Half Yearly Report

RNS Number : 7323Y

On-Line PLC

05 March 2012

 



On-line PLC

('On-line' or 'the Company')

Unaudited Interim Results for the Six Months Ended 31 December 2011

On-line today announces unaudited interim results for the six months ended 31 December 2011.

Chairman's Statement

On-line has continued to work with its investments and has made an operating profit of £22,000 (2010: £4,000) for the six months up to December 2011.

ADVFN PLC

ADVFN has continued to build its services across the world. Below are a few extracts from its interim statement:

ADVFN's half year to the end of December 2011 represents another robust performance especially when set against the background of an unprecedented period of financial dislocation.

ADVFN has come out ahead of its previous sales performance in first half of last year and overcome a wide spread chilling effect created by the uncertainties of the euro crisis. This strong relative performance augurs well for the future. Meanwhile 2012 has started well. There appears to be no single trigger, but activity levels have made a dramatic rally from the level of the last three months of 2011 when investors were paralysed by the events of the sovereign debt crisis.

2012 has had an extremely strong start and this will create strong support for growth over the coming months.

Without the unfortunate turbulence of 2011 our results would have been significantly stronger.

2012 appears to be materially different in character from 2009-2011 and in its early stages at least it seems possible that equities may be experiencing a secular shift towards investment in stocks.

This is of course good news for shareholders in general and investors in ADVFN in particular.

Michael Hodges

Chairman

5 March 2012

Contacts:

Clem Chambers [e-mail]

Tom Frew PR,  [e-mail]                                                                            020 7070 0932

Gerry Beaney/Salmaan Khawaja, Grant Thornton UK LLP (Nominated Adviser)       020 7383 5100

On-line PLC

Profit and Loss Account

for the six months ended 31 December 2011

		Six months ended	Six months ended	Year ended
		31 December 2011	31 December 2010	30 June 2011
		Unaudited	Unaudited	Audited
		£'000	£'000	£'000
	Note
Turnover		86	82	160
Administrative expenses		(64)	(78)	(157)
Profit on ordinary activities before taxation		22	4	3
Tax on profit on ordinary activities		-	-	-
Profit on ordinary activities after taxation		22	4	3
Basic profit per ordinary share	2	0.29p	0.05p	0.04p
Diluted profit per ordinary share		0.29p	0.05p	0.04p

All operations are continuing.

There were no recognised gains or losses other than the profit for the period.

On-line PLC

Balance Sheet

at 31 December 2011

		31 December 2011	31 December 2010	30 June 2011
		Unaudited	Unaudited	Audited
		£'000	£'000	£'000
	Note
Fixed assets
Investments		868	868	868
Current assets
Debtors		145	70	81
Cash at bank and in hand		-	12	1
		145	82	82
Creditors: amounts falling due within
one year		(87)	(56)	(50)
Net current assets		58	26	32
Total assets less current liabilities		926	894	900
Capital and reserves
Called up share capital		3,242	3,242	3,242
Share premium account	3	2,205	2,205	2,205
Option valuation reserve	3	28	17	24
Profit and loss account	3	(4,549)	(4,570)	(4,571)
Shareholders' funds		926	894	900

On-line PLC

Cash Flow Statements

for the six months ended 31 December 2011

		Six months ended	Six months ended	Year ended
		31 December 2011	31 December 2010	30 June 2011
		Unaudited	Unaudited	Audited
		£'000	£'000	£'000
	Note
Net cash (outflow)/ inflow from operating activities	3	(56)	7	(4)
(Decrease)/ increase in cash		(56)	7	(4)

On-line PLC

Notes to the interim statement
for the six months ended 31 December 2011

1.             The unaudited interim financial information is for the six month period ended 31 December 2011.  The financial information does not include all the information required for full annual financial statements and should be read in conjunction with the financial statements of the company for the year ended 30 June 2011, which were prepared under the historical cost convention and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

                The accounting policies adopted in this report are consistent with those of the annual financial statements for the year to 30 June 2011 as described in those financial statements.

The interim financial information has been prepared on the going concern basis which assumes the company will continue in existence for the foreseeable future. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.  Accordingly, the directors, believe it is appropriate for the interim financial statement to be prepared on the going concern basis.

The interim financial information has not been audited nor has it been reviewed under ISRE 2410 of the Auditing Practices Board. The financial information presented does not constitute statutory accounts as defined by section 434 of the Companies Act 2006. The company statutory accounts for the year to 30 June 2011 have been filed with the Registrar of Companies. The auditors, Grant Thornton UK LLP reported on these accounts and their report was unqualified and did not contain a statement under section 498(2) or Section 498(3) of the Companies Act 2006.

2.             Earnings per ordinary share

		Six months ended	Six months ended	Year ended
		31 December 2011	31 December 2010	30 June 2011
		£'000	£'000	£'000
Profit for the period	£'000	22	4	3
Weighted average number of shares	'000	7,662	7,662	7,662
Basic earnings per share	p	0.29p	0.05p	0.04p
Weighted average number of shares	'000	7,662	7,662	7,662
Dilutive effect of options	'000	46	603	513
Weighted average number of shares of diluted earnings per share		7,708	8,265	8,175
Diluted earnings per share	p	0.29p	0.05p	0.04p

On-line PLC

Notes to the interim statement
for the six months ended 31 December 2011

3.             Reserves

	Profit and loss account	Option valuation reserve	Share premium account
	£'000	£'000	£'000
At 1 July 2011	(4,571)	24	2,205
Profit retained for the period	22	4	-
At 31 December 2011	(4,549)	28	2,205

4.             Reconciliation of operating profit to net cash (outflow)/inflow from operating activities

	Six months ended	Six months ended	Year ended
	31 December 2011	31 December 2010	30 June 2011
	£'000	£'000	£'000
Profit on ordinary activity before taxation	22	4	3
Equity settled share based payments in the period	4	4	7
(Increase)/decrease in debtors	(64)	8	(3)
Decrease  in creditors	(18)	(5)	(11)
Net cash (outflow) / inflow from operating activities	(56)	11	(4)

5.             The directors cannot recommend the payment of a dividend.

6.            Copies of this statement are being posted to shareholders shortly and will be available from the company's registered office at Suite 27, Essex Technology Centre, The Gables, Fyfield Road, Ongar, Essex, CM5 0GA and in electronic form from the Company's website, http://www.on-line.co.uk/.

 

END

 

 

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