Getech Grp Regulatory News (GTC)

31 Mar 2008 07:00

GETECH Group plc31 March 2008 GETECH GROUP PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 JANUARY 2008 Corporate statement Founded in 1986, GETECH Group plc is a leading geoscience service companyproviding gravity and magnetic data and petroleum systems interpretationservices to the oil and mining exploration industries. By making use of ourdata products and services early in their programmes, exploration companies canbe more cost effective and focused in their decision making. HIGHLIGHTS • Turnover for six months: £2,235,000 (six months ended 31 January 2007: £826,000). • Profit before tax: £603,000 (six months ended 31 January 2007: loss £21,000). • Interim dividend of 0.6p per share (2007: interim 0.4p, final 0.8p). • Further licence of Arctic Shelf aeromagnetic data at a price close to £900,000. • Board strengthened by the appointment of R Wolfson as CEO and P Markwick as Geological Director. For further information, please contact: GETECH Group plc Derek Fairhead, Executive Chairman 0113 322 2200Raymond Wolfson, Chief Executive 0113 322 2200 WH Ireland Limited Richard Lindley 0113 394 6628 CHAIRMAN'S STATEMENT I report the interim accounts of GETECH Group plc and its subsidiary company(collectively "GETECH"), the oil services business specialising in the provisionof data, studies and services to the oil and mining exploration sectors, for thesix month period to 31 January 2008. Results GETECH is pleased to report a group profit before tax of £603,630 (six monthsended 31 January 2007: loss of £21,214) after interest receivable of £32,267(six months ended 31 January 2007: £91,940) on turnover of £2,235,275 (sixmonths ended 31 January 2007: £825,811). The post-tax profit was £413,897 (sixmonths ended 31 January 2007: profit of £23,786). The accounts have been prepared under IFRS, and I am pleased to report that nosignificant adjustments to the results were required. Dividend Your Board remains confident for the future and recommends an increased interimdividend of 0.6p per share, costing £166,153, on 8 May 2008 to shareholders onthe register at 11 April 2008. Business review In line with our expectations, GETECH obtained a further order (total of twoorders to date) for the Russian Arctic Shelf Aeromagnetic data and this wasdelivered and invoiced in December at a price close to £900,000. Three major petroleum systems ("PSEG") studies will be completed in the currentfinancial year. Advance marketing of these and other new studies has resulted insubstantial pre-commitment orders from major oil companies, and we are confidentthat this demonstrates the high regard in which our first set of completedstudies was held. Overall, demand for the GETECH studies, services and data remains strong but wecontinue to be dependent on the combination of a stream of modest sized ordersand the occasional very substantial order. Outlook Our reputation in the field of gravity and magnetic data and interpretationstudies continues to be excellent. The substantial level of pre-commitments toour new studies gives us confidence that we have also established ourcredibility in the field of petroleum systems studies. We regard this as thefirst major step in broadening our presence in the market. We now believe we are in a strong position to take forward various strands ofour strategy for medium term growth. We continue to nurture our internationalrelationships, particularly in Russia and China, and anticipate furtheropportunities crystallising in the near future. We are enhancing our portfolioof petroleum systems studies and we are actively examining various forms ofacquisition. Whilst we are very pleased with the result to January 2008, the outcome for thefull financial year remains dependent on a number of significant contractscoming to fruition. The background of the strong oil price, the imperative to discover new reservesand the pattern of purchases of GETECH's new and existing datasets and studies,leads GETECH to view the coming months and years with confidence. Peter StephensChairman28 March 2008 CONDENSED CONSOLIDATED INCOME STATEMENTfor the six months ended 31 January 2008 Six months Six months Year ended ended ended 31 January 31 January 31 July 2008 2007 2007 Unaudited Unaudited Unaudited £'000 £'000 £'000Revenue 2,235 826 3,561Cost of sales (578) (124) (971)Gross profit 1,657 702 2,590Administrative costs (1,086) (815) (1,944 )Operating profit/(loss) 571 (113) 646Finance income 32 92 159Profit/(loss) before tax 603 (21) 805Income tax expense (189) 45 (183)Profit for the period attributableto equity holders of the parent 414 24 622Earnings per share: p p pBasic earnings per share 1.50 0.09 2.25Diluted earnings per share 1.38 0.09 2.13 CONDENSED CONSOLIDATED STATEMENT OF TOTAL RECOGNISED INCOME AND EXPENSEfor the six months ended 31 January 2008 Six months Six months Year ended ended ended 31 January 31 January 31 July 2008 2007 2007 Unaudited Unaudited Unaudited £'000 £'000 £'000Currency