Interim Results
31 Marzo 2008 - 2:00PM
UK Regulatory
RNS Number:1076R
On-Line PLC
31 March 2008
On-line PLC
('On-line' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December 2007
On-line today announces unaudited interim results for the six months ended 31
December 2007.
Chairman's Statement
You will see from our figures below that our turnover is up and we are now
making a small operating profit compared to an operating loss for the same
period last year. However, we have had to include an amount of �87,000 which is
written off on investments resulting in a loss after tax of �83,000 compared to
a loss of �211,000 for the same period last year. Similarly we have reduced our
loss per share from 2.75p last year to 1.08p this year.
ADVFN PLC
ADVFN has once again continued to do well and its numbers are all growing well.
Its turnover was up 26.4% to �3.34M (2006: �2.64M), losses after tax down 39% to
�572,000 (2006: �938,000) and it was cash neutral for the six month period with
cash in hand of �1.367M (June 2007: �1.358M).
Its user numbers are up almost 50% to 1.2M (2006: 810K) and the users for the
whole group are up over 22% to 3.8M at the report date compared to 3.1M at the
last interim report date of 30 March 2007.
ADVFN is a business which is active 24 hours a day, 7 days a week, 365 days a
year and the work involved in running a business operating those sort of hours
across many different Stock Exchanges and distributed around the world is not an
easy task. We are very pleased with the progress made there.
ALL IPO PLC
ALL IPO has continued to bring IPOs to the private investor. However the present
climate has not made that task easy. Consequently its revenues in this area are
still low. The ALL IPO system is in place, is FSA approved and will be ready
once the market conditions improve and the flow of IPOs picks up again.
Rather than standing on the sidelines waiting for the market situation to
change, the company has proactively started to develop the ALL IPO system into
new areas with a series of tools aimed at the professional market. This has
already begun to generate an income which bodes well for its future.
Michael Hodges
Chairman
31st March 2008
Contacts:
Michael Hodges mikeh@advfn.com
Francesca De Franco, PR francescad@advfn.com 020 7070 0932
Fiona Kindness, Grant Thornton UK LLP (Nominated Adviser) 020 7728 3414
On-line PLC
Profit and Loss Accounts
for the six months ended 31 December 2007
Six months ended Six months ended Year ended
31 December 2007 31 December 2006 30 June 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Turnover 59 27 54
Administrative expenses
Equity settled share based payment charge - - (11)
Other administrative expenses (55) (31) (50)
Total administrative expenses (55) (31) (61)
Operating profit / (loss) 4 (4) (7)
Profit on sale of investments - - 1
Amount written off on investments (87) (207) (273)
Net interest - - -
Loss on ordinary activities before taxation (83) (211) (279)
Tax on loss on ordinary activities - - -
Loss on ordinary activities after taxation (83) (211) (279)
Loss per ordinary share (1.08p) (2.75p) (3.6p)
On-line PLC
Balance Sheets
at 31 December 2007
31 December 2007 31 December 2006 30 June 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Fixed assets
Investments 928 1,081 1,015
Current assets
Debtors 33 58 7
Investments 540 796 900
Cash at bank and in hand 33 21 46
606 875 953
Creditors: amounts falling due within
one year (97) (82) (88)
Net current assets 509 793 865
Total assets less current liabilities 1,437 1,874 1,880
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 11 59 11
Profit and loss account (4,021) (3,632) (3,578)
Total shareholders funds 1,437 1,874 1,880
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2007
Six months ended Six months ended Year ended
31 December 2007 31 December 2006 30 June 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Net cash (outflow) / inflow from operating (13) (6) 13
activities
Capital expenditure
Proceeds of disposal of investments - - 10
Loans made to other entities - - (4)
- - 6
(Decrease) / increase in cash (13) (6) 19
On-line PLC
Statement of Total Recognised Gains and Losses
for the six months ended 31 December 2007
Six months ended Six months ended Year ended
31 December 2007 31 December 2006 30 June 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Loss for the period (83) (211) (279)
Unrealised (loss) / gain on current asset (360) 2 65
investments
Total recognised gains and losses for the period (443) (209) (214)
On-line PLC
Notes to the interim statement
for the six months ended 31 December 2007
1. Loss per ordinary share
Six months ended Six months ended Year ended
31 December 2007 31 December 2006 30 June 2007
Loss for the period �'000 (83) (211) (279)
Weighted average number of shares '000 7,662 7,662 7,662
Loss per share p (1.08p) (2.75p) (3.6p)
2. Reserves
Profit and loss Option valuation Share premium
account reserve account
�'000 �'000 �'000
At 1 July 2007 (3,578) 11
2,205
Unrealised loss on current asset investments - -
(360)
Loss retained for the period (83) - -
At 31 December 2007 (4,021) 11 2,205
3. Reconciliation of operating loss to net cash outflow from operating
activities
Six months ended Six months ended Year ended
31 December 2007 31 December 2006 30 June 2007
Operating profit / (loss) 4 (4) (7)
Recognition of equity settled share based payments
in the year (FRS20)
- - 11
(Increase) / decrease in debtors (26) (2) 3
Increase in creditors 9 - 6
Net cash outflow / (inflow) from operating (13) (6) 13
activities
4. The directors do not recommend the payment of a dividend.
5. The financial information contained in this document does not
constitute statutory accounts within the meaning of Section 240 of the Companies
Act 1985. The financial information for the year ended 30 June 2007 is extracted
from the audited financial statements for that period on which the auditors gave
an unqualified report. A copy of those financial statements has been filed with
the Registrar of Companies
6. The interim financial information has been prepared in accordance
with applicable accounting standards and under the historical cost convention.
The principal accounting policies of the Company have remained unchanged from
those set out in the Company's June 2007 Annual Report and Financial Statements.
7. 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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