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(CSC.L) cScape Group PLC Buy/Sell
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Summary
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| Date/Time | Headline | Source |
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| 22-02-10 | RNS |
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RNS Number : 5036H cScape Group PLC 22 February 2010 cScape Group plc ("the Company") Holding in Company cScape Group plc (AIM:CSC) announces that it was notified on 19 February 2010 that, as at that date, Mr W B Heden held 370,000 ordinary shares in the Company ("Ordinary Shares") representing 3.27 per cent. of the Company's issued share capital. Further, the Company was notified on 22 February 2010 that, as at that date, James Andrews, a former director of the Company, continues to hold 341,077 Ordinary Shares representing 3.02 per cent. of the Company's issued share capital. 22 February 2010 For further information, please contact:
Azhic Basirov / Siobhan Sergeant This information is provided by RNS The company news service from the London Stock Exchange END
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| 18-12-09 | RNS |
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RNS Number : 4032E cScape Group PLC 18 December 2009 Cscape Group plc ("the Company") Distribution of Annual Report and Accounts Cscape Group plc (AIM:CSC) announces that copies of the annual report and accounts for the year ended 30 June 2009 have now been posted to shareholders and will be available on the Company's website, www.cscapegroup.com. 18 December 2009 For further information, please contact:
Azhic Basirov / Siobhan Sergeant This information is provided by RNS The company news service from the London Stock Exchange END
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| 10-12-09 | RNS |
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RNS Number : 9132D cScape Group PLC 10 December 2009 cScape Group plc ("cScape" or "the Company") Result of AGM cScape Group plc (AIM:CSC) announces that all resolutions were duly passed at the Company's annual general meeting held earlier today. These resolutions are set out below:
10 December 2009 For further information, please contact:
Azhic Basirov / Siobhan Sergeant This information is provided by RNS The company news service from the London Stock Exchange END
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| 26-11-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 1281D
cScape Group PLC
26 November 2009
26 November 2009
cScape Group plc
Preliminary results for the year ended 30 June 2009
cScape Group plc ('cScape Group' or 'the Group'), the digital communications business, today announces its preliminary unaudited results for the year ended 30 June 2009.
Enquiries, please contact:
Geoffrey Griggs
cScape Group plc
Tel: 020 7689 8800
Azhic Basirov / Siobhan Sergeant
Smith & Williamson Corporate Finance Limited
Tel: 020 7131 4000
CHAIRMAN'S STATEMENT
Introduction
We consider that the Group has made good progress in the year to 30 June 2009.
Financial and operational review
Group turnover was £6.7m (2008: £7.4m).
The operating result of the Group can be analysed as set out below (£k):
2009 2008
IT Subgroup
H1Operating (138) (211)
H2 Operating 166 (252)
(132) 36
Publishing and digital communication services segment
Restructuring costs (172) -
Goodwill impairment - (1,026)
Profit before interest and tax (276) (1,453)
The loss per share was 2.85p compared with 17.9p in 2008.
Although a loss was recorded for the year as a whole, this included significant restructuring costs and trading losses of the Publishing and digital communication services segment, the two main trading companies of which have now been disposed of as mentioned below. We have achieved a significant reduction in our overhead costs during the year and our trading performance in the ongoing IT businesses in the second half has been satisfactory, achieving an operating profit of £166k (2008: Loss of £252k).
The Group has been using the recession as a breathing space to reorganise and refocus the business in preparation for taking full advantage of the upturn as and when it occurs. Whilst we saw significant shrinkage of new business opportunities, our work with our core of long established clients continued to hold up.
The good quality management of cScape (whose name we chose for the Group) has enabled it to trade strongly, delivering growth from its existing high quality clients.
Blue Sky Hosting Limited also had a good year and withstood recessionary pressures well. The company has begun to take fuller advantage of the synergies available within the Group, particularly around the relationship with Microsoft.
The operations of Fernhart New Media have been integrated more closely into those of cScape Strategic Internet Services Limited during the year.
As part of the overall rationalisation of the Group the decision was taken to dispose of ITM Grpahics Limited and ITM Publishing Services Limited to management after the year end for a consideration of up to £150k.
Outlook
We consider that the Group is now well positioned to take advantage of the expected economic upturn.
