TIDMONL
RNS Number : 7323Y
On-Line PLC
05 March 2012
On-line PLC
('On-line' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December
2011
On-line today announces unaudited interim results for the six
months ended 31 December 2011.
Chairman's Statement
On-line has continued to work with its investments and has made
an operating profit of GBP22,000 (2010: GBP4,000) for the six
months up to December 2011.
ADVFN PLC
ADVFN has continued to build its services across the world.
Below are a few extracts from its interim statement:
ADVFN's half year to the end of December 2011 represents another
robust performance especially when set against the background of an
unprecedented period of financial dislocation.
ADVFN has come out ahead of its previous sales performance in
first half of last year and overcome a wide spread chilling effect
created by the uncertainties of the euro crisis. This strong
relative performance augurs well for the future. Meanwhile 2012 has
started well. There appears to be no single trigger, but activity
levels have made a dramatic rally from the level of the last three
months of 2011 when investors were paralysed by the events of the
sovereign debt crisis.
2012 has had an extremely strong start and this will create
strong support for growth over the coming months.
Without the unfortunate turbulence of 2011 our results would
have been significantly stronger.
2012 appears to be materially different in character from
2009-2011 and in its early stages at least it seems possible that
equities may be experiencing a secular shift towards investment in
stocks.
This is of course good news for shareholders in general and
investors in ADVFN in particular.
Michael Hodges
Chairman
5 March 2012
Contacts:
Clem Chambers clemc@advfn.com
Tom Frew PR, tomf@advfn.com 020 7070 0932
Gerry Beaney/Salmaan Khawaja, Grant Thornton UK LLP (Nominated Adviser) 020 7383 5100
On-line PLC
Profit and Loss Account
for the six months ended 31 December 2011
Six months Six months
ended ended Year ended
31 December 31 December
2011 2010 30 June 2011
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Turnover 86 82 160
Administrative expenses (64) (78) (157)
Profit on ordinary activities
before taxation 22 4 3
Tax on profit on ordinary
activities - - -
------------ ------------- -------------
Profit on ordinary activities
after taxation 22 4 3
Basic profit per ordinary
share 2 0.29p 0.05p 0.04p
Diluted profit per ordinary
share 0.29p 0.05p 0.04p
All operations are continuing.
There were no recognised gains or losses other than the profit
for the period.
On-line PLC
Balance Sheet
at 31 December 2011
31 December 31 December
2011 2010 30 June 2011
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Fixed assets
Investments 868 868 868
---------------------- ---------------------- ----------------
Current assets
Debtors 145 70 81
Cash at bank and in hand - 12 1
---------------------- ---------------------- ----------------
145 82 82
Creditors: amounts falling
due within
one year (87) (56) (50)
---------------------- ---------------------- ----------------
Net current assets 58 26 32
---------------------- ---------------------- ----------------
Total assets less current
liabilities 926 894 900
====================== ====================== ================
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 28 17 24
Profit and loss account 3 (4,549) (4,570) (4,571)
Shareholders' funds 926 894 900
====================== ====================== ================
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2011
Six months Six months
ended ended Year ended
31 December 31 December
2011 2010 30 June 2011
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Note
Net cash (outflow)/ inflow
from operating activities 3 (56) 7 (4)
(Decrease)/ increase in cash (56) 7 (4)
============= ============== ============
On-line PLC
Notes to the interim statement for the six months ended 31
December 2011
1. The unaudited interim financial information is for the six
month period ended 31 December 2011. 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 2011, 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 2011 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 2011 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
ended ended Year ended
31 December 31 December
2011 2010 30 June 2011
GBP'000 GBP'000 GBP'000
Profit for the period GBP'000 22 4 3
Weighted average number
of shares '000 7,662 7,662 7,662
Basic earnings per share p 0.29p 0.05p 0.04p
============== ============== ==================
Weighted average number
of shares '000 7,662 7,662 7,662
Dilutive effect of options '000 46 603 513
-------------- -------------- ------------------
Weighted average number
of shares of diluted
earnings per share 7,708 8,265 8,175
Diluted earnings per
share p 0.29p 0.05p 0.04p
============== ============== ==================
On-line PLC
Notes to the interim statement for the six months ended 31
December 2011
3. Reserves
Profit and Option valuation Share premium
loss account reserve account
GBP'000 GBP'000 GBP'000
At 1 July 2011 (4,571) 24 2,205
Profit retained for the period 22 4 -
At 31 December 2011 (4,549) 28 2,205
================ =================== ================
4. Reconciliation of operating profit to net cash
(outflow)/inflow from operating activities
Six months Six months
ended ended Year ended
31 December 31 December
2011 2010 30 June 2011
GBP'000 GBP'000 GBP'000
Profit on ordinary activity
before taxation 22 4 3
Equity settled share based payments
in the period 4 4 7
(Increase)/decrease in debtors (64) 8 (3)
Decrease in creditors (18) (5) (11)
Net cash (outflow) / inflow
from operating activities (56) 11 (4)
============== ============== =============
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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