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Crystalband PLC (FRME)

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Friday 30 June, 2006

Crystalband PLC

Interim Results

Crystalband PLC
30 June 2006


                                Interim Results

                      Six month period ended 31 March 2006

                             Chairman's Statement:


Following on from the year end results, the first half of the current fiscal
year has seen the completion of many of the restructuring programmes that were
initiated last year.

These changes, which focused on the diversification into the trade, new build,
and commercial markets, and the subsequent removal of low margin, high volume
non-profitable sectors of the industry, have had a positive impact on the result
for the interim period.

Turnover for the six months ended 31 March 2006 was £2,096,000, which reflects
an 89% increase on the same period last year. The increase in sales is a direct
result of the strategic changes made to the business in the last year.

Although, the losses on ordinary activities before taxation were £243,000, this
was a marked improvement on the same period for last year when losses amounted
to £631,000.

The diversification into the new markets in conjunction with the greater
operational efficiency achieved from our capital investment programme have set a
solid foundation for the second half of 2006. The directors believe that the
company has a  positive future going forward.


Gavin Johnson
Chairman




Crystalband PLC
Group Profit and Loss Account
Six Months ended 31 March 2006
                                                    Unaudited             Unaudited             Audited
                                                   6 months to           6 months to           12 months
                                                                                                  to
                                                   31 Mar '06            31 Mar '05           30 Sept '05
                                            Note         £'000                 £'000                £'000

Turnover                                                 2,096                 1,108                4,215

Cost of sales                                          (1,416)                 (800)              (3,770)

Gross Profit                                               680                   308                  445

Administrative expenses                                  (926)                 (945)              (1,841)
Other operating income                                      31                    47                   31

Operating Loss                                           (215)                 (590)              (1,365)

Exceptionals                                               (5)                  (68)                (119)
Disposal of fixed assets                                     0                    22                    0
Interest                                                  (23)                     5                   10

Loss on Ordinary Activities Before                       (243)                 (631)              (1,474)
Taxation

Tax on ordinary activities                                   0                     0                    0

Retained Loss                                            (243)                 (631)              (1,474)

Loss per share (pence)                       2.        (0.87)p               (3.87)p

Adjusted loss per share (pence)              2.        (0.59)p               (3.54)p              (7.13)p







Crystalband PLC
Group Balance Sheet
As at 31 March 2006
                                                                Unaudited              Unaudited            Audited
                                                                  As at                  As at               As at
                                                                31 Mar '06            31 Mar '05          30 Sept '05
                                                   Note           £'000     £'000     £'000     £'000     £'000    £'000

Fixed Assets
Intangible                                          3.                      2,975               3,166              3,055
Tangible                                            4.                        603                 507                319
                                                                            3,578               3,673              3,374
Current Assets
Stock                                                               181                 163                 291
Debtors                                             5.              810                 471                 935
Short term deposits                                               1,600               1,600               1,600
Cash at bank and in hand                                          (218)                  13                   5
                                                                  2,373               2,247               2,831

Creditors: Amounts Falling Due Within One Year      6.          (4,595)             (4,234)             (4,727)

Net Current Assets                                                        (2,222)             (1,987)            (1,896)

Total Assets Less Current Liabilities                                       1,356               1,686              1,478

Creditors: Amounts Falling Due After More Than      7.                      (165)                (12)               (44)
One Year

Net Assets                                                                  1,191               1,674              1,434

Capital and Reserves
Share capital                                                                 139                 112                139
Share premium                                                               2,769               2,193              2,769
Profit and loss account B/F                                               (1,473)                   0                  0
Profit and loss account Current Year                                        (244)               (631)            (1,474)

Shareholders Funds                                                          1,191               1,674              1,434




Crystalband PLC
Group Cash Flow Statement
Six Months ended 31 March 2006


                                                  Unaudited              Unaudited               Audited
                                                 6 months to            6 months to            12 months to
                                                  31 Mar '06             31 Mar '05            30 Sept '05