Keith Young 26 November 2009
Chairman
UNAUDITED GROUP PROFIT & LOSS ACCOUNT
Year ended 30 June 2009
2009 2008
Note £000 £000
Total Total
TURNOVER 6,689 7,433
Cost of sales (1,654) (2,114)
GROSS PROFIT 5,035 5,319
Administrative expenses before exceptional item (5,311) (5,746)
Exceptional item - (1,026)
Administrative expenses (5,311) (6,772)
OPERATING LOSS (276) (1,453)
Non-operating exceptional items
Discontinuance of business and settlement of
pension liabilities in respect thereof - 75
Interest payable and similar charges (45) (104)
Interest receivable and similar income 2 24
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION
(319) (1,458)
Tax on loss on ordinary activities - -
LOSS FOR THE FINANCIAL YEAR (319) (1,458)
BASIC LOSS PER SHARE (PENCE) 3 (2.85)p (17.90)p
DILUTED LOSS PER SHARE (PENCE) 3 (2.85)p (17.90)p
All turnover and results arose from continuing operations apart from the non-operating exceptional items which relate to the closure of discontinued operations.
No separate statement of Total Recognised Gains and Losses has been presented as all such gains and losses have been dealt with in the profit and loss account.
UNAUDITED GROUP BALANCE SHEET
As at 30 June 2009
2009 2008
Note £000 £000 £000 £000
FIXED ASSETS
Intangible assets 1,252 1,252
Tangible assets 516 631
1,768 1,883
CURRENT ASSETS
Stocks 73 77
Debtors 1,248 1,498
Cash at bank 633 409
1,954 1,984
CREDITORS: amounts falling due
within one year (2,943) (2,615)
NET CURRENT LIABILITIES (989) (631)
TOTAL ASSETS LESS CURRENT LIABILITIES
779 1,252
CREDITORS: amounts falling due
after more than one year (330) (494)
NET ASSETS 449 758
CAPITAL AND RESERVES
Called up share capital 1,131 1,106
Share premium 499 514
Capital redemption reserve 6 6
Profit and loss account (1,187) (868)
EQUITY SHAREHOLDERS' FUNDS 449 758
UNAUDITED GROUP CASHFLOW STATEMENT
Year ended 30 June 2009
Note 2009 2008
£000 £000
Net cash inflow/(outflow) from operating 4 379 (13)
activities
Returns on investments and servicing of finance (43) (80)
Capital expenditure (117) (341)
Acquisitions - -
Net cash inflow/(outflow) before financing 219 (434)
Financing (144) 577
Increase/(decrease) in cash in the year 75 143
Reconciliation of net cash flow to movement in
net funds
Increase/(decrease) in cash in the year 5 75 143
Decrease/(increase) in debt and lease financing 154 (112)
Movement in net funds in the year 229 31
Net (debt)/funds at start of year (247) (278)
Net debt at end of year 5 (18) (247)
Notes:
1. FINANCIAL INFORMATION
The unaudited financial information set out above does not constitute statutory accounts within the meaning of sections 434 and 435 of the Companies Act 2006. Statutory accounts for the year ended 30 June 2009 will be finalised based on the information in this preliminary announcement and will be delivered to the Registrar of Companies in due course. The accounts for the year ended 30 June 2008 which received an unqualified auditor's report, have been filed with the Registrar of Companies.
2. SEGMENTAL INFORMATION
The Group operates in the UK and the whole of its turnover is in the UK market.
Turnover Operating Profit/(Loss)
2009 2008 2009 2008
£000 £000 £000 £000
Internet services 3,920 4,148 239 40
Publishing and digital 1,552 1,901 (132) 36
communication services
Specialist hosting 831 842 142 190
Media and interactive 386 542 (9) (87)
technology
Central and other costs/net - - (516) (606)
assets
Impairment of goodwill - - - (1,026)
______ ______ ______ ______
Group 6,689 7,433 (276) (1,453)
Profit/(Loss) before tax Net assets/(liabilities)
2009 2008 2009 2008
£000 £000 £000 £000
Internet services 241 47 1,607 1,152
Publishing and digital (151) 11 (259) 118
communication services
Specialist hosting 141 186 970 701
Media and interactive (10) (90) (154) 436
technology
Central and other costs/net (540) (661) (1,715) (623)
assets
Exceptional items - 75 - -
Impairment of goodwill - (1,026) - (1,026)
______ ______ ______ ______
Group (319) (1,458) 449 758
Included in Central and other costs is an amount of £172k relating to restructuring costs.