translation differences 1 - (22)Net expense recognised directly in equity 1 - (22)Profit for the period 414 24 622Total recognised income and expense for theperiod attributable to equity holders of theparent 415 24 600 All activities relate to continuing operations. CONDENSED CONSOLIDATED INTERIM BALANCE SHEETas at 31 January 2008 31 January 31 January 31 July 2008 2007 2007 Unaudited Unaudited Unaudited £'000 £'000 £'000AssetsNon-current assetsProperty, plant and equipment 2,805 46 2,800Goodwill 1 1 1Deferred tax assets - 60 60 2,806 107 2,861Current assetsInventories 344 300 193Trade and other receivables 1,852 1,930 2,038Other current assets 22 24 22Cash and cash equivalents 1,589 3,806 921 3,807 6,060 3,174Total assets 6,613 6,167 6,035LiabilitiesCurrent liabilitiesTrade and other payables 1,906 2,001 1,422Current tax payable 125 290 250 2,031 2,291 1,672Total liabilities 2,031 2,291 1,672Net assets 4,582 3,876 4,363EquityEquity attributable to shareholders of theparentShare capital 69 69 69Share premium account 2,461 2,461 2,461Share option reserve 105 58 79Currency translation reserve (21) - (22)Retained earnings 1,968 1,288 1,776Total equity 4,582 3,876 4,363 CONDENSED CONSOLIDATED INTERIM BALANCE SHEETfor the six months ended 31 January 2008 Six months Six months Year ended ended ended 31 January 31 January 31 July 2008 2007 2007 Unaudited Unaudited Unaudited £'000 £'000 £'000Cash flows from operating activitiesOperating profit/(loss) 571 (113) 646Adjustments for:Cost of share option schemes 26 20 41Depreciation charges 36 11 33Exchange adjustments 1 - (20)(Increase) in inventories (151) (133) (26)Decrease/(increase) in debtors 186 (1,122) (1,230)Decrease in investments - - 2Increase in creditors 484 919 340Cash generated from/(used in) operations 1,153 (418) (214)Income taxes paid (254) - (268)Net cash generated from/(used in)operating activities 899 (418) (482)Cash flows from investing activitiesPurchase of property, plant and equipment (41) (20) (2,797)Interest received 32 92 159Net cash (used in)/generated frominvesting activities (9) 72 (2,638)Cash flows from financing activitiesDividends paid (222) (166) (277)Net cash (used in)/generated fromfinancing activities (222) (166) (277)Net increase/(decrease) in cash and cashequivalents 668 (512) (3,397)Cash and cash equivalents at beginning ofperiod 921 4,318 4,318Cash and cash equivalents at endof period 1,589 3,806 921 NOTES TO THE INTERIM RESULTSFOR THE SIX MONTHS ENDED 31 JANUARY 2008 1 Nature of operations The principal activity of GETECH Group plc and its subsidiary companyGeophysical Exploration Technology Inc (collectively "GETECH" or "the Group") isthe provision of exploration data and services, including gravity and magneticdata and petroleum systems evaluations, to the oil and mineral industry. 2 General information GETECH Group plc, a limited liability company, is the Group's ultimate parentcompany. It is incorporated in England and Wales and domiciled in England (CRN:2891368). The address of its registered office is Convention House, St. Mary'sStreet, Leeds LS9 7DP. Its principal place of business is Kitson House, ElmeteHall, Elmete Lane, Leeds LS8 2LJ. GETECH Group plc shares are admitted totrading on the London Stock Exchange's AIM. The financial information set out in this interim report does not constitutestatutory financial statements as defined in S240 of the Companies Act 1985. Theinterim financial statements, which have been neither audited nor reviewed bythe Group's auditors, have been approved by the Board. The Group's statutory financial statements for the year ended 31 July 2007,prepared under UK GAAP, have been filed with the Registrar of Companies. Theauditor's report on those financial statements was unqualified and did notcontain a statement under S237(2) of the Companies Act 1985. 3 Basis of preparation These condensed consolidated interim financial statements are for the six monthsended 31 January 2008. They have been prepared in accordance with therequirements of IFRS 1 'First-time Adoption of International Financial ReportingStandards' relevant to interim reports, because they are part of the periodcovered by the Group's first IFRS financial statements for the year ended 31July 2008. They do not include all of the information required for full annualfinancial statements and should be read in conjunction with the consolidatedfinancial statements of the Group for the year ended 31 July 2007. These condensed consolidated interim financial statements have been preparedunder the historical cost convention. These condensed consolidated interim financial statements (the interim financialstatements) have been prepared in accordance with the accounting policies setout below. They are based on the recognition and measurement principles of IFRSin issue as adopted by the European Union (EU) and which are, or are expected tobe, effective at 31 July 2008, the first annual reporting date at which theGroup is required to use IFRS accounting standards as adopted by the EU. GETECH's consolidated financial statements were prepared in accordance withUnited Kingdom Accounting Standards (United Kingdom Generally AcceptedAccounting Practice) until 31 July 2007. The date of transition to IFRS was 1August 2006 and the comparative figures in respect of 2007 have been restated toreflect changes in accounting policies as a result of adoption of IFRS. Thedisclosures required by IFRS 1 concerning the transition from UK GAAP to IFRSare given in the reconciliation schedules and are presented and explained innote 6. The accounting policies have been applied consistently throughout the Group forthe purpose of preparation of these condensed consolidated interim financialstatements. 