TIDMNLG
RNS Number : 3099Y
Arria NLG PLC
23 January 2014
23 January 2014
Arria NLG plc
("Arria", the "Company" or the "Group")
Final Results for the year ended 30 September 2013
Arria NLG plc (AIM: NLG), a leader in the development and
deployment of natural language generation ("NLG") technologies,
announces its final results for the year ended 30 September
2013.
Financial Highlights:
-- Revenue GBP816,178 (2012: GBP62,554)
-- Gross profit GBP676,694 (2012: GBP29,101)
-- Loss before tax of GBP13.01m (2012: GBP6.52m)
-- GBP5.3m raised to 30 September 2013 (a further GBP4.2m raised
post year end) to fund full acquisition of Data2Text Limited and
working capital
-- Cash at 30 September 2013 GBP3.9m (as at 30 September 2012: GBP8.7m)
Operational Highlights:
-- Successfully completed admission to trading on AIM, a market
of the London Stock Exchange on 5 December 2013
-- Concluded the acquisition of the remaining 80% of Data2Text
Limited not already owned subsequent to year end on 25 October
2013
-- Completed two foundational contracts for use of the Arria NLG
Engine, one for 2013 licensing of the Arria NLG Engine software to
monitor compressors on oil platforms in the Gulf of Mexico, and the
other for expanding the use of the Arria NLG Engine across
additional equipment classes
o Consequent contract extension with oil & gas super-major
awarded post period end on a month by month basis
Stuart Rogers, Chief Executive Officer of Arria NLG plc,
commented:
"The Directors believe that the prospects for the Group are very
bright. Negotiations continue with existing clients to expand the
scope of our relationships which the Directors expect to result in
deeper and longer engagements.
"Simultaneously, the Director's believe that the platform
offered by the Company's shares being admitted to trading on AIM,
and the debut of Natural Language Generation as a key note concept
at the Society of Petroleum Engineers Intelligent Energy conference
in Dubai during October 2013, positions the Group to succeed in the
coming months and years in delivering its vision to be the global
leader in the development and deployment of mission critical, core
industrial enterprise level NLG software technologies.
"We look forward to being in a position to announce further
operational developments in due course."
Contacts:
Arria NLG plc Tel +44 (0) 20 7100 4540
Stuart Rogers, Chairman and
Chief Executive Officer
----------------------------------- -------------------------------------------------------------------
Allenby Capital, Nominated Adviser Tel: +44 (0)20 3328 5656
and Broker
Jeremy Porter
Nick Naylor
James Reeve
----------------------------------- -------------------------------------------------------------------
Walbrook, Financial PR and IR Tel: 44 (0)20 7933 8792
Bob Huxford arria@walbrookpr.com
Guy McDougall
----------------------------------- -------------------------------------------------------------------
Overview
Arria is a UK headquartered software development business. Its
core product, the Arria NLG Engine, originated from research at the
University of Aberdeen, a leading institution in the field of
Natural Language Generation. Arria's target is to be the global
leader in the development and deployment of mission critical, core
industrial, enterprise level NLG software technologies.
Its technology is already deployed in a mission critical
environment, monitoring large scale industrial machinery located on
oil and gas production platforms in deepwater Gulf of Mexico for a
major global oil and gas company. It is also in use at the Met
Office.
Chairman's Statement
Arria NLG has had a successful year of growth and development on
a number of fronts, all in accordance with the Group's objective to
be the global leader in the development and deployment of mission
critical, core industrial, enterprise level analysis and natural
language reporting on large data sets.
Since the end of our last fiscal year on 30 September 2013,
Arria NLG plc has completed a successful private placement fund
raise of US$15.8 million, completed the full acquisition of
Data2Text Limited and begun to trade publicly on AIM, a market
operated by the London Stock Exchange.
Although it is early days for the Group's business, its
technology is already deployed in a mission critical environment
monitoring large scale industrial machinery located on oil and gas
production platforms in deepwater Gulf of Mexico for a major global
oil and gas company and the technology also is deployed at a
government meteorology service.
The Group's core technology, the Arria NLG Engine, is an
advanced software technology that through knowledge capture,
analysis and communication seeks to emulate the analysis and
reporting performed by experts working within the relevant
enterprise. It analyses large sets of data and makes sense of them.
