Interim Report 2009
30 10월 2009 - 12:59AM
UK Regulatory
TIDMHWC
RNS Number : 6202B
Highway Capital PLC
29 October 2009
?
HIGHWAY CAPITAL PLC
INTERIM REPORT 2009
Chairman's Statement
The results for the six months ended 31 August 2009 showed a loss before tax of
GBP41,000 (six months ended 31 August 2008: GBP30,000 loss; year ended 28
February 2009: GBP68,000 loss).
No dividend has been declared.
Your directors have continued to seek potential acquisitions which will add
shareholder value, regrettably without success. Despite this, we are optimistic
that a suitable opportunity can be identified. Until such time we will continue
to minimise expenditure.
I will report to you as soon as there are positive developments.
A H Drummon
Chairman
29 October 2009
+-----------------------+--------+---------------+---------------+------------------+
| Profit and loss | Notes | 6 months | 6 months | Year ended |
| account | | ended | ended | 28 February 2009 |
| | | 31 August | 31 August | (audited) |
| | | 2009 | 2008 | GBP'000 |
| | | (unaudited) | (unaudited) | |
| | | GBP'000 | GBP'000 | |
+-----------------------+--------+---------------+---------------+------------------+
| Management fees | | - | - | - |
+-----------------------+--------+---------------+---------------+------------------+
| Administrative | | (42) | (40) | (84) |
| expenses | | | | |
+-----------------------+--------+---------------+---------------+------------------+
| Operating loss | 2 | (42) | (40) | (84) |
+-----------------------+--------+---------------+---------------+------------------+
| Interest receivable | | 1 | 10 | 16 |
+-----------------------+--------+---------------+---------------+------------------+
| Loss on ordinary | | (41) | (30) | (68) |
| activities before | | | | |
| taxation | | | | |
+-----------------------+--------+---------------+---------------+------------------+
| Tax credit on loss on | | - | - | - |
| ordinary activities | | | | |
+-----------------------+--------+---------------+---------------+------------------+
| Loss for the period | | (41) | (30) | (68) |
+-----------------------+--------+---------------+---------------+------------------+
| Basic and diluted | 3 | (0.51)p | (0.38)p | (0.85)p |
| loss per share | | | | |
+-----------------------+--------+---------------+---------------+------------------+
+-------------------------+--------+---------------+---------------+-----------------+
| Balance Sheet | Notes | 31 August | 31 August | 28 February |
| | | 2009 | 2008 | 2009 |
| | | (unaudited) | (unaudited) | (audited) |
| | | GBP'000 | GBP'000 | GBP'000 |
+-------------------------+--------+---------------+---------------+-----------------+
| Fixed assets | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
| Investments | | - | - | - |
+-------------------------+--------+---------------+---------------+-----------------+
| Current assets | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
| Debtors | | 10 | 11 | 3 |
+-------------------------+--------+---------------+---------------+-----------------+
| Cash at bank and in | | 367 | 453 | 407 |
| hand | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
| | | 377 | 464 | 410 |
+-------------------------+--------+---------------+---------------+-----------------+
| Creditors: amounts | | (30) | (38) | (22) |
| falling due within one | | | | |
| year | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
| Net current assets | | 347 | 426 | 388 |
+-------------------------+--------+---------------+---------------+-----------------+
| Net assets | | 347 | 426 | 388 |
+-------------------------+--------+---------------+---------------+-----------------+
| Capital and reserves | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
| Share capital | 5 | 159 | 159 | 159 |
+-------------------------+--------+---------------+---------------+-----------------+
| Share premium | | 295 | 295 | 295 |
+-------------------------+--------+---------------+---------------+-----------------+
| Profit and loss account | | (107) | (28) | (66) |
+-------------------------+--------+---------------+---------------+-----------------+
| Total equity | | 347 | 426 | 388 |
| shareholders' funds | | | | |