4 Summary of accounting policies 4.1 Overall considerations The Group has taken advantage of certain exemptions available under IFRS 1'First-time Adoption of International Financial Reporting Standards'. Theexemptions are explained in Note 6.1. The accounting policies that have been applied in the transitional balance sheetat 1 August 2006 have also been applied throughout all periods presented inthese financial statements. 4.2 Basis of consolidation The Group financial statements consolidate those of the Company and of itssubsidiary undertaking drawn up to 31 January 2008. A subsidiary is an entitycontrolled by the Group. Control is achieved where the Group has the power togovern the financial and operating policies of an entity so as to obtainbenefits from its activities. All intra-group transactions, balances, income and expenses are eliminated onconsolidation. Unrealised losses are also eliminated unless the transactionprovides evidence of an impairment of the asset transferred. Amounts reported inthe financial statements of subsidiaries have been adjusted where necessary toensure consistency with the accounting policies adopted by the Group. 4.3 Revenue Revenue is measured by reference to the fair value of consideration received orreceivable by the Group for goods supplied and services provided, excluding VATand comparable overseas taxes. For sales of data and completed projects revenue is recognised on dispatch. 4.4 Long-term contracts and inventories In respect of long-term contracts and contracts for on-going services, when theoutcome of the contract can be estimated reliably, revenue is recognisedaccording to the value of work done in the period, including estimates ofamounts not invoiced. Revenue in respect of long-term contracts and contractsfor on-going services is calculated on the basis of time spent on the projectand estimated work to completion. The outcome of a contract is deemed capable ofbeing estimated reliably when the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the economic benefit associated with the transaction will flow to the entity; • the stage of completion of the transaction at the balance sheet date can be measured reliably and is estimated by reference to estimated time-cost to completion; and • the costs incurred for the transaction and the costs to completion can be measured reliably. Costs associated with long-term contracts are included in inventories to theextent that they cannot be matched with contract work accounted for as revenue.Long-term contract balances included in work in progress are stated at costafter provision has been made for any foreseeable losses and the deduction ofapplicable payments on account. Full provision is made for losses on all contracts in the year in which the lossis first foreseen. In assessing the costs associated with projects that are long-term in nature, tothe extent these costs cannot be matched with signed agreements, the followingassumptions and estimates are made: • at the commencement of each project an assumption is made concerning the likely revenue from potential sales of that project. Regular impairment reviews reconsider whether that revenue remains achievable; and • costs are carried forward only to the extent that they do not exceed 90% of expected revenue relevant to the stage of completion. 4.5 Foreign currency translation The Group's financial statements are presented in Sterling (£) which is also thefunctional currency of the parent company. Where supplies are obtained or sales made on terms denominated in foreigncurrency, such transactions are translated into the functional currency usingthe exchange rates prevailing at the dates of the transactions. Any liability orasset is reflected in the financial information at the rate of exchange rulingat the balance sheet date or at the amount to be paid where currency purchasearrangements have been made by the balance sheet date. Disparities between theamount reflected in the financial information and the amount of Sterlingrequired to settle the liability are reflected in the reported results of thesubsequent period. The assets and liabilities of the Group's foreign operations are translatedusing exchange rates prevailing at the balance sheet date. Income and expenseitems are translated at the average exchange rates for the period. Exchangedifferences arising, if any, are classified as equity and recognised in theGroup's foreign currency translation reserve. Such exchange differences arerecognised in the profit or loss of the period in which the foreign operation isdisposed of. The treatment of translation differences arising on consolidation ofsubsidiaries following the transition to reporting under IFRS is set out in Note6.1. 