Half Yearly Report
March 03 2010 - 2:00AM
UK Regulatory
TIDMONL
RNS Number : 9618H
On-Line PLC
03 March 2010
('On-line' or 'the Company')
On-line today announces unaudited interim results for the six months ended 31
December 2009.
Chairman's Statement
On-line has continued to work with its investments and has made a small
operating profit of GBP5,000 (2008: GBP5,000) for the six months up to December
2009.
It has been a good six months, we have made a small profit for the period and
ADVFN plc completed the purchase of ALLIPO plc. This is a good move as it
secures the ALLIPO Systems and Throgmorton Street Capital bringing them all
under the ADVFN umbrella.
ADVFN PLC
ADVFN has built on the past and has moved forward on all fronts as you can see
from
its figures below.
Turnover up 19% to GBP4,049,000 ( 2008: GBP3,415,000)
Cash Flow positive for the six month period with cash in hand of GBP1.763M,
(2008: GBP1.243M )
Loss for the period- down 28% to GBP330,000 (2008: GBP460,000)
Operating Loss - down 60% to GBP160,000 (2008: GBP395,000)
ADVFN user numbers - up 20% to 1.8M (2008: 1.5M).
Michael Hodges
Chairman
2nd March 2010
Contacts:
+----------------------+--------------------------+----------------------+
| Michael Hodges | mikeh@advfn.com | |
+----------------------+--------------------------+----------------------+
| Francesca De Franco, | francescad@advfn.com | 020 7070 0932 |
| PR | | |
+----------------------+--------------------------+----------------------+
| Fiona Kindness, Grant Thornton Corporate | 020 7728 3414 |
| Finance (Nominated Adviser) | |
+----------------------+--------------------------+----------------------+
On-line PLC
Profit and Loss Accounts
for the six months ended 31 December 2009
+-------------------------------+--------------------+------------------------+------------------------+
| | Six months | Six months | Year |
| | ended | ended | ended |
+-------------------------------+--------------------+------------------------+------------------------+
| | 31 December | 31 December | 30 June |
| | 2009 | 2008 | 2009 |
+-------------------------------+--------------------+------------------------+------------------------+
| | Unaudited | Unaudited | Audited |
+-------------------------------+--------------------+------------------------+------------------------+
| | GBP'000 | GBP'000 | GBP'000 |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Turnover | 52 | 70 | 126 |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Administrative expenses | (47) | (65) | (95) |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Operating profit | 5 | 5 | 31 |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Amount written off on | - | (310) | (298) |
| investments | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Profit/ (loss) on ordinary | 5 | (305) | (267) |
| activities before taxation | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Tax on profit/(loss) on | - | - | - |
| ordinary activities | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Profit/(loss) on ordinary | 5 | (305) | (267) |
| activities after taxation | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| | | | |
+-------------------------------+--------------------+------------------------+------------------------+
| Profit /(Loss) per ordinary | 0.07p | (3.98p) | (3.48p) |
| share | | | |
+-------------------------------+--------------------+------------------------+------------------------+
On-line PLC
Balance Sheet
at 31 December 2009
+---------------------------------+--------------+-------------+------------+
| | 31 December | 31 December | 30 June |
| | 2009 | 2008 | 2009 |
+---------------------------------+--------------+-------------+------------+
| | Unaudited | Unaudited | Audited |
+---------------------------------+--------------+-------------+------------+
| | GBP'000 | GBP'000 | GBP'000 |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Fixed assets | | | |
+---------------------------------+--------------+-------------+------------+
| Investments | | | |
| | 871 | 859 | 871 |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Current assets | | | |
+---------------------------------+--------------+-------------+------------+
| Debtors | 69 | 46 | 62 |
+---------------------------------+--------------+-------------+------------+
| Cash at bank and in hand | - | 23 | 3 |
+---------------------------------+--------------+-------------+------------+
| | 69 | 69 | 65 |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Creditors: amounts falling due | | | |
| within | | | |
+---------------------------------+--------------+-------------+------------+
| one year | (55) | (92) | (56) |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Net current assets/ | 14 | (23) | 9 |
| (liabilities) | | | |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Total assets less current | 885 | 836 | 880 |
| liabilities | | | |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Capital and reserves | | | |
+---------------------------------+--------------+-------------+------------+
| Called up share capital | 3,242 | 3,242 | 3,242 |
+---------------------------------+--------------+-------------+------------+
| Share premium account | 2,205 | 2,205 | 2,205 |
+---------------------------------+--------------+-------------+------------+
| Option valuation reserve | 17 | 11 | 17 |
+---------------------------------+--------------+-------------+------------+
| Profit and loss account | (4,579) | (4,622) | (4,584) |
+---------------------------------+--------------+-------------+------------+
| | | | |
+---------------------------------+--------------+-------------+------------+
| Total shareholders' funds | 885 | 836 | 880 |
+---------------------------------+--------------+-------------+------------+
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2009
+---------------------------------+-------------+-------------+-----------+
| | Six months | Six months | Year |
| | ended | ended | ended |
+---------------------------------+-------------+-------------+-----------+
| | 31 December | 31 December | 30 June |
| | 2009 | 2008 | 2009 |
+---------------------------------+-------------+-------------+-----------+
| | Unaudited | Unaudited | Audited |
+---------------------------------+-------------+-------------+-----------+
| | GBP'000 | GBP'000 | GBP'000 |
+---------------------------------+-------------+-------------+-----------+
| | | | |
+---------------------------------+-------------+-------------+-----------+
| Net cash (outflow) from | (3) | (37) | (57) |
| operating activities | | | |
+---------------------------------+-------------+-------------+-----------+
| | | | |
+---------------------------------+-------------+-------------+-----------+
| (Decrease) in cash | (3) | (37) | (57) |
+---------------------------------+-------------+-------------+-----------+
On-line PLC
Statement of Total Recognised Gains and Losses
for the six months ended 31 December 2009
