28th Mar 2006 07:30
On-Line PLC28 March 2006 Embargoed for release until 7.30 a.m. 28th March 2006 On-line PLC ('On-line' or 'the Company') Unaudited Interim Results for the Six Months Ended 31 December 2005 On-line today announces unaudited interim results for the six months ended 31December 2005. Chairman's Statement You will notice that our results for this period are shown for the Company onlywhereas the comparative figures were consolidated for the Group. This change isdue to accounting requirements as we no longer have any operating subsidiarieswith all of our investments now being either associates or trade investments. The past 12 months have been quiet for the Company as we continue, as inprevious years, to work with our investments, which have been developing apace. ADVFN PLC ADVFN has continued to build and invest in its future and has achieved a 37%increase in users and a 21% increase in turnover. ADVFN has been working onnon-English versions of the site during the past 12 months and has built a newADVFN French site and an Italian site. It also has a Japanese, Brazilian andGerman site in test. The year has also seen the creation of ADVFN Japan - aJoint Venture based in Tokyo. This Joint Venture raised $5M in the local marketto allow it to develop a Japanese site. Since the period-end it announced the purchase of Equity Development Ltd whichis a valuable addition to the group. Equity Development produces high qualitysponsored research, which is used and very well respected throughout the UKfinancial sector. ALL IPO PLC ALL IPO has developed and achieved FSA approval for the ALL IPO system and hasmade its first IPOs available to the public. ALL IPO is a simple idea, whichenables investors to take part in IPOs that, in the past, they would have beenexcluded from. We know there are many investors that would love the opportunityto invest in good companies if only they had access. ALL IPO simply allows thisto happen via the internet; a digital distribution platform bringing investorsand companies seeking investment together. I look forward to another year of working closely with our investments andhelping them to fulfil their potential. Michael HodgesChairman28th March 2006 On-line PLC Profit and Loss Accounts for the six months ended 31 December 2005 Company Group Group Six months ended Six months ended Year ended 31 December 2005 31 December 2004 30 June 2005 Unaudited Unaudited Audited £'000 £'000 £'000 Turnover 19 16 31 Administrative expenses (31) (65) (100) Operating loss (12) (49) (69) Share of operating profits / (losses) of associate - 30 (302)Share of associates losses of its associate - - (19)Gain on investments - 518 -Amount written back on investments - - 728Exceptional items: profits on disposal of - 531 610investmentsShare of exceptional items of associate - 613 574 (12) 1,643 1,522 Net interest - 2 7 (Loss) / profit on ordinary activities before (12) 1,645 1,529taxation Tax on (loss) / profit on ordinary activities - - 3 (Loss) / profit on ordinary activities after (12) 1,645 1,532taxation Minority interest - 6 6 (Loss) / profit retained for the year (12) 1,651 1,538 (Loss) / earnings per ordinary share (0.16p) 21.6p 20.1p On-line PLCBalance Sheetsat 31 December 2005 Company Group Group 31 December 2005 31 December 2004 30 June 2005 Unaudited Unaudited Audited £'000 £'000 £'000 Fixed assetsInvestments 1,373 2,186 1,795 Current assetsDebtors 60 40 95Investments 1,002 91 954Cash at bank and in hand 21 40 48 1,083 171 1,097 Creditors: amounts falling due withinone year (73) (58) (75) Net current assets 1,010 113 1,022 Total assets less current liabilities 2,383 2,299 2,817 Net assets 2,383 2,299 2,817 Capital and reservesCalled up share capital 3,242 3,242 3,241Share premium account 2,205 2,205 2,202Profit and loss account (3064) (3,148) (2,630) Total shareholders funds 2,383 2,299 2,817 On-line PLCCash Flow Statementsfor the six months ended 31 December 2005 Company Group Group Six months ended Six months ended Year ended 31 December 2005 31 December 2004 30 June 2005 Unaudited Unaudited Audited £'000 £'000 £'000 Net cash inflow from operating activities 21 28 49 Returns on investment and servicing of finance Interest paid - - (1) Capital expenditureProceeds from sale of fixed asset investments - - 66Purchase of current asset investments (48) - -Loans to other entities - - (78) (48) - (12) Net cash (outflow) / inflow before financing (27) 28 36 FinancingIssue of ordinary share capital - 4 4 Net cash inflow from financing - 4 4 (Decrease) / increase in cash (27) 32 40 On-line PLCStatement of Total Recognised Gains and Lossesfor the six months ended 31 December 2005 Company Group Group Six months ended Six months ended Year ended 31 December 2005 31 December 2004 30 June 2004 Unaudited Unaudited Audited £'000 £'000 £'000 (Loss) / profit for the period (12) 1,651 1,538 Unrealised (loss) / gain on current asset - (10) 694investmentsShare of prior year adjustments of associate - - (77) Total recognised gains and losses for the period (12) 1,641 2,155 On-line PLC Notes to the interim statementfor the six months ended 31 December 2005 1. (Loss) / earnings per ordinary share Company Group Group Six months ended Six months ended Year ended 31 December 2004 31 December 2004 30 June 2005 (Loss) / profit for the period £'000 (12) 1,651 1,538 Weighted average number of shares '000 7,662 7,646 7,654 (Loss) / earnings per share P (0.16p) 21.6p 20.1p 2. The directors do not recommend the payment of a dividend. 3. The financial information contained in this document does notconstitute statutory accounts within the meaning of Section 240 of the CompaniesAct 1985. The financial information for the year ended 30 June 2005 is extractedfrom the audited financial statements for that period on which the auditors gavean unqualified report. A copy of those financial statements has been filed withthe Registrar of Companies. 4. Copies of this statement are being posted to shareholders shortly and will be available from the company's registered office at 642a Lea Bridge Road,Leyton, London, E10 6AP. 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