4.6 Employee benefits Pension schemes The Group operates defined contribution pension schemes. The assets of theschemes are held separately from the Group in an independently administeredfund. The pension charge represents contributions payable by the Group to theschemes. Share options Where share options are granted to employees a charge is made to the Groupincome statement and a reserve created to record the fair value of the awards inaccordance with FRS 20 'Share-based Payment'. A charge is recognised in theincome statement in relation to share options granted based on the fair value(the economic value) of the grant, measured at the grant date. The charge isspread over the vesting period. The valuation methodology takes into accountfuture share price volatility, future risk-free interest rate, an estimate ofthe earnings per share and exercise behaviour and is based on the Black-Scholesmethod. 4.7 Research Research expenditure is charged to the profit of the period in which it isincurred. 4.8 Lease contracts Operating leases exist where the lessee of a leased asset does not substantiallybear all the risks and rewards relating to the ownership of the asset. Economicownership of the leased asset is not transferred to the lessee. Payments madeunder operating leases are charged to the income statement on a straight linebasis over the lease term. 4.9 Goodwill Goodwill representing the excess of the cost of acquisition over the fair valueof the Group's share of the identifiable net assets acquired is capitalised andreviewed annually for impairment. Goodwill is carried at cost less accumulatedimpairment losses. Negative goodwill is recognised immediately after acquisitionin the income statement. Goodwill written off to reserves prior to the date of transition to IFRS remainsin reserves. There is no reinstatement of goodwill that was amortised prior totransition to IFRS. 4.10 Property, plant and equipment Property, plant and equipment are carried at acquisition cost, net ofdepreciation and any provision for impairment. Depreciation is calculated to write down the cost less estimated residual valueof all property, plant and equipment by equal instalments over their estimateduseful economic lives: Freehold property - 50 yearsPlant and equipment - 3 years and 4 years Material residual value and useful life estimates are updated as required, butat least annually, whether or not the asset is revalued. Freehold land is carried at acquisition cost. As no finite useful life for landcan be determined, related carrying amounts are not depreciated. 4.11 Accounting for financial assets Financial assets are divided into the following categories: • loans and receivables; and • held to maturity investments. Financial assets are assigned to the different categories by management oninitial recognition, depending on the purpose for which they were acquired. Thedesignation of financial assets is re-evaluated at every reporting date at whicha choice of classification or accounting treatment is available. All financial assets are recognised when the Group becomes a party to thecontractual provisions of the instrument. Loans and receivables are non-derivative financial assets with fixed ordeterminable payments that are not quoted in an active market. Trade and otherreceivables are classified as loans and receivables. Loans and receivables aremeasured subsequent to initial recognition at amortised cost using the effectiveinterest rate method, less provision for impairment. Any change in their valuethrough impairment or reversal of impairment is recognised in the incomestatement. Provision against trade receivables is made when there is objective evidencethat the Group will not be able to collect all amounts due according to theoriginal terms of those receivables. The amount of the write-down is determinedas the difference between the asset's carrying value and the present value ofestimated future cash flows. Held to maturity investments are non-derivative financial assets with fixed ordeterminable payments and a fixed date of maturity where it is the intention ofthe Directors to hold them until maturity. Held to maturity investments aremeasured subsequent to initial recognition at amortised cost using the effectiveinterest method. If there is objective evidence that the investment has beenimpaired, the financial asset is measured at the present value of estimated cashflows. Any changes to the carrying value of the investment are recognised in theincome statement. 