Three's A Crowd plc ("Three's A Crowd" or "The Company")
INTERIM FINANCIAL STATEMENT FOR THE SIX MONTHS TO 30 NOVEMBER 2007
AND TRADING UPDATE
Highlights:
* Company admitted to the PLUS-quoted market on 30 November 2007
* Maiden loss of £110,566 for the six months ended 30 November 2007
* Company's online lifestyle portal launched February 2008
I am delighted to present the maiden Interim results for Three's A Crowd plc
(PLUS: TACP) for the period ending 30 November 2007. The results do not reflect
the use of funds raised from Admission to the PLUS-quoted markets on 30
November 2007).
In this period, the Company successfully managed a Charity Gala for the Lowes
Syndrome Trust and the book launch of Tara Palmer-Tomkinson's book. The
reported loss is largely a result of development costs for www.3sacrowd.com,
the Company's recently launched online lifestyle portal.
Since Admission, the Company has set out to grow and develop its events
management business through its subsidiary, Three's A Crowd Events Limited, and
create the online lifestyle portal. Significantly, contracts post-Admission
include managing an event for Play.com Live for 15 and 16 March 2008. Among
other events planned, the Company intends to do four additional charity events
in the forthcoming year, each of which are currently being negotiated.
The lifestyle portal was successfully launched through the Company's subsidiary
Three's A Crowd Online Limited on 21 February 2007, and the Company is now
setting out to increase traffic to generate revenues through advertising and
affiliate sales. Since Admission Three's A Crowd Online has developed
own-content for the portal including "red carpet" interviews and video content
through a small in-house production facility.
Both the Board and the Management Team are excited by the prospects and
potential ahead for the balance of this trading year and going forward.
I would like to take this opportunity to thank all participants in the
Admission, and our shareholders and staff for their support to date.
Mark Emms
Chief Executive
THREE'S A CROWD PLC
Interim financial statements for the six months ended 30 November 2007.
Profit & Loss Account
Period ended 30
November 2007
£'000
Turnover 115
Cost of sales (69)
Gross profit 46
Administration costs (157)
Profit/(loss) on ordinary activities 111
before taxation
Other income: -
Bank interest receivable
Taxation -
Retained loss (111)
Basic profit/(loss) per share (0.4p)
Fully diluted profit/(loss) per share (0.3p)
THREE'S A CROWD PLC
Interim financial statements for the six months period ended 30 November 2007.
Balance Sheet as at 30 November 2007
30.11.2007
£'000
Fixed assets
Goodwill 74
Office equipment 4
Total fixed assets 78
Current assets
Sundry debtors 78
Cash at bank 326
Total Current Assets 404
Creditors: amounts falling due within one year (71)
Net Current Assets 333
Total Assets less Current Assets 412
Capital & Reserves
Share capital 353
Share premium 216
Profit & loss account (157)
Total Shareholders' Funds 412
THREE'S A CROWD PLC
Interim financial statements for the six months period ended 30 November 2007.
Notes
1. The Company was established on 11 May 2006 as Zeta Prospects Limited. On 22
August 2007 the name was changed to Three's A Crowd plc. The Company remained
dormant until 12 July 2007, when it acquired Three's A Crowd Events Limited, in
consideration of 20,000,000 new ordinary shares of 0.5p each in the Company. On
30 August 2007 the Company acquired Three's A Crowd Online Limited in
consideration of 2,400,000 new ordinary shares of 0.5p each in the Company
2. The financial information contained in this statement does not constitute
statutory accounts as defined in section 240 of the Companies Act 1985. These
statements, which are unaudited, have been prepared under the historical cost
convention. The financial information has not been reviewed by the Company's
auditor.
3. The basic loss per share is based on a loss of £110,556 and on 70,564,500 of
weighted average ordinary shares in issue during the six months to 30 November
2007. The calculation of diluted earnings per share assumes conversion of all
potentially dilutive ordinary shares, all of which arise from share warrants
and options.
4. Copies of the statement will be despatched to shareholders. A copy will
also be placed on the Company's website: www.3sacrowdcorporate.com. Copies
of this announcement are available from: Lion Capital Corporation Limited,
Third floor, Henry Thomas House, 5-11 Worship Street, London EC2A 2BH.
--ENDS--
The directors of the issuer accept responsibility for this announcement.
CONTACT DETAILS:
COMPANY:
Mark Emms Tel: 020 7242 6163
Three's A Crowd plc.
CORPORATE ADVISOR:
Monisha Varadan Tel: 020 7562 3389
Lion Capital Corporation Ltd.
Notes to Editors
Three's A Crowd plc (PLUS: TACP) is an event management and online lifestyle
company which floated on the PLUS-quote market in November 2007. The company
was created by London society girl Tara Palmer-Tomkinson and friends and is
currently managing events for charities. Most recently, the Company is
providing backstage VIP event production, artist booking/ liaison and
promotional services for a gaming event Play.com Live being held on 15 and 16
March 2008.