Interim Results
January 26 2001 - 2:00AM
UK Regulatory
RNS Number:8424X
Bolton Group International Ld
26 January 2001
BOLTON GROUP (INTERNATIONAL) LIMITED
INTERIM REPORT - 6 MONTHS ENDED 31 OCTOBER 2000
Chairmans Statement
Review of operations
The Board of Bolton Group (International) Limited announces the unaudited,
consolidated results for the six months ended 31 October 2000 as set out
overleaf.
Our existing business of property rental is still continuing at previous
levels.
For the six months ended 31 October 2000, the consolidated loss for the Group
amounted to #13,000 (six months to 31 October 1999: loss of #59,000), which
represents a continuing improvement. The Board does not recommend the payment
of a dividend for this period.
As previously reported, the Board has resolved to change Bolton's strategy and
to seek investment opportunities in the information and communications
technology sector, and this aim remains unchanged. Since last reporting to
you, the Board has continued to pursue potential investment targets. However,
continuing uncertainties in the market have led to caution. The Board are
continuing to seek suitable investments in these areas.
Peter Derby
Chairman 26 January 2001
Consoldated profit and loss account
for the six months ended 31 October 2000
Note Six months Six months
to to Year ended
31 October 31 October 30 April
2000 1999 2000
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Turnover 225 237 495
Administrative expenses (139) (226) (357)
Operating profit 86 11 138
Interest receivable 1 6 3
Interest payable (100) (76) (183)
Loss on ordinary activities before (13) (59) (42)
taxation
Taxation - - -
Retained loss on ordinary activities (13) (59) (42)
after taxation
Loss per share 3 (0.02p) (0.10p) (0.07p)
Diluted loss per share 3 (0.02p) (0.10p) (0.07p)
Consolidated balance sheet
at 31 October 2000
As at As at As at
31 October 31 October 30 April
2000 1999 2000
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Fixed assets
Tangible assets 4,052 4,070 4,061
Current assets
Debtors 46 194 63
Cash at bank and in hand 90 7 136
136 201 199
Creditors: amounts falling due within (432) (1,057) (431)
one year
Net current liabilities (296) (856) (232)
Total assets less current liabilities 3,756 3,214 3,829
Creditors: amounts falling due after (2,390) (2,002) (2,450)
more than one year
Net assets 1,366 1,212 1,379
Capital and reserves
Called up share capital 606 592 606
Share premium account 1,534 1,398 1,534
Other reserves 5,724 5,724 5,724
Profit and loss account (6,498) (6,502) (6,485)
Shareholders' funds - equity 1,366 1,212 1,379
Consolidated cash flow statement
for the six months ended 31 October 2000
Six months Six months
to to Year ended
31 October 31 October 30 April
2000 1999 2000
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Net cash inflow/(outflow) from operating 53 (177) (195)
activities
Returns on investments and servicing of
finance
Interest received 1 6 3
Interest paid (100) (75) (180)
Net cash outflow from returns on
investments and (99) (69) (177)
servicing of finance
Taxation - - -
Capital expenditure and financial
investments
Purchase of tangible fixed assets - (7) (7)
Sale of tangible fixed assets - 71 73
Net cash inflow/(outflow) from capital
expenditure - 64 66
and financial investments
Management of liquid resources
Deposits - - 100
Net cash inflow from management of liquid
resources - - 100
Financing
Repayment of borrowings - (147) (326)
Receipt from borrowings - - 454
Net cash (outflow)/inflow from financing - (147) 128
(Decrease)/increase in cash (46) (329) (78)
Notes to the interim report
1. The interim report has been prepared using accounting policies consistent
with those set out in the statutory accounts of the group for the year
ended 30 April 2000.
2. The financial information for the two half year periods is unaudited and
does not constitute statutory accounts within the meaning of Section 240
of the Companies Act 1985. The figures relating to the year ended 30 April
2000 are an extract from statutory accounts within the meaning of Section
240 of the Companies Act 1985 which have been delivered to the Registrar
of Companies and on which the auditors gave an unqualified audit report.
3. The calculation of the loss per share and diluted loss per share are based
on the following losses after taxation and weighted average numbers of
shares:
Six months to Six months to Year ended
31 October 31 October 30 April
2000 1999 2000
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Loss per share
Loss after tax (#000) (13) (59) (42)
Number of shares 60,580,355 9,247,023 59,257,982
Diluted loss per share
Loss after tax (#000) (13) (59) (42)
Number of shares 62,393,518 59,247,023 59,268,393
4. Copies of this interim report are being sent to all shareholders and will
be available to the public from the group's registrar, Capita IRG plc,
Balfour House, 390/398 High Road, Ilford, Essex, IG1 1NQ, United Kingdom.
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