PXOG.L Regulatory News (PXOG)

30 Oct 2006 09:49

Premier Management Holdings PLC30 October 2006 PREMIER MANAGEMENT HOLDINGS PLC Interim results for the six months ended 31 July 2006 Premier Management Holdings plc (the "Company"), the AIM-listed football agencypresents interim results for the six months ended 31 July 2006. Key points • Operating profit of £25,613 (2005: £103,000 loss) on turnover of£64,000 (2005: £8,000). • Positive outlook for trading for the rest of the year • Opportunities to increase the size and range of services of theCompany still being pursued Barry Gold, Chairman, said today: "We continue to look at opportunities to increase the size and range of servicesof the Company and we remain positive over the prospects for the remainingbusiness and the chance of adding to it." For further enquiries contact: Barry Gold (Chairman - Premier Management Holdings plc) - Tel: 07768 948928 Richard Evans (Nominated Adviser - Brewin Dolphin Securities Ltd) - Tel: 0845270 8602 Chairman's Statement I am pleased to report an operating and pre-tax profit for the six month periodto 31st July 2006 on an increased turnover, over the same period of last year.Operating profit was £25,613 (2005: £103,000 loss) on a turnover of £64,000(2005: £8,000). We expect to do some business not only in the January transfer window, but alsoin our role as the Manager's Manager in the period up to the end of the calendaryear. We continue to look at opportunities to increase the size and range ofservices of the Company and we remain positive over the prospects for theremaining business and the chance of adding to it. I am once again very grateful to our Finance Director, Gerry Desler, whocontinues to work long hours for the Company, many of which are unpaid, and toour advisors, who have been supportive and helpful once again. Barry Gold Chairman 30 October 2006 Unaudited Profit and Loss Account For the six months ended 31 July 2006 Six months to Six months to Year ended 31 July 31 July 31 January 2006 2005 2006 Unaudited Unaudited Audited £'000 £'000 £'000Turnover 64 8 92Cost of sales (23) (5) (27)Gross profit 41 3 65Other administration expenses (15) (106) (92)Operating profit (loss) 26 (103) (27)Interest receivable and similar income - 1 1Interest payable and similar charges (11) (1)Profit/(loss on ordinary activities before taxation 15 (103) (28)Taxation - - -Retained profit/(loss) for the period 15 (103) (28) (Loss)/earnings per share Pence Pence PenceBasic (loss)/earnings per ordinary share 0.03 (0.16) (0.04) All amounts are derived from continuing operations and the total recognisedgains or losses for the period is the same as the retained profit/(loss) for theperiod Unaudited Consolidated Balance Sheet As at 31 July 2006 As at As at As at 31 July 31 July 31 January 2006 2005 2006 Unaudited Unaudited Audited £'000 £'000 £'000Fixed assetsTangible assets - 1 - - 1 -Current assetsDebtors 285 182 249Cash at bank 14 132 15 299 314 264Creditors: amounts falling due within one year (552) (780) (423)Net current (liabilities)/assets (253) (466) (159) Total assets less current liabilities (253) (465) (159) Creditors: amounts falling due after more than oneyear (1,622) (1,797) (1,732)Total assets less liabilities (1,875) (2,262) (1,891) Capital and reservesShare capital 657 657 657Share premium 2,855 2,855 2,855Retained losses (5,426) (5,813) (5,442)Own shares held (4) (4) (4)Capital redemption reserve 43 43 43Equity shareholders' deficit (1,875) (2,262) (1,891) Unaudited Consolidated Cash Flow statement For the six months ended 31 July 2006 Six months to Six months to Year ended 31 July 31 July 31 January 2006 2005 2006 Unaudited Unaudited Audited £'000 £'000 £'000 Net cash movement on operating activities (1) (9) (18) Return on investmentsInterest received - 1 -Interest paid - (1) (1) - - (1)Capital expenditureReceipts on disposal of tangibles - - -Payments to acquire tangible assets - - - - - -Acquisitions and disposalsPayment to acquire subsidiary undertaking - - - Net cash movement before management of liquidresources and financing (1) (9) (19) FinancingIssue of ordinary shares - - -Capital element of hire purchase contracts - - -Payment for other loans - - (106)Decrease in cash in the period (1) (9) (125) Notes The results for the six months ended 31 July 2006 are unaudited and have notbeen reviewed by the auditors. They have been prepared on accounting bases andpolicies that are consistent with those used in the preparation of the auditedfinancial statements of the company for the year ended 31 January 2006. The financial statements contained in this report do not constitute statutoryaccounts within the meaning of Section 240 of the Companies Act 1985. Theresults for the year ended 31 January 2006 were reported on by the Auditors andreceived an unqualified audit report. Full accounts for the year ended 31January 2006 have been delivered to the Registrar of Companies. The interim statement will not be posted to shareholders. Copies of the interimstatement can be obtained from the company by writing to the Company Secretaryat 140B, High Street, Ongar, Essex, CM5 9JH. ENDS This information is provided by RNS The company news service from the London Stock Exchange