TSI.L Regulatory News (TSI)

23 Jan 2007 18:26

Coburg Group PLC23 January 2007 COBURG GROUP PLCUNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED31 OCTOBER 2006 CHAIRMAN'S STATEMENT The figures for the six months to 31st October 2006 are encouraging with salesup almost 6% and losses reduced by almost 55% over the comparative period lastyear. This increase in sales was achieved in spite of an extremely hot July, Augustand September when demand for hot drinks from our customers droppedsubstantially. The Group's management continue to keep tight control on costs. I am pleased to say that the Aroma business, which we bought in March last year,has been integrated successfully into the Group. It sells coffee mainly intooffices and we see good opportunities for growth in this area. We remaininterested in making other acquisitions that can add value to the Group. I would like to thank all the staff for their continued hard work in thebusiness. I have to report that Anne Higgins has decided to leave the Board effective fromtoday. Anne has been an important presence in Langdons and then Coburg and hasprovided strong independent advice to many Directors and members of staff overmore than eleven years. On behalf of the Board I would like to thank her foreverything she has done and wish her well for the future. Alistair SummersChairman COBURG GROUP PLC INTERIM RESULTS 2006 Consolidated Profit and Loss Account Six months Six months Year to 31 October to 31 October to 30 April 2006 2005 2006 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Turnover 1,625 1,534 3,175 Operating Loss (105) (232) (401) Realised & Unrealised Gains & Losseson fixed assets & fixed asset investments - (13) (13) Net Interest (15) (21) (20) Loss Before Taxation (120) (266) (434) Taxation - - -Minority Interests - - - Retained Loss for the FinancialPeriod (120) (266) (434) Loss per Ordinary Share (pence) (0.50) (1.45) (2.06) Notes 1 The results for the 6 month period ended 31 October 2006 and 31 October 2005are unaudited and have been prepared in accordance with the accounting policiesdisclosed in the Group's 2005 Annual Report and Accounts. The consolidatedfinancial information for the 12 months ended 30th April 2005 is derived fromthe full audited consolidated accounts (within the meaning of Section 240,Companies Act 1985), which received an unqualified audit report and have beenfiled with the Registrar of Companies. 2 The loss per share for the period ended 31st October 2006 is calculated onthe consolidated loss on ordinary activities after tax of £120,000, divided by23,790,914 this being the weighted average number of ordinary shares in issueduring the period. 3 No interim dividend is proposed 4 Further copies of the interim report will be available to the public at theregistered office of Coburg Group plc, 3 Harrington Way, Warspite Road, WoolwichLondon SE18 5NU. COBURG GROUP PLC GROUP BALANCE SHEET Consolidated Balance Sheet As at As at As at 31 October 31 October 30 April 2006 2005 2006 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Fixed AssetsTangible 509 501 508Intangible 182 290 211 691 791 719 Current AssetsStock 239 225 233Debtors 636 544 600Cash at Bank and in Hand - 77 - 875 846 833 Creditors falling due within one year (874) (716) (754) Net Current Assets 1 130 79 Total Assets less Current Liabilities 692 921 798 Creditors falling due after more than (144) (87) (131) one year 548 834 667 Minority Interests (11) (11) (10) Net Assets 537 823 657 Capital and Reserves Share Capital 1190 1190 1190Reserves (653) (367) (533) Equity shareholders' funds 537 823 657 COBURG GROUP PLC GROUP CASH FLOW STATEMENT Consolidated Cash Flow Statement Six months Six months Year to 31 October to 31 October to 30 April 2006 2005 2006 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Net Cash inflow /(outflow) from operatingActivities 20 (275) (438)Net Cashflow from one-off - (62) -restructuring Returns on investments and servicing ofFinanceInterest paid (15) (21) (20) Capital expenditure and financialInvestmentPurchase of fixed assets (40) (25) (163)Sale of fixed assets - 6 32 Net cash outflow before financing (35) (377) (589) FinancingProceeds of ordinary share issue - 432 432New borrowings 43 22 -Repayment of borrowings (12) - 46Repayments of finance leases (21) (26) - Net cash inflow from financing 10 428 478 (Decrease)/increase in cash during theperiod (25) 51 (111) This information is provided by RNS The company news service from the London Stock Exchange