Interim Results
01 7월 2006 - 12:58AM
UK Regulatory
RNS Number:4981F
Crystalband PLC
30 June 2006
Interim Results
Six month period ended 31 March 2006
Chairman's Statement:
Following on from the year end results, the first half of the current fiscal
year has seen the completion of many of the restructuring programmes that were
initiated last year.
These changes, which focused on the diversification into the trade, new build,
and commercial markets, and the subsequent removal of low margin, high volume
non-profitable sectors of the industry, have had a positive impact on the result
for the interim period.
Turnover for the six months ended 31 March 2006 was #2,096,000, which reflects
an 89% increase on the same period last year. The increase in sales is a direct
result of the strategic changes made to the business in the last year.
Although, the losses on ordinary activities before taxation were #243,000, this
was a marked improvement on the same period for last year when losses amounted
to #631,000.
The diversification into the new markets in conjunction with the greater
operational efficiency achieved from our capital investment programme have set a
solid foundation for the second half of 2006. The directors believe that the
company has a positive future going forward.
Gavin Johnson
Chairman
Crystalband PLC
Group Profit and Loss Account
Six Months ended 31 March 2006
Unaudited Unaudited Audited
6 months to 6 months to 12 months
to
31 Mar '06 31 Mar '05 30 Sept '05
Note #'000 #'000 #'000
Turnover 2,096 1,108 4,215
Cost of sales (1,416) (800) (3,770)
Gross Profit 680 308 445
Administrative expenses (926) (945) (1,841)
Other operating income 31 47 31
Operating Loss (215) (590) (1,365)
Exceptionals (5) (68) (119)
Disposal of fixed assets 0 22 0
Interest (23) 5 10
Loss on Ordinary Activities Before (243) (631) (1,474)
Taxation
Tax on ordinary activities 0 0 0
Retained Loss (243) (631) (1,474)
Loss per share (pence) 2. (0.87)p (3.87)p
Adjusted loss per share (pence) 2. (0.59)p (3.54)p (7.13)p
Crystalband PLC
Group Balance Sheet
As at 31 March 2006
Unaudited Unaudited Audited
As at As at As at
31 Mar '06 31 Mar '05 30 Sept '05
Note #'000 #'000 #'000 #'000 #'000 #'000
Fixed Assets
Intangible 3. 2,975 3,166 3,055
Tangible 4. 603 507 319
3,578 3,673 3,374
Current Assets
Stock 181 163 291
Debtors 5. 810 471 935
Short term deposits 1,600 1,600 1,600
Cash at bank and in hand (218) 13 5
2,373 2,247 2,831
Creditors: Amounts Falling Due Within One Year 6. (4,595) (4,234) (4,727)
Net Current Assets (2,222) (1,987) (1,896)
Total Assets Less Current Liabilities 1,356 1,686 1,478
Creditors: Amounts Falling Due After More Than 7. (165) (12) (44)
One Year
Net Assets 1,191 1,674 1,434
Capital and Reserves
Share capital 139 112 139
Share premium 2,769 2,193 2,769
Profit and loss account B/F (1,473) 0 0
Profit and loss account Current Year (244) (631) (1,474)
Shareholders Funds 1,191 1,674 1,434
Crystalband PLC
Group Cash Flow Statement
Six Months ended 31 March 2006
Unaudited Unaudited Audited
6 months to 6 months to 12 months to
31 Mar '06 31 Mar '05 30 Sept '05
#'000 #'000 #'000 #'000 #'000 #'000
Net Cash (Outflow)/Inflow from Operating 154 (1,643) (2,459)
Activities
Returns on Investment and Servicing Finance
Interest received 0 5 68
Interest paid (9) 0 (56)
Interest element of hire purchase (2) (1) (2)
Net Cash (Outflow)/Inflow from Returns on (11) 4 10
Investments
Capital Expenditure
Payments to acquire tangible fixed assets (326) (78) (118)
Receipts from sale of fixed assets 0 0 123
Net Cash Outflow from Capital Expenditure (326) (78) 5
Acquisition
Cash acquired with subsidiary 0 186 186
Net Cash Outflow from Acquisition 0 186 186
Cash Outflow Before Financing (183) (1,531) (2,258)
Financing
Issue of equity share capital 0 2,672 3,434
Expenses paid in connection with share 0 (415) (461)
issue
Bonus issue 0 (48) (64)
Consideration shares issued on acquisition 0 (660) (660)
of subsidiary
Principal payment of hire purchase (11) (18) (6)
Net Cash (Outflow)/Inflow from Financing (11) 1,531 2,243
Increase/(Decrease) in Cash (194) 0 (15)
Reconciliation of Operating Profit to Net Cash Outflow
from Operating Activities
Operating profit (215) (590) (1,484)
Exceptionals (5) (68) 0
Depreciation 42 22 31
Amortisation of goodwill 80 54 161
Loss on disposal of fixed asset 0 0 169
Stock (Inc)/Dec 110 (132) (4)
Debtors (Inc)/Dec 125 (1,065) (1,941)
Creditors Inc/(Dec) 17 136 610
Net Cash (Outflow)/Inflow from Operating 154 (1,643) (2,458)
Activities
Crystalband PLC
Notes to the Interim Financial Statements
Six Months ended 31 March 2006
1. The unaudited results for the six month period have been prepared on a basis consistent with the
accounting policies of the Group and do not constitute statutory accounts within the meaning
of section 240 of the Companies Act 1985.
2. The calculation of the basic loss per share for the period is based on the profit after taxation
divided by the average number of ordinary shares in issue, being 27,886,400. The calculation of the
Adjusted loss per share for the period is based on the profit after taxation excluding goodwill
amortization divided by the average number of ordinary shares in issue, being 27,886,400.
3. Intangible Fixed Assets
Goodwill
#'000
Net Book Value B/F 3,055
Addition 0
Amortisation (80)
Current Net Book Value 2,975
4. Tangible Fixed Assets
Plant and Machinery
#'000
Net Book Value B/F 319
Additions 326
Depreciation (42)
Current Net Book Value 603
5. Debtors
#'000
Trade debtors 737
Other debtors 73
810
6. Creditors: Amounts Falling Due Within One Year
#'000
Trade creditors (618)
Other taxation and social (222)
security
HP creditors (90)
Loan notes (3,200)
External loans (357)
Other creditors (108)
(4,595)
7. Creditors: Amounts Falling Due After More Than One Year
#'000
HP creditors (165)
(165)
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR FMMATMMAJBBF
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