Nature Group Regulatory News (NGR)

9 May 2005 12:01

Nature Technology Solutions Limited09 May 2005 Nature Technology Solutions Limited ("Nature Technology" or "the Group" or "the Company") Preliminary final results for the year ended 31st December 2004 The results for the Year ended 31st December 2004 reflect the emergingcapability of the Group to convert it's state of the art oil related wastewatertreatment capabilities into ongoing environmental treatment contracts andretained ownership of businesses in that sector. Although not yet delivering netearnings to shareholders, these results reflect attributable gross revenuesexceeding the £1 million forecast in September 2004, and demonstrate that thepositive results before depreciation should enable further growth to lead to aprofitable future for the Group. The Group's treatment solutions activities have a number of interestingenquiries and discussions in hand, although the most significant opportunity forinstallations in a major port location may fall largely into 2006 if awarded.Meanwhile the Group's two treatment terminal investments in Norway and Gibraltarare on target to show growth in revenues in 2005. In Norway a new NatureTechnology design of constant flow bio-reactor for our joint venture Tanangerplant has been installed and successfully commissioned in April 2005, in orderto substantially increase throughput of polluted waters from the North Seaoffshore industry in response to demand. In addition we are looking forward to the potential launch at the end of 2005 ofa new Nature Technology designed offshore rig treatment unit, in conjunctionwith appropriate market skills from partnering arrangements with offshore wasteexpertise . If successful, this would be targeting an offshore rental businessdirect to oil companies on a recurring basis in early 2006 onwards. The Company's AGM will be held in June in our corporate office in Jersey,following dispatch of our accounts later this month. R.A.Eldridge Chairman NATURE TECHNOLOGY SOLUTIONS LIMITED CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR TO 31ST DECEMBER 2004 Unaudited Unaudited Audited Year to 6 months Year to to 31/12/2004 30/06/2004 31/12/2003 £ £ TURNOVER Continuing 583,473 159,305 266,755 operations Joint ventures 529,822 248,327 288,338 --------- ---------- --------- 1,113,295 407,632 555,093 OPERATINGCOSTS Continuing (282,701) (81,073) (153,734) operations Joint ventures (223,963) (138,445) (176,115) --------- ---------- ---------OPERATINGPROFIT 606,631 188,114 225,244 Interestreceivable 1,013 109 2,962Administrativecosts (514,864) (232,130) (410,347)Bank interestand charges (5,860) (2,087) (1,772)Exceptional &restructuringcosts 0 (146,566)Depreciationand goodwillimpairmentcost (17,890) (7,589) (154,627)Depreciationand goodwillin jointventurecompanies (100,770) (13,792) (71,055) --------- ---------- ---------Loss onordinaryactivitiesbeforetaxation (31,740) (67,375) (556,161) Taxation onloss onordinaryactivities (12,400) - - --------- ---------- ---------Deficit forthe financialperiod (44,140) (67,375) (556,161) ========= ========== ========= Basic loss pershare (0.00014)p (0.00022)p (0.0021)p There are no recognised gains or losses other thanthose included above. BALANCE SHEET AT 31ST DECEMBER 2004 Unaudited Unaudited Audited As at As at As at 31/12/2004 30/06/04 31/12/03 £ £FIXED ASSETSIntangibleassets 42,297 36,729 1,901,397Tangibleassets 51,194 55,884 62,784Investments 1,520,601 1,512,832 1,489,158 --------- ---------- --------- 1,614,092 1,605,445 3,453,339 CURRENT ASSETSStock 0 14,185 14,185Debtors 240,386 165,812 199,364Balance atbank 100,498 65,918 152,847 --------- ---------- --------- 340,884 245,915 366,396 CREDITORS:AMOUNTS FALLING DUEWITHIN ONEYEAR (152,233) (71,852) (108,873) --------- ---------- ---------NET CURRENTASSETS 188,651 174,063 257,523 --------- ---------- ---------NET ASSETS 1,802,743 1,779,508 3,710,862 ========= ========== ========= CAPITAL AND RESERVESCalled upshare capital 29,959 29,959 4,758,068Share premium 1,032,554 1,032,554 1,032,554CapitalReserve 2,864,130 2,864,130 0Profit andloss account (2,123,900) (2,147,135) (2,079,760) --------- ---------- ---------Shareholdersfunds 1,802,743 1,779,508 3,710,862 ========= ========== ========= CASH FLOW STATEMENT FOR THE YEAR TO 31ST DECEMBER 2004 Unaudited Unaudited Audited Year to half year year to to 31/12/2004 30/06/04 31/12/03 £ £ £Net cash flow from operating activities: Operating loss (39,293) (65,397) (557,351)Depreciation and goodwillimpairment charges 17,890 7,589 154,627Fixed assets written off 0 0 331,219(Increase)/decrease in debtors (41,022) 33,552 64,037(Increase)/decrease in stock 14,185 0 (7,431)(Decrease)/increase in creditors 30,960 (37,021) (59,976)(Increase)/decrease ininvestments (19,043) (23,674) (57,607)Decrease in minority interests 0 0 (113,555) --------- ------------ ----------- (36,323) (84,951) (246,037) Return on investments and servicing offinance:Interest received 1,013 109 2,962Interest paid (5,860) (2,087) (1,772) Capital expenditure:Acquisition of intangible fixedassets (4,879) 0 0Acquisition of tangible fixedassets (6,300) 0 (24,364) Financing:Issuing of ordinary sharecapital 0 0 271,686 --------- ------------ -----------Decrease/Increase in cashbalances (52,349) (86,929) 2,475 ========= ============ =========== Movement in cash balances: Balance at bank 1st January 2004 152,847 152,847 150,372 Net cash (outflow)/inflow (52,349) (86,929) 2,475 --------- ------------ -----------Balance at 31st December 2004 100,498 65,918 152,847 ========= ============ =========== Notes1. Statutory AccountsThe financial information above for the year ended 31 December 2004 does notconstitute statutory accounts as defined in Section 240 of the Companies Act 1985.The comparative annual results have been extracted from the the audited accountsof the Company for the year ended 31 December 2003. 2. Calculation of loss per share 2004 2003 £ £Loss for the period attributable to shareholders 44,140 555,161Weighted Average number of equity sharesof 0.01p each in issue. 299,593,384 268,593,384Basic loss per share (£) (0.00014)p (0.0021)p 3. Dividend. The Directors are not proposing that a dividend payment bemade. This information is provided by RNS The company news service from the London Stock Exchange