IFRS Restatement
29 Junho 2007 - 5:23AM
UK Regulatory
RNS Number:2883Z
London Asia Capital PLC
29 June 2007
(RESTATEMENT) LONDON ASIA CAPITAL PLC
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006
The interim results for the six months ended 30 June 2006 have been restated
under International Financial Reporting Standards.
LONDON ASIA CAPITAL PLC
INCOME STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2006
2006 2005
#'000 #'000
Revenue 811 496
Administrative expenses (734) (408)
----- -----
Operating profit/(loss) 77 88
Interest income 62 20
Increase in value of investments disposed of 170 40
Unrealised profits on revaluation of investments 561 -
Share based payment charge (7) (231)
Finance costs (7) -
----- -----
Profit before taxation 856 (83)
Taxation (13) -
----- -----
Profit for the year 843 (83)
----- -----
Attributable to:
Equity holders of the parent 838 (105)
Minority interest 5 22
----- -----
843 (83)
----- -----
LONDON ASIA CAPITAL PLC
BALANCE SHEETS
30 JUNE 2006
2006 2005
#'000 #'000
Group Group
Non-current assets
Goodwill 319 -
Property, plant and equipment 26 8
Investment in subsidiaries - -
Investments 29,587 13,046
------- -------
29,932 13,054
------- -------
Current assets
Investments 474 245
Trade and other receivables 1,680 1,037
Cash and cash equivalents 4,171 13,068
------- -------
6,325 14,350
------- -------
Total assets 36,256 27,404
------- -------
Current liabilities
Trade and other payables (5,253) (337)
Current tax liabilities (39) -
------- -------
(5,292) (337)
------- -------
Net current assets 1,033 14,013
------- -------
Non-current liabilities
Bank loans (223) (260)
------- -------
Total liabilities (5,515) (597)
------- -------
Net assets 30,741 26,807
------- -------
Equity
Share capital 11,280 10,671
Share premium 21,332 21,048
Share options reserve 469 231
Retained loss (2,475) (5,165)
------- -------
Equity attributable to equity holders of the 30,606 26,785
parent
Minority interest 135 22
------- -------
Total equity 30,741 26,807
------- -------
LONDON ASIA CAPITAL PLC
CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2006
Group Group
2006 2005
#'000 #'000
Net cash from/(used in) operating 1,488 (277)
activities ------ -------
Investing activities
Interest received 62 20
Proceeds on disposal of investments 1,155 -
Purchase of property, plant and equipment (10) (3)
Purchase of investments (1,157) (2,629)
------- -------
Net cash from/(used in) investing 50 (2,612)
activities ------- -------
Financing activities
Proceeds on issue of shares 51 13,073
Repayment of bank loans (18) -
------- -------
Net cash from financing activities 33 13,073
Net increase in cash and cash equivalents 1,571 10,184
Cash and cash equivalents at beginning of 2,600 2,884
year ------- -------
Cash and cash equivalents at end of year 4,171 13,068
------- -------
London Asia Capital plc
Notes to the interim results
Basis of preparation
The results for the six months ended 30 June 2006 are unaudited and have not
been reviewed by the Auditors. They have been restated under International
Financial Reporting Standards.
The financial statements contained in the report do not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985. The
results for the year ended 31 December 2005 were reported on by the auditors and
received an unqualified audit report. Full accounts for the year ended 31
December 2005 have been delivered to the Registrar of Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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