4.12 Income taxes Current tax is the tax currently payable based on the taxable profit for theyear. Deferred income taxes are calculated using the liability method on temporarydifferences. Deferred tax is generally provided on the difference between thecarrying amounts of assets and liabilities and their tax bases. However,deferred tax is not provided on the initial recognition of goodwill, nor on theinitial recognition of an asset or liability unless the related transaction is abusiness combination or affects tax or accounting profit. Deferred tax ontemporary differences associated with shares in subsidiaries is not provided ifreversal of these temporary differences can be controlled by the Group and it isprobable that reversal will not occur in the foreseeable future. In addition,tax losses available to be carried forward as well as other income tax creditsare assessed for recognition as deferred tax assets. Deferred tax assets and liabilities are calculated in full, with no discounting.Deferred tax assets are recognised to the extent that it is probable that theunderlying deductible temporary timing differences could be offset againstfuture taxable income. Current and deferred tax assets and liabilities arecalculated at tax rates that are expected to apply to their respective period ofrealisation, provided they are enacted or substantively enacted at the balancesheet date. Changes in deferred tax assets or liabilities are recognised as a component oftax expense in the income statement, except where they relate to items that arecharged or credited directly to equity (such as the revaluation of land) inwhich case the related deferred tax is also charged or credited directly toequity. 4.13 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and demand deposits, togetherwith other short-term, highly liquid investments that are readily convertibleinto known amounts of cash and which are subject to an insignificant risk ofchanges in value. 4.14 Equity Equity comprises the following: • "Share capital" represents the nominal value of equity shares; • "Share premium" represents the excess over nominal value of the fair value of consideration received for equity shares, net of expenses of the share issue; • "Capital redemption reserve" represents the nominal value of equity shares redeemed; • "Share option reserve" represents the fair value of share options in accordance with IFRS 2 'Share-based Payment'; • "Currency translation reserve" represents the value of exchange differences in translating the assets and liabilities of the foreign subsidiary; and • "Retained earnings" represents retained profits. 4.15 Dividends Dividend distributions payable to equity shareholders are included in "othershort-term financial liabilities" when dividends are approved in generalmeetings prior to the balance sheet date. 4.16 Financial liabilities Financial liabilities are obligations to pay cash or other financial assets andare recognised when the Group becomes a party to the contractual agreements ofthe instrument. The Group's financial liabilities comprise trade and other payables which aremeasured at amortised cost using the effective interest rate method. A financial liability is derecognised only when the obligation is extinguished,that is, when the obligation is discharged, cancelled or expires. 5 Capital management policies and procedures The Group's capital management objectives are: • to ensure the Group's ability to continue as a going concern; and • to provide an adequate return to shareholders. These objectives are maintained by pricing products and services commensuratelywith the level of risk. The Group's goal in capital management is to maintain capital with no borrowing.There are no externally imposed capital requirements. 6 Effect of First-time Adoption of IFRS 6.1 Overall considerations IFRS 1 'First-time Adoption of International Financial Reporting Standards' setsout the procedures to be followed when IFRS is adopted for the first time. TheGroup is required to determine its IFRS accounting policies and apply theseretrospectively to determine its transitional balance sheet under IFRS. TheStandard allows a number of exemptions to this general principle to assistcompanies with their transition to reporting under IFRS. The Group has chosen the following options: • business combinations: business combinations prior to the transitional balance sheet date, 1 August 2006, have not been restated; and • translation differences arising on consolidation of subsidiaries: IAS 21 requires such differences to be held in a separate reserve, rather than included in the profit and loss reserve as was the case under UK GAAP. This reserve has been deemed to be £nil on 1 August 2006. IFRS 7 'Financial Instruments: Disclosures', IAS 12 'Income Taxes' and IAS 21 'The Effects of Changes in Foreign Exchange Rates' have been appliedretrospectively i.e. with amendments to the 2007 accounts and theirpresentation. The 2007 comparatives contained in these financial statementstherefore differ from those published in the