It can automatically make large sets of data communicate directly
to users, not merely in numbers or spread sheets that require
further analysis and explanation, but in rich, compelling
narratives intended to replicate what would have been written by
those experts.
A key objective of Big Data analytics is to generate plain
English narratives which people can use to make better decisions
and to work more efficiently, adding value to business. Today this
process of producing what is known as "actionable analytics" still
depends on intervention by human experts. The acute shortage of
such human experts is a significant limitation on releasing the
value locked within Big Data. The Arria NLG Engine has the
potential to unlock that value by effectively undertaking the
expert's role in respect of defined analytical and reporting
tasks.
Arria NLG has developed a commercial system for oil and gas, an
industry that is especially concerned about "knowledge loss" as
experienced experts retire. Both cognitive psychology and our
experiences suggest that formation of new experts by automatically
generating high-quality reports identifying key facts and
highlighting relationships between them can narrow the performance
gap between novice and experienced experts. NLG software works
around the clock helping experts improve the performance and safety
of the most complex, large-scale production equipment being used by
global corporations.
We are greatly encouraged by the growing interest in Arria's
core technology from companies that are now aware of our
capabilities in the oil and gas sector through industry
conferences, company presentations and news articles published in
connection with the AIM flotation. We are confident that we will
advance our existing presence in the oil and gas sector and that
over the coming months we will achieve initial traction with new
clients whilst extending our engagements with our existing
clients.
Key milestones
The Company's key developments during the year to 30 September
2013 are highlighted below:
-- Completed two foundational contracts for use of the Arria NLG
Engine by a client in the oil and gas sector, one for 2013
licensing of the Arria NLG Engine to monitor 28 compressors on six
oil platforms in the Gulf of Mexico, and the other for expanding
the use of the Arria NLG Engine across additional equipment
classes;
-- Concluded the acquisition of the 80% of Data2Text Limited
that Arria did not own, ahead of the listing on AIM;
-- Successfully concluding a US$4.5 million private placement fund raising;
-- Successfully concluding a US$15.8 million private placement fund raising;
-- Invested significantly in the further development and
protection of the Groups' intellectual property portfolio;
-- Continued significant forward momentum with Data2Text's
existing client base, and working to fill the prospect pipeline in
the oil and gas, financial services, and healthcare sectors;
-- Continued investment into the development of the core Arria NLG Engine; and
-- Finalised the Group's governance and management structure
befitting of a global enterprise in preparation for the Company's
admission to AIM (which occurred on 5 December 2013).
We were also pleased to announce, on 23 December 2013, our
continuing relationship with Shell Exploration and Production
Company ("Shell") on a month by month basis (starting 1 January
2014) until such time as new agreements are signed between us. The
terms of the extension include Shell's continued usage of the Arria
NLG Engine in the Gulf of Mexico and for on-going support work. We
are also discussing the project definition to be included in longer
term agreements for Shell's usage of the Arria NLG Engine and
associated services, on terms and conditions to be determined.
Financials
Turnover for the period was GBP816,178 (period ended 30
September 2012: GBP62,554). This was predominantly attributable to
the Company's contract with its oil and gas client. During 2013 the
Group raised US$20.3 million (GBP4.2 million of which was raised
post year end) and this has been used to fund the acquisition of
Data2Text Limited, the development of the Arria NLG Engine, costs
of securing a public listing of the Company's shares, marketing of
the Group's services to potential new clients and expanding the
Group's portfolio of patent applications. As a result of these
heavy investments in the development of the Group's business, the
Company reported a loss before tax of GBP13.0 million (2012 loss
before tax: GBP6.5m).
As we invest in our technology and commercial relationships, and
given the stage of development of the Company, we may seek to raise
additional capital as appropriate opportunities arise.
