Final Results

On-Line PLC 19 December 2006 Embargoed for release until 1.30 pm 19th December 2006 On-line PLC ('On-line' or 'the Company') Preliminary Results for the Year Ended 30 June 2006 On-line today announces preliminary results for the year ended 30 June 2006. For further information, please contact: On-line Plc Michael Hodges, Chairman and Managing Director mikeh@advfn.com On-line PLC Chairman's Statement You will notice that our results for this year are shown for the Company, whereas previously figures were consolidated for the Group. This change is due to accounting requirements as we no longer have any operating subsidiaries; with all of our investments now being either associates or trade investments. In the past year we have been busy working with our investments, which, I'm happy to report have been developing to plan. ADVFN Plc ADVFN has undergone a transformation; it is no longer solely a UK-centric stocks and shares website. It has geo-targeted, native language versions of the site in Italy, Japan, Brazil, Germany, France, India and the USA. ADVFN is operating on a global basis, while enjoying the cost benefits of managing its sites in-house. ADVFN has now become an international brand. Its tactics are to address familiar markets from London and partner in territories such as Japan and Brazil which, although exciting and potentially lucrative, are hard for it to approach directly. It has made acquisitions when opportunities have arisen and is now in a position where it has all the pieces in place to grow in territories it has already entered and can replicate this model in new global markets. Since the year end ADVFN has made big strides towards its growth strategy by buying InvestorsHub.com and Silicon Investor - two top five online investment community websites in the North American market which have over 100 million combined monthly page views. Equity Holdings Limited, which was acquired by ADVFN in February of this year, has exceeded its first turnover milestone, in respect of the financial year to June 2006. Equity Development's core product is high quality equity research. Their profitable financial year saw a rise of over 40% in the number of companies paying for this product. In addition, Equity Development was able to expand its range of services approved by the FSA and became an authorised Corporate Adviser for companies on the thriving PLUS Markets exchange. All IPO Plc All IPO Plc achieved FSA regulatory authorisation in August 2005 and LSE membership in May 2006, and has since focused on building up both customer base and profile with investment banks and brokers in the City. As it has been introducing City investment banks to its platform it has had the opportunity to make various IPOs available to its growing user base of private investors and consequentially has linked up with Stocktrade and Etrade to bring the All IPO platform to their customers. The British Government has stated that it wishes to privatise many of its shareholdings in enterprises such as the Tote and British Energy and All IPO is working hard to win inclusion for the private investor via the All IPO platform. Since the year end All IPO has launched an IPO discretionary service joint venture with Redmayne Bentley Stockbrokers. By combining All IPO's platform and technical skills with Redmayne Bentley's award winning discretionary investment management, it should significantly broaden the spectrum of IPO investments to which the private investor can gain exposure and we are excited about it's prospects. Michael Hodges Chairman 19 December 2006 On-line PLC Profit and Loss Account for the year ended 30 June 2006 Note 2006 2005 £'000 £'000 Turnover 36 31 Administrative expenses (54) - Operating (loss)/profit (18) 31 Profit on sale of investments - 25 Amount (written off)/written back on (85) 728 investments Net interest - (1) (Loss)/profit on ordinary activities (103) 783 before taxation Tax on (loss)/profit on ordinary - - activities (Loss)/profit on ordinary activities (103) 783 after taxation (Loss)/earnings per ordinary share 2 Basic (1.3)p 10.2p Diluted (1.3)p 9.5p All operations are continuing. On-line PLC Balance Sheet at 30 June 2006 2006 2005 Note £'000 £'000 Fixed assets Investments 1,288 1,373 Current assets Debtors 56 95 Investments 794 954 Cash at bank and in hand 27 48 877 1,097 Creditors: amounts falling due within (82) (75) one year Net current assets 795 1,022 Total assets less current liabilities 2,083 2,395 Capital and reserves Called up share capital 3,242 3,242 Share premium account 2,205 2,205 Profit and loss account (3,364) (3,052) Shareholders' funds 3 2,083 2,395 The financial statements were approved by the Board of Directors on 19 December 2006. On-line PLC Cash Flow Statement for the year ended 30 June 2006 2006 2005 Notes £'000 £'000 Net cash (outflow)/inflow from operating 4 (4) 115 activities Returns on investment and servicing of finance Interest paid - (1) Capital expenditure and financial investment Purchase of investments (49) - Loans repaid to/(paid to) other entities 32 (78) (17) (78) Net cash inflow before financing (21) 36 Financing Issue of ordinary share capital - 4 Net cash inflow from financing - 4 (Decrease)/increase in cash 5,6 (21) 40 Statement of Total Recognised Gains and Losses for the year ended 30 June 2006 2006 2005 £'000 £'000 (Loss)/profit for the financial year (103) 783 Unrealised (loss)/gain on current asset (209) 694 investments Total recognised gains and losses for the year (312) 1,477 On-line PLC Notes for the year ended 30 June 2006 1. General The financial information herein does not constitute statutory accounts as defined in section 240 of the Companies Act 1985. The financial information has been extracted from the group's 2005 statutory financial statements upon which the auditors reported on 19 December 2006. Their opinion is unqualified and does not include any statement under section 237 of the Companies Act 1985. Copies of the annual report are being posted to shareholders and copies will be available from the company's registered office at Suite 27, Essex Technology Centre, The Gables, Fyfield Road, Ongar, Essex, CM5 0GA. 2. (Loss)/earnings per ordinary share The calculation of the basic earnings or loss per share is based on the earnings attributable to ordinary shareholders divided by the weighted average numbers of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares. Reconciliations of earnings and weighted average number of shares used in the calculation are set out below. 2006 2005 Number of Earnings Number of Earnings Loss shares per share Profit shares per share £'000 '000 p £'000 '000 P (Loss)/profit for the year (103) 783 Weighted average number of shares 7,662 7,654 Basic earnings per share (1.3)p 10.2p Number of shares under option - 990 Number of shares that would have - (448) been issued at average market value Diluted earnings per share (103) 7,662 (1.3)p 783 8,196 9.5p There is no diluted loss per share as the options are anti-dilutive. 3. Reconciliation of movements in shareholders' funds 2006 2005 £'000 £'000 (Loss)/profit for the financial year (103) 783 Unrealised (loss)/profit on investments (209) 694 Receipts from issue of shares - 4 Net (decrease)/increase in shareholders' funds in the (312) 1,481 year Shareholders' funds at 1 July 2005 2,395 914 Shareholders' funds at 30 June 2006 2,083 2,395 4. Reconciliation of operating profit to net cash outflow from operating activities 2006 2005 £'000 £'000 Operating (loss)/profit 18) 31 Decrease in debtors 7 3 Increase in creditors 7 81 Net cash (outflow)/inflow from operating (4) 115 activities 5. Reconciliation of net cash flow to movement in net funds 2006 2005 £'000 £'000 (Decrease)/increase in cash for the year (21) 40 Movement in net funds in the year (21) 40 Net funds at 1 July 2005 48 8 Net funds at 30 June 2006 27 48 6. Analysis of movement in net debt At Cash flow At 1 July 30 June 2006 2005 £'000 £'000 £'000 Cash in hand and at bank 48 (21) 27 This information is provided by RNS The company news service from the London Stock Exchange ILFFLFLLALIR
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