Netcentric Systems PLC
8 February 2001
NETCENTRIC SYSTEMS PLC (the 'Company' or 'Netcentric')
Further to the Company's announcement on 31 January 2001 of Netcentric's
preliminary results for the year ended 30 September 2000, the Company
announces an amendment to the presentation of information in the profit & loss
account for the year to 30 September 1999. Under Financial Reporting Standard
3 ('Reporting Financial Performance') a company is required to present
comparative information in respect of turnover and operating loss on the same
basis as that used for the current year results. As a result the Company has
made the following adjustment to the previously disclosed comparative
information relating to the year ended 30 September 1999 in order to reflect
the respective contributions between continuing and discontinued operations as
required under FRS 3. There is no change to the reported loss for either year
as a result of this amendment.
2000 1999
£'000 £'000
Turnover
Continuing operations 824 42
Acquisitions 41 -
865 42
Discontinued operations 1,840 10,785
Total turnover 2,705 10,827
Operating Loss
Continuing operations (975) *(701)
Acquisitions (362) * -
(1,337) *(701)
Discontinued operations 42 * 576
(1,295) (125)
Exceptional operating costs (1,657) (234)
Total operating loss (2,952) (359)
Loss on disposal of subsidiary (661) (118)
Profit on disposal of business 35 29
Loss on ordinary activities before interest (3,578) (448)
Interest income 35 10
Interest payable and similar charges (617) (218)
Loss on ordinary activities before taxation (4,160) (656)
Taxation (25) 26
Loss for the year (4,185) (630)
Loss per share - Basic (3.25)p (0.8)p
- Diluted (3.24)p (0.8)p
(N.B. The figures highlighted with an asterisk above have been amended)
Full explanatory notes to this will be explained in the Report and Accounts,
which will be sent to shareholders in due course.
Contacts:
Howard Freedman, Finance Director, Netcentric Systems Plc
Tel: 020 7314 6859
8 February 2001
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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