TIDMONL
RNS Number : 4831I
On-Line PLC
25 March 2015
On-line PLC
('On-line' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December
2014
On-line today announces its unaudited interim results for the
six months ended 31 December 2014.
Chairman's Statement
Here are our interim accounts and statement. As previously
reported, we are working hard to grow ADVFN which has made good
progress in the past six months.
Below are a few extracts from ADVFN's interim statement:
ADVFN PLC
"I am pleased to announce a solid start to the new financial
year with sales up 7.8 per cent. from GBP4.46 million to GBP4.8
million from the same period a year ago.
While sales growth has been good, we have won these gains
against a background of markets which have ebbed and flowed. This
result has therefore come from developments from the broad spread
of our offerings, where successes compensate for any downward drift
elsewhere.
Our growing newsletter business and new products in the US have
been a highlight and we feel these offer strong potential for
growth going forward as we roll them out into new territories.
We haven't suffered any disasters or witnessed any miracles in
this half year but this period has represented a period of
consistent progress as we continue to build on the ADVFN and
Investorshub platform.
While doing so, we have reorganised our share capital and
completed a US OTC QX market listing with an eye to exposing our
huge US audience to the possibility of become shareholders in our
company through US listed ADRs".
Financial performance
Key financial performance for ADVFN for the period has been
summarised as follows:
Six Months ended Six Months ended
31 December 2014 31 December 2013
--------------------- ----------------- -----------------
GBP'000 GBP'000
--------------------- ----------------- -----------------
Turnover 4,807 4,458
--------------------- ----------------- -----------------
Loss for the period (552) (226)
--------------------- ----------------- -----------------
Operating Loss (647) (342)
--------------------- ----------------- -----------------
Loss per share (2.19)p (0.90p)
--------------------- ----------------- -----------------
Michael Hodges
Chairman
25 March 2015
Enquiries:
Michael Hodges mikeh@on-line.co.uk
Salmaan Khawaja, Jen Clarke, Jamie Barklem Grant Thornton UK LLP
(Nominated Adviser) 0207 383 5100
On-line PLC
Profit and Loss Account
for the six months ended 31 December 2014
Six months Six months
ended ended Year ended
31 December 31 December 30 June
2014 2013 2014
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Turnover 48 36 78
Administrative expenses (50) (40) (85)
----------- ----------- ---------------
Operating loss (2) (4) (7)
Interest payable - - (2)
----------- ----------- ---------------
Loss on ordinary activities
before taxation (2) (4) (9)
Tax on loss on ordinary activities - - -
----------- ----------- ---------------
Loss on ordinary activities
after taxation (2) (4) (9)
=========== =========== ===============
Basic and diluted loss per
ordinary share 2 (0.03)p (0.05)p (0.12)p
Diluted loss per ordinary
share (0.03)p (0.05)p (0.12)p
All operations are continuing.
There were no recognised gains or losses other than the profit
or loss for the period.
On-line PLC
Balance Sheet
at 31 December 2014
31 December 31 December 30 June
2014 2013 2014
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Fixed assets
Investments 868 868 868
---------------- ---------------- ----------------
Current assets
Debtors 107 132 109
Creditors: amounts falling
due within one year (50) (75) (53)
---------------- ---------------- ----------------
Net current assets 57 57 56
---------------- ---------------- ----------------
Total assets less current
liabilities 925 925 924
================ ================ ================
Capital and reserves
Called up share capital 3,242 3,242 3,242
Share premium account 3 2,205 2,205 2,205
Option valuation reserve 3 31 41 28
Profit and loss account 3 (4,553) (4,563) (4,551)
---------------- ---------------- ----------------
925 925 924
================ ================ ================
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2014
Six months Six months
ended ended Year ended
31 December 31 December
2014 2013 30 June 2014
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Net cash (outflow)/inflow from
operating activities 4 - (11) 20
(Decrease)/increase in cash - (11) 20
Net debt at the beginning of the
period (15) (35) (35)
------------- ------------- -------------
Net debt at the end of the period (15) (46) (15)
============= ============= =============
On-line PLC
Notes to the interim statement
for the six months ended 31 December 2014
1. The unaudited interim financial information is for the six
month period ended 31 December 2014. The financial information does
not include all the information required for full annual financial
statements and should be read in conjunction with the financial
statements of the Company for the year ended 30 June 2014, which
were prepared under the historical cost convention and United
Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The accounting policies adopted in this report are consistent
with those of the annual financial statements for the year to 30
June 2014 as described in those financial statements.
The interim financial information has been prepared on the going
concern basis which assumes the Company will continue in existence
for the foreseeable future. No material uncertainties that cast
significant doubt about the ability of the Company to continue as a
going concern have been identified by the directors. Accordingly,
the directors, believe it is appropriate for the interim financial
statement to be prepared on the going concern basis.
The interim financial information has not been audited nor has
it been reviewed under ISRE 2410 of the Auditing Practices Board.
The financial information presented does not constitute statutory
accounts as defined by section 434 of the Companies Act 2006. The
Company statutory accounts for the year to 30 June 2013 have been
filed with the Registrar of Companies. The auditors, Grant Thornton
UK LLP reported on these accounts and their report was unqualified
and did not contain a statement under section 498(2) or Section
498(3) of the Companies Act 2006.
2. Earnings per ordinary share
Six months Six months Year ended
ended ended
31 December 31 December 30 June
2014 2013 2014
GBP'000 GBP'000 GBP'000
Loss for the period (2) (4) (9)
Weighted average number
of shares 7,662 7,662 7,662
Basic loss per share (0.03)p (0.05)p (0.12)p
============== ============== ===================
Where a loss occurs the diluted loss per share does not differ
from the basic loss per share as the exercise of share options
would have the effect of reducing the loss per share and is
therefore not dilutive under the terms of IAS 33.
On-line PLC
Notes to the interim statement
for the six months ended 31 December 2014
3. Reserves
Share premium Option valuation Profit and
account reserve loss account
GBP'000 GBP'000 GBP'000
At 1 July 2014 2,205 28 (4,551)
Loss retained for the period - - (2)
Option expense - 3 -
At 31 December 2014 2,205 31 (4,553)
============= ================ =============
4. Reconciliation of operating loss to net cash (outflow)/inflow from operating activities
Six months Six months Year ended
ended ended
31 December 31 December 30 June
2014 2013 2014
GBP'000 GBP'000 GBP'000
Loss on ordinary activity
before taxation (2) (4) (9)
Equity settled share based
payments in the period 3 4 8
Decrease/(increase) in debtors 2 (11) 12
(Decrease)/increase in creditors (3) - 9
Net cash (outflow)/inflow
from operating activities - (11) 20
=========== =========== ==========
5. The directors cannot recommend the payment of a dividend.
6. Copies of this statement are being posted to shareholders
shortly and will be available from the Company's registered office
at Suite 27, Essex Technology Centre, The Gables, Fyfield Road,
Ongar, Essex, CM5 0GA and in electronic form from the Company's
website, http://www.on-line.co.uk/.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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