                                                  £'000      £'000      £'000       £'000      £'000       £'000

Net Cash (Outflow)/Inflow from Operating                       154                (1,643)                (2,459)
Activities

Returns on Investment and Servicing Finance
Interest received                                     0                     5                     68
Interest paid                                       (9)                     0                   (56)
Interest element of hire purchase                   (2)                   (1)                    (2)

Net Cash (Outflow)/Inflow from Returns on                     (11)                      4                     10
Investments

Capital Expenditure
Payments to acquire tangible fixed assets         (326)                  (78)                  (118)
Receipts from sale of fixed assets                    0                     0                    123

Net Cash Outflow from Capital Expenditure                    (326)                   (78)                      5

Acquisition
Cash acquired with subsidiary                         0                   186                    186

Net Cash Outflow from Acquisition                                0                    186                    186

Cash Outflow Before Financing                                (183)                (1,531)                (2,258)

Financing
Issue of equity share capital                         0                 2,672                  3,434
Expenses paid in connection with share                0                 (415)                  (461)
issue
Bonus issue                                           0                  (48)                   (64)
Consideration shares issued on acquisition            0                 (660)                  (660)
of subsidiary
Principal payment of hire purchase                 (11)                  (18)                    (6)

Net Cash (Outflow)/Inflow from Financing                      (11)                  1,531                  2,243

Increase/(Decrease) in Cash                                  (194)                      0                   (15)

Reconciliation of Operating Profit to Net Cash Outflow
from Operating Activities

Operating profit                                             (215)                  (590)                (1,484)
Exceptionals                                                   (5)                   (68)                      0
Depreciation                                                    42                     22                     31
Amortisation of goodwill                                        80                     54                    161
Loss on disposal of fixed asset                                  0                      0                    169
Stock (Inc)/Dec                                                110                  (132)                    (4)
Debtors (Inc)/Dec                                              125                (1,065)                (1,941)
Creditors Inc/(Dec)                                             17                    136                    610

Net Cash (Outflow)/Inflow from Operating                       154                (1,643)                (2,458)
Activities



Crystalband PLC
Notes to the Interim Financial Statements
Six Months ended 31 March 2006


 1.  The unaudited results for the six month period have been prepared on a basis consistent with the
     accounting policies of the Group and do not constitute statutory accounts within the meaning
     of section 240 of the Companies Act 1985.


 2.  The calculation of the basic loss per share for the period is based on the profit after taxation
     divided by the average number of ordinary shares in issue, being 27,886,400. The calculation of the
     Adjusted loss per share for the period is based on the profit after taxation excluding goodwill
     amortization divided by the average number of ordinary shares in issue, being 27,886,400.



 3.  Intangible Fixed Assets
                                                                                 Goodwill
                                                                                    £'000

                     Net Book Value B/F                                             3,055

                     Addition                                                           0

                     Amortisation                                                    (80)

                     Current Net Book Value                                         2,975



 4.  Tangible Fixed Assets
                                                                      Plant and Machinery
                                                                                    £'000

                     Net Book Value B/F                                               319

                     Additions                                                        326

                     Depreciation                                                    (42)

                     Current Net Book Value                                           603



 5.  Debtors
                                                                                    £'000

                     Trade debtors                                                    737
                     Other debtors                                                     73

                                                                                      810


 6.  Creditors: Amounts Falling Due Within One Year
                                                                                    £'000

                     Trade creditors                                                (618)
                     Other taxation and social                                      (222)
                     security
                     HP creditors                                                    (90)
                     Loan notes                                                   (3,200)
                     External loans                                                 (357)
                     Other creditors                                                (108)

                                                                                  (4,595)

 7.  Creditors: Amounts Falling Due After More Than One Year
                                                                                    £'000

                     HP creditors                                                   (165)

                                                                                    (165)





                      This information is provided by RNS
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