Interim Results
10 Setembro 2003 - 7:11AM
UK Regulatory
RNS Number:5945P
Aspinalls Online PLC
10 September 2003
The Unaudited Interim Statement of Aspinalls Online plc ("Aspinalls" or "the
Company") for the
six months ended 30 June 2003
Interim Statement
Six months ended 30 June 2003
As set out in my last Chairman's Statement, and following a strategic review by
the Board, on 16 April 2002 the Company's principal operating subsidiary entered
into agreements to outsource to Golden Palace Limited the management of the
online casino operations formerly operated by the Group, in return for a share
of net revenue.
The unaudited results for the six months ended 30 June 2003 are attached.
Turnover of #59,000 for the period comprised the share of net revenue derived
from the agreement with Golden Palace Limited, and the net profit for the period
amounted to #10,000. No dividend is proposed in respect of the period.
The net loss for the period ended 30 June 2002 is not comparable, as this
included revenue from the online trading operations, as well as non recurring
costs in connection with the run down of the operations.
Damian Aspinall
Chairman
10 September 2003
Interim Statement
Profit and loss account for the six months ended 30 June 2003
6 months 6 months
Ended ended Year ended
30 June 30 June 31 December
2003 2002 2002
Unaudited Unaudited Audited
#'000 #'000 #'000
Turnover
Revenue from Gaming operations 59 517 559
Cost of Sales - (376) (346)
------------ ----------- ----------
Gross Profit 59 141 213
Administrative and operating
Expenses (71) (1,080) (1,240)
Exceptional administrative and
operating expenses - (444) (456)
------------ ----------- ----------
Operating loss (12) (1,383) (1,483)
Interest 22 25 39
------------ ----------- ----------
Profit/(Loss) on ordinary activities before
Taxation 10 (1,358) (1,444)
Tax on loss on ordinary activities - - -
------------ ----------- ----------
Retained profit/(loss) for the period 10 (1,358) (1,444)
======= ======= ======
Earnings/(Loss) per share - basic and fully
diluted 0.00p (0.46)p (0.49)p
======= ======= ======
Consolidated Balance Sheet
As at 30 June 2003
30 June 31 December
2003 2002
Unaudited Audited
#'000 #'000
Current assets
Debtors 104 111
Cash at bank 1,157 1,259
---------- ---------
1,261 1,370
---------- ---------
Creditors:
Amounts falling due within one year (471) (590)
---------- ---------
Net current assets 790 780
---------- ---------
Total assets less current liabilities 790 780
====== =====
Capital and reserves
Called up share capital 43,827 43,827
Capital redemption reserve 670 670
Other reserves (391) (391)
Profit and loss account (43,316) (43,326)
---------- ---------
Equity shareholders' funds 790 780
====== ======
Cash Flow Statement
As at 30 June 2003
6 months 6 months ended 30 Year ended 31
June 2002 December 2002
ended 30 June
2003
#'000 #'000 #'000
Unaudited Unaudited Audited
#'000 #'000 #'000
Net cash outflow from operating
activities (112) (1,387) (1,201)
------------- ------------- -------------
Returns on investments and
servicing of finance
Interest received 23 25 61
------------- ------------- -------------
Taxation paid - - -
Investing activities
Sale of tangible fixed assets - 12
------------- ------------- -------------
Net cash inflow from investing
activities - 12 -
------------- ------------- -------------
Decrease in cash and cash
equivalents (89) (1,350) (1,140)
======== ======== ========
Notes:
1. No dividend is proposed to be paid in respect of the period.
2. The results and summary balance sheet incorporate the unaudited
results of Aspinalls Online plc and all its subsidiaries made up to 30 June 2003
and have been prepared on the basis of accounting policies stated in the audited
accounts for the year ended 31 December 2002.
3. Turnover
Turnover comprises the share of net revenue derived from the
agreement with Golden Palace Limited for June 2003. Turnover in respect of prior
periods including revenue from online trading operations is not comparable.
4. Basic earnings per share is based on the profit after tax for the
period of #10,000 (30 June 2002: loss of #1,358,000, 31 December 2002: loss of
#1,444,000) divided by the weighted average of 292,179,775 (30 June and 31
December 2002: 292,179,775) ordinary shares in issue during the period.
5. Reconciliation of operating loss to net cash outflow from operating
activities:
6 months ended 6 months ended Year ended 31
December 2002
30 June 2003 30 June 2002
#'000 #'000 #'000
Operating loss (12) (1,383) (1,483)
Depreciation - 15 79
Decrease in debtors 6 430 807
Decrease in creditors (106) (449) (604)
------------ ------------ ------------
(112) (1,387) (1,201)
======= ======= =======
6. The results for the year ended 31 December 2002 have been extracted
from the statutory accounts of the Group for that year which have been filed
with the Registrar of Companies. The auditor's report on these accounts was
unqualified and did not contain any statement under Section 237 of the Companies
Act 1985.
7. The unaudited profit and loss account for each of the six month
periods and the unaudited balance sheet as at 30 June 2003 do not amount to full
accounts within the meaning of Section 240 of the Companies Act 1985 and have
not been delivered to the Registrar of Companies.
8. Further copies of this Interim Statement may be obtained from the
Company's registered office at 64 Sloane Street, London SW1X 9SH.
This information is provided by RNS
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