Information  X 
Enter a valid email address

Judicium Plc (JUD)

  Print   

Thursday 18 October, 2012

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

a d v e r t i s e m e n t