Final Results - Year Ended 30 June 1999
Media Content PLC
25 November 1999
Media Content PLC
Preliminary Results for the year ended 30 June 1999
Summary
£
Turnover 40,555
Loss after taxation (1,061,194)
Loss per ordinary share (£ per share) (0.005)
Chairman's Statement
It is with great pleasure I announce the first annual
results of Media Content PLC. It has been an exciting
year featuring a number of watershed events for our new
company:
(1)The incorporation of Media Content Limited on 2
September 1998 by seasoned media executives to take
advantage of a need for advisory services and
partnerships in the fast developing sports media rights
market.
(2)The development of the company's offer in the
marketplace, and the initial relationships with clients.
(3)The acquisition of Media Content Limited by Wilmslow
PLC, and the name change to Media Content PLC.
As a new entity in a fast growing market, we are very
pleased with the progress of the company.
Revenues for the financial year total £40,555. The
principal source of revenues in the period was fees
garnered for advisory services with clients such as the
World Wrestling Federation and the International Football
Channel.
Expenses for the period totalled £833,826 which, net of
interest income, produced a net loss of £1,061,194.
These results, as well as those which will be announced
for the following half year, represent the results of the
company's investment period.
As we look to the future, Media Content expects that the
underlying market it serves will continue to grow, and
that the value of sports media rights will continue to
appreciate. Media Content is positioned to add value to
these rights, to expand its role in the market and to
carve out a place for itself as a first mover in a number
of key market areas.
In addition to its activities in traditional sports media
rights, a significant level of Media Content's activity
in the market is based upon positioning itself to advise
and partner the key companies at the dawn of new market
opportunities such as the internet and capture the value
of these activities for its shareholders.
I am confident that this activity will produce the
desired results, and look forward to an exciting year.
Yours faithfully
Robert Montgomery
Chairman
25 November 1999
Media Content PLC
PROFIT AND LOSS ACCOUNT
19 June 1998 to 30 June 1999
Period
ended
30
June
1999
£
TURNOVER 40,555
Administrative expenses
Amortisation of goodwill (240,750)
Other administrative expenses (593,076)
(833,826)
OPERATING LOSS (793,271)
Loss on disposal of subsidiary (300,000)
Interest receivable and 32,625
similar income
Interest payable and (548)
similar charges
LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION (1,061,194)
Tax charge on loss on -
ordinary activities
LOSS ON ORDINARY ACTIVITIES
AFTER TAXATION BEING
RETAINED LOSS FOR THE YEAR (1,061,194)
Basic loss per share (0.005)
Diluted loss per share (0.005)
All of the company's operations were classified as
acquisitions in the period.
There were no other recognised gains or losses other than
shown above.
Media Content PLC
BALANCE SHEET
30 June 1999
1999
£
FIXED ASSETS
Intangible assets 4,574,250
Tangible assets 26,750
Investments -
4,601,000
CURRENT ASSETS
Debtors 151,238
Cash at bank and in hand 440,009
591,247
CREDITORS: amounts falling
due within one year (44,924)
NET CURRENT ASSETS 546,323
TOTAL ASSETS LESS CURRENT
LIABILITIES 5,147,323
CAPITAL AND RESERVES
Called up share capital 5,812,500
Share premium 396,017
Profit and loss account (1,061,194)
EQUITY SHAREHOLDERS' FUNDS 5,147,323
The financial statements from which these figures are
extracted were approved by the Board of Directors on 25
November 1999.
Copies of the Report and Accounts will be posted to shareholders
today and will be available at the Company's registered office at
29 Pall Mall Deposit, 124-128 Barlby Road, London, W10 6BL.
Further enquiries:
Media Content PLC 0181 960 0422
Jean-Paul de la Fuente
Apax Partners & Co. Capital Limited 0161 831 9133
Ian Currie