FOR IMMEDIATE RELEASE 23 December 2010
JUDICIUM PLC
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2010
Judicium plc is pleased to announce its interim, unaudited, results for the six
months ended 30 September 2010.
The principal activity of the Judicium plc group during the period, conducted
mainly through its wholly owned subsidiary Judicium Consulting Ltd, was the
provision of regulatory consultancy and training services to private and public
sector organisations in the areas of employment law, financial services, health
and safety and data protection.
The Directors are pleased to announce a significant increase in profits for the
first six months of the financial year. This is largely the result of organic
growth in our consultancy sector with a small contribution by our newly
launched subsidiary Porta Verde Financial Services Limited. The latter company
will operate as a regulatory umbrella enabling financial services firms to
trade as Appointed Representatives under the company's regulatory permissions,
rather than seek their own direct authorisation from the Financial Services
Authority.
The Directors expect the second half of the year to see a substantial increase
in operating costs for both trading subsidiaries in order to meet expected
organic growth over the coming year. This increase in costs will reduce second
half operating profits to around half of the first six months, giving a
projected annual profit before tax and exeptional items of around £300,000.
The board is not recommending the payment of a dividend in respect of the six
months ended 30 September 2010.
CONSOLIDATED PROFIT & LOSS
Six months Six months
ended ended
30-Sep-10 30-Sep-09
Unaudited Unaudited
Turnover 917,354 718,122
Cost of Sales (68,454) (72,406)
Gross Profit 848,900 645,716
Administrative Expenses - 656,938 -562,177
OPERATING PROFIT / (LOSS) 191,962 83,539
Investment Income 221 149
PROFIT / (LOSS) ON ORDINARY 192,183 83,688
ACTIVITIES BEFORE TAXATION 192,183 83,688
Taxation - -
PROFIT / (LOSS) ON ORDINARY
ACTIVITIES AFTER TAXATION 192,183 83,688
Earnings / (Loss) per Share 9.73p 4.24p
CONSOLIDATED BALANCE SHEET
Six months Six months
ended ended
30-Sep-10 30-Sep-09
Unaudited Unaudited
FIXED ASSETS
Tangible Assets 18,995 5,844
18,995 5,844
CURRENT ASSETS
Debtors 170,838 131,150
Cash in Hand and in Bank 854,279 509,672
Other Assets 221,985 42,570
1,247,102 683,392
CREDITORS
Amount falling due < one year -144,560 -207,492
-144,560 -207,492
NET CURRENT ASSETS 1,102,542 475,900
TOTAL ASSETS LESS CURRENT 1,121,537 481,744
LIABILITIES
NET ASSETS 1,121,537 481,744
CAPITAL AND RESERVES
Called up share capital 197,597 197,597
Merger reserve 923,940 284,147
SHAREHOLDERS' FUNDS 1,121,537 481,744
Contact: Leon de Costa, Chief Executive Officer on 020 7336 8403
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396
END