Crimson Tide Regulatory News (TIDE)

30 Sep 2005 11:41

Cohen(A.) & Co PLC30 September 2005 FOR IMMEDIATE RELEASE 30 SEPTEMBER 2005 A. COHEN & CO. PLC Unaudited interim results for the six months ended 30 June 2005 Chairman's Statement The unaudited Group results of A. Cohen & Co. plc (the "Company") for the halfyear ended 30 June 2005 are attached, together with the corresponding resultsfor the six months ended 30 June 2005. Results to June 2005 The results for the period were a net loss of £38,000. The Future The company are actively seeking potential investments and a number have beenevaluated during the period under review and this will continue to be our mainobjective. To minimize expenses as much as possible none of the directors arereceiving any remuneration for the considerable efforts involved in finding asuitable opportunity. G AshleyChairman For further information please contact: J Ferguson on 07818 060152 CONSOLIDATED PROFIT AND LOSS ACCOUNTUnaudited six months ended 30 June 2005 Unaudited six Unaudited six months ended months ended 30 June 30 June 2005 2004 £'000 £'000 Turnover - - Cost of sales - - ----------- -----------Gross profit - - Distribution costs - (112) Other operating income (43) 12 ----------- -----------Operating loss (43) (100) Interest receivable 1 6 Dividends receivable 4 - ----------- -----------Loss on ordinary activities (38) (94)before taxation Tax charge on loss on - -ordinary activities ----------- -----------Loss for the financial (38) (94)period after taxation andattributable to shareholders ----------- -----------Losses per share (pence) (0.25p) (0.62p) CONSOLIDATED BALANCE SHEETUnaudited as at 30 June 2005 30 June 30 June 2005 2004 £'000 £'000Fixed assetsTangible assets - 5Investments 92 278 --------- --------- 92 283 --------- ---------Current assetsDebtors 8 12Cash at bank and in hand 33 151 --------- --------- 41 163 --------- ---------Creditors:amounts falling due within one year (73) (78) --------- ---------Net current (liabilities)/assets (32) 85 --------- ---------Total assets less current liabilities 60 368 Provisions (67) - ========= ========= (7) 368 ========= =========Capital and reservesCalled up share capital 3,032 3,032Capital redemption reserve 49 49Share premium account 2 2Revaluation reserve - -Other reserves 386 386Profit and loss account (3,476) (3,101) --------- ---------Equity shareholders' funds (7) 368 ========= ========= CONSOLIDATED CASH FLOW STATEMENTSix months ended 30 June 2005 Six months Six months ended ended 30 June 2005 30 June 2004 £'000 £'000 £'000 £'000 Net cashflow from operating activities (37) 72 Returns on investments andservicing of financeInterest received 1 6Dividends received 4 - ------ ------Net cash inflow from returns oninvestments and servicing of finance 5 6 -------- --------(Decrease)/increase in cash (32) 78 -------- -------- NOTES TO THE INTERIM RESULTSUnaudited six months ended 30 June 2005 1. Reconciliation of operating loss to net cash inflow from operatingactivities Six months Six months ended ended 30 June 30 June 2005 2004 £'000 £'000 Operating loss (43) (100)Depreciation - 3 Net movement in working capitalDebtors 3 759Creditors 6 (590) Provisions (3) - --------- ---------Net cash (outflow)/inflow from operating activities (37) 72 --------- --------- 2. Cash flow statement: Analysis of net debt At At 1 January Cash 30 June 2005 flow 2005 £'000 £'000 £'000 Cash in hand and at bank 65 (32) 33 --------- --------- --------- 65 (32) 33 --------- --------- --------- 3. Cash flow statement: Reconciliation of net cash flow to movement in net debt Six months Six months ended ended 30 June 30 June 2005 2004 £'000 £'000 £'000 £'000 Change in cash in the period (32) 78 Cash outflow from decrease - 427in debt and lease financing ------- -------Change in net debt resulting from (32) 505cash flows ------- ------- Movement in net debt in the period (32) 505 Net cash/(debt) at start of period 65 (353) ------- -------Net cash at end of period 33 152 ------- ------- 4. Basis of Preparation The interim results for the six months ended 30 June 2005 are unaudited and donot constitute statutory accounts in accordance with section 240 of theCompanies Act 1985. The financial information has been prepared in accordance with applicableaccounting standards and under the historical cost accounting convention. Accounting policies consistent with those applied in the financial statementsfor the year ended 31 December 2004 have been used in preparing the unauditedinterim financial statements for the six months ended 30 June 2005. 5. Dividends The Directors are not declaring a dividend for the six months ended 30 June2005. This information is provided by RNS The company news service from the London Stock Exchange