Outlook
The Directors believe that the prospects for the Group are very
bright. Negotiations continue with existing clients to expand the
scope of our relationships, which the Directors expect to result in
deeper and longer engagements. Simultaneously, the Directors
believe that the platform offered by the flotation on AIM, as well
as the debut of NLG as a keynote concept at the 2013 Society of
Petroleum Engineers Intelligent Energy conference, position the
Group to succeed in the coming months and years in delivering its
vision to be the global leader in the development and deployment of
mission critical, core industrial enterprise level NLG software
technologies.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR
ENDED 30 SEPTEMBER 2013
Note Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
Revenue 3 816,178 62,554
---------------------------------------- ---- ------------- -------------
Cost of sales (139,484) (33,453)
---------------------------------------- ---- ------------- -------------
Gross profit 676,694 29,101
Administrative expenses
* Share-based payments (1,113,135) (385,624)
(3,119,687) (529,167)
* Amortisation of intangibles - (1,474,280)
* Impairment of intangibles
* Other administrative costs 4 (9,439,679) (4,152,604)
---------------------------------------- ---- ------------- -------------
Total administrative expenses (13,672,501) (6,541,675)
---------------------------------------- ---- ------------- -------------
Operating loss 4 (12,995,807) (6,512,574)
Finance income 933 174
Finance expense (17,170) (7,453)
---------------------------------------- ---- ------------- -------------
Loss before tax (13,012,044) (6,519,853)
---------------------------------------- ---- ------------- -------------
Taxation credit 587,376 248,707
---------------------------------------- ---- ------------- -------------
Loss for the year/period (12,424,668) (6,271,146)
---------------------------------------- ---- ------------- -------------
Other comprehensive income - -
Total comprehensive loss for the
year/period (12,424,668) (6,271,146)
---------------------------------------- ---- ------------- -------------
Attributable to:
-owners of the parent (10,747,358) (5,216,140)
-non-controlling interests (1,677,310) (1,055,006)
---------------------------------------- ---- ------------- -------------
Total comprehensive income for
the year/period (12,424,668) (6,271,146)
Loss per share
Basic and diluted loss per share 5(0.18) (0.27)
COMPANY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30
SEPTEMBER 2013
Note Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
Revenue 530,000 -
---------------------------------------- ----- ------------- -------------
Administrative expenses
* Share-based payments (1,113,135) (385,624)
* Other administrative costs 4 (8,726,452) (3,954,396)
---------------------------------------- ----- ------------- -------------
Total administrative expenses (9,839,587) (4,340,020)
---------------------------------------- ----- ------------- -------------
Operating loss 4 (9,309,587) (4,340,020)
Finance income 36 -
Finance expense (17,170) (7,454)
---------------------------------------- ----- ------------- -------------
Loss before tax (9,326,721) (4,347,474)
---------------------------------------- ----- ------------- -------------
Taxation credit - -
---------------------------------------- ----- ------------- -------------
Loss for the year/period (9,326,721) (4,347,474)
---------------------------------------- ----- ------------- -------------
Other comprehensive income - -
Total comprehensive loss for the
year/period (9,326,721) (4,347,474)
---------------------------------------- ----- ------------- -------------
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER
2013
2013 2012
GBP GBP
ASSETS
Non-current assets
Goodwill 14,352,865 14,352,865
Other intangible assets 14,481,814 17,028,210
Property, plant and equipment 249,301 96,735
Trade and other receivables 167,736 169,716
29,251,716 31,647,526
--------------------------------- ----------- -----------
Current assets
Trade and other receivables 1,434,963 367,291
Cash and cash equivalents 3,939,457 8,866,018
5,374,420 9,233,309
--------------------------------- ----------- -----------
TOTAL ASSETS 34,626,136 40,880,835
--------------------------------- ----------- -----------
EQUITY AND LIABILITIES
Equity attributable to owners of
the parent
Share capital 35,785 33,285
Class A preference share capital 24,551 17,702
Class B preference share capital 5,078 5,078
Share premium 4,221,607 11,129,796
Merger reserve 3,130,832 3,130,832
Accumulated losses (2,497,290) (4,830,516)
--------------------------------- ----------- -----------
4,920,563 9,486,177
Non-controlling interest 24,403,594 26,080,904
--------------------------------- ----------- -----------
TOTAL EQUITY 29,324,157 35,567,081
Non-current liabilities
Deferred tax 2,211,917 2,799,293
Current liabilities
Trade and other payables 2,743,999 2,175,659
Borrowings 346,063 338,802
--------------------------------- ----------- -----------
TOTAL LIABILITIES 3,090,062 2,514,461
