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(HTT.L) Hot Tuna (International) PLC Buy/Sell
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Summary
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| Date/Time | Headline | Source |
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| 18-01-10 | RNS |
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RNS Number : 7091F Hot Tuna (International) plc 18 January 2010 18 January 2010 Hot Tuna (International) PLC ("Hot Tuna", "the Company" or "the Group") Results of AGM Hot Tuna (International) Plc (AIM:HTT), a leading surf wear and fashion brand, announces that at the Company's Annual General Meeting held today, all of the resolutions proposed to shareholders were duly passed. Contact:
Enquiries:
Hot Tuna PLC
Pelham PR
Seymour Pierce Limited
This information is provided by RNS The company news service from the London Stock Exchange END
RAGSFUFFAFSSEDF More |
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| 18-01-10 | RNS |
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RNS Number : 7091F Hot Tuna (International) plc 18 January 2010 18 January 2010 Hot Tuna (International) PLC ("Hot Tuna", "the Company" or "the Group") Results of AGM Hot Tuna (International) Plc (AIM:HTT), a leading surf wear and fashion brand, announces that at the Company's Annual General Meeting held today, all of the resolutions proposed to shareholders were duly passed. Contact:
Enquiries:
Hot Tuna PLC
Pelham PR
Seymour Pierce Limited
This information is provided by RNS The company news service from the London Stock Exchange END
RAGSFUFFAFSSEDF More |
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| 22-12-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 5172E
Hot Tuna (International) plc
22 December 2009
22 December 2009
Hot Tuna (International PLC
("Hot Tuna" or "the Group")
Final Results for the year ended 30 June 2009
Hot Tuna (International) PLC (AIM: HTT), a leading surf wear and fashion brand, announces its final results for the year ended 30 June 2009. The Accounts and Notice of AGM have been posted to shareholders. Copies may be obtained during normal office hours from the Company's registered office, Level 5, 22 Arlington Street, London, SW1A 1RD or from the company's website: www.hottunaplc.com.
The Annual General Meeting will take place on 18 January 2010 at 11.00 am at Level 5, 22 Arlington Street, London SW1A 1RD
Highlights
* Revenue increase 1.6% to £1,144,000 (2008: £1,126,000)
* Gross profit of £248,000 (2008: loss £27,000)
* Raised £860,000 during the year by issuing 283 million new shares
* UK & EU sales up 33% on last year
* Strong growth of the children's range in Australia
* Children's range to be rolled out into the UK & Europe in 2010
* Interest from new markets which may result in new distributor agreements
* Geoff O' Connell appointed to the board in May 2009
Commenting on the results, Geoff O'Connell, CEO, said "Although over the past year the retail trading environment was challenging, we have worked hard to simplify the corporate structure and reduce our
operating costs. This has resulted in a more streamlined and higher margin business.
We are excited about the new collection, which has seen a real return to the heritage of the brand, and strong focus on the iconic piranha logo. The range has been well received by customers in all regions, particularly the southern hemisphere, and we are confident that the combination of delivering the right product, to the right buyers across all our territories will continue to deliver solid revenue growth.
We are positive about the outlook for 2010 and go forward confidently."
Enquiries:
Hot Tuna PLC
Geoff O'Connell, CEO Tel: 020 7016 7862
Pelham PR
Kate Catchpole/ Lucy Frankland Tel: 020 7337 1520
Seymour Pierce Limited
Mark Percy / Christopher Wren Tel: 020 7107 8000
OPERATIONS AND FINANCE REVIEW
Overview
This report covers the company's trading results for the year ending 30 June 2009. These results should be read in the context in which they are set, with significant board and operational changes occurring during the year. As a Board we are delighted with the progress to date, and wish to thank all our staff for their continued efforts to deliver the right product, at the right time to the right market.
The fundamentals of this business are far stronger than they were twelve months ago, referring not only to the income statement, but also to the new and exciting designs which are being widely praised in all product sectors, across all geographies. Despite the challenges of a recession, I believe that we start 2010 much stronger as a business. We have reduced overheads, including a Board restructuring and increased gross profits. We are currently enjoying a satisfactory level of sales and are building up a very promising pipeline through both our existing and new distribution partners.
Financial
The company faced a challenging year in which access to capital to fund our production was restricted. This has impacted turnover for the year ended June 30 2009 which was £1.144m (2008: £1.126m).
