Interim Results
25 9월 2007 - 4:01PM
UK Regulatory
RNS Number:3770E
Sportswinbet Limited
25 September 2007
Sportswinbet Limited
Half yearly report to 30 June 2007
25 September 2007
Sportswinbet Limited ("SportsWinBet" or the "Company") has today published its
results for the six months ended 30 June 2007.
The Company recorded a profit for the six months ended 30 June 2007 of #5,000
(30th June 2006 loss of #238,000). As at 30 June 2007 the Company had cash
resources of #1,445,000 and net assets of #1,657,000.
The Company generated #205,000 of revenue during the period from the operation
of the Sportswinbet branded sportsbook operated by Kolarmy Technology Inc. This
trial was terminated in July 2007 although discussions are ongoing as to the
possibility of re-activating the sportsbook if certain conditions can be
satisfied by the relevant parties. A number of other investment opportunities
were considered during the period although no commitments have been made. The
Company continues to seek investment opportunities in line with its stated
strategy.
Further information
Liam Murray, Nominated Adviser
Telephone: +44(0)20 7492 4777
City Financial Associates Limited
Information on the Company is available on the Company's web site:
www.sportswinbet.com
CONSOLIDATED INCOME STATEMENT
(expressed in thousands # sterling)
Six months to 30 Six months to 30 Year ended
/06/2007 /06/2006 31/12/06
Unaudited Unaudited Audited
#000 #000 #000
Revenue 205 - -
Administration expenses (237) (273) (533)
Profit on disposal of property, plant and equipment - - 78
Operating loss (32) (273) (455)
Finance income 37 35 71
Profit / (loss) on ordinary activities before taxation 5 (238) (384)
Income tax expense - - -
Profit / (loss) on ordinary activities after taxation 5 (238) (384)
Profit / (loss) per share #0.000 #(0.004) #(0.007)
CONSOLIDATED BALANCE SHEET
(expressed in thousands # sterling)
30/06/2007 30/06/2006 31/12/2006
Unaudited Unaudited Audited
#000 #000 #000
ASSETS
Non-current assets
Property, plant and equipment - 234 94
Intangible assets - computer software 56 56 56
56 290 150
Current assets
Trade and other receivables 169 27 58
Cash and deposits 1,445 1,503 1,488
1,614 1,530 1,546
TOTAL ASSETS 1,670 1,820 1,696
EQUITY AND LIABILITIES
Equity attributable to equity holders of the parent
company
Share premium 2,982 2,982 2,982
Profit and loss reserve (1,325) (1,184) (1,330)
Total equity 1,657 1,798 1,652
Current liabilities
Trade and other payables 13 22 44
Total liabilities 13 22 44
TOTAL EQUITY AND LIABILITIES 1,670 1,820 1,696
Number of shares in issue 57,056,501 57,056,501 57,056,501
Attributable net asset value / total equity per share #0.03 #0.03 #0.03
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(expressed in thousands # sterling)
Share premium Profit and loss Total
#000 #000 #000
At 31st December 2005 2,982 (946) 2,036
Loss for the six months to 30th June 2006 - (238) (238)
At 30th June 2006 2,982 (1,184) 1,798
Loss for the six months to 31st December 2006 - (146) (146)
At 31st December 2006 2,982 (1,330) 1,652
Profit the six months to 30th June 2007 - 5 5
At 30th June 2007 2,982 (1,325) 1,657
CONSOLIDATED CASH FLOW STATEMENT
(expressed in thousands # sterling)
Six months to 30 Six months to 30 Year ended
/06/2007 /06/2006 31/12/06
Unaudited Unaudited Audited
#000 #000 #000
Net cash flows from operating activities
Profit / (loss) before taxation 5 (238) (384)
Interest received (37) (35) (71)
(Increase) / decrease in trade and other receivables (111) 60 29
(Decrease) / increase in payables (31) (16) 6
Depreciation 94 - 94
Profit on disposal of property, plant and equipment - - (78)
Net cash (outflow) from operating activities (80) (229) (404)
Cash flows from investing activities
Interest received 37 35 71
Proceeds on disposal of property plant & equipment - - 124
Net cash outflow from investing activities 37 35 195
(Decrease) in cash and cash equivalents (43) (194) (209)
Cash and cash equivalents at the beginning of the financial
period 1,488 1,697 1,697
Cash and cash equivalents at the end of the financial period 1,445 1,503 1,488
Cash and cash equivalents comprise:
Cash at bank and in hand 1,445 1,503 1,488
Notes:
1. This statement has been prepared using accounting policies consistent
with those applied in the preparation of the statutory accounts of the Company
for the period ended 31st December 2006. The format of the balance sheet has
been re-presented such as to show the total of assets and the total of equity
and liabilities.
2. The summary accounts set out above do not constitute statutory accounts
as defined by Section 240 of the UK Companies Act 1985. The consolidated
balance sheet at 31st December 2006, the consolidated income statement and,
consolidated cash flow statement for the period then ended have been extracted
from the Group's 2006 statutory financial statements upon which the auditors'
opinion is unqualified.
3. Earnings per share have been calculated on the basis of the net profit
after taxation of #5,000 (2006 Loss #238,000) and the weighted average number of
shares in issue in the six months ended 30th June 2007 of 57,056,501 (2006
57,056,501). There are no share purchase options.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Sportswinbet Limited (LSE:SWB)
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Sportswinbet Limited (LSE:SWB)
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