5,301,979 5,313,754
--------------------------------- ----------- -----------
TOTAL EQUITY AND LIABILITIES 34,626,136 40,880,835
--------------------------------- ----------- -----------
COMPANY STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER
2013
2013 2012
GBP GBP
ASSETS
Non-current assets
Investment in subsidiaries 3,476,592 3,460,912
Other intangible assets 471,334 -
Property, plant and equipment 200,969 83,712
Trade and other receivables 167,636 169,716
-------------------------------------- --------- -----------
4,316,531 3,714,340
------------------------------------- --------- -----------
Current assets
Trade and other receivables 2,247,131 615,079
Cash and cash equivalents 3,391,238 8,594,150
-------------------------------------- --------- -----------
5,638,369 9,209,229
------------------------------------- --------- -----------
TOTAL ASSETS 9,954,900 12,923,569
-------------------------------------- --------- -----------
EQUITY AND LIABILITIES
Equity attributable to owners of
the parent
Share capital 35,785 33,285
Class A preference share capital 24,551 17,702
Class B preference share capital 5,078 5,078
Share premium 4,221,607 11,129,796
Merger reserve 3,130,832 3,130,832
Accumulated losses (207,987) (3,961,850)
-------------------------------------- --------- -----------
TOTAL EQUITY 7,209,866 10,354,843
-------------------------------------- --------- -----------
Current liabilities
Trade and other payables 2,398,971 2,229,924
Borrowings 346,063 338,802
-------------------------------------- --------- -----------
TOTAL LIABILITIES 2,745,034 2,568,726
TOTAL EQUITY AND LIABILITIES 9,954,900 12,923,569
-------------------------------------- --------- -----------
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED
30 SEPTEMBER 2013
Attributable to equity owners of the company
------------------------------------------------------------------------------------------------
Ordinary Preference Share Premium Merger Accumulated Total Non- Total
Share Share Reserve Losses controlling Equity
Capital Capital interest
GBP GBP GBP GBP GBP GBP GBP GBP
--------------------- --- ----------- ----------- --------------- ------------ ------------- ------------- ------------- ---------------
As at 17 - - - - - - - -
October
2011
Issue of
shares 33,285 21,700 10,428,876 3,130,832 - 13,614,693 - 13,614,693
Conversion
of loans
& loan notes - 1,080 700,920 - - 702,000 - 702,000
Share based
payment
expense - - - - 385,624 385,624 385,624
On acquisition
of subsidiary
undertakings - - - - - - 27,135,910 27,135,910
Total contributions
by owners
of the company 33,285 22,780 11,129,796 3,130,832 385,624 14,702,317 27,135,910 41,838,227
Total comprehensive
loss - - - - (5,216,140) (5,216,140) (1,055,006) (6,271,146)
As at 30
September
2012 33,285 22,780 11,129,796 3,130,832 (4,830,516) 9,486,177 26,080,904 35,567,081
--------------------- --- ----------- ----------- --------------- ------------ ------------- ------------- ------------- ---------------
As at 1
October
2012 33,285 22,780 11,129,796 3,130,832 (4,830,516) 9,486,177 26,080,904 35,567,081
Issue of
shares 2,500 6,849 5,336,786 - - 5,346,135 - 5,346,135
Share issue
transaction
costs - - (172,198) - - (172,198) - (172,198)
Share based
payment
expense
Reclassification
of equity-settled
share based - - - - 1,113,135 1,113,135 1,113,135
payments
to cash
settled - - - - (105,328) (105,328) (105,328)
Capital
reduction - - (12,072,777) - 12,072,777 - - -
--------------------- --- ----------- ----------- --------------- ------------ ------------- ------------- ------------- ---------------
Total contributions
by owners
of the company 2,500 6,849 (6,908,189) - 13,080,584 6,181,744 - 6,181,744
Total comprehensive
loss - - - - (10,747,358) (10,747,358) (1,677,310) (12,424,668)
--------------------- --- ----------- ----------- --------------- ------------ ------------- ------------- ------------- ---------------
As at 30
September
2013 35,785 29,629 4,221,607 3,130,832 (2,497,290) 4,920,563 24,403,594 29,324,157
--------------------- --- ----------- ----------- --------------- ------------ ------------- ------------- ------------- ---------------
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30
SEPTEMBER 2013
Attributable to equity owners of the company
-----------------------------------------------
Ordinary Preference Share Merger Accumulated Total
Share Share Premium Reserve Losses Equity
Capital Capital
GBP GBP GBP GBP GBP GBP
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
As at 17 October
2011 - - - - - -
Issue of shares 33,285 21,700 10,428,876 3,130,832 - 13,614,693
Conversion
of loans notes
& loan notes - 1,080 700,920 - - 702,000
Share based
payment expense - - - - 385,624 385,624
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
Total
contributions
by owners
of the company 33,285 22,780 11,129,796 3,130,832 385,624 14,702,317
Total
comprehensive
loss - - - - (4,347,474) (4,347,474)
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
As at 30
September
2012 33,285 22,780 11,129,796 3,130,832 (3,961,850) 10,354,843
