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Judicium Plc (JUD)

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Friday 02 December, 2011

Judicium Plc

Half-yearly Report


FOR IMMEDIATE RELEASE 2 December 2011

                                 JUDICIUM PLC                                  

     UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2011      

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 period, conducted
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, HR, financial services, health &
safety and data protection. In addition, the company's umbrella firm Porta
Verde Financial Services Ltd is now fully operational. The latter company
enables financial services firms to trade as Appointed Representatives using
the firm's regulatory permissions, thereby exempting the client firms from the
requirement to be directly authorised by the FSA.

The Directors are pleased to report that trading results are well above
expectations as set out in the Chairman's Statement for the year ended 31 March
2011. The company has enjoyed particularly strong growth in its employment law
support service and on the FSA regulatory side.

In terms of raw data the performance reflects:

  * A 43% increase in turnover against the six months ended 30 September 2010;
   
  * A 39% increase in pre-tax profits against the six months ended 30 September
    2010; and
   
  * A 20% profit margin.
   
As in previous years, the Directors anticipate that second half earnings will
fall substantially below those in the first half, as the increased costs from
end of year bonus calculations, increased headcount and this year additional
leasehold premises are accounted for.

The directors are currently exploring a number of options as to the future
development of the company. Among the options being considered is the launch of
a number of new support services that complement the company's current
offering, such as Payroll and HR Administration. Should such a course be
adopted, it will be financed internally from existing cash reserves.

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. No final decision
has been made on either option.

The Directors can also report that the liability to make a second payment for
the acquisition of UK Work Permits Ltd for the sum of £131,250 has been
discharged in full with a small discount of £2,250 for early payment.

The board is not recommending the payment of a dividend in respect of the six
months ended 30 September 2011.

                     CONSOLIDATED PROFIT & LOSS                      
                                                                     
                              Six months ended    Six months ended  
                                     30-Sep-11           30-Sep-10     
                                 Unaudited (£)       Unaudited (£)   
                                                                     
Turnover                             1,314,224             917,354            
                                                                     
Cost of Sales                        - 103,839            - 68,454           
                                                                     
                                                                     
                                                                     
Gross Profit                         1,210,385             848,900            
                                                                     
Administrative Expenses              - 943,751           - 656,938          
                                                                     
                                                                     
                                                                     
OPERATING PROFIT / (LOSS)              266,634             191,961            
                                                                     
Investment Income                        1,009                 221                
                                                                     
                                                                     
                                                                     
PROFIT / (LOSS) ON ORDINARY            267,643             192,183            
ACTIVITIES BEFORE TAXATION                                           
                                                                     
Taxation                              - 37,513                   0         
                                                                     
                                                                     
                                                                     
PROFIT / (LOSS) ON ORDINARY                                          
ACTIVITIES AFTER TAXATION              230,130             192,183            
                                                                     
Earnings / (Loss) per Share              11.75               9.73p



                        CONSOLIDATED BALANCE SHEET                        
                                                                          
                                    Six months ended Six months ended
                                           30-Sep-11        30-Sep-10    
                                       Unaudited (£)    Unaudited (£)  
                                                                          
FIXED ASSETS                                                              
                                                                          
Tangible Assets                               22,598           18,995     
                                                                          
                                                                          
                                                                          
                                              22,598           18,995     
                                                                          
CURRENT ASSETS                                                            
                                                                          
Debtors                                      213,154          170,838     
                                                                          
Cash in Hand and in Bank                     976,335          854,278     
                                                                          
Other Assets                                 579,639.         221,985     
                                                                          
                                                                          
                                                                          
                                           1,769,129        1,247,102    
                                                                          
CREDITORS                                                                 
                                                                          
Amount falling due < one year               -604,575         -144,559    
                                                                          
                                                                          
                                                                          
                                            -604,575         -144,559    
                                                                          
                                                                          
                                                                          
NET CURRENT ASSETS                         1,164,553        1,102,542    
                                                                          
TOTAL ASSETS LESS CURRENT LIABILITIES      1,187,151        1,121,537    
                                                                          
                                                                          
                                                                          
NET ASSETS                                 1,187,151        1,121,537    
                                                                          
CAPITAL AND RESERVES                                                      
                                                                          
Called up share capital                      197,597          197,597     
                                                                          
Merger reserve                               989,555          923,940     
                                                                          
                                                                          
                                                                          
SHAREHOLDERS' FUNDS                        1,187,152.       1,121,537    

Contact:

Leon de Costa, Chief Executive Officer on 020 7336 8403

Roland Cornish, Beaumont Cornish Limited on 020 7628 3396

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