3. LOSS PER ORDINARY SHARE
Basic loss per share is calculated by dividing the loss attributable to ordinary shareholders by the weighted average number of ordinary shares during the year.
The diluted loss per share is the same as the actual loss per share. Due to the loss incurred in the year, there is no dilution effect from the issued share options.
2009 2008
Basic earnings attributable to ordinary (319) (1,458)
shareholders: £000
Weighted average number of ordinary shares 11,190,376 8,144,902
Loss per share: (2.85)p (17.90)p
4. RECONCILIATION OF OPERATING LOSS TO NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES
2009 2008
£000 £000
Operating loss (276) (1,453)
Impairment provision - 1,026
Depreciation 232 218
Profit / (Loss) on disposal of tangible fixed assets - (1)
Other provision (100) 400
(Increase)/decrease in stocks 4 (2)
Increase in debtors 252 10
Increase/(decrease) in creditors 267 (211)
Net cash inflow/(outflow) from operating activities 379 (13)
5. ANALYSIS OF CHANGES IN NET DEBT
At 1 July 2008 Cash flow At 30 June 2009
Net cash: £000 £000 £000
Cash at bank 409 224 633
Bank overdrafts (200) (149) (349)
209 75 284
Debt:
Bank loans (including invoice (226) 41 (185)
discounting)
Hire purchase obligations (230) 113 (117)
Total (247) 229 (18)
6. ACCOUNTING FOR GOODWILL
The board has assessed each subsidiary with reference to its durability, ability to sustain future long term profitability and assessed ability to maintain market position. Based on this assessment the board is of the opinion that the goodwill elements have indefinite economic lives. The board has carried out impairment reviews on these goodwill elements and has concluded that there is no provision required for the current year (2008: £1,026,000)
7. POST BALANCE SHEET EVENT
On 23 November 2009, the Company disposed of its wholly owned subsidiaries, ITM Graphics Ltd and ITM Publishing Services Ltd for a maximum cash consideration of £150,000.
For the year ended 30 June 2009, ITM Graphics Limited made a profit before tax of £5,802 on turnover of £1,910,708. As at 30 June 2009, ITM Graphics Limited had net assets of £145,522. For the year ended 30 June 2009, ITM Publishing Services Limited made a loss before tax of £61,032 on turnover of £1,150,511. As at 30 June 2009, ITM Publishing Services Limited had net liabilities of £61,031.
8. COPIES OF PRELIMINARY STATEMENT
Copies of this announcement are available on the Company's website www.cscapegroup.com or from the company secretary at 4 Pear Tree Court, Clerkenwell, London, EC1R 0DS. Copies of the Annual Report and Accounts of the Company for the year ended 30 June 2009 will be sent to shareholders in due course.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR EANFKASNNFEE
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| 14-01-10 | ||||
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Any information out there as to share movement recently....bought in during .com boom so miles away from getting interested. Although could buy a few and reduce my average purchase price
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| 23-09-09 | ||||
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Looking like a good recovery play, very low market cap and a bit of market realisation has moved it, so few shares in free float that the sp moves very well on very little volume. After such a dramatic rise over the last 3days i would imagine there will be a slight retrace now. GL
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| 23-09-09 | ||||
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I've had these shares for years and just about given up on them. Anyone any idea what's going on this week? Why the increase on such small volumes?
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| 22-09-09 |
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Although the Group accounts show net current liabilities, the directors are of the view that a going concern basis
is appropriate which is based on cash flow forecasts for the period up to 31 December 2009 and which take account, inter alia, of the following factors: - The group would have achieved a small profit in 2008 had it not been for a settlement claim, which has been fully provided in the accounts to 30 June 2008 together with applicable legal fees. - The group has traded profitably in the last financial quarter to 30 June 2008 and based on the forecasts for the next 12 months from the date of this report the board of directors are of the view that the group will generate positive cash flows. In view of the net positive cash flows expected to be generated by the above actions, inter alia, during the course of the next 12 months from the date of approval of the financial statements, the directors believe that the group will be able to meet its liabilities as they fall due and that, therefore, the going concern basis is appropriate. |
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The contents of the postings summarised here represents the opinions of the authors and not of Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.
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