RNS Number:0280Z
Sportswinbet Limited
26 June 2007
SPORTSWINBET LIMITED
PRELIMINARY STATEMENT OF RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2006
Sportswinbet Limited ("SportsWinBet" or the "Company") has today published its
results for the year ended 31 December 2006.
The results for the year to 31 December 2006 show a loss of #384,124
significantly reduced from that incurred in the period to 31 December 2005 of
#946,530 as a result of action taken during 2006 to reduce operating costs.
Mladen Ninkov, Chairman commented as follow:
In the year ended 31 December 2006 the Company made progress in identifying
investment opportunities against a background of continuing regulatory
uncertainty in many parts of the world. Since the year end, and as was
announced on 19 April 2007, an agreement had been concluded with Kolarmy
Technology Inc ("Kolarmy") under which Kolarmy agreed to operate a Sportswinbet
branded sportsbook. This operation commenced in late April on a trial basis.
The systems appear to be operating well and the total volume of wagers taken in
the first two months of operation was in excess of the GBP equivalent of #13
million. A decision will be taken in due course as to whether to move from a
trial to full scale operation and marketing of the site and a further
announcement will be made at that time.
Investment opportunities continue to be sought in accordance with the Company's
stated investment strategy. Shareholders will be asked to re confirm the
Company's investing strategy at the forthcoming Annual General Meeting of the
Company.
The annual accounts and report for the period to 31 December 2006 will be posted
to shareholders by 30 June 2007.
Further information
Liam Murray, Nominated Adviser
City Financial Associates Limited
Tel +44 (0) 207 090 7800
SPORTSWINBET LIMITED
CONSOLIDATED SUMMARISED INCOME STATEMENT
Year 311 days ended
ended 31 December
31 December 2006 2005
# #
Revenue - -
Administrative expenses (533,074) (603,290)
Profit on disposal of property, plant and equipment 78,159 -
Impairment of property, plant and equipment - (405,000)
Operating loss (454,915) (1,008,290)
Finance income 70,791 61,760
Loss on ordinary activities before taxation (384,124) (946,530)
Income tax expense - -
Loss on ordinary activities after taxation and retained losses carried (384,124) (946,530)
forward
Earnings/(loss) per share #(0.007) #(0.021)
SPORTSWINBET LIMITED
SUMMARISED BALANCE SHEETS As at 31 December
Group Group
2006 2005
# #
Non current assets
Investments - -
Property, plant and equipment 94,439 234,221
Intangible fixed assets 56,100 56,100
150,539 290,321
Current assets
Trade and other receivables 58,334 87,167
Cash and cash equivalents 1,488,145 1,697,199
1,546,479 1,784,366
Current liabilities
Trade and other payables (44,846) (38,391)
Net current assets 1,501,633 1,745,975
Total net assets 1,652,172 2,036,296
Equity
Share premium account 2,982,826 2,982,826
Retained earnings (1,330,654) (946,530
Total equity 1,652,172 2,036,296
SPORTSWINBET LIMITED
SUMMARISED CASH FLOW STATEMENTS
Group Group
Year 311 days ended
ended 31 December 31 December
2006 2005
# #
Net cash flows from operating activities
Loss before taxation (384,124) (946,530)
Interest received (70,791) (61,760)
Decrease / (increase) in receivables and 28,833 (87,167)
prepayments
Increase in payables 6,455 38,391
Depreciation 94,439 -
Profit on disposal of property, plant and (78,159) -
equipment
Provisions in respect of continuing operations - 405,000
(403,347) (652,066)
Cash flows from investing activities
Interest received 70,791 61,760
Proceeds on disposal of property, plant and 123,502 -
equipment
Purchase of property, plant and equipment - (639,221)
Purchase of intangible fixed assets - (56,100)
Purchase of investment - -
Net cash generated / (consumed) by investing 194,293 (633,561)
activities
Cash flows from financing activities
Issue of ordinary share capital - 2,982,826
(Decrease) / Increase in cash and cash (209,054) 1,697,199
equivalents
Cash and cash equivalents at Beginning of the 1,697,199 -
financial period
Cash and cash equivalents at end of the 1,488,145 1,697,199
financial period
Cash and cash equivalents consist of:
Cash at bank and in hand 1,488,145 1,697,199
SPORTSWINBET LIMITED
Statement of Changes In Equity
Group
Share Capital Profit and Loss Total
Account
# # #
At 23 February 2005 - - -
Loss for the period - (946,530) (946,530)
Total losses
recognised in the
period - (946,530) (946,530)
Issue of share capital 2,982,826 - 2,982,826
At 31st December 2005 2,982,826 (946,530) 2,036,296
Loss for the period - (384,124) (384,124)
Total losses
recognised in the
period - (384,124) (384,124)
Issue of share capital - - -
At 31st December 2006 2,982,826 (1,330,654) 1,652,172
Notes:
1. This statement has been prepared using accounting policies and
presentation consistent with those applied in the preparation of the statutory
accounts of the Company.
2. The summary accounts set out above do not constitute statutory accounts
as defined by Section 240 of the UK Companies Act 1985. The summarised balance
sheets at 31 December 2006 and the summarised income statement and, summarised
cash flow statements and summarised statement of changes in equity for the year
then ended have been extracted from the Group's 2006 statutory financial
statements upon which the auditors' opinion is unqualified. The results for the
period ended 31 December 2005 have been extracted from the statutory accounts
for that period, which contain an unqualified auditors' report.
3. The annual report and accounts for 2006 together with the notice of the
Annual General Meeting will be sent by post to all registered shareholders.
4. The loss per share has been calculated on the basis of the net loss
after taxation of #384,124 (2005 #946,530) and the weighted average number of
shares in issue in the period ended 31 December 2006 of 57,056,501 (2005
44,592,658). There are no share purchase options.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR SEFFFMSWSELM
Sportswinbet Limited (LSE:SWB)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Sportswinbet Limited (LSE:SWB)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