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
As at 1 October
2012 33,285 22,780 11,129,796 3,130,832 (3,961,850) 10,354,843
Issue of shares 2,500 6,849 5,336,786 - - 5,346,135
Share issue
transaction
costs - - (172,198) - - (172,198)
Share based
payment expense
Reclassification
of
equity-settled - - - - 1,113,135 1,113,136
share based
payments to
cash settled - - - - (105,328) (105,328)
Capital
reduction - - (12,072,777) - 12,072,777 -
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
Total
contributions
by owners
of the company 2,500 6,849 (6,908,189) - 13,080,584 6,181,744
Total
comprehensive
loss - - - - (9,326,721) (9,326,721)
As at 30
September
2013 35,785 29,629 4,221,607 3,130,832 (207,987) 7,209,866
------------------ ------------------- ---------------------- ---------------------------------- ----------------------- ------------------- --------------------
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30
SEPTEMBER 2013
Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
(Loss) before interest and taxation (12,995,807) (6,512,574)
Adjustments for:
Depreciation of plant and equipment 67,378 8,236
Amortisation of intangible assets 3,119,687 529,167
Impairment of intangibles - 1,474,280
Share based payments 1,113,135 385,624
--------------------------------------------- ------------- -------------
Operating cash flows before movements
in working capital (8,695,607) (4,115,267)
--------------------------------------------- ------------- -------------
Increase in trade and other receivables (417,895) (373,980)
Increase in trade and other payables 599,297 2,017,832
--------------------------------------------- ------------- -------------
Net cash used in operating activities (8,514,205) (2,471,415)
Cash flows from investing activities
Interest received 933 174
Cash acquired on acquisition - 46,360
Purchase of plant and equipment (220,194) (94,732)
Proceeds from sale of plant and
equipment 250 -
Purchase of intangible assets (573,291) -
Net cash used in investing activities (792,302) (48,198)
--------------------------------------------- ------------- -------------
Cash flows from financing activities
Proceeds from loan notes and other
debt - 567,947
Repayment of loan notes and other
debt (13,801) (229,146)
Interest paid (17,170) (7,453)
Share issue transaction costs (819,993) -
Proceeds from issue of ordinary
and preference shares 5,346,135 11,054,283
Net cash from financing activities 4,495,171 11,385,631
--------------------------------------------- ------------- -------------
Net (decrease)/increase in cash
and cash equivalents (4,811,336) 8,866,018
Cash and cash equivalents at the
beginning of the year/period
Exchange (losses)/gains on cash 8,866,018 -
and cash equivalents
(115,225) -
---------------------------------------- --- ------------- -------------
Cash and cash equivalents at end
of the year/(period) 3,939,457 8,866,018
--------------------------------------------- ------------- -------------
COMPANY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER
2013
Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
Profit/(Loss) before interest and
taxation (9,309,587) (4,340,020)
Adjustments for:
Depreciation of plant and equipment 55,048 4,520
Share based payments 1,113,135 385,624
--------------------------------------------- ------------- -------------
Operating cash flows before movements
in working
capital (8,141,404) (3,949,876)
--------------------------------------------- ------------- -------------
Increase in trade and other receivables (982,174) (658,295)
Increase in trade and other payables 389,916 2,040,011
--------------------------------------------- ------------- -------------
Net cash used in operating activities (8,733,662) (2,568,160)
Cash flows from investing activities
Interest received 36 -
Purchase of plant and equipment (172,305) (88,232)
Investment in subsidiaries (15,680) -
Purchase of intangible assets (471,334) -
Subscription in Data2Text Limited (189,913) (135,089)
Net cash used in investing activities (849,196) (223,321)
--------------------------------------------- ------------- -------------
Cash flows from financing activities
Proceeds from loan notes & other
debt - 567,947
Repayment of loan notes & other debt (13,801) (229,146)
Interest paid (17,170) (7,453)
Capitalised Equity Transactions (819,993) -
Proceeds from issue of ordinary and
preference shares 5,346,135 11,054,283
Net cash from financing activities 4,495,171 11,385,631
--------------------------------------------- ------------- -------------
Net (decrease)/Increase in cash and
cash equivalents (5,087,687) 8,594,150
Cash and cash equivalents at the 8,594,150 -
beginning of year/period
Exchange gains/Losses) on cash and (115,225) -
cash equivalents
Cash and cash equivalents at end
of year/period 3,391,238 8,594,150
--------------------------------------------- ------------- -------------
Notes
1. Basis of Preparation
The financial information presented in this Preliminary
Announcement is extracted from the Group's audited financial
statements for the year ended 30 September 2013.
