29th Mar 2005 10:48
Reversus PLC29 March 2005 Reversus plc ("Reversus" or "the Company") Interim Results for the Six Months to 31 December 2004 CHAIRMAN'S STATEMENT Results for the six months to December are for the Company only as there havebeen no operations or subsidiaries since the business and operating assets weresold in September 2003. Accordingly, there was no turnover for the Company for the six month period to31 December 2004 (2003:nil). The loss for the period was £27,000 ( 2003:£147,000). The Company had cash at the end of the period of £593,000 (2003:£661,000) No dividend is payable. The Company has also announced today the acquisition of DTC Group Limited, fulldetails of which are given in the circular which has been posted to shareholdersand is dated 29 March 2005. Profit and loss account For the six months ended 31 December 2004 Six months Six months ended ended Year ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) Notes £'000 £'000 £'000Turnover - - -Administration expenses (41) (134) (174) ________ ________ ________Operating loss (41) (134) (174)Disposal of subsidiary - (18) (16) undertakingInterest receivable 14 5 16 ________ ________ ________Loss on ordinary activities (27) (147) (174) before taxationTaxation 2 - - -Loss for the period (27) (147) (174) ________ ________ ________Loss per share (pence) - basic 3 0.03 0.20 0.25 ======== ======== ======== There are no recognised gains or losses other than those stated in the aboveprofit and loss accounts. Balance sheet As at 31 December 2004 As at As at As at 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £'000 £'000 £'000Current assetsDebtors 2 - 6Cash at bank and in hand 593 661 604 ________ ________ ________ 595 661 610Creditors: amounts falling due within one year (51) (63) (38) ________ ________ ________Net current assets 544 598 572 ________ ________ ________ Net assets 544 598 572 ________ ________ ________Capital and reservesCalled-up share capital 1,804 1,804 1,804Share premium account 10,939 10,939 10,939Capital redemption reserve 9 9 9Profit and loss account (12,208) (12,154) (12,180) ________ ________ ________Equity Shareholders' funds 544 598 572 ======== ======== ======== Cash flow statement For the six months ended 31 December 2004 Six months Six months ended ended Year ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £'000 £'000 £'000Net cash inflow/(outflow)from operating activities (25) 552 (141) Return on investments and servicing of financeInterest received 14 5 16 TaxationTax refund received - 11 11 Acquisition and DisposalsDisposal of subsidiary undertakings - 82 709 ________ ________ ________(Decrease)/increase in cash in the period (11) 650 595 ________ ________ ________ Reconciliation of operating loss to operating cash flowsOperating loss (41) (134) (174)(Increase)/decrease in debtors 4 732 103Increase/(decrease) in creditors 12 (46) (70) ________ ________ ________Net cash inflow/(outflow) from operating activities (25) 552 (141) ======== ======== ======== Reconciliation of net cash flow to movement in net funds Six months Six months ended ended Year ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £'000 £'000 £'000(Decrease)/increase in cash in the period (11) 650 595Movement in net funds in the period (11) 650 595Net funds at 1 January 604 9 9 ________ ________ ________ 593 659 604 ======== ======== ======== Notes 1. Basis of presentation The interim financial statements have been prepared on the basis of theaccounting policies set out in the annual report and accounts of the Company forthe year ended 30 June 2004. The interim financial statements have not beenaudited or reviewed by the Company's auditors.The results for the year ended 30 June 2004 are the results of Rugged plc andare in abbreviated form and have been extracted from the financial statements asfiled with the Registrar of Companies. These financial statements contain anunqualified audit report and do not contain a statement under section 237(2) or237(3) of the Companies Act 1985. 2. Taxation An estimate has been made of the effective rate of taxation for the full year.On this basis, no charge to taxation has been made in the six months to 31December 2004. There was no charge for taxation in the prior year period. 3. Loss per share The calculation of loss per share is based on a loss on ordinary activitiesafter taxation for the six months ended 31 December 2004 of £27,000 (2003: lossof £147,000) and on the number of ordinary shares outstanding during the sixmonths ended 31 December 2004 of 72,160,707 (2003: 72,160,707) 4. Copies of the interim financial statements Copies of the interim financial statements are included in the circular toshareholders dated 29 March 2005 and copies are available on request from theCompany's registered office at 6th Floor, Bucklersbury House, 83 Cannon Street,London EC4N 8ST. For further enquiries please contact: Reversus: Neil Crabb 020 7653 3200Arden Partners: Paul Davies 020 7398 1600 EndMarch 29th, 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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