+-------------------------+--------+---------------+---------------+-----------------+
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Cash Flow Statement | Notes | 6 months ended | 6 months ended | Year ended |
| | | 31 August 2009 | 31 August 2008 | 28 February |
| | | (unaudited) | (unaudited) | 2009 |
| | | GBP'000 | GBP'000 | (audited) |
| | | | | GBP'000 |
+-------------------------+--------+-----------------+-----------------+-----------------+
| Net cash outflow from | 6a | | (41) | | (37) | | (89) |
| operating activities | | | | | | | |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Returns on investments | | | | | | | |
| and servicing of | | | | | | | |
| finance | | | | | | | |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Interest received | | 1 | | 10 | | 16 | |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Net cash inflow from | | | 1 | | 10 | | 16 |
| returns on investments | | | | | | | |
| and servicing of | | | | | | | |
| finance | | | | | | | |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Taxation | | | | | | | |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Corporation tax | | | - | | - | | - |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Equity dividends paid | | | - | | - | | - |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
| Decrease in cash | 6b | | (40) | | (27) | | (73) |
+-------------------------+--------+--------+--------+--------+--------+--------+--------+
Notes to the Interim Report
1. Basis of preparation of the interim report
The condensed set of financial statements for the six months ended 31 August
2009 has been prepared on a basis consistent with the financial statements for
the year ended 28 February 2009.
The condensed set of financial statements for the six months ended 31 August
2009 has not been audited or reviewed by the auditors pursuant to the Auditing
Practices Board guidance on Review of Interim Financial Information.
The comparative financial information for the year ended 28 February 2009 has
been extracted from the audited financial statements, on which the auditors
issued an unqualified audit report and which have 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 434 of the Companies Act 2006.
There are no acquired or discontinued operations in the relevant financial
periods.
There are no recognized gains or losses other than the profit or loss for the
relevant financial periods.
Highway Capital plc is a stand-alone company and does not prepare consolidated
accounts. It has therefore continued to prepare its accounts in accordance with
UK rather than international accounting standards, as permitted under EC
Regulation 1606/2002.
2. Operating loss
+------------------+--------+---------------+---------------+-----------------+
| This is stated after | | | |
| charging: | | | |
+---------------------------+---------------+---------------+-----------------+
| | | 6 months | 6 months | Year ended |
| | | ended | ended | 28 February |
| | | 31 August | 31 August | 2009 |
| | | 2009 | 2008 | (audited) |
| | | (unaudited) | (unaudited) | GBP'000 |
| | | GBP'000 | GBP'000 | |
+------------------+--------+---------------+---------------+-----------------+
| Directors' remuneration | | | |
+---------------------------+---------------+---------------+-----------------+
| - salaries and fees | 14 | 14 | 28 |
+---------------------------+---------------+---------------+-----------------+
| Auditors' remuneration | | | |
+---------------------------+---------------+---------------+-----------------+
| - audit | | 4 | 4 | 8 |
| services | | | | |
+------------------+--------+---------------+---------------+-----------------+
| - other | | 7 | 6 | 14 |
| services | | | | |
+------------------+--------+---------------+---------------+-----------------+
3. Loss per share
The loss per ordinary share calculation has been based on the losses
attributable to ordinary shareholders of GBP41,000 (August 2008: GBP30,000;
February 2009: GBP68,000), divided by 7,945,638 (August 2008 and February 2009:
7,945,638) being the average of the issued share capital during the period.
There is no difference between the basic and diluted loss per share.
4. 2009 interim dividend
No interim dividend has been declared.
