CMP Champion

 

TIDMCMP 
 
RNS Number : 5375P 
Champion PLC 
26 March 2009 
 
 
 
 
 
Champion plc ("Champion" or the "Company") 
 
 
Interim Results for the period ended 31 December 2008 
 
 
Chairman's Statement 
 
 
I am pleased to report on the results for the six months ended 31 December 2008. 
 
 
 
 
RESULTS 
 
 
 
 
Turnover for the Group during the period was GBP3.1m with a profit before 
interest and tax of GBP48k, resulting in an operating margin before interest and 
tax of 1.5%. 
 
 
The basic loss per share is 0.16 pence. 
 
 
The Balance Sheet at the period end showed net assets including intangibles of 
GBP3.82m. 
 
 
The Directors do not recommend the payment of a dividend. 
 
 
 
 
DEVELOPMENT OF THE BUSINESS 
 
 
Although income increased by 2% for the six months, compared to the same period 
last year, increased costs resulted in the Group recording a loss for the 
period. The increased costs reflect both the costs of redundancies made and the 
cost associated with the reorganisation of Champion Business Advisors Limited. 
 
 
During the period the Group acquired the goodwill and business assets of 
Robinson Rose Limited from the Company's administrators. The consideration of 
GBP17k was settled by an initial payment of GBP10k with the remainder deferred 
to be paid in six months time. The turnover for Robinson Rose Limited for the 
year February 2008 was GBP212,803. The business will be carried on through 
Champion Business Advisors Limited. 
 
 
During the period the Group acquired 42.86% of the issued share capital of 
Champion Business Advisors Limited from John Stokes. The consideration was 
GBP160k and was wholly satisfied by transfer of debtors and work in progress. At 
the same time John Stokes resigned as a director and employee of the Company. 
This takes the Group's share holding in Champion Business Advisors to 100%. 
 
 
THE FUTURE 
 
 
Having made the cost cuts necessary in the first six months the Directors are 
confident that the Group has returned to profitability in the second half of the 
year. They are also confident that fee income will continue to increase from 
both existing and new service lines. 
 
 
Click on, or paste the following link into your web browser, to view the 
associated PDF document 
 
 
 
http://www.rns-pdf.londonstockexchange.com/rns/5375P_1-2009-3-26.pdf 
 
 
 
 
 
K Philbin 
Chairman 
25 March 2009 
 
 
 
 
 
 
 
 
 
For further information please contact : 
 
 
Ged Cosgrove, 
 Champion Plc. -0161 703 2500. 
Nick Cowles/Bobby Fletcher, 
 Zeus Capital Limited - 0161 831 1512 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IR KGGZFMVDGLZM 
 

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