Interim Results
29 September 2004 - 5:02PM
UK Regulatory
To be embargoed until 7.01am on
29 September 2004
Azure Holdings Plc (" Company")
Interim results for the six months ended 30 June 2004
Chairman's statement
In the six months ended 30 June 2004 the Company incurred a loss before and
after taxation of �229,000 (2003: �35,000).
The Company raised �195,000 by a placing of ordinary shares in December 2003.
The directors were asked to consider ways in which shareholders could
participate in future share issues and, as a result, on 9 February 2004 the
Company made an open offer to its shareholders of 12,422,500 ordinary shares,
of which 1,989,319 were taken up.
Expenditure in the period under review has consisted mainly of professional
fees.
The board continues to seek a suitable investment for the Company.
At the annual general meeting of the Company held on 27 September 2004, Ray
Harris was not re-elected as a director of the Company . As a result the board
is actively seeking a replacement.
Nicolas Greenstone
Chairman
29 September 2004
Azure Holdings plc
Profit and Loss Account
for the six months ended 30 June 2004
6 months 6 months Year ended
ended 30 ended 30 31 December
June 2004 June 2003 2003
(unaudited) (unaudited) (audited)
�'000 �'000 �'000
Administrative expenses (229) (35) (86)
Profit on sale of investments - - 10
Operating loss (229) (35) (76)
Loss on disposal of subsidiary - - (16)
undertakings
Loss on ordinary activities before (229) (35) (92)
taxation
Tax on loss on ordinary activities - - -
Loss on ordinary activities after (229) (35) (92)
taxation
Retained loss for the period (229) (35) (92)
Loss per ordinary share (0.65p) (0.03p) (2.54p)
Azure Holdings plc
Balance Sheet
as at 30 June 2004
30 June 30 June 31 December
2004 2003 2003
(unaudited) (unaudited) (audited)
�'000 �'000 �'000
Current assets
Investments - 133 -
Debtors 14 68 7
Cash at bank and in hand 10 1 119
24 202 126
Creditors: amounts falling due within (81) (378) (59)
one year
Net current (liabilities)/assets (57) (176) 67
Total assets less current liabilities (57) (176) 67
Net (liabilities)/assets (57) (176) 67
Capital and reserves
Called up share capital 5,371 5,004 5,304
Share premium 10,279 10,241 10,241
Profit and loss account (15,707) (15,421) (15,478)
Equity shareholders' funds (57) (176) 67
Azure Holdings plc
Cash Flow Statement
for the six months ended 30 June 2004
6 months ended 6 months ended
30 June 2004 30 June 2003
(unaudited) (unaudited)
�'000 �'000
Net cash outflow from operating (214) -
activities
Financing
Issue of ordinary shares 105 -
Decrease in cash (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 2003 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 2003.
3. The comparative figures for the unaudited interim results for the period
ended 30 June 2003 are stated as announced on 22 September 2003.
4. Loss per share
The earnings per share for the six months ended 30 June 2004 has been
calculated on the basis of the loss after taxation for the period of �229,000
(2003: �35,000 ) and the weighted average number of shares in issue during the
period of 35,417,565 (2003: 124,225,069). .
5. Copies of the interim results will be sent to all shareholders and will
also be available at the registered office of the Company, One Great
Cumberland Place, London W1H 7AL.
6. The directors do not propose to pay a dividend for the period.
END
Azure (LSE:AZH)
Historical Stock Chart
From May 2024 to Jun 2024
Azure (LSE:AZH)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Azure Hlgs (London Stock Exchange): 0 recent articles
More Azure Holdings Plc News Articles