Judicium Plc
Half-yearly Report
FOR IMMEDIATE RELEASE 18 October 2012
JUDICIUM PLC
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2012
Judicium plc is pleased to announce its interim, unaudited, results for the six
months ended 30 September 2011.
The principal activity of the Judicium Plc group during the six month period,
conducted entirely through its wholly owned subsidiaries, was the provision of
consultancy and training services to private and public sector organisations in
the areas of HR, employment law, health and safety, workplace immigration, data
protection, education law and financial services regulation.
REVIEW OF THE BUSINESS
The key financial highlights for the six months are as follows:
Six months ended 30 September 2012 2012 2011 2010
£ £ £
Turnover 1,497,189 1,314,224 917,354
Operating profit 233,345 266,634 191,961
Interest income 308 1,009 221
Profit on ordinary activities before 233,653 267,643 192,183
taxation
The interim results are in-line with Directors forecasts.
As reported at the financial year end the company has experienced an increase
in people and premises costs in anticipation of further growth.
The company has achieved an increase in organic growth of 14%, whereas pre-tax
earnings have reduced by 13% reflecting the increased cost base.
The company's presence within the education sector has continued to grow and
revenue derived from education clients now forms the larger part of the
company's income. The directors continue to explore a number of options as to
the future development of the company and its subsidiaries. Among the options
being considered is the launch of a number of new support services that
complement the company's current offering. An alternative option being
considered is the raising of sufficient investment as to enable the company to
execute a buy and build strategy by the acquisition of companies operating
within identical or similar sectors. A third option being considered is a
significant share buyback programme to be financed from cash resources. All
options currently remain open.
The directors do not recommend the payment of a half year dividend.
CONSOLIDATED INCOME STATEMENT
2012 2011
£ £
TURNOVER 1,497,189 1,314,224
COST OF SALES (154,623) (103,839)
GROSS PROFIT 1,342,566 1,210,385
Administrative expenses (1,109,221) (943,751)
OPERATING PROFIT 233,345 266,634
Interest receivable and similar income 308 1,009
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 233,653 267,643
Taxation (52,936) (37,513)
PROFIT FOR THE SIX MONTHS 180,717 230,130
Earnings per share 9.23p 11.75p
The operating profit for the year arises from the group's continuing
operations.
CONSOLIDATED BALANCE SHEET
Group Group
2012 2011
£ £
FIXED ASSETS
Intangible fixed assets 409,373 442,666
Tangible assets 30,061 22,598
Investments - -
439,434 465,264
CURRENT ASSETS
Debtors 391,490 350,128
Cash at bank and in hand 1,377,413 976,335
1,768,903 1,326,463
CREDITORS: Amounts falling (692,844) (579,575)
due within one year
NET CURRENT ASSETS/ 1,076,059 746,888
(LIABILITIES)
TOTAL ASSETS LESS CURRENT 1,515,493 1,212,152
LIABILITIES
PROVISIONS FOR LIABILITIES
Other provisions (45,000) (25,000)
NET ASSETS 1,470,493 1,187,152
CAPITAL AND RESERVES
Called up share capital 197,597 197,597
Profit and loss account 1,272,896 989,555
SHAREHOLDERS' FUNDS 1,470,493 1,187,152
Contact:
Leon de Costa, Chief Executive Officer on 020 7336 8403
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396