Interim Results
23 December 2003 - 2:34AM
UK Regulatory
RNS Number:5637T
Legendary Investments PLC
22 December 2003
Legendary Investments PLC
("Legendary" or the "Company")
Interim results for the six months ended 30 September 2003
Highlights
*Consolidation continues and costs reduced
*Treasury activities lead to net gains of #97,000
*Company returns small profit for the period
Commenting on the results, Shami Ahmed said "We continue to seek niche
investment opportunities. In the meantime, treasury activities combined with our
consolidation process have generated a profit for the period."
Chief Executive's Statement
Your Company continues to pursue its strategy of making niche investments in
companies that might benefit from your its hands-on approach to investments in
which the investee companies are assisted in certain areas. Several potential
new investments were reviewed in the last six months. None, however, was felt
sufficiently attractive to merit an investment from Legendary.
Through treasury management, Legendary realised net gains of #97,000. This
compares to net losses of #1,184,000 in the same period last year.
Legendary continued to pare back costs. Administrative expenses were only
#66,000 for the six month period, compared with #233,000 for the same period
last year.
Overall, Legendary made a net profit before tax of #32,000 for the six month
period, compared with a loss of #1,411,000 for the same period last year.
As the economic and market environment improves, your Company will continue to
review investment opportunities.
For further information:
Zafar Karim, Legendary Investments PLC 020 7887 1338
Sarah Wharry, Seymour Pierce 020 7107 8000
Profit & Loss Account
Six months Year ended Six months
ended 30/09/03 31/03/03 ended 30/09/02
unaudited audited unaudited
(#000's) (#000's) (#000's)
Turnover - - -
Direct Costs - - -
Gross Loss - - -
Administrative Expenses (66) (385) (233)
Net Profit / (Loss) 97 (1,826) (1,184)
Operating Profit / (Loss) 31 (2,211) (1,417)
Interest receivable 3 12 6
Interest payable (2) (2) -
---------- ---------- ----------
Profit / (Loss) on 32 (2,201) (1,411)
ordinary activities before
interest and tax
Tax - - -
---------- ---------- ----------
Retained Profit / (Loss) 32 (2,201) (1,411)
Basic Profit / (Loss) per 0.01 (0.41) (0.27)
ordinary share (pence per
share)
Fully diluted Profit / 0.01 (0.41) (0.20)
(Loss) (pence per share)
Balance Sheet
At 30/09/03 At 31/03/03 At 30/09/02
unaudited audited unaudited
(#000's) (#000's) (#000's)
Tangible fixed assets 1 3 4
Investments 2,092 2,489 4,627
---------- ---------- ----------
2,093 2,492 4,631
Current asset investments 4,787 376 1,375
Debtors 35 32 108
Cash at bank and in hand - - 127
---------- ---------- ----------
4,822 408 1,610
Creditors: amounts falling (4,752) (769) (3,320)
due within one year
---------- ---------- ----------
Net current (liabilities) / 70 (361) (1,710)
assets
---------- ---------- ----------
Total assets less current 2,163 2,131 2,921
liabilities
---------- ---------- ----------
Capital Reserves
Called up share capital 532 532 532
Share premium account 7,881 7,881 7,881
Profit and loss account - (6,250) (6,282) (5,492)
deficit
---------- ---------- ----------
2,163 2,131 2,921
---------- ---------- ----------
Notes to the Interim Accounts
1. Accounting Policies
The accounts have been prepared in accordance with applicable accounting
standards under the historical cost accounting rules.
2. Basis of Preparation of Interim Financial Information
The financial information contained in this interim statement has not been
audited or reviewed by the Company's Auditors and does not constitute
accounts as defined by section 240 of the Companies Act 1985. The financial
information for the year ended 31 March 2003 is based on the statutory
accounts for that year. Those accounts, upon which the Company's Auditors
issues an unqualified opinion, have been delivered to the Registrar of
Companies.
3. Earnings Per Share
The calculation of earnings per share is based on the profit after tax for
the financial period divided by the weighted average number of ordinary
shares in issue (532,067,000) during the period.
4. Post Balance Sheet Events
This interim report will be available on written application to the Company
Secretary, Legendary Investments PLC, 2nd Floor Berkelely Square House,
Berkeley Square, London W1A 6BD. This statement has not been subject to an
audit.
This information is provided by RNS
The company news service from the London Stock Exchange
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