Berkeley Mineral Resources Regulatory News (BMR)

29 Dec 2006 11:25

Tecteon PLC29 December 2006 TECTEON PLC Tecteon Plc ("Tecteon" or "the Company") (AIM:TEO), Preliminary Results for the Year ended 30 June 2006 Tecteon, the software developer for the voice quality and telecommunicationsmarkets, announces its Results for the Year ended 30 June 2006. Key highlights: • Bluetooth headsets, utilising Tecteon software under licence to Qstik plc, are manufactured and sales have already started. • Tecteon participated in a national campaign for Acoustic Shock and hearing protection awareness during 2006 via publications and conference attendances. • Profit for the period: £149,420; (2005:Loss £1,353,026). Profit included net gain of £895,858 on disposal of oil and gas subsidiary Dominion Energy Plc. Masoud Alikhani, Chairman, Tecteon PLC, commented: "Qstik have marketed the Bluetooth headsets and the sales outlook for 2007 isoptimistic. Tecteon has continued its negotiations with Qstik plc and ClementClarke Communication following our initial discussions back in early 2006. Afurther announcement on this will be made during the first quarter of 2007." 29th December 2006 For further information please contact: Tecteon PLC Tel: 020 7408 1181Masoud Ahmadi, Managing Director Conduit PR Tel: 020 7429 6666Laurence Read/Christian Taylor Wilkinson Mob: 07979 955 923 EXECUTIVE DIRECTOR'S REVIEW Voice quality market I am pleased to report that following delivery of final voice quality softwarestack during the latter part of 2006, Qstik plc has manufactured the mobileBluetooth headset which is now on sale. Tecteon is in negotiation with Clement Clarke International Group, in lieu of adebt currently owed to Tecteon. Tecteon has continued negotiations with Qstik following our earlier announcementin 2006. The final conclusion of the negotiations will be announced in firstquarter of 2007. QSTIK'S first product is the QSTIK EVOQ - a revolutionary Bluetooth mobileheadset, which has undergone an extensive independent evaluation test, and hasbeen voted one of the top three products (out of 150 entrants) in the 2006 3GSMmobile innovation Awards. The product has been available for sale for the pasttwo months. Qstik expects to launch a number of new products during 2007. Tecteon has further enhanced its acoustic shock and hearing protection by addingits customised adaptive noise canceller. This was presented in Acoustic SafetyProgramme, initiated by Tecteon, which was a strong campaign for the call centreEuropean Noise Directive and acoustic safety awareness during 2006. This is anon going process, and Tecteon has continued to raise awareness via a number ofpublications as well as being a silver sponsor of the Acoustic Safety Programmein Glasgow during November 2006. This programme was also supported by theDepartment of Trade and Industry (DTI), the Institute for Occupational Safetyand Health (IOSH), the Communication Workers Union (CWU), and the Call CentreManagement Association (CCMA). Results for the year For the year ended 30 June 2006, the group turnover was £966,186 compared with£227,218 for the same period in prior year. The profit for the year amounted to£149,420 compared with a loss of £1,353,026 for the prior year. The turnover includes £130,230 (2005: £156,761) in respect of the oil and gassubsidiary which was disposed of by February 2006. The results include a profitof £895,858 on the disposal of the Company's interest in the subsidiary. M A Alikhani 29 December 2006Executive Director TECTEON PLCGROUP PROFIT AND LOSS ACCOUNTfor the year ended 30 June 2006 2006 2005 £ £TURNOVER - continuing operations 835,956 227,218 - disposals 130,230 - -------- -------- 966,186 227,218Depreciation and amortisation - ordinary (13,189) (99,021) Other cost of sales (168,106) (154,968) GROSS PROFIT (LOSS) 784,891 (26,771) Administrative expenses -Continuing operations (1,352,952) -Administrative expenses -Discontinued operations (148,651) (1,267,866) OPERATING LOSS (716,712) (1,294,637)----------------------------- -------- --------Continuing operations (539,723) (1,294,637)Disposals (176,989) ------------------------------ -------- -------- Interest receivable and similarincome 5,733 243 Interest payable and similar charges (29,740) (81,611) -------- --------LOSS ON ORDINARY ACTIVITIES (740,719) (1,376,005)Profit on sale of subsidiary 895,858 -PROFIT ON ORDINARY ACTIVITIES BEFORETAXATION 155,139 (1,376,005)Tax on profit on ordinary activities - -PROFIT ON ORDINARY ACTIVITIES