Interim Results
Omega Diagnostics Group PLC
27 September 2006
Omega Diagnostics Group PLC
26-Sep-2006
Omega Diagnostics Group PLC (formerly Quintessentially English PLC)
(the 'Company')
Interim Results
The Company announces its interim results for the six month period to 30th June
2006. These interim results do not include any results for Omega Diagnostics
Limited ('Omega'), the acquisition of which was announced on 24th August 2006
and unanimously approved by shareholders at the EGM on 18th September 2006.
Since the Company's Admission to AIM in March 2004 it has continued to evaluate
a number of potential acquisitions and this has resulted in the purchase of
Omega.
During the six months ended 30th June 2006, there was a turnover in respect of
the Company (excluding Omega) of £Nil, and a loss after tax of £73,218, the bulk
of which related to abort fees incurred on prospective acquisitions paid to
advisers undertaking due diligence. No Company directors received any
remuneration during the period and no dividend is recommended.
The future
Omega manufactures and distributes test kits for tropical and other diseases on
a global basis, selling product through a strong distribution network in over
100 countries and which it has been involved in for the past 19 years. Omega has
identified a number of prospective and related acquisitions and intends to grow
in this way.
Michael Gurner will be staying on as a non-executive director and Robert Coe and
Graham Ashley have resigned following the EGM. David Evans has become Chairman
and Andrew Shepherd and Kieron Harbinson have joined the Board as Chief
Executive and Finance Director respectively.
For further information:
Omega Diagnostics Group PLC
Mr Michael Gurner, 07768 231 731
Profit and Loss Account
For the period 01/01/06 to 30/06/06
Note Period Ended 30/06 Period Ended 30/06
/2006 (unaudited) /2005 (unaudited)
£ £
Turnover - -
Administrative expenses (75,850) (60,633)
Operating Loss (75,850) (60,633)
Interest Receivable 2,674 4,382
Interest Payable (42) (32)
Loss on ordinary activities before taxation 1 (73,218) (56,283)
Taxation - -
Loss on ordinary activities after taxation (73,218) (56,283)
Basic and diluted earnings per Ordinary share (pence) (0.66) (0.50)
Dividends per share (pence) 0 0
Balance Sheet
As at 30/06/06
Note 30/06/2006 30/06/2005
(unaudited) (unaudited)
£ £ £ £
Fixed Assets
Investments 2 2
Current Assets
Prepayments 3,825 0
Cash at bank in hand 124,820 198,277
Current Liabilities
Creditors: Amounts falling (80,122) (48,120)
due within one year
Net current assets 48,523 150,157
Total assets less current 48,525 150,159
liabilities
Called up share capital 2 111,769 111,769
Share premium 3 167,867 167,867
Profit and loss account (231,111) (129,477)
Equity shareholders funds 48,525 150,159
Net assets per share (pence) 4 0.43p 1.34p
Cash Flow Statement
For the period from 01/01/06 to 30/06/06
Note Period Ended 30/06 Period Ended 30/06
/2006 (unaudited) /2005 (unaudited)
£ £
Net cash inflow from operating activities (29,938) (28,677)
Returns on investment and servicing of finance:
Interest received 2,674 4,382
Interest payable (42) (32)
Decrease in cash (27,306) (24,327)
Notes to the Interim Report
1. Loss on ordinary activities before taxation
The loss for the period is representative of operational overheads incurred in
the period.
2. Called up share Capital
The issued share capital compromises 11,176,865 ordinary shares of 1p each,
consisting of 200 shares of 1p each issued as two £1 subscriber shares on
incorporation and converted into 1p shares on 23rd February 2004, 6,666,665
ordinary shares of 1p each issued on 24th February 2004 and 4,510,000 ordinary
shares of 1p each issued on 18th March 2004.
3. Share premium
The share premium represents:
£
Premium arising on issues of ordinary shares in the period ended 31/12/2004 213,731
Expenses of shares issues in the period ending 31/12/2004 (45,864)
At 30th June 2006 167,867
4. Net assets per share
The calculation of net assets per share is based on the net assets at the end of
the period of £48,525 and on the number of ordinary shares in issue (11,176,865)
at 30th June 2006.
5. Preparation of Interim Report
The interim financial information for the period from 1 January 2006 to 30th
June 2006 was approved by the directors on 26 September 2006.
6. Financial information
The financial information in this statement does not constitute statutory
accounts within the meaning of section 240 of the Companies Act 1985.
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