (2,953)        (2,028)         (3,018)

Net current (liabilities)/assets                    (745)             25           (939)

Total assets less current liabilities               1,735          2,483           1,560

Creditors falling due after
more than one year                                  (101)        (1,131)            (46)

Net assets                                          1,634          1,352           1,514

Capital and reserves
Called up share capital                                77             77              77
Share premium account                                 896            896             896
Profit and loss account                               661            379             541

Equity Shareholders' Funds                          1,634          1,352           1,514



                                Vista Group Plc

                           Group Cash Flow Statement
                     For the Six Months Ended 30 June 2006


                                                   Unaudited      Unaudited        (Audited)
                                                    6 months       6 months        12 months
                                                    30/06/06       30/06/05         31/12/05

                                                       #'000          #'000            #'000

Net cash inflow from operating                           363            377            1,000
activities

Returns on investments and servicing finance            (65)           (68)            (138)

Taxation                                                   -            (8)            (271)

Capital expenditure and financial investment            (24)           (21)            (120)

Cash Inflow before use of liquid resources               274            280              471

Financing                                              (266)          (232)            (490)

Increase / (decrease) in cash in the period                8             48             (19)



                                Vista Group Plc

                     For the Six Months Ended 30 June 2006


RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FROM OPERATING ACTIVITIES

                                                     6months        6months            Period
                                                       ended          Ended             ended
                                                     30 June        30 June       31 December
                                                        2006           2005              2005
                                                   unaudited      Unaudited           audited
                                                       #'000          #'000             #'000

Operating profit                                         273            124               419

Depreciation                                             101            103               193
Amortisation of goodwill                                  55             55               110
Profit on sale of fixed assets                             -              -              (10)
(Increase) / decrease in stocks                        (103)             67                49
Increase debtors                                        (18)          (253)             (301)
Increase in creditors                                     55            281               540

Net cash inflow from operating activities                363            377             1,000



                                Vista Group Plc

                         Notes to the Interim Accounts

                      For the 6 months ended 30 June 2006



 1. The unaudited results for the six months have been prepared on a basis
    consistent with the accounting policies disclosed in the Group's 2005
    accounts and do not constitute statutory accounts within the meaning of
    Section 240 of the Companies Act 1985.



 2. The figures for the year ended 31 December 2005 have been extracted from
    statutory accounts which have been delivered to the Registrar of Companies
    and received and an unqualified audit report.



 3. The tax charge is based on the estimated tax rate for the year to 31 December
    2006.



 4. The calculation of earnings per share for the period is based upon the profit
    after taxation divided by the weighted average number of shares in issue
    being 15,382,116 (6 months to 30 June 2005 and year ended 31 December 2005
    15,382,116).



 5. Copies of the interim statement will be sent to shareholders shortly and will
    be available to the public at the registered office of the Company at Vista
    Group plc, Unit H1, Prenton Way, North Cheshire Trading Estate, Wirral,
    Merseyside CH43 3DU.



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