Interim Results
29 11월 2001 - 11:00PM
UK Regulatory
RNS Number:9151N
Highway Capital PLC
29 November 2001
HIGHWAY CAPITAL PLC
(formerly Superframe Group plc)
INTERIM REPORT 2001
Chairman's Statement
Shareholders will be aware that, on 24 January 2001, the Company disposed of
its sole trading subsidiary, Superframe Limited, and a dormant subsidiary,
Retail Rescue Limited, for a total consideration of #1.2 million. As I
reported in my statement contained in the 2001 Annual Report, Highway Capital
plc is now effectively a cash shell and has been seeking suitable
acquisitions.
Results for the six months ended 31 August 2001 show a loss before tax of #
57,000.
At this time we do not consider it prudent to declare an interim dividend.
Since the disposal of Superframe Limited, the Company has reviewed a number of
potential acquisitions. The Directors have felt that none of those proposals
were appropriate acquisitions for the Company, either because they are not of
sufficient calibre or they have not presented the possibility of sufficient
potential return for shareholders.
On 1 October 2001, the Company announced that it had reached agreement,
subject to contract, to acquire the entire issued share capital of Vector OEM
Content Limited. In accordance with the Listing Rules of the UK Listing
Authority, trading in the Company's shares was suspended on that day. The
Company continues to conduct due diligence in relation to the potential
acquisition and will make an announcement in due course.
Dominic Wheatley
Chairman
29 November 2001
Profit and Loss Account 6 months ended 6 months ended
31 August 2001 31 August 2000
(unaudited) (unaudited)
Notes
#'000 #'000
Turnover
- -
Administration expenses (85) (43)
Operating loss (85) (43)
Income from fixed asset investments - 40
Interest receivable 28 2
Loss on ordinary activities before taxation (57) (1)
Tax on profit/loss on ordinary activities - 3
Profit/(loss) for the financial period (57) 2
Dividends - (40)
Retained loss for the financial period (57) (38)
Earnings/(loss) per share 2 (0.72)p 0.02p
Dividends per share 3 - 0.5p
Balance Sheet 31 August 2001 31 August 2000
(unaudited) (unaudited)
#'000 #'000
Fixed assets
Investments - 132
- 132
Current assets
Debtors 20 476
Cash at bank and in hand 1,034 -
1,054 476
Creditors: amounts falling due within one year (25) (48)
Net current assets 1,029 428
Net assets 1,029 560
Capital and reserves
Share capital 159 159
Share premium 295 295
Profit and loss account 575 106
Total equity shareholders' funds 1,029 560
Cash Flow Statement 6 months ended 6 months ended
31 August 2001 31 August 2000
(unaudited) (unaudited)
#'000 #'000 #'000 #'000
Net cash outflow from operating activities
(127) (2)
Returns on investments and servicing of finance
Dividends received - 40
Interest received 28 2
28 42
Equity dividends paid - (40)
Increase/(decrease) in cash (99) -
Notes to the Interim Statement
1. Basis of preparation of the interim statement
The profit and loss account, balance sheet and cash flow statement have
been prepared on a basis consistent with the financial statements for the
14 month period ended 28 February 2001. A copy of the full financial
statements for the 14 month period ended 28 February 2001, on which the
auditors have issued an unqualified report, has been delivered to the
Registrar of Companies. The financial information contained in the interim
statement does not constitute statutory accounts within the meaning of
section 240 of the Companies Act 1985. The turnover and operating loss all
relate to continuing operations.
Highway Capital plc disposed of its two subsidiary undertakings,
Superframe Limited and Retail Rescue Limited, on 24 January 2001. At 28
February 2001, it was a stand alone company and was therefore not required
to prepare consolidated financial statements for the 14 month period ended
28 February 2001. The interim statement relates only to the Company
itself. The comparative figures have been derived from the Company's
financial statements for the 14 month period ended 28 February 2001.
2. Earnings/(loss) per share
The earnings/(loss) per ordinary share calculation has been based on the
profits or losses attributable to ordinary shareholders divided by
7,945,638 (2000: 7,945,638) being the average of the issued share capital
during the period. As the price set for the share options is in excess of
the fair value of the shares no dilution of earnings per share would occur
if the share options were exercised.
3. 2001 interim dividend
No interim dividend has been declared.
4. Publication
Copies of this statement will be circulated to all shareholders and
will also be available from the Company's registered office at 2
Fitzhardinge Street, London W1H 6EE.
Highway Capital (LSE:HWC)
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부터 6월(6) 2024 으로 7월(7) 2024
Highway Capital (LSE:HWC)
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부터 7월(7) 2023 으로 7월(7) 2024
