TIDMDAN
RNS Number : 4856K
Daniel Stewart Securities PLC
30 December 2015
For immediate release: 30 December 2015
Daniel Stewart Securities plc
("Daniel Stewart" or "the Company")
Unaudited Interim Results for the period ended 30 September
2015
Daniel Stewart Securities plc (AIM:DAN), the investment bank
providing corporate advisory, institutional stockbroking and wealth
management services, announces unaudited Interim Results for the
period ended 30 September 2015.
As previously announced the Company's shares remain suspended
from trading on the AIM market pending completion of the final
audit for the financial year ended 31 March 2015. Additionally, the
Company announced on 21 December 2015 that Beaumont Cornish Limited
has resigned as the Company's Nominated Adviser ("Nomad").
As the Company's shares remain suspended from trading on AIM and
in accordance with AIM Rule 1, if the Company fails to appoint a
replacement Nomad within one month of the date of the Nomad's
resignation, admission of the Company's shares to trading on AIM
will be cancelled. If no replacement Nomad can be found within the
given timeframe, the Board will explore options to either join
another market, and/or to put in place a matched bargain facility
to enable Shareholders to trade.
Unaudited Consolidated Statement of Comprehensive Income
Six months ended 30 September 2015
Six months Year ended Six months ended
ended
30 September 31 March 30 September
2015 2015 2014
Continuing operations
GBP GBP GBP
Revenue - Corporate finance
activities 976,831 3,831,813 2,287,327
Revenue - Share
trading 131,205 89,154 90,439
1,108,036 3,920,967 2,377,766
Cost of sales (788,105) (2442,408) (1,328,546)
Gross profit 319,931 1,478,559 1,049,220
Administrative costs (1,201,032) (2,878,235) (923,032)
Impairment of Goodwill - - (87,500)
Operating profit
/ (loss) (881,101) (1,399,676) 38,688
Net finance costs 1,222 20,469 (7,410)
Profit/(Loss) before
taxation (879,879) (1,399,676) 31,278
Taxation - -
Profit/(Loss) and
total comprehensive
expense for the
year (879,879) (1,399,676) 31,278
Earnings per share
Basic and diluted (0.10)p (0.19)p 0.006p
Unaudited Consolidated Statement of Financial Position
As at 30 September 2015
30 September 31 March 30 September
2015 2015 2014
GBP GBP GBP
Non current assets
Goodwill 1,410,535 1,410,535 1,322,955
Financial assets at fair - -
value through profit or
loss
Property, plant and equipment 312,183 61,023 71,461
Loans receivable 473,450 247,867 400,548
2,196,168 1,719,425 1,794,964
Current assets
Financial assets at fair
value through profit or
loss 56,912 12,249 1,997
Trade and other receivables 1,186,691 706,518 1,497,888
Cash and cash equivalents 367,278 624,005 501,339
1,610,881 1,342,772 2,001,224
Total assets 3,807,049 3,062,197 3,796,188
Current liabilities
Trade and other payables (1,223,065) (1,148,335) (2,120,506)
Corporation tax - - -
(1,223,065) (1,148,335) (2,120,506)
Net assets 2,583,982 1,913,862 1,675,682
Equity
Capital and reserves attributable to
equity shareholders :
Share capital 2,330,056 1,756,129 1,299,756
Share premium 11,190,024 9,788,951 9,570,342
Accumulated losses (18,257,937) (17,378,059) (18,567,946)
Capital redemption reserve 49,998 49,998 49,998
Capital reserve 8,524,435 8,524,435 11,166,914
Share compensation reserve 420,723 420,723 403,135
350,000 775,000 -
Employee benefit trust reserve (2,023,315) (2,023,315) (2,246,517)
2,583,984 1,913,862 1,675,682
Unaudited Consolidated Statement of Cash Flows
Six months Year ended 31 Six months
to 30 September March 2014 to 30 September
2014 2013
Operating activities GBP GBP GBP
Operating (loss) / profit (881,101) (1,399,676) 38,688
Provision for depreciation
of non-current assets 7,943 23.206 11,940
Share Based payment 17,588
Loss from disposal of non-current
assets 1,007 -
Bad debt write off 498,085
Provision for impairment of
goodwill - 87,500
(873,158) (859,790) 138,128
Movement in working capital
Decrease / increase in receivables (130,173) 31,691 (141,387)
(Decrease) / increase in payables 74,730 (303,181) (43,041)
Decrease in financial assets (44,663) 308,398 318,650
(100,106) 36,908 134,222
Operating cash flow (973,264) (822,882) 272,350
Investing activities
Expenditure on tangible non-current
assets (259,103) (10,681) 8,846
Lease deposit paid (225,583) -
Interest received 1,222 20,469 1,874
Cash flow from investing activities (483,463) 9,788 10,720
Financing
Equity 1,200,000 434,000 -
Loans repaid - 548 -
Non-redeemable convertible
bond - 775,000
Interest paid - (9,284)
Cash flow from financing activities 1,200,000 1,209,548 (9,284)
Cash and cash equivalents at
1 April 624,005 227,551 227,553
Cash and cash equivalents at
30 September 367,278 624,005 501,339
Increase/ (Decrease) in cash
and cash equivalents (256,727) 396,454 273,786
Enquiries:
DANIEL STEWART SECURITIES PLC
Tel: 020 7776 6550
Peter Shea
Daniel Stewart Securities is an AIM-quoted company providing a
range of investment banking services to Small and Mid-Cap publicly
traded and non-publicly traded companies. The Group has two trading
subsidiaries, Daniel Stewart & Company plc, the Group's
principal operating subsidiary, which is authorised and regulated
by the Financial Conduct Authority and is a member of the London
Stock Exchange, and Daniel Stewart Leasing Limited, the Group's
leasing and debt financing division.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR LLFSSFFLIVIE
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