Given the limited access to capital, the Group embarked on a cost cutting programme focusing on reducing cost of sales and general and administrative expenses. As a result the Group is able to report a gross profit of £248,000 (2008: loss £27,000) and a 56 per cent reduction in the Group's operating loss for the year currently at £1.337m (2008: loss of £3.072m).
The Group's loss after tax for the year was £ 2.267 million (2008: loss of £5.770 million) which is mainly attributable to the £0.889 million amortisation of intangible assets (2008: £2.588 million). We would like to welcome new institutional shareholders and thank both them, and existing shareholders, for their support.
During the year a total of 283 million shares were issued at an average weighted price of 0.3 pence per share totalling £0.86 million. The funds were utilised to develop current product offering, further penetrate our existing markets, and for general working capital purposes.
Operational
The company has undergone significant corporate restructuring in the past year in order to reduce operating costs and simplify the structure; this has resulted in a much leaner and higher margin business.
UK & EU
The UK & EU market showed a strong growth in turnover this year, up 33 per cent. This was due to the take up of several ranges by department stores in UK and Germany. The men's and women's ranges showed the greatest growth in these regions.
Australia
Australia suffered an overall dip in revenue of 3.6 per cent, as a result of withdrawing the women's swim range due to capital constraints. The children's range continued to show strong growth in national retailers and showed an increase in independent stockists.
US
The US market has showed a small increase in sales of 7.1 per cent. This was driven by the success of the women's swim range. We were able to lower the cost of local manufacturing increasing our gross profit above our targets. As in Australia capital constraints prevented us from delivering the growth in sales we envisaged.
Outlook
The business has undergone significant restructuring and this has helped the company dramatically reduce its costs and resulted in a more streamlined and efficiently run business. In the following year we aim to either maintain or further reduce this cost base.
By reducing the range to the core products of men's board shorts and t-shirts, women's swimwear, fashion tops and bottoms, and refocusing the designs back to the heritage of the brand and the iconic Piranha logo, we have produced the strongest range in years. The core ranges will be an 80/20 range, where by 80 per cent of the range will be global and 20 per cent can be 're-worked' for the local market. A new tiered pricing structure is more appealing to a broader market enabling greater market penetration than before.
The new collections have had a strong up take for the coming season, across all regions with new national retailers and e-tailers taking the product for the first time. In particular if the programme of rolling out the men's range into the brands home market of Australia is successful, we will see a significant uplift in revenues. The reintroduction of the profitable swim range, absent from the Australian market last year, will also boost revenues. The European market will see the introduction of the children's range with the additional capital to support growth in new European sectors. We have also seen interest from new regions where the company is currently not trading; these areas will be explored and could result in possible license or distributor agreements being reached.
On behalf of the Board of Directors, we would like to thank all employees for their tremendous efforts over the past year, and the work they have undertaken in our journey to restore Hot Tuna to its rightful place.
Geoff O'Connell
Chief Executive Officer
22 December 2009
CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2009
NOTES Year ended Year ended
30/06/09 30/06/08
£000's £000's
Revenue 1 1,144 1,126
Cost of sales (896) (1,153)
Gross profit/(loss) 248 (27)
Selling and marketing expenses (138) (452)
General and administrative expenses (1,388) (2,642)
Depreciation 12 (64) (58)
Loss from operations before exceptional 3 (1,342) (3,179)
items
Impairment of intangible assets 10,11 (889) (2,588)
Investment income 5 1 41
Loss on disposal of property, plant and 3 (14) (4)
equipment
Finance costs 6 (23) (38)
Loss before tax (2,267) (5,770)
Tax 7 - -
Loss after tax (2,267) (5,770)
Loss for the year (2,267) (5,770)
Attributable to:
Equity holders (2,267) (5,770)
Minority interest - -
(2,267) (5,770)
Loss per share
Basic and diluted 9 (1.18) pence (6.47) pence
The Company's loss for the year ended 30 June 2009 was £1.34 million (2008: £9.91 million loss). The Company is exempt from publishing its own income statement under section 408 of the Companies Act 2006.
