Interim Results
January 27 2006 - 1:01AM
UK Regulatory
RNS Number:5250X
Bolton Group (International) Ld
27 January 2006
Bolton Group (International) Limited
27 January 2006
Bolton Group (International) Limited
Interim Results
Chairman's Statement
The Board of Bolton Group (International) Limited announces the unaudited
results for the six month period ended 31 October 2005.
Results
The Group has made a profit before tax of #20,000 (2004: loss before tax
#34,000). The Directors do not recommend the payment of a dividend.
Review of Operations
Since my last report, the company has undergone a restructuring which has
enabled us to substantially reduce the company's liabilities. The company is
currently looking at various possibilities, with our advisors, to take the
company forward.
Michael Goletka
Chairman
Profit and loss account
for the six months ended 31 October 2005
Note 6 months to Consolidated 6 RESTATED
months to CONSOLIDATED
ACCOUNTS
31 October 31 October Year ended
2005 2004 30 April 2005
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Turnover - 222 468
Administrative expenses (143) (127) (662)
Other operating income - - -
Operating profit / (loss) - 95 (194)
Proceeds from disposal of shares 163 - -
(Loss)/profit on ordinary activities
before interest and taxation 20 (194)
Interest receivable - - -
Interest payable - (129) (272)
(Loss)/profit on ordinary activities
before taxation 20 (34) (466)
Tax on (loss)/profit on ordinary - - -
activities
(Loss)/profit on ordinary activities 20 (34) (466)
after taxation
Exceptional item - 3,227 -
Retained (loss)/profit for the year 20 3,193 (466)
Prior year adjustment - (12,209) -
Retained (loss) / profit 20 (9,016) (466)
(Loss)/earnings per share 3 0.02p 4.4p (0.61)p
Diluted (loss)/earnings per share 3 0.02p 4.4p (0.61)p
All transactions arose from continuing operations during the current and
previous year.
Balance sheet
at 31 October 2005
Note As at Consolidated RESTATED
Accounts as at CONSOLIDATED
ACCOUNTS
31 October 31 October As at
2005 2004 30 April 2005
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Fixed assets
Tangible assets - 3,853 3,534
Current assets
Debtors - 15 16
Cash at bank and in hand - 15 38
30 54
Creditors: amounts falling due within one (418) (973) (1,638)
year
Net current liabilities (418) (943) (1,584)
Total assets less current liabilities (418) 2,910 1950
Creditors: amounts falling due after more
than one year - (3,170) (2,707)
Net (liabilities) / assets (418) (260) (757)
Capital and reserves
Called up share capital 861 721 861
Share premium account 1,645 1,547 1,645
Revaluation reserve - (150) (463)
Other reserves - 5,724 5,725
Profit and loss account (2,924) (8,102) (8,525)
Shareholders' funds - equity (418) (260) (757)
Cash Flow Statement
for the six months ended 31 October 2005
Note 6 months to Consolidated 6 RESTATED
months to CONSOLIDATED
ACCOUNTS
31 October 31 October Year ended
2005 2004 30 April 2005
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
Net cash (outflow) / inflow from
operating activities 28 (554) (592)
Exceptional items - - -
Returns on investments and servicing of -
finance
Interest received - - -
Interest paid - (129) (272)
Sale of Investments 250
Net cash (outflow) from returns on (129) (272)
investments and servicing of finance
Capital expenditure and financial
investments
Purchase / disposal of tangible fixed - - -
assets
Recovered proceeds from the sale of - - -
shares
Net cash (outflow) / inflow from capital
expenditure and financial investments - - -
Net cash (outflow) / inflow before 278 (683) (864)
financing
Financing
Repayment of borrowings - (60) (2,517)
Receipt from borrowings - 743 3,404
Net cash inflow / (outflow) from - 683 887
financing
(Decrease) / increase in cash 278 - 23
NOTES TO THE INTERIM REPORT
1. The interim report has been prepared using accounting policies
consistent with those set out in the statutory accounts of the group for the
year ended 30 April 2005.
2. The financial information for the six month period to 31 October 2005
and 31 October 2004 is unaudited and does not constitute statutory accounts
within the meaning of Section 240 of the Companies Act 1985. The figures
relating to the year ended 30 April 2005 have been restated from those reported
in the 30 April 2005 statutory accounts and on which the auditors gave a
qualified opinion.
3. The calculation of the (loss) / earnings per share and diluted (loss) /
earnings per share are based on the following (losses) / profits after taxation
and weighted average number of shares:
6 months to Consolidated 6 RESTATED
months to
31 October 31 October Year ended
2005 2004 30 April
2005
(Unaudited) (Unaudited) (Audited)
#000 #000 #000
(Loss) / profit after taxation 20 3,193 (466)
Number of shares 86,138,238 72,138,238 86,138,238
Diluted (loss) / earnings per share after 20 3,193 (466)
taxation
Number of shares 86,138,238 72,138,238 86,138,238
4. Copies of this interim report will be available to the public from the
group's registered office.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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