Sign In
24 Feb 2011 07:00
On-line PLC
('On-line' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December 2010
On-line today announces unaudited interim results for the six months ended 31 December 2010.
Chairman's Statement
On-line has continued to work with its investments and has made a small operating profit of £4,000 (2009: £5,000) for the six months up to December 2010.
ADVFN PLC
ADVFN has continued to build its services across the world. It has moved forward on all fronts as you can see from its figures below:
Highlights:
Turnover up 13.5% to £4,597,000 (2009: £4,049,000)
Cash and gilts in hand of £2.283M up 29.5% (2009: £1.763M)
Loss for the Period - down 80% to £67,000 (2009: £330,000)
Operating Loss - down 53% to £75,000 (2009: £160,000)
ADVFN user numbers - up 17% to 2.1M (2009: 1.8M)
Michael Hodges
Chairman
23/02/2011
Contacts:
Michael Hodges | mikeh@advfn.com | |
Francesca De Franco, PR | francescad@advfn.com | 020 7070 0932 |
Fiona Kindness, Grant Thornton UK LLP (Nominated Adviser) | 020 7728 3414 | |
On-line PLC
Profit and Loss Accounts
for the six months ended 31 December 2010
Six months ended | Six months ended | Year ended | |
31 December 2010 | 31 December 2009 | 30 June 2010 | |
Unaudited | Unaudited | Audited | |
£'000 | £'000 | £'000 | |
Turnover | 82 | 52 | 120 |
|
|
|
|
Administrative expenses | (78) | (47) | (107) |
|
|
|
|
Operating profit | 4 | 5 | 13 |
|
|
|
|
Amount written off on investments | - | - | (3) |
|
|
|
|
Profit on ordinary activities before taxation | 4 | 5 | 10 |
|
|
|
|
Tax on profit on ordinary activities | - | - | - |
|
|
|
|
Profit on ordinary activities after taxation | 4 | 5 | 10 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic profit per ordinary share | 0.05p | 0.07p | 0.13p |
Diluted profit per ordinary share | 0.05p | 0.07p | 0.12p |
There were no recognised gains or losses other than the profit for the period.
On-line PLC
Balance Sheet
at 31 December 2010
| 31 December 2010 | 31 December 2009 | 30 June 2010 |
| Unaudited | Unaudited | Audited |
| £'000 | £'000 | £'000 |
|
|
|
|
Fixed assets |
|
|
|
Investments | 868 | 871 | 868 |
|
|
|
|
Current assets |
|
|
|
Debtors | 70 | 69 | 78 |
Cash at bank and in hand | 12 | - | 5 |
| 82 | 69 | 83 |
|
|
|
|
Creditors: amounts falling due within |
|
|
|
one year | (56) | (55) | (61) |
|
|
|
|
Net current assets | 26 | 14 | 22 |
|
|
|
|
Total assets less current liabilities | 894 | 885 | 890 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
Called up share capital | 3,242 | 3,242 | 3,242 |
Share premium account | 2,205 | 2,205 | 2,205 |
Option valuation reserve | 17 | 17 | 17 |
Profit and loss account | (4,570) | (4,579) | (4,574) |
|
|
|
|
Shareholders' funds | 894 | 885 | 890 |
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2010
| Six months ended | Six months ended | Year ended |
| 31 December 2010 | 31 December 2009 | 30 June 2010 |
| Unaudited | Unaudited | Audited |
| £'000 | £'000 | £'000 |
|
|
|
|
Net cash inflow/(outflow) from operating activities | 7 | (3) | 2 |
|
|
|
|
Increase/(decrease) in cash | 7 | (3) | 2 |
On-line PLC
Notes to the interim statementfor the six months ended 31 December 2010
1. The unaudited interim financial information is for the six month period ended 31 December 2010. The financial information does not include all the information required for full annual financial statements and should be read in conjunction with the financial statements of the company for the year ended 30 June 2010, which were prepared under the historical cost convention as modified by the revaluation of current asset investments and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The accounting policies adopted in this report are consistent with those of the annual financial statements for the year to 30 June 2010 as described in those financial statements.
The interim financial information has been prepared on the going concern basis which assumes the company will continue in existence for the foreseeable future. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. Accordingly, the directors, believe it is appropriate for the interim financial statement to be prepared on the going concern basis.
The interim financial information has not been audited nor has it been reviewed under ISRE 2410 of the Auditing Practices Board. The financial information presented does not constitute statutory accounts as defined by section 434 of the Companies Act 2006. The company statutory accounts for the year to 30 June 2010 have been filed with the Registrar of Companies. The auditors, Grant Thornton UK LLP reported on these accounts and their report was unqualified and did not contain a statement under section 498(2) or Section 498(3) of the Companies Act 2006.
2. Earnings per ordinary share
Six months ended | Six months ended | Year ended | ||
31 December 2010 | 31 December 2009 | 30 June 2010 | ||
£'000 | £'000 | £'000 | ||
Profit for the period | £'000 | 4 | 5 | 10 |
Weighted average number of shares | '000 | 7,662 | 7,662 | 7,662 |
|
|
|
|
|
Basic earnings per share | p | 0.05p | 0.07p | 0.13p |
Profit for the period | £'000 | 4 | 5 | 10 |
Weighted average number of shares | '000 | 7,662 | 7,662 | 7,662 |
Dilutive effect of options | '000 | 603 | - | 550 |
Weighted average number of shares of diluted earnings per share | 8,265 | 7,662 | 8,212 | |
|
|
| ||
Diluted earnings per share | p | 0.05p | 0.07p | 0.12p |
On-line PLC
Notes to the interim statementfor the six months ended 31 December 2010
3. Reserves
Profit and loss account | Option valuation reserve | Share premium account | |
£'000 | £'000 | £'000 | |
At 1 July 2010 | (4,574) | 17 | 2,205 |
Profit retained for the period | 4 | - | - |
|
|
| |
At 31 December 2010 | (4,570) | 17 | 2,205 |
4. Reconciliation of operating profit to net cash outflow from operating activities
Six months ended | Six months ended | Year ended | |
31 December 2010 | 31 December 2009 | 30 June 2010 | |
£'000 | £'000 | £'000 | |
Operating profit | 4 | 5 | 13 |
Decrease/(increase) in debtors | 8 | (7) | (16) |
(Decrease)/increase in creditors | (5) | (1) | 5 |
|
|
|
|
Net cash inflow/(outflow) from operating activities | 7 | (3) | 2 |
5. The directors do not recommend the payment of a dividend.
6. Copies of this statement are being posted to shareholders shortly and will be available from the company's
registered office at Suite 27, Essex Technology Centre, The Gables, Fyfield Road, Ongar, Essex,
CM5 0GA and in electronic form from the Company's website, http://www.on-line.co.uk/.
Follow the stocks
