Interim Results
31 März 2008 - 12:30PM
UK Regulatory
RNS Number:1077R
ALL IPO PLC
31 March 2008
ALL IPO PLC
('ALL IPO' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December 2007
ALL IPO today announces unaudited interim results for the six months ended
31December 2007.
Chief Executive's Statement
Since our last published figures for the year ended June 2007 we have continued
to make IPOs available to the private investor. Currently this is proving to be
a difficult task as most IPOs that had been planned have been postponed or
cancelled altogether.
We have however been able to make available 21 IPOs during the six month period.
Whilst we have been included in a number of major offers, the IPO market is
effectively closed at present due to market conditions. We remain committed to
offering IPOs and firmly believe that private investors should be part of the
IPO process and that when the market returns we will be in a strong position to
benefit.
We have continued to develop ALL IPO's platform and technology base and have
taken the business forward into a new but related area as we felt that it was
not prudent to sit on our hands and wait for more benign market conditions to
return. As such, we have developed a series of tools aimed at the professional
market. This is highly specialised work but our initial order commitment in
effect covers the bulk of our running costs going forwards in 2008. Admittedly,
ALL IPO costs have been reduced to a minimum, but with this project, we are in a
good position to sit out the 'credit crunch' environment awaiting the return of
equities market IPOs.
Meanwhile our professional line opens up other opportunities that may prove
lucrative.
Our costs have remained low and we have reduced the loss for the period by 48%
as compared to the same period last year. These numbers published today include
�236,000 depreciation costs which represent 63% of our total administrative
expenses for the six months.
I would like to thank all of the team for their extremely hard work, their
loyalty and the flexibility to overcome a major hiatus in ALL IPO's original
business model.
Clem Chambers
Chief Executive
31st March 2008
Contacts:
Clem Chambers clemc@advfn.com
Francesca De Franco, PR francescad@advfn.com 020 7070 0932
Fiona Kindness, Grant Thornton UK LLP (Nominated Adviser) 020 7728 3414
ALL IPO PLC
Profit and Loss Account
for the six months ended 31 December 2007
Six months Six months Year
ended ended ended
31 December 31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Turnover 105 2 54
Administrative expenses (373) (526) (1,104)
Operating loss (268) (524) (1,050)
Net interest 3 10 15
Loss on ordinary activities (265) (514) (1,035)
before taxation
Tax on loss on ordinary - - 57
activities
Loss on ordinary activities (265) (514) (978)
after taxation
Loss per ordinary share (0.95p) (1.84p) (3.5p)
There were no recognised gains or losses other than the loss for the financial
period.
ALL IPO PLC
Balance Sheets
at 31 December 2007
31 December 31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Fixed Assets
Tangible fixed assets 3,087 312 295
Investments - 3,187 3,000
3,087 3,499 3,295
Current Assets
Debtors 83 23 141
Cash at bank and in hand 109 499 320
192 522 461
Creditors: amounts falling
due within
one year (91) (117) (322)
Net current assets 101 405 139
Total assets less current 3,188 3,904 3,434
liabilities
Capital and Reserves
Called up share capital 725 725 725
Share premium account 3,145 3,145 3,145
Merger reserve 3,600 3,600 3,600
Option valuation reserve 306 293 287
Profit and loss account (4,588) (3,859) (4,323)
Shareholders' funds 3,188 3,904 3,434
ALL IPO PLC
Cash Flow Statements
for the six months ended 31 December 2007
Six months Six months Year
ended ended ended
31 December 31 December 30 June
2007 2006 2007
Unaudited Unaudited Audited
�'000 �'000 �'000
Net cash outflow from (186) (422) (577)
operating activities
Returns on investment and
servicing of finance
Net interest 3 10 15
Capital expenditure
Purchase of tangible fixed (28) (46) (75)
assets
Net cash outflow before (211) (458) (637)
financing
Financing
Issue of shares - - -
Share issue costs - - -
Net cash inflow from - - -
financing
Decrease in cash (211) (458) (637)
ALL IPO PLC
Notes to the interim statement
for the six months ended 31 December 2007
1. Loss per ordinary share
Six months Six months Year
ended ended ended
31 December 31 December 30 June
2007 2006 2007
Loss for the period �'000 (265) (514) (978)
Weighted average number of '000 27,846 27,846 27,846
shares
Loss per share p (0.95p) (1.84p) (3.5p)
2. Reserves
Profit and Option Share
loss account valuation Merger premium
reserve reserve account
�'000 �'000 �'000 �'000
At 1 July 2007 (4,323) 287 3,600 3,145
Recognition of equity 19 - -
settled share
based payments in the year
(FRS20)
Loss retained for the (265) - - -
period
At 31 December 2007 (4,588) 306 3,600 3,145
3. Reconciliation of operating loss to net cash outflow from operating
activities
Six months Six months Year
ended ended ended
31 December 31 December 30 June
2007 2006 2007
Operating loss (268) (524) (1,050)
Depreciation 236 42 88
Recognition of equity settled share 19 (15) (21)
based payments in the year (FRS20)
Amount written off investment - 188 375
Decrease / (increase )in debtors 58 8 (53)
Increase / (decrease) in creditors (231) (121) 84
Net cash outflow from operating (186) (422) (577)
activities
4. The directors do not recommend the payment of a dividend.
5. The financial information contained in this document does not
constitute statutory accounts within the meaning of Section 240 of the Companies
Act 1985. The financial information for the year ended 30 June 2007 is extracted
from the audited financial statements for that period on which the auditors gave
an unqualified report. A copy of those financial statements has been filed with
the Registrar of Companies
6. The interim financial information has been prepared in accordance
with applicable accounting standards and under the historical cost convention.
The principal accounting policies of the Company have remained unchanged from
those set out in the Company's June 2007 Annual Report and Financial Statements.
7. Copies of this statement are being posted to shareholders shortly
and will be available from the company's registered office at Suite 27, Essex
Technology Centre, The Gables, Fyfield Road, Ongar, CM5 0GA and in electronic
form from the Company's website, http://www.allipo.com/investors .
END
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