30/09/09
HYPER ENTERTAINMENT PLC - INTERIM RESULTS
("Hyper" or the "Company")
MANAGING DIRECTORS STATEMENT
The Board of Hyper, a business focused on delivering viable strategic solutions
to its clients within the entertainment, retail, leisure and real estate
sectors, announces today its interim results for the six-month period ending 30
June 2009.
REVIEW OF BUSINESS
During the period under review the Company's turnover was GBP 76,341.08 (2008:
GBP 305,405). Gross profit decreased with the Company recording a Gross Profit
of GBP 12,945.80 (2008: 34,683).
Much of Hyper's work for the interim period has continued to be in the Middle
East working with real estate development companies in Saudi Arabia. It
continued its work with ZFP Development for their proposed project in Jeddah,
Saudi Arabia which led to another contract with the large developer MAF KSA.
The Company has been working to diversify its service offering by creating a
business development outsource service for smaller companies that do not have
that type of internal resource. This has led to three initial contracts which
are on small retainer and success fee basis.
OUTLOOK
The overall worldwide economic crises have impacted Hyper's business in the
early part of the year as all of its contracts finished in mid-Spring. The
Hyper management team is continuing its business development efforts and is
investigating new opportunities outside the traditional consultancy offerings
that could lead to the development of long-term sustainable turnover from the
operation and potential ownership of leisure and entertainment businesses.
PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30TH JUNE 2009
2009 Year
30th June Ended
Unaudited 2008
Audited
TURNOVER 76,341 544,992
Cost of Sales 63,395 290,678
--------- --------
GROSS PROFIT/(LOSS) 12,945 254,314
Administration Costs 55,734 235,209
--------- --------
OPERATING PROFIT/(LOSS) (42,788) 19,105
Interest Receivable and
similar income 0 800
Interest Payable and similar
charges 0 19,905
--------- --------
PROFIT/(LOSS) ON ORDINARY
ACTIVITIES BEFORE TAXATION (42,788) 19,905
Tax on Profits on Ordinary
Activities 0 0
--------- --------
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR AFTER
TAXATION (42,788) 19,905
======= =======
BALANCE SHEET FOR THE SIX MONTHS ENDED 30TH JUNE 2009
Year
30th Ended
June 2009 2008
Unaudited Audited
FIXED ASSETS
Tangible assets 789 789
CURRENT ASSETS
Debtors 3,324 137,021
Cash at bank and in hand 490 1,211
------- --------
3,814 138,232
CREDITORS
Amount Falling Due within
One Year 82,095 (117,154)
------- ---------
NET CURRENTASSETS/(LIABILITIES) (78,281) 21,078
TOTAL ASSETS LESS CURRENT
LIABILITIES (77,492) 21,867
CREDITORS
Amount Falling Due after
One Year 0 0
------- --------
TOTAL ASSETS LESS CURRENT
LIABILITIES (77,492) 21,867
------- --------
CAPITAL AND RESERVES
Called up share capital 66,568 66,568
Share Premium Account 205,541 205,541
Profit and loss account (42,788) (250,242)
Total 229,321 21,867
NOTES
1. The financial information for the period ended 30 June 2009 has not been
audited or reviewed by the Company's auditors and does not constitute statutory
accounts within the meaning of Section 434 of the Companies Act 2006.
The Directors of the issuer accept responsibility for this announcement.
---ENDS---
Enquiries:
HYPER ENTERTAINMENT PLC Tel: 020 7025 8077
Wendy Rosenthal
RIVINGTON STREET CORPORATE FINANCE Tel: 020 7562 3373
Eran Zucker
[email protected]
For further information about the Company: www.hyperentertainment.com