financial statements for the yearended 31 July 2007 and the six months ended 31 January 2007. IAS 39 'Financial Instruments: Recognition and Measurement' has been appliedretrospectively but there is no material effect on the comparative figures forthe year ended 31 July 2007 or the six months ended 31 January 2007 and thesehave not been restated. Other Standards or Interpretations relevant for IFRS financial statements didnot become effective during the current year. Significant effects on current, prior and future periods arising from thefirst-time application of the Standards listed above in respect of presentation,recognition and measurement of the accounts are described in the followingnotes. An overview of Standards and Interpretations that will become mandatoryfor the Group in future periods is given in note 6.5. 6.2 Amendment of IAS 1 'Presentation of Financial Statements' In accordance with the amendment of IAS 1 'Presentation of FinancialStatements', GETECH now reports on its capital management objectives, policiesand procedures in each annual financial report. The new disclosures that becomenecessary due to this change in IAS 1 are set out in note 5. 6.3 Adoption of IAS 12 'Income tax' In accordance with IAS 12 'Income Tax' the Group financial statements recognisea deferred tax asset in respect of the losses of the US subsidiary company tothe extent they constitute a temporary timing difference. 6.4 Adoption of IAS 21 'The Effects of Changes in Foreign Exchange Rates'. In accordance with IAS 21 'The Effects of Changes in Foreign Exchange Rates' thefinancial statements account for translation differences in respect of theassets and liabilities of the foreign subsidiary in a separate reserve withinequity. 6.5 Standards and Interpretations not yet applied by GETECH The following Standards and Interpretations, which are yet to become mandatory,have not been applied in the 2008 consolidated financial statements. Effective for reportingStandard or Interpretation periods starting on or after IFRIC 13 Customer loyalty programmes 1 July 2008 No impactIAS 23 Borrowing Costs (revised 2007) 1 January 2009 No impact 6.6 Effect on comparative figures The effect of changes on profit, on equity and on other elements of the Group'sbalance sheet at the opening balance sheet date for comparative figures, 1August 2006, 31 January 2007 and 31 July 2007 are as follows: Six months Year ended ended 31 January 31 July 2007 2007 £'000 £'000(Loss)/profit after taxation under UK GAAP (36) 562IAS 12 60 60Profit after taxation under IFRS 24 622 At 31 January At 31 July At 1 August 2007 2007 2006 £'000 £'000 £'000Shareholders' funds under UK GAAP 3,816 4,303 3,998IAS 12 60 60 60Shareholders' funds under IFRS 3,876 4,363 4,058Profit and loss account under UK GAAP 1,228 1,694 1,430IAS 12 60 60 60IAS 21 - 22 -Retained earnings under IFRS 1,288 1,776 1,490Deferred tax asset under UK GAAP - - -IAS 12 60 60 60Deferred tax asset under IFRS 60 60 60Currency translation reserve under UK GAAP - - -IAS 21 - (22) -Currency translation reserve under IFRS - (22) -Long-term financial assets under UK GAAP - - -IFRS 7 - - 22Long-term financial assets under IFRS - - 22 7 Taxation Taxation has been provided at the estimated effective rate of 30% for the yearas a whole (2007: 30%) for UK operations. No taxation charge has been providedfor the US subsidiary as it has unused losses available for relief againstfuture profits. Deferred taxation in the foreign subsidiary has been calculated at 40% (2007:40%). 8 Dividends Six months Six months Year ended ended ended 31 January 31 January 31 July 2008 2007 2007 Unaudited Unaudited Unaudited £'000 £'000 £'000Paid during the periodFinal at 0.8p per share (2007: 0.6p) 222 166 166Interim at 0.4p per share - - 111 222 166 277Proposed after the period end (not recognised as aliability):Final at 0.8p per share - - 222Interim at 0.6p per share (2007:0.4p) 166 111 - The proposed dividend is payable on 8 May 2008 to members on the register at 11April 2008. 9 Earnings per share Basic earnings per share is calculated on the basis of the profit for the periodafter tax, divided by the weighted average of ordinary shares in issue in theperiod of 27,692,307 (2007: 27,692,307). Diluted earnings per share is calculated on the basis of the profit for the yearafter tax, divided by the weighted average number of shares in issue plus theweighted average number of shares which would be issued if all options grantedwere exercised. The addition to the weighted average number of ordinary sharesused in the calculation of diluted earnings per share for the six months ended31 January 2008 is 2,372,346, six months ended 31 January 2007: nil, and yearended 31 July 2007: 1,472,346. 10 Interim report Copies of the interim report are being sent to shareholders and will beavailable at GETECH's principal place of business at: Kitson House, Elmete Hall,Elmete Lane, Leeds LS8 2LJ. This information is provided by RNS The company news service from the London Stock Exchange