Interim Results
15 Septembre 2003 - 9:01AM
UK Regulatory
RNS Number:7427P
Optimisa PLC
15 September 2003
OPTIMISA PLC
INTERIM STATEMENT FOR THE SIX MONTHS ENDED 30th JUNE 2003
CHAIRMAN'S STATEMENT
The directors present the results for the six months to 30 June 2003. These
disclose a loss for the period of #10,000 compared with a loss for the
comparative six month period last year of #25,000.
The accounts under review show the effect of the total of the new share issue in
late 2002 which raised #475,000 before costs. At 30 June 2003, the company
retained a cash balance of #449,000, together with quoted and unquoted
investments of #367,000. The net asset position of the company at 30 June 2003
was #792,000 compared with #189,000 as at 30 June 2002.
The directors, in conjunction with the company's advisers, have been reviewing a
number of options for the future of the company and are particularly keen to
utilise the substantial tax losses of over #14m available to it.
It is apparent to the directors, that many of these investment opportunities are
not progressing due to the limited cash resources of the company. It is
therefore the intention of the board to enlarge the resources of the company as
soon as the suitable opportunity arises which will allow the company to increase
the number of available opportunities and the potential to utilise our tax
losses.
Ron Littleboy
Chairman
12 September 2003
OPTIMISA PLC
GROUP PROFIT AND LOSS ACCOUNT
Six months to 30 Six months to Twelve months to 31
June 2003 30 June 2002 December 2002
Unaudited Unaudited Audited
#'000 #'000 #'000
Turnover 17 0 0
Gross profit 17 0 0
Operating costs (30) (26) 121
Operating profit/(loss) (13) (26) 121
Interest receivable 3 1 2
Loss before taxation (10) (25) 123
Taxation on ordinary activities 0 0 0
Loss transferred from reserves (10) (25) 123
Basic loss per ordinary share (2.82) p (13.53) p 59.54 p
Diluted loss per ordinary share (2.64) p (13.50) p 53.05 p
OPTIMISA PLC
BALANCE SHEET
As at As at As at 31 December
30 June 2003 30 June 2002 2002
Unaudited Unaudited Audited
#'000 #'000 #'000
Fixed assets
- Intangible 0 0 0
- Tangible 0 0 0
- Investments 367 0 257
367 0 257
Current assets
Stocks 0 0 0
Debtors 1 2 251
Cash at bank and in hand 449 210 341
450 212 592
Creditors: amounts falling due within one (25) (23) (38)
year
Net Current Assets 425 189 554
Total assets less current liabilities 792 189 811
Creditors: amounts falling due after more 0 0 0
than one year
Net assets 792 189 811
Capital and reserves
Called up share capital 532 342 532
Share premium account 270 16,649 16,934
Profit and loss account (10) (16,802) (16,655)
Shareholders funds 792 189 811
OPTIMISA PLC
RECONCILIATION OF OPERATING PROFIT TO NET CASH OUTFLOW FROM
OPERATING ACTIVITIES
Six months to Six months to 30 Twelve months to 31
30 June 2003 June 2002 December 2002
Unaudited Unaudited Audited
#'000 #'000 #'000
Operating profit/(loss) (13) (26) 121
Amortisation and write down of investments 0 0 0
Depreciation and write down of fixed assets 0 (1) 1
Movement in debtors and stock 250 2 (1)
Movement in creditors (13) (164) (149)
Reversal of impairment of fixed asset investments 0 0 (207)
Net cash inflow/(outflow) from operating activities 224 (189) (235)
GROUP CASHFLOW STATEMENT
Net cash inflow/(outflow) from operating activities 224 (189) (235)
Returns on investments and servicing of finance
Interest received 3 1 2
Interest paid 0 0 0
Tax paid 0 0 0
Net capital expenditure 0 0 0
Acquisitions and investments (117) 0 (50)
Cash inflow/(outflow) before financing 110 (188) (283)
Financing
Issue of shares 0 285 524
less costs in connection with share issues 0 14 0
Increase in cash 110 111 241
OPTIMISA PLC
Notes to the Financial Information
1. ACCOUNTING POLICIES
The interim financial information has been prepared on the basis of the
accounting policies set out in the Group's 2002 statutory accounts to
31 December 2002. The interim figures have not been audited. The interim
statement does not constitute statutory accounts within the meaning of Section
240 of the Companies Act 1985 (The "Act"). Comparative financial information for
the year ended 31 December 2002 has been extracted from the statutory accounts
for the period which have been delivered to the Registrar of Companies and upon
which the auditors gave an unqualified report, with no statement under Section
237(2) or (3) of the Act.
2. DIVIDENDS
No dividend has been declared for the period.
3. EARNINGS PER SHARE
The calculation of earnings per share for the six months to 30 June 2003 is
based on the net loss after tax of #10K (June 2002: #25K), and on 354,989
ordinary shares, (June 2002:184,792), being the weighted average number of
ordinary shares in issue ranking for dividend during the period. The calculation
of diluted earnings per share is based on the net loss after tax and includes in
the weighted average number of shares, 23,256 dilutive shares arising from the
potential exercise of warrants and options (June 2002: 25,256).
4. INTERIM REPORT
The interim statement was approved by the board of directors on 12 September
2002. A copy of the interim results for the six months to 30 June 2003 will be
sent to all shareholders as soon as practicable. Copies of the statement will
be available for a period of one month to members of the public, free of charge,
from the Company's registered office, Roxburghe House, 273 Regent Street,
London, W1B 2HA
For further information please contact:
Ron Littleboy, Chairman, Optimisa plc 07789 691 581
Peter Holmes, Finance Director, Optimisa plc 07786 264 265
Joe Philipsz, Noble & Company Limited 0131 225 9677
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR ZGGMLMZFGFZZ