Interim Results
27 September 2005 - 11:09PM
UK Regulatory
Azure Holdings Plc (" Company")
Interim results for the six months ended 30 June 2005
Chairman's statement
In the six months ended 30 June 2005 the Company incurred a loss before and
after taxation of �74,000 (2004: �229,000).
Because of the lack of cash in the Company, creditors have increased but
continue to be supportive.
The directors are continuing to keep overheads to a minimum, the expenses being
those necessary to maintain the Company's listing on AIM.
The board continues to seek an acquisition for the Company.
Owing to a technicality, the Company no longer has any authority to issue any
of its share capital and will therefore be convening an extraordinary general
meeting for this purpose.
Nicolas Greenstone
Chairman
27 September 2005
Azure Holdings plc
Profit and Loss Account
for the six months ended 30 June 2005
6 months 6 months Year ended
ended 30 ended 30 31 December
June 2004 2004
June 2005
(unaudited) (audited)
(unaudited)
�'000 �'000
�'000
Turnover - - -
Administrative expenses (74) (229) (345)
Operating loss (74) (229) (345)
Loss on ordinary activities before (74) (229) (345)
taxation
Tax on loss on ordinary activities - - -
Loss on ordinary activities after (74) (229) (345)
taxation
Retained loss for the period (74) (229) (345)
Loss per ordinary share (0.15p) (0.65p) (0.86p)
The profit and loss account has been prepared on the basis that all operations
are continuing operations. All recognised gains or losses are dealt with
through the profit and loss account or statement of recognised gains and
losses.
Azure Holdings plc
Balance Sheet
as at 30 June 2005
30 June 2005 30 June 31 December
2004 2004
(unaudited)
(unaudited) (audited)
�'000
�'000 �'000
Current assets
Debtors 3 14 7
Cash at bank and in hand 1 10 14
4 24 21
Creditors: amounts falling due within one (147) (81) (90)
year
Net current liabilities (143) (57) (69)
Total assets less current liabilities (143) (57) (69)
Net liabilities (143) (57) (69)
Capital and reserves
Called up Share Capital 5,475 5,371 5,475
Share Premium 10,279 10,279 10,279
Profit and loss account (15,897) (15,707) (15,823)
Equity shareholders deficit (143) (57) (69)
Azure Holdings plc
Cash Flow Statement
for the six months ended 30 June 2005
6 months ended 6 months ended
30 June 2005 30 June 2004
(unaudited) (unaudited)
�'000 �'000
Net cash outflow from operating (13) (214)
activities
Financing
Issue of ordinary shares - 105
Decrease in cash (13) (109)
Azure Holdings plc
Notes to the Interim Results
1. The interim results are unaudited and do not constitute statutory accounts
within the meaning of section 240 of the Companies Act 1985. The figures
for the year ended 31 December 2004 have been extracted from the statutory
accounts filed with the registrar of companies on which the auditors gave
an unqualified report.
2. The interim results have been prepared using the accounting policies set
out in the statutory accounts for the year ended 31 December 2004.
3. The comparative figures for the unaudited interim results for the period
ended 30 June 2004 are stated as announced on 29 September 2004.
4. Loss per share
The earnings per share for the six months ended 30 June 2005 has been
calculated on the basis of the loss after taxation for the period of �74,000
(2004: �229,000 ) and the weighted average number of shares in issue during the
period of 48,317,569 (2004: 35,417,565).
5. The directors do not propose to pay a dividend for the period.
6. Copies of the interim results are available from the Company's registered
office, One Great Cumberland Place, London, W1H 7AL.
END
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