PXOG.L Regulatory News (PXOG)

27 Oct 2008 07:00



For release at 07:00 on 27 October 2008

PREMIER MANAGEMENT HOLDINGS PLC

Interim Results for the six months ended 31st July 2008

Premier Management Holdings plc ("the Company") the AIM listed football agency presents interim results for the six months ended 31st July 2008.

Key Points 

• Pre-tax profit of £226 (2007 - £4,425) on turnover of £60,302 (2006 - £64,000.)

• Opportunuties to increase the size and range of services of the company still being pursued.

Barry Gold, Chairman said today:

"I am pleased to report an operating and pre-tax profit for the fifth consecutive reporting period. We have acted more for Clubs and Managers during this period rather than players and we see this type of business forming the core of our operation going forward."

For further enquiries contact:-

Barry Gold (Chairman)

Premier Management Holdings plc - Tel: 07768 948928

Richard Evans (Nominated Adviser)

Brewin Dolphin Ltd  - Tel: 0845 213 4853

Chairman's Statement

For the fifth consecutive reporting period, I am pleased to report an operating and pre-tax profit, in this case for the six month period ended 31 July 2008.

Turnover has remained stable and we completed some further business during the last month of the transfer window, which will be included in second half of our financial year.  We have acted more for Clubs and Managers during this period rather than players and we see this type of business forming the core of our operation going forward.

We continue to seek to opportunities to expand the Group by acquiring suitable complementary businesses, although given the current small size of the Group any such transaction would probably represent a reverse takeover under the AIM Rules.

I would like to thank again our advisers, who remain supportive and helpful, and especially our Finance Director, Gerry Desler who continues to provide critical operational support.

Barry Gold, Chairman

27 October 2008

Income statement

For the six months ended 31 July 2008

Statement of changes in equity

For the six months ended 31 July 2007

During the six months ended 31 July 2007, a total of £130,000 Convertible Loan Notes were converted into 26 million ordinary shares.

Notes to the accounts

1 General information

Premier Management Holdings Plc is a company incorporated in the United Kingdom, which is listed on the AIM market of the London Stock Exchange Plc. The address of its registered office is 24 Greville Street, London EC1N 8SS.

2 Financial information

The interim financial information set out above does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. It has been prepared under applicable International Financial Reporting Standards adopted by the European Union. ('IFRS').

The accounting policies applied in preparing the interim financial information are consistent with those set out in the statutory accounts of the Group for the year ended 31 January 2008. The comparative figures for the year ended 31 January 2008 are extracted from the statutory accounts for that period which have been filed with the Registrar of Companies. The report of the auditors on those accounts was unqualified.

The financial information for the six months ended 31 July 2008 and the six months ended 31 July 2007 has not been audited. As permitted, the Group has chosen not to adopt IAS 34 'Interim Financial Statements' in preparing this interim financial information.

3 Taxation

On the basis of these accounts there is no tax charge for the period.

4 Earnings per share

The earnings and number of shares used in the calculation of earnings per share are as follows:

There was no dilutive effect from the share options outstanding during the period.

5 Dividends

The directors do not propose to declare a dividend for the period.

6 Share capital

During the period 2,000,000 new ordinary shares of 1 p each were allotted following the conversion of Convertible Loan Notes with a value of £10,000.

ENDS