AFTERTAXATION -------- -------- 155,139 (1,376,005)Equity minority interest 6,454 22,979Share of loss of Associate (12,173) - -------- --------PROFIT FOR THE FINANCIAL YEAR 149,420 (1,353,026) -------- -------- Profit (Loss) per - Basic 0.07p (0.75)pordinary share - Diluted 0.05p (0.75)p -------- -------- Oil and gas activities were disposed ofduring the year. Voice quality softwaredevelopment and marketing activity iscontinuing. STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES 2006 2005for the year ended 30 June 2006 £ £ Profit for the financial year before minorityinterest 155,139 (1,376,005)Exchange differences on translation into sterlingofnet assets of subsidiary undertaking - 895 -------- --------Total gains and losses recognised in thefinancial year 155,139 (1,375,110) -------- --------TECTEON PLCGROUP BALANCE SHEETas at 30 June 2006 2006 2005 £ £FIXED ASSETSIntangible assets 2,502,670 2,602,746Tangible fixed assets 83,799 500,612Investment - Trade - 50,000 -------- -------- 2,586,469 3,153,358 -------- --------CURRENT ASSETS Debtors 679,689 255,962 Cash at bank and in hand 320,056 113,361 -------- -------- 999,745 369,323 CREDITORS: amounts falling within one year (535,493) (1,725,627) -------- -------- NET CURRENT ASSETS/(LIABILITIES) 464,252 (1,356,304) -------- -------- TOTAL ASSETS LESS CURRENT LIABILITIES 3,050,721 1,797,054 ======== ======== CAPITAL AND RESERVES Called up share capital 9,709,771 9,385,737 Share premium account 2,705,939 2,057,872 Merger reserve 1,824,000 1,824,000 Exchange reserve - (135,685) Profit and loss account (11,188,989) (11,334,870) -------- -------- SHAREHOLDERS' FUNDS 3,050,721 1,797,054 ======== ======== Equity minority interest - 22,605 Non-equity shareholders' funds 195,799 195,799 Equity shareholders' funds 2,854,922 1,578,650 -------- -------- 3,050,721 1,797,054 ======== ======== TECTEON PLC GROUP CASH FLOW STATEMENTfor the year ended 30 June 2006 2006 2005 £ £ NET CASH (OUTFLOW) INFLOW FROM OPERATINGACTIVITIES (1,828,758) 82,606 -------- -------- RETURNS ON INVESTMENTS AND SERVICING OF FINANCEInterest received 5,733 243Interest paid (29,740) (81,611) -------- -------- NET CASH (OUTFLOW) FROM RETURNS (24,007) (81,368)ON INVESTMENTS AND SERVICING OF FINANCE CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT Purchase of intangible fixed assets (509,972) (752,249)Purchase of tangible fixed assets (64,208) (27,007)Purchase of trade investment - (50,000) -------- -------- NET CASH OUTFLOW FOR EXPENDITURE (574,180) (829,256) -------- --------AND FINANCIAL INVESTMENTS CASH OUTFLOW BEFORE FINANCING (2,426,945) (828,018) -------- -------- FINANCINGIssue of ordinary shares and share premium 972,101 911,436Sale of investment in subsidiary 1,661,539 - -------- -------- NET CASH INFLOW FROM FINANCING 2,633,640 911,436 -------- -------- INCREASE IN CASH 206,695 83,418 ======== ======== RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT £ £ INCREASE IN CASH 206,695 83,418 -------- -------- Movement in net debt during the year 206,695 83,418 Funds at 1 July 2005 113,361 29,943 -------- -------- NET FUNDS AT 30 JUNE 2006 320,056 113,361 ======== ======== Notes to the Preliminary Statement: 1. The financial information set out above does not constitute the Group'sstatutory accounts for the years ended 30 June 2006 or 30 June 2005 but isderived from these accounts. Statutory accounts for 2005 have been delivered tothe Registrar of Companies in England and Wales, and those for 2006 will bedelivered following the Company's annual general meeting. The auditors havereported on the 2005 accounts; their report was unqualified and did not containstatements under section 237 (2) or (3) of the Companies Act 1985. 2. The figures included in this preliminary announcement have been prepared onthe basis of the accounting policies set out in the 30 June 2005 financialstatements. 3. PROFIT PER ORDINARY SHAREThe profit per share of 0.07 pence (2005: loss 0.75 pence) has been calculatedon the basis of the profit of £149,420 (2005: loss £1,353,026) and on209,282,041 (2005: 180,209,207) ordinary shares, being the weighted averagenumber of ordinary shares in issue during the year ended 30 June 2006. 4. Copies of the published accounts of the Company will be sent to allshareholders and are available during normal business hours from the officesof Seymour Pierce Limited at Bucklersbury House, 3 Queen Victoria Street,London EC4N 8EL. This information is provided by RNS The company news service from the London Stock Exchange