Interim Results
March 24 2006 - 2:02AM
UK Regulatory
RNS Number:3235A
TMT Group PLC
24 March 2006
TMT GROUP PLC
INTERIM RESULTS
24 March 2006
Chairman's statement for the period ended 31 December 2005
These interim accounts for TMT Group plc ('TMT') show the results for the 6
months ended 31 December 2005. The Company made an operating loss of #56,951 and
had net assets of #868,441 at the period end.
On 19 August 2005, TMT announced it had made a commitment of Euro375,000 to Mobile
Tornado International Limited ('Tornado') as part of a fundraising by Tornado
through the issue of redeemable loan stock. It was also announced that TMT had
entered into non-binding heads of agreement setting out the proposed terms for
the acquisition of Tornado.
The acquisition of Tornado, set out in a document sent to shareholders on 9
February 2006, successfully completed at an EGM held on 6 March 2006. As a
result, there are now 89,567,596 TMT shares in issue and Tornado is a wholly
owned subsidiary of TMT.
The acquisition moves the Company into a new phase of development, and I look
forward to updating you as Tornado develops its exciting business.
John Swingewood
Executive Chairman
Unaudited Profit and Loss Account
For the period ended 31 December 2005
2005 2004
# #
Turnover - -
Cost of sales - -
Gross profit - -
Administrative expenses (56,951) (145,845)
Operating loss (56,951) (145,845)
Interest receivable 12,026 19,530
Loss on ordinary activities before taxation (44,925) (126,315)
Tax on profit on ordinary activities - -
Loss for the period (44,925) (126,315)
All transactions arise from continuing operations.
Unaudited Balance Sheet
For the period ended 31 December 2005
2005 2004
# #
Fixed assets 257,202 -
Current assets
Debtors 29,797 19,538
Cash at bank and in hand 616,747 1,068,628
903,746 1,088,166
Creditors: amounts falling due within one year (35,305) (116,945)
Net current assets 868,441 971,221
Total assets less current liabilities 868,441 971,221
Capital and reserves
Called up share capital 118,750 118,750
Share premium account 978,786 978,786
Profit and loss account (229,095) (126,315)
Equity shareholders' funds 868,441 971,221
Unaudited Cashflow Statement
For the period ended 31 December 2005
2005 2004
# #
Net cash inflow/(outflow) from operating activities (72,911) (25,969)
Returns on investments and servicing of finance
Bank interest receivable 8,471 -
Investments (257,202) -
Financing
Issue of new shares - 1,199,992
Costs of share issue - (105,395)
Net cash inflow from financing - 1,094,597
(Decrease) / Increase in cash (321,642) 1,068,628
The unaudited interim statement was approved by the board of Directors on 24
March 2006. Copies of this statement will be available for a period of one month
from the offices of Corporate Synergy Plc, 30 Old Broad Street, London EC2N 1HT.
For further information please contact:
John Swingewood, Proposed Chairman, Mobile Tornado: 0208 104 1961
John Prior, Romil Patel, Corporate Synergy Plc: 0207 448 4400
This information is provided by RNS
The company news service from the London Stock Exchange
END
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