Interim Results
On-Line PLC
28 March 2006
Embargoed for release until 7.30 a.m. 28th March 2006
On-line PLC
('On-line' or 'the Company')
Unaudited Interim Results for the Six Months Ended 31 December 2005
On-line today announces unaudited interim results for the six months ended 31
December 2005.
Chairman's Statement
You will notice that our results for this period are shown for the Company only
whereas the comparative 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.
The past 12 months have been quiet for the Company as we continue, as in
previous years, to work with our investments, which have been developing apace.
ADVFN PLC
ADVFN has continued to build and invest in its future and has achieved a 37%
increase in users and a 21% increase in turnover. ADVFN has been working on
non-English versions of the site during the past 12 months and has built a new
ADVFN French site and an Italian site. It also has a Japanese, Brazilian and
German site in test. The year has also seen the creation of ADVFN Japan - a
Joint Venture based in Tokyo. This Joint Venture raised $5M in the local market
to allow it to develop a Japanese site.
Since the period-end it announced the purchase of Equity Development Ltd which
is a valuable addition to the group. Equity Development produces high quality
sponsored research, which is used and very well respected throughout the UK
financial sector.
ALL IPO PLC
ALL IPO has developed and achieved FSA approval for the ALL IPO system and has
made its first IPOs available to the public. ALL IPO is a simple idea, which
enables investors to take part in IPOs that, in the past, they would have been
excluded from. We know there are many investors that would love the opportunity
to invest in good companies if only they had access. ALL IPO simply allows this
to happen via the internet; a digital distribution platform bringing investors
and companies seeking investment together.
I look forward to another year of working closely with our investments and
helping them to fulfil their potential.
Michael Hodges
Chairman
28th March 2006
On-line PLC
Profit and Loss Accounts
for the six months ended 31 December 2005
Company Group Group
Six months ended Six months ended Year ended
31 December 2005 31 December 2004 30 June 2005
Unaudited Unaudited Audited
£'000 £'000
£'000
Turnover 19 16 31
Administrative expenses (31) (65) (100)
Operating loss (12) (49) (69)
Share of operating profits / (losses) of associate - 30 (302)
Share of associates losses of its associate - - (19)
Gain on investments - 518 -
Amount written back on investments - - 728
Exceptional items: profits on disposal of - 531 610
investments
Share of exceptional items of associate - 613 574
(12) 1,643 1,522
Net interest - 2 7
(Loss) / profit on ordinary activities before (12) 1,645 1,529
taxation
Tax on (loss) / profit on ordinary activities - - 3
(Loss) / profit on ordinary activities after (12) 1,645 1,532
taxation
Minority interest - 6 6
(Loss) / profit retained for the year (12) 1,651 1,538
(Loss) / earnings per ordinary share (0.16p) 21.6p 20.1p
On-line PLC
Balance Sheets
at 31 December 2005
Company Group Group
31 December 2005 31 December 2004 30 June 2005
Unaudited Unaudited Audited
£'000 £'000 £'000
Fixed assets
Investments 1,373 2,186 1,795
Current assets
Debtors 60 40 95
Investments 1,002 91 954
Cash at bank and in hand 21 40 48
1,083 171 1,097
Creditors: amounts falling due within
one year (73) (58) (75)
Net current assets 1,010 113 1,022
Total assets less current liabilities 2,383 2,299 2,817
Net assets 2,383 2,299 2,817
Capital and reserves
Called up share capital 3,242 3,242 3,241
Share premium account 2,205 2,205 2,202
Profit and loss account (3064) (3,148) (2,630)
Total shareholders funds 2,383 2,299 2,817
On-line PLC
Cash Flow Statements
for the six months ended 31 December 2005
Company Group Group
Six months ended Six months ended Year ended
31 December 2005 31 December 2004 30 June 2005
Unaudited Unaudited Audited
£'000 £'000 £'000
Net cash inflow from operating activities 21 28 49
Returns on investment and servicing of finance
Interest paid - - (1)
Capital expenditure
Proceeds from sale of fixed asset investments - - 66
Purchase of current asset investments (48) - -
Loans to other entities - - (78)
(48) - (12)
Net cash (outflow) / inflow before financing (27) 28 36
Financing
Issue of ordinary share capital - 4 4
Net cash inflow from financing - 4 4
(Decrease) / increase in cash (27) 32 40
On-line PLC
Statement of Total Recognised Gains and Losses
for the six months ended 31 December 2005
Company Group Group
Six months ended Six months ended Year ended
31 December 2005 31 December 2004 30 June 2004
Unaudited Unaudited Audited
£'000 £'000 £'000
(Loss) / profit for the period (12) 1,651 1,538
Unrealised (loss) / gain on current asset - (10) 694
investments
Share of prior year adjustments of associate - - (77)
Total recognised gains and losses for the period (12) 1,641 2,155
On-line PLC
Notes to the interim statement
for the six months ended 31 December 2005
1. (Loss) / earnings per ordinary share
Company Group Group
Six months ended Six months ended Year ended
31 December 2004 31 December 2004 30 June 2005
(Loss) / profit for the period £'000 (12) 1,651 1,538
Weighted average number of shares '000 7,662 7,646 7,654
(Loss) / earnings per share P (0.16p) 21.6p 20.1p
2. The directors do not recommend the payment of a dividend.
3. The financial information contained in this document does not
constitute statutory accounts within the meaning of Section 240 of the Companies
Act 1985. The financial information for the year ended 30 June 2005 is extracted
from the audited financial statements for that period on which the auditors gave
an unqualified report. A copy of those financial statements has been filed with
the Registrar of Companies.
4. Copies of this statement are being posted to shareholders shortly and will
be available from the company's registered office at 642a Lea Bridge Road,
Leyton, London, E10 6AP.
This information is provided by RNS
The company news service from the London Stock Exchange R