The preliminary announcement for the year ended 30 September
2013 was approved by the Board of Directors on 22 January 2014. The
financial information set out above does not constitute statutory
accounts within the meaning of Section 434 of the Companies Act
2006. Statutory accounts for the year ended 30 September 2013 will
be delivered to shareholders by the end of January, together with
notice of the Annual General Meeting. A copy of the Statutory
accounts will be available on the Company's website, www.arria.com,
shortly. The auditors' report on the financial statements for the
year ended 30 September 2013 is unqualified and does not contain a
statement under section 498(2) or (3) of the Companies Act 2006.
The Group's financial statements have been prepared in accordance
with International Financial Reporting Standards (IFRS) as adopted
by the EU.
2. Going Concern
At the balance sheet date, the group has net cash of GBP3.9
million. Since this date, additional cash of GBP8.3 million has
been received through fund raising, and the Company has
successfully listed on the Alternative Investment Market of the
London Stock Exchange ("AIM"), which the Directors believe will
facilitate further equity funding when necessary.
The consolidated balance sheet has net assets of GBP29,324,157
at 30 September 2013. The Group made a loss before tax of
GBP13,012,044 and expects to continue to make losses as it invests
in developing new markets for its products and securing its
position in commercializing Natural Language Generation.
The Directors have prepared a business plan and cash flow
forecast for the period to 31 January 2015. The forecast contains
certain assumptions about future sales, the gross margins
achievable and the level of other operating expenses. In addition
to this business plan, the Directors have considered various
downside sensitivities and management actions that could be
undertaken to ensure the ongoing operation of the Group.
Based on the supporting business plan and expectation of further
equity fundraising, the Directors believe the Group has adequate
resources to continue in operational existence for the foreseeable
future and accordingly, continue to adopt the going concern basis
in preparing the financial statements.
3. Segment information
The Board of Directors is the group's chief operating
decision-maker. Management has determined the operating segments
based on the information reviewed by the Board of Directors for the
purpose of resource allocation and assessment of performance and it
is considered that is one operating segment, being the provision of
computer software which is all generated from one geographical
location, being the UK. Corporate costs relate to unallocated head
office costs.