+---------------------------------+---------------+-------------------+-------------------+
| | Six months | Six months | Year |
| | ended | ended | ended |
+---------------------------------+---------------+-------------------+-------------------+
| | 31 December | 31 December | 30 June |
| | 2009 | 2008 | 2009 |
+---------------------------------+---------------+-------------------+-------------------+
| | Unaudited | Unaudited | Audited |
+---------------------------------+---------------+-------------------+-------------------+
| | GBP'000 | GBP'000 | GBP'000 |
+---------------------------------+---------------+-------------------+-------------------+
| | | | |
+---------------------------------+---------------+-------------------+-------------------+
| Profit/(loss) for the period | 5 | (305) | (267) |
+---------------------------------+---------------+-------------------+-------------------+
| | | | |
+---------------------------------+---------------+-------------------+-------------------+
| Unrealised loss on current | - | (32) | (32) |
| asset investments | | | |
+---------------------------------+---------------+-------------------+-------------------+
| | | | |
+---------------------------------+---------------+-------------------+-------------------+
| Total recognised gains and | 5 | (337) | (299) |
| (losses) for the period | | | |
+---------------------------------+---------------+-------------------+-------------------+
On-line PLC
Notes to the interim statement
for the six months ended 31 December 2009
1. The unaudited interim financial information is for the six month
period ended 31 December 2009. 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 2009, which were prepared under the historical cost convention as
modified by the revaluation of current asset investments 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 2009 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
2009 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. Loss per ordinary share
+-----------------------+---------+----------------+-------------------+------------------+
| | | Six months | Six months | Year |
| | | ended | ended | ended |
+-----------------------+---------+----------------+-------------------+------------------+
| | | 31 December | 31 December | 30 June |
| | | 2009 | 2008 | 2009 |
+-----------------------+---------+----------------+-------------------+------------------+
| | | GBP'000 | GBP'000 | GBP'000 |
+-----------------------+---------+----------------+-------------------+------------------+
| | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
| Profit / (Loss) for |GBP'000 | 5 | (305) | (267) |
| the period | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
| | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
| Weighted average | '000 | 7,662 | 7,662 | 7,662 |
| number of shares | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
| | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
| Profit / (Loss) per | p | 0.07p | (3.98p) | (3.48p) |
| share | | | | |
+-----------------------+---------+----------------+-------------------+------------------+
3. Reserves
+-------------------------------+----------------------+-------------+--------------------+
| | Profit and | Option | Share |
| | loss | valuation | premium |
| | account | reserve | account |
+-------------------------------+----------------------+-------------+--------------------+
| | GBP'000 | GBP'000 | GBP'000 |
+-------------------------------+----------------------+-------------+--------------------+
| | | | |
+-------------------------------+----------------------+-------------+--------------------+
| At 1 July 2009 | (4,584) | 17 | 2,205 |
+-------------------------------+----------------------+-------------+--------------------+
| Unrealised loss on current | | - | |
| asset investments | | | - |
+-------------------------------+----------------------+-------------+--------------------+
| Profit retained for the | 5 | - | |
| period | | | - |
+-------------------------------+----------------------+-------------+--------------------+
| | | | |
+-------------------------------+----------------------+-------------+--------------------+
| At 31 December 2009 | | | |
| | (4,579) | 17 | 2,205 |
+-------------------------------+----------------------+-------------+--------------------+
4. Reconciliation of operating loss to net cash outflow from
operating activities
+-------------------------------+----------------+------------------+---------------+
| | Six months | Six months | Year |
| | ended | ended | ended |
+-------------------------------+----------------+------------------+---------------+
| | 31 December | 31 December | 30 June |
| | 2009 | 2008 | 2009 |
+-------------------------------+----------------+------------------+---------------+
| | GBP'000 | GBP'000 | GBP'000 |
+-------------------------------+----------------+------------------+---------------+
| | | | |
+-------------------------------+----------------+------------------+---------------+
| Operating profit | 5 | 5 | 31 |
+-------------------------------+----------------+------------------+---------------+
| Equity settled share based | - | - | 6 |
| payments | | | |
+-------------------------------+----------------+------------------+---------------+
| (Increase) in debtors | (7) | (38) | (54) |
+-------------------------------+----------------+------------------+---------------+
| (Decrease) in creditors | (1) | (4) | 40 |
+-------------------------------+----------------+------------------+---------------+
| | | | |
+-------------------------------+----------------+------------------+---------------+
| Net cash (outflow) / inflow | | | (57) |
| from operating activities | (3) | (37) | |
+-------------------------------+----------------+------------------+---------------+
5. The directors do not recommend the payment of a dividend.
6. Web communications
Provisions of the 2006 Act which came into force in January 2007 enable
companies to communicate with members by electronic and/or website
communications. The New Articles allow communications to members in electronic
form and, in addition, they also permit the Company to take advantage of the
provisions relating to website communications. Before the Company can
communicate with a member by means of a website communication, the relevant
member must be asked individually by the Company to agree that the Company may
send or supply documents or information to him by means of a website and the
Company must either have received a positive response or have received no
response within the period of 28 days beginning with the date on which the
request was sent. The Company will notify the member (either in writing, or by
other permitted means) when a relevant document or information is placed on the
website and a member can always request a hard copy version of the document or
information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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