CONSOLIDATED AND COMPANY BALANCE SHEET AS AT 30 JUNE 2009
NOTES 2009 2009 2008 2008
Group Company Group Company
£000's £000's £000's £000's
ASSETS
Non-current assets
Goodwill 10 - - 207 -
Other intangible assets 11 495 495 2,650 495
Property, plant and equipment 12 57 - 119 9
Investments 13 - 3 - 1,968
552 498 2,976 2,472
Current assets
Inventories 15 281 - 331 -
Trade and other receivables 16 380 118 426 23
Cash and cash equivalents 29 16 - -
690 134 757 23
Total assets 1,242 632 3,733 2,495
LIABILITIES
Current liabilities
Borrowings 14 - - 35 90
Trade and other payables 17 1,060 429 557 215
Convertible loan note 18 169 169 184 184
1,229 598 776 489
Non-current liabilities - - - -
- - - -
TOTAL LIABILITIES 1,229 598 776 489
Net assets 13 34 2,957 2,006
EQUITY
Share capital 20 28 28 1,533 1,533
Deferred share capital 20 1,795 1,795 - -
Share premium reserve 10,240 10,240 9,619 9,619
Share-based payment reserve 2,308 2,308 2,308 2,308
Merger reserve - - 1,474 1,474
Warrant reserve 238 238 295 295
Foreign exchange reserve 6 - 63 -
Retained loss (14,602) (14,575) (12,335) (13,223)
Equity attributable to equity 13 34 2,957 2,006
holders of the parent
Minority interest - - - -
Total equity 13 34 2,957 2,006
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2009
Share Deferred Share Share premium Share-based payment Foreign Exchange Merger Warrant Retained loss Total Minority Total
capital Capital account reserve Reserve reserves reserve interest equity
CONSOLIDATED
£000's £000's £000's £000's £000's £000's £000's £000's £000's £000's £000's
Balance at 1 July 2008 1,533 - 9,619 2,308 63 1,474 295 (12,335) 2,957 - 2,957
Loss for the year - - - - - - - (2,267) (2,267) - (2,267)
Exchange differences arising - - - - (57) - - - (57) - (57)
on translation of overseas
operations
Total recognised income and - - - - (57) - - (2,267) (2,324) - (2,324)
expense for 2009
Share capital issued 290 - 573 - - - - - 863 - 863
Reorganisation of share (1,795) 1,795 - - - - - - - - -
capital
Costs of share issue and - - (9) - - - - - (9) - (9)
conversion
Write - off of Intangibles - - - - - (1,474) - - (1,474) - (1,474)
Warrants expired - - 42 - - - (42) - - - -
Warrants exercised - - 15 - - - (15) - - - -
Balance at 30 June 2009 28 1,795 10,240 2,308 6 - 238 (14,602) 13 - 13
COMPANY
Balance at 1 July 2008 1,533 - 9,619 2,308 - 1,474 295 (13,223) 2,006
Loss for the year - - - - - - - (1,352) (1,352)
Total recognised income and - - - - - - - (1,352) (1,352)
expense for 2009
Share capital issued 290 - 573 - - - - - 863
Reorganisation of share (1,795) 1,795 - - - - - - -
capital
Costs of share issue and - - (9) - - - - - (9)
conversion
Write-off of Investments - - - - - (1,474) - - (1,474)
Warrants expired - - 42 - - (42) - -
Warrants exercised - - 15 - - - (15) - -
Balance at 30 June 2009 28 1,795 10,240 2,308 - - 238 (14,575) 34
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2008
Share capital Deferred Share Share premium Share-based payment Foreign Exchange Merger Warrant reserve Retained loss Total Minority interest Total equity
Capital account reserve Reserve reserves
CONSOLIDATED
£000's £000's £000's £000's £000's £000's £000's £000's £000's £000's £000's
Balance at 1 July 2007 774 - 9,611 2,267 54 1,474 800 (7,309) 7,671 - 7,671
Loss for the year - - - - - - - (5,770) (5,770) - (5,770)
Exchange differences arising - - - - 9 - - - 9 - 10
on translation of overseas
operations
Total recognised income and - - - - 9 - - (5,770) (5,761) - (5,760)
expense for 2008
Loan conversion and share 759 - 306 - - - - - 1,065 - 1,065
issue
Costs of share issue and - - (60) - - - - - (60) - (60)
conversion
Warrants subscribed - - (239) - - - 239 - - - -
Warrants expired - - - - - - (744) 744 - - -
Employee share option scheme - - - 41 - - - - 41 - 41
Balance at 30 June 2008 1,533 - 9,619 2,308 63 1,474 295 (12,335) 2,957 - 2,957
COMPANY
Balance at 1 July 2007 774 - 9,611 2,267 - 1,474 800 (4,055) 10,872
Loss for the year - - - - - - - (9,912) (9,912)
Total recognised income and - - - - - - - (9,912) (9,912)
expense for 2008
Loan conversion and share 759 - 306 - - - - - 1,065
issue
Costs of share issue and - - (60) - - - - - (60)
conversion
Warrants Subscribed - - (239) - - - 239 - -
Warrants expired - - - - - - (744) 744 -
Employee share option scheme - - - 41 - - - - 41
Balance at 30 June 2008 1,533 - 9,619 2,308 - 1,474 295 (13,223) 2,006