The following is an analysis of revenues and results from
operations and assets by business segment:
Revenue
Group Group
Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
---------------------------------------------------------- -------- -------------- --------------
Provision of computer software 816,178 62,554
Total 816,178 62,554
---------------------------------------------------------- -------- -------------- --------------
Loss before tax
Group Group Company Company
Year ended Period ended Year ended Period ended
30 September 30 September 30 September 30 September
2013 2012 2013 2012
GBP GBP GBP GBP
---------------------- -------------------------- ---------------- -------------- --------------
Provision of computer
software (3,137,537) (2,037,293) - -
Corporate costs (9,874,507) (4,482,560) (9,326,721) (4,347,474)
(13,012,044) (6,519,853) (9,326,721) (4,347,474)
---------------------- -------------------------- ---------------- -------------- --------------
Assets
Group Group Company Company
Year ended Period ended Year ended Period ended
30 September 30 September 30 September 30 September
2013 2012 2013 2012
GBP GBP GBP GBP
---------------------- -------------------------- ---------------- -------------- --------------
Provision of computer
software 30,092,428 31,880,982 - -
Corporate 4,533,708 8,999,853 9,954,900 12,923,569
--------------
34,626,136 40,880,835 9,954,900 12,923,569
---------------------- -------------------------- ---------------- -------------- --------------
Entity-wide information
Total revenue from activities by geographical area is detailed
below:
Revenue by geography
Group Group
Year ended Period ended
30 September 30 September
2013 2012
GBP GBP
---------------------------------------- -------------- --------------
Revenue derived from the UK 13,420 5,750
Revenue derived from the Netherlands - 56,804
Revenue derived from the United States 802,758 -
Total Revenue 816,178 62,554
---------------------------------------- -------------- --------------
Revenue of individual customers accounting
for greater than 10% of revenue Group Group
Year ended Year ended
30 September 30 September
2013 2012
GBP GBP
------------------------------------------- -------------- --------------
Customer A- Netherlands - 56,804
Customer A - United States 802,758 -
Customer B - United Kingdom 13,420 5,750
Total Revenue 816,178 62,554
------------------------------------------- -------------- --------------
There has been a change in the classification of goodwill and
intangible assets from corporate to provision of computer software
to better reflect the substance of the assets. Comparatives have
been restated.
4. Operating loss
The Group's operating
loss has been arrived Group Group Company Company
at after charging: Year ended Period ended Year ended Period ended
30 September 30 September 30 September 30 September
2013 2012 2013 2012
GBP GBP GBP GBP
----------------------------- -------------- -------------- -------------- --------------
Employee costs 5,031,439 1,126,906 4,437,218 826,206
Operating lease rentals 259,809 36,066 238,049 29,081
Depreciation charge 68,009 8,236 55,679 4,520
Research and development 9,360 552,778 9,360 552,778
Legal and professional
fees 3,023,963 2,509,350 3,000,862 2,509,350
Foreign exchange gains
/ (losses) 34,436 147,364 19,606 147,364
Auditors remuneration
Audit of Company 50,000 56,250 50,000 56,250
Audit of subsidiaries 14,000 18,750 14,000 18,750
----------------------------- -------------- -------------- -------------- --------------
Total audit 64,000 75,000 64,000 75,000
----------------------------- -------------- -------------- -------------- --------------
Other assurance services:
Assurance services provided
as part of IPO process 688,552 169,837 688,552 169,837
Tax compliance services 5,500 - 5,500 -
Tax advisory services 262,774 10,000 262,774 10,000
----------------------------- -------------- -------------- -------------- --------------
Services related to taxation 268,274 10,000 268,274 10,000
Other non-audit services 86,687 - 86,687 -
----------------------------- -------------- -------------- -------------- --------------
Total non-audit services 1,043,513 179,837 1,043,513 179,837
----------------------------- -------------- -------------- -------------- --------------
Total fees 1,107,513 254,837 1,107,513 254,837
----------------------------- -------------- -------------- -------------- --------------
5. Loss per share
Basic earnings per share for each period is calculated by dividing
the earnings attributable to shareholders by the weighted average
number of ordinary shares in issue during the period based on
the capital structure of the Company. Details of the earnings
and weighted average number of ordinary shares used in each calculation
are set out below. As the entity is loss making, diluted and basic
earnings per share are equal.
Year ended Period ended
30 September 30 September
2013 2012
----------------------------------- ------------- -------------
Loss attributable to owners of the
parent (10,747,358) (5,216,140)
Weighted average number of shares 60,621,702 19,354,731
Basic and diluted earnings per share (0.18)p (0.27)p
6. Posting of accounts and notice of annual general meeting
A copy of the annual report and accounts will be posted to
shareholders of the Company by the end of January 2014, along with
a notice of the Company's annual general meeting, to be held on 31
March, 2014, at 2.00pm at the offices of Travers Smith LLP, 10 Snow
Hill, London, EC1A 2AL. A copy of the report and accounts and
general meeting notice will also be available for download from the
Company's website, www.arria.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR SEAESEFLSEIF
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