Interim Results
22 Dezember 2008 - 9:00AM
UK Regulatory
22 December 2008
SECORA PLC
INTERIM RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2008
Secora plc is pleased to announce its unaudited interim results for six months
to 30 September 2008.
CHAIRMAN'S STATEMENT
Summary
- The Company made a loss on ordinary activities before tax in the period of �
81,314 (2007: Profit of �11,793).
- The loss reflects reduced income from the Company's investment in the Billy
Elliot musical.
- Losses per share of 0.76p (diluted 0.76p) compared to a profit per share of
0.07p (diluted 0.06p) previously.
Move to PLUS market
The Company has sought a listing on the PLUS market following delisting from
the AIM market at the end of September. This move has been driven by the desire
to keep administrative costs to a minimum and also because the company believes
that PLUS offers an appropriate capital market for a company of Secora's size
and a suitable trading platform for shareholders.
Board changes
John Wilson, Jemma George and Richard Thompson have all resigned as directors
of the Company. The Board therefore currently consists of Marcus Yeoman (non
executive chairman) and Rupert Horner (finance director). The Board will seek
to appoint a further non executive director in due course.
Investment in Miller Harris
During the six month period, the Company invested �736,900 in acquiring a 22%
investment in Miller Harris Limited, a specialist perfumer and fragrance
business. This business has traded satisfactorily.
Outlook
The Company will concentrate on maximising the value of its current investments
and is not actively looking at this stage to make any further investments. The
Company will continue to review investment opportunities but it will be
necessary to raise further funds before the Company would be in a position to
proceed with any further significant acquisition.
Marcus Yeoman
Chairman
December 2008
Income Statement for 6 months to 30 September 2008
Unaudited Audited Unaudited
period 1st period 1st period 1st
April 2008 to April 2007 to April 2007 to
30th September 31st March 30th September
2008 2008 2007
� � �
Revenue 55,459 839,714 134,473
Cost of sales - (74,757) -
Gross Profit 55,459 764,957 134,473
Administrative Expenses (106,316) (245,617) (73,665)
Operating profit/(loss) before (50,857) 519,340 60,808
amortisation
Amortisation (54,000) (127,958) (65,940)
Operating profit/(loss) after (104,857) 391,382 (5,132)
amortisation
Interest receivable 23,543 38,036 16,925
Profit/(loss) on ordinary (81,314) 429,418 11,793
activities before tax
Tax 4,708 7,607 3,400
Profit/(loss) on ordinary (86,022) 421,811 8,393
activities after tax
Earnings(loss) per Pence per Pence per Pence per
ordinary share share share share
- Basic (0.76) 3.71 0.07
- Diluted (0.76) 3.71 0.06
Balance Sheet as at 30 September 2008
Unaudited as Audited as Unaudited as
at 30th at 31st at 30th
September 2008 March 2008 September 2007
� � �
Fixed Assets
Tangible Fixed Assets - 653 1,188
Investments 736,900 - -
Intangible assts 186,803 240,803 302,281
923,703 241,456 304,009
Current Assets
Debtors and pre-paid expenses 357,850 478,486 59,810
Current asset investments held for - - 75,735
resale
Cash at bank 144,782 887,582 680,623
502,632 1,366,068 816,168
Current Liabilities
Creditors: Amounts falling due (34,937) (130,104) (72,035)
within one year
Net current assets 467,695 1,235,964 744,133
Net assets 1,391,398 1,477,420 1,048,142
Share capital and reserves
Share capital 568,750 568,750 568,750
Share premium 3,368,080 3,368,080 3,368,080
Profit and loss reserves (2,545,432) (2,459,410) (2,888,688)
1,391,398 1,477,420 1,048,142
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD TO 30 SEPTEMBER 2008
1. Basis of Preparation
The figures have not been audited or reviewed. The interim report and financial
statements are prepared under the historical cost convention. They have been
prepared in accordance with applicable United Kingdom Accounting Standards (UK
GAAP). The interim financial statements do not constitute statutory accounts as
defined by Section 240 of the Companies Act 1985.
The financial information for the year ended 31 March 2008 has been extracted
from the statutory accounts for the Company for that period. These published
accounts in a form consistent with UK GAAP were reported on by the auditors
without qualification or an emphasis of matter reference and did not include a
statement under Section 237(2) or (3) of the Companies Act 1985 and have been
delivered to the Registrar of Companies.
The Directors of the Issuer accept responsibility for this announcement.
--ENDS--
Contact Details
COMPANY
Marcus Yeoman - Chairman
Rupert Horner - Finance Director
Tel: 07867807135
CORPORATE ADVISOR
Rivington Street Corporate Finance
Monisha Varadan
Tel: 02075623389
Leo Godsall
Tel: 02075623393
END
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