CONSOLIDATED AND COMPANY CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2009
Group Company Group Company
2009 2009 2008 2008
£000's £000's £000's £000's
(2,267) (1,352) (3,181) (7,324)
Operating loss
Investment income (1) (1) (41) (39)
Finance costs 23 20 39 38
Depreciation 64 2 57 5
Share based payment - - 41 41
Impairment 888 491 - -
Foreign exchange loss (73) 2 9 -
Loss on disposal 14 6 4 3
Operating cash flows before movements (1,352) (832) (3,072) (7,276)
in working capital
Decrease/(increase) in inventories 50 - 68 -
Decrease/(increase) in receivables 46 (95) 98 4,387
Increase in payables 503 199 60 48
NET CASH FROM OPERATING ACTIVITIES (753) (728) (2,846) (2,841)
Investment income 1 1 41 39
Finance costs (23) (20) (38) (38)
Net cash flow from operating (22) (19) (2,843) (2,840)
activities
Cash flow from investing activities
Purchase of property, plant and - - (56) (1)
development
Net cash flow from investing - - (56) (1)
activities
Cash flow from financing activities
Net proceeds from issue of share 853 853 1,005 1,005
capital
Repayment of convertible loan notes - - (33) (33)
Net cash from financing activities 853 853 972 972
Net cash inflow 78 106 (1,927) (1,869)
Foreign exchange differences on (14) - - -
translation
Cash and cash equivalents at start of (35) (90) 1,892 1,779
period
Cash and cash equivalents at the end 29 16 (35) (90)
of the period
The above financial information comprises non-statutory accounts within the meaning of section 240 of the Companies Act 1985. The financial information for the year ended 30 June 2009 has been extracted from published accounts for the year ended June 2009 that have been delivered to the Registrar of Companies and on which the report of the auditors was unqualified and did not contain statements under s237 (2) or (3) of the Companies Act 1985.
For full notes to the financial results, please see the Annual Report and Accounts, available for download from the Company's website: www.hottunaplc.com"
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR FEIFWFSUSEEE
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| 22-10-09 | RNS |
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RNS Number : 2504B Hot Tuna (International) plc 22 October 2009 Hot Tuna (International) PLC ("Hot Tuna" or "the Company") Holdings in Company The Company has been informed that as at 9th October 2009 Barclays Plc through its legal entity Barclays Stockbrokers Limited has an interest of 53,003,080 ordinary shares of the Company, which represents approximately 8.11 per cent. of the issued share capital. This information is provided by RNS The company news service from the London Stock Exchange END
HOLUUUSRKRRRUAA More |
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| Date/Time | Subject | Author | ||
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| 12-02-10 | ||||
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Hi all of you fellow sufferers!
I see a 6.5% increase today at 12 noon?????????????? 6.5% increase of Fooooook all is still fooooook all isn't it!!! Had to sell my dog and wifes fur coat due to this share in my portfolio. Think this is one you keep in your bottom draw, forget about it for 40 years, and it will still be the bloody same price!! Kepp the faith brothers. Regards Corky |
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| 12-02-10 |
SELL
WOOF WOOF WOOF
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This is still a dog,if anybody would give you any money ha ha
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| 14-01-10 | ||||
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are you in heavy then ? ...u sound a little pissed mate...guessing you aint buying a hot tuna shirt any time soon...lol ...good luck with your holding.
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| 12-01-10 | ||||
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as i have said above this lot of joker's could not run 1. If this ever hits a penny again watch out inflation has gone made here. Sack the lot of them and start again i say. I hope i can write this share off on my tax bill its the only way i will ever get any money out off it. Wa£$ER'S
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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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