Interim Results

On-Line PLC 31 March 2008 On-line PLC ('On-line' or 'the Company') Unaudited Interim Results for the Six Months Ended 31 December 2007 On-line today announces unaudited interim results for the six months ended 31 December 2007. Chairman's Statement You will see from our figures below that our turnover is up and we are now making a small operating profit compared to an operating loss for the same period last year. However, we have had to include an amount of £87,000 which is written off on investments resulting in a loss after tax of £83,000 compared to a loss of £211,000 for the same period last year. Similarly we have reduced our loss per share from 2.75p last year to 1.08p this year. ADVFN PLC ADVFN has once again continued to do well and its numbers are all growing well. Its turnover was up 26.4% to £3.34M (2006: £2.64M), losses after tax down 39% to £572,000 (2006: £938,000) and it was cash neutral for the six month period with cash in hand of £1.367M (June 2007: £1.358M). Its user numbers are up almost 50% to 1.2M (2006: 810K) and the users for the whole group are up over 22% to 3.8M at the report date compared to 3.1M at the last interim report date of 30 March 2007. ADVFN is a business which is active 24 hours a day, 7 days a week, 365 days a year and the work involved in running a business operating those sort of hours across many different Stock Exchanges and distributed around the world is not an easy task. We are very pleased with the progress made there. ALL IPO PLC ALL IPO has continued to bring IPOs to the private investor. However the present climate has not made that task easy. Consequently its revenues in this area are still low. The ALL IPO system is in place, is FSA approved and will be ready once the market conditions improve and the flow of IPOs picks up again. Rather than standing on the sidelines waiting for the market situation to change, the company has proactively started to develop the ALL IPO system into new areas with a series of tools aimed at the professional market. This has already begun to generate an income which bodes well for its future. Michael Hodges Chairman 31st March 2008 Contacts: Michael Hodges mikeh@advfn.com Francesca De Franco, PR francescad@advfn.com 020 7070 0932 Fiona Kindness, Grant Thornton UK LLP (Nominated Adviser) 020 7728 3414 On-line PLC Profit and Loss Accounts for the six months ended 31 December 2007 Six months ended Six months ended Year ended 31 December 2007 31 December 2006 30 June 2007 Unaudited Unaudited Audited £'000 £'000 £'000 Turnover 59 27 54 Administrative expenses Equity settled share based payment charge - - (11) Other administrative expenses (55) (31) (50) Total administrative expenses (55) (31) (61) Operating profit / (loss) 4 (4) (7) Profit on sale of investments - - 1 Amount written off on investments (87) (207) (273) Net interest - - - Loss on ordinary activities before taxation (83) (211) (279) Tax on loss on ordinary activities - - - Loss on ordinary activities after taxation (83) (211) (279) Loss per ordinary share (1.08p) (2.75p) (3.6p) On-line PLC Balance Sheets at 31 December 2007 31 December 2007 31 December 2006 30 June 2007 Unaudited Unaudited Audited £'000 £'000 £'000 Fixed assets Investments 928 1,081 1,015 Current assets Debtors 33 58 7 Investments 540 796 900 Cash at bank and in hand 33 21 46 606 875 953 Creditors: amounts falling due within one year (97) (82) (88) Net current assets 509 793 865 Total assets less current liabilities 1,437 1,874 1,880 Capital and reserves Called up share capital 3,242 3,242 3,242 Share premium account 2,205 2,205 2,205 Option valuation reserve 11 59 11 Profit and loss account (4,021) (3,632) (3,578) Total shareholders funds 1,437 1,874 1,880 On-line PLC Cash Flow Statements for the six months ended 31 December 2007 Six months ended Six months ended Year ended 31 December 2007 31 December 2006 30 June 2007 Unaudited Unaudited Audited £'000 £'000 £'000 Net cash (outflow) / inflow from operating (13) (6) 13 activities Capital expenditure Proceeds of disposal of investments - - 10 Loans made to other entities - - (4) - - 6 (Decrease) / increase in cash (13) (6) 19 On-line PLC Statement of Total Recognised Gains and Losses for the six months ended 31 December 2007 Six months ended Six months ended Year ended 31 December 2007 31 December 2006 30 June 2007 Unaudited Unaudited Audited £'000 £'000 £'000 Loss for the period (83) (211) (279) Unrealised (loss) / gain on current asset (360) 2 65 investments Total recognised gains and losses for the period (443) (209) (214) On-line PLC Notes to the interim statement for the six months ended 31 December 2007 1. Loss per ordinary share Six months ended Six months ended Year ended 31 December 2007 31 December 2006 30 June 2007 Loss for the period £'000 (83) (211) (279) Weighted average number of shares '000 7,662 7,662 7,662 Loss per share p (1.08p) (2.75p) (3.6p) 2. Reserves Profit and loss Option valuation Share premium account reserve account £'000 £'000 £'000 At 1 July 2007 (3,578) 11 2,205 Unrealised loss on current asset investments - - (360) Loss retained for the period (83) - - At 31 December 2007 (4,021) 11 2,205 3. Reconciliation of operating loss to net cash outflow from operating activities Six months ended Six months ended Year ended 31 December 2007 31 December 2006 30 June 2007 Operating profit / (loss) 4 (4) (7) Recognition of equity settled share based payments in the year (FRS20) - - 11 (Increase) / decrease in debtors (26) (2) 3 Increase in creditors 9 - 6 Net cash outflow / (inflow) from operating (13) (6) 13 activities 4. The directors do not recommend the payment of a dividend. 5. 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 2007 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 6. The interim financial information has been prepared in accordance with applicable accounting standards and under the historical cost convention. The principal accounting policies of the Company have remained unchanged from those set out in the Company's June 2007 Annual Report and Financial Statements. 7. 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/ . This information is provided by RNS The company news service from the London Stock Exchange
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