ValiRx Regulatory News (VAL)

27 Sep 2005 12:09

Azure Holdings Plc (" Company") Interim results for the six months ended 30 June 2005 Chairman's statementIn the six months ended 30 June 2005 the Company incurred a loss before andafter taxation of ‚£74,000 (2004: ‚£229,000).Because of the lack of cash in the Company, creditors have increased butcontinue to be supportive.The directors are continuing to keep overheads to a minimum, the expenses beingthose necessary to maintain the Company's listing on AIM.The board continues to seek an acquisition for the Company.Owing to a technicality, the Company no longer has any authority to issue anyof its share capital and will therefore be convening an extraordinary generalmeeting for this purpose.Nicolas GreenstoneChairman27 September 2005Azure Holdings plcProfit and Loss Accountfor the six months ended 30 June 2005 6 months 6 months Year ended ended 30 ended 30 31 December June 2004 2004 June 2005 (unaudited) (audited) (unaudited) ‚£'000 ‚£'000 ‚£'000 Turnover - - - Administrative expenses (74) (229) (345) Operating loss (74) (229) (345) Loss on ordinary activities before (74) (229) (345)taxation Tax on loss on ordinary activities - - - Loss on ordinary activities after (74) (229) (345)taxation Retained loss for the period (74) (229) (345) Loss per ordinary share (0.15p) (0.65p) (0.86p) The profit and loss account has been prepared on the basis that all operationsare continuing operations. All recognised gains or losses are dealt withthrough the profit and loss account or statement of recognised gains andlosses.Azure Holdings plcBalance Sheetas at 30 June 2005 30 June 2005 30 June 31 December 2004 2004 (unaudited) (unaudited) (audited) ‚£'000 ‚£'000 ‚£'000 Current assets Debtors 3 14 7 Cash at bank and in hand 1 10 14 4 24 21 Creditors: amounts falling due within one (147) (81) (90)year Net current liabilities (143) (57) (69) Total assets less current liabilities (143) (57) (69) Net liabilities (143) (57) (69) Capital and reserves Called up Share Capital 5,475 5,371 5,475 Share Premium 10,279 10,279 10,279 Profit and loss account (15,897) (15,707) (15,823) Equity shareholders deficit (143) (57) (69) Azure Holdings plcCash Flow Statementfor the six months ended 30 June 2005 6 months ended 6 months ended 30 June 2005 30 June 2004 (unaudited) (unaudited) ‚£'000 ‚£'000 Net cash outflow from operating (13) (214)activities Financing Issue of ordinary shares - 105 Decrease in cash (13) (109)Azure Holdings plcNotes to the Interim Results 1. The interim results are unaudited and do not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. The figures for the year ended 31 December 2004 have been extracted from the statutory accounts filed with the registrar of companies on which the auditors gave an unqualified report. 2. The interim results have been prepared using the accounting policies set out in the statutory accounts for the year ended 31 December 2004. 3. The comparative figures for the unaudited interim results for the period ended 30 June 2004 are stated as announced on 29 September 2004. 4. Loss per share The earnings per share for the six months ended 30 June 2005 has beencalculated on the basis of the loss after taxation for the period of ‚£74,000(2004: ‚£229,000 ) and the weighted average number of shares in issue during theperiod of 48,317,569 (2004: 35,417,565). 5. The directors do not propose to pay a dividend for the period. 6. Copies of the interim results are available from the Company's registered office, One Great Cumberland Place, London, W1H 7AL. ENDAZURE HOLDINGS PLC