5. Share capital
+------------------+--------+---------------+---------------+----------------+
| | | 31 August | 31 August | 28 February |
| | | 2009 | 2008 | 2009 |
| | | (unaudited) | (unaudited) | (audited) |
| | | | | |
+------------------+--------+---------------+---------------+----------------+
| Ordinary shares of 2p | | | |
| each | | | |
+---------------------------+---------------+---------------+----------------+
| Authorised | | | |
+---------------------------+---------------+---------------+----------------+
| Number of shares | 50,000,000 | 50,000,000 | 50,000,000 |
+---------------------------+---------------+---------------+----------------+
| Nominal value | GBP1,000,000 | GBP1,000,000 | GBP1,000,000 |
+---------------------------+---------------+---------------+----------------+
| | | | |
+---------------------------+---------------+---------------+----------------+
| Allotted,called-up, fully | | | |
| paid | | | |
+---------------------------+---------------+---------------+----------------+
| Number of shares | 7,945,638 | 7,945,638 | 7,945,638 |
+---------------------------+---------------+---------------+----------------+
| Nominal value | GBP158,913 | GBP158,913 | GBP158,913 |
+------------------+--------+---------------+---------------+----------------+
6.Cash flow statement
+------------------+--------+---------------+---------------+-----------------+
| | | 6 months | 6 months | Year ended |
| | | ended | ended | 28 February |
| | | 31 August | 31 August | 2009 |
| | | 2009 | 2008 | (audited) |
| | | (unaudited) | (unaudited) | GBP'000 |
| | | GBP'000 | GBP'000 | |
+------------------+--------+---------------+---------------+-----------------+
| a) Net cash outflow from | | | |
| operating activities | | | |
+---------------------------+---------------+---------------+-----------------+
| Operating loss | (42) | (40) | (84) |
+---------------------------+---------------+---------------+-----------------+
| (Increase)/decrease in | (7) | (7) | 1 |
| debtors | | | |
+---------------------------+---------------+---------------+-----------------+
| Increase/(decrease) in | 8 | 10 | (6) |
| creditors | | | |
+---------------------------+---------------+---------------+-----------------+
| | | | |
+---------------------------+---------------+---------------+-----------------+
| | (41) | (37) | (89) |
+---------------------------+---------------+---------------+-----------------+
| | | | |
+---------------------------+---------------+---------------+-----------------+
| b) Reconciliation of net | | | |
| cash flow to movement in | | | |
| net funds | | | |
+---------------------------+---------------+---------------+-----------------+
| Decrease in cash in the | (40) | (27) | (73) |
| period | | | |
+---------------------------+---------------+---------------+-----------------+
| Movement in net funds in | (40) | (27) | (73) |
| the period | | | |
+---------------------------+---------------+---------------+-----------------+
| Opening net funds | 407 | 480 | 480 |
+---------------------------+---------------+---------------+-----------------+
| | | | |
+---------------------------+---------------+---------------+-----------------+
| Closing net funds | 367 | 453 | 407 |
+------------------+--------+---------------+---------------+-----------------+
7. Related party transactions
A H Drummon is a consultant to Keith, Bayley, Rogers & Co. Limited, the
financial adviser and stockbroker to Highway Capital plc. In the six months
ended 31 August 2009, Keith, Bayley, Rogers & Co. Limited received retainer fees
of GBP5,000 (August 2008: GBP5,000; February 2009: GBP10,000).
8. Responsibility statement
We confirm that to the best of our knowledge:
(a)the condensed set of financial statements has been prepared in
accordance with Statement: Half-yearly
financial reports issued by the Accounting Standards Board;
(b) the interim management report includes a fair review of
the information required by DTR 4.2.7R
(indication of important events during the first six months
and their impact on the financial statements and
description of principal risks and uncertainties for the
remaining six months of the year); and
(c) the interim management report includes a fair review of
the information required by DTR 4.2.8R
(disclosure of related party transactions and changes
therein).
By order of the Board
A H Drummon E P Levey
Chairman Non-Executive Director
9. Publication
Copies of this statement will be circulated to all shareholders and will also be
available from the registered office of Highway Capital plc at 73 Wimpole
Street, London W1G 8AZ.
29 October 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR PUGBCUUPBGAB
Highway Capital (LSE:HWC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Highway Capital (LSE:HWC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
