REG-Glen Group PLC Interim Results - Part 2
Released: 30/05/2008
Part 2 : For preceding part double click [nRn1d5611V]
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Profit from operations before exceptional items 6,200 - 49,636
Reorganisation costs - - (14,388)
Amortisation (71,711) - (45,741)
Loss from operations after exceptional items (65,511) - (10,493)
Head office (304,503) (223,714) (564,075)
Continuing operations (430,688) (743,363) (2,583,596)
IT - discontinued operations (433,040) 145,620 (421,781)
Total losses (863,728) (597,743) (3,005,377)
By destination
United Kingdom (863,728) (597,743) (3,005,377)
Total losses (863,728) (597,743) (3,005,377)
By origin
Glen Group - continuing operations (304,503) (223,714) (564,075)
Glen Communications - continuing operations (60,674) (519,649) (2,009,028)
Pinnacle - continuing operations (65,511) - (10,493)
Total losses (430,688) (743,363) (2,583,596)
Eclectic and IG - discontinued operations (433,040) 145,620 (421,781)
Total losses (863,728) (597,743) (3,005,377)
GLEN GROUP PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the six months ended 31 March 2008
4 Loss per share
6 months to 6 months to 12 months to
31 March 31 March 30 September
2008 2007 2007
£ £ £
Basic and fully diluted (0.07) p (0.16) p (0.53) p
Loss for the period attributable to shareholders:
Losses basic and fully diluted (863,728) (597,743) (3,005,377)
Weighted average number of shares in issue:
Basic and fully diluted 1,194,099,804 364,595,986 567,346,340
5 Profit and loss reserve
6 months to 6 months to 12 months to
31 March 31 March 30 September
2008 2007 2007
£ £ £
Opening deficit (4,167,118) (1,161,741) (1,161,741)
Loss for the period (863,728) (597,743) (3,005,377)
Closing deficit (5,030,846) (1,759,484) (4,167,118)
6 Statutory accounts
These financial statements do not constitute statutory accounts. Although the information has been reviewed by the auditors, it is
unaudited. The statutory accounts for the year ended 30 September 2007, contained an unqualified audit report and are filed with
the Registrar of Companies.
INDEPENDENT REVIEW REPORT TO GLEN GROUP plc
Introduction
We have been engaged by the company to review the condensed set of financial
statements in the half-yearly financial report for the six months ended 31March
2008 which comprises the consolidated interim income statement, consolidated
interim balance sheet, consolidated interim cash flow statement, consolidated
interim statement of changes in equity, accounting policies and the related
notes. We have read the other information contained in the half yearly financial
statements which comprise only the highlights, Chairman's Statement and Business
Review and considered whether it contains any apparent misstatements or material
inconsistencies with the information in the condensed set of financial
statements.
This report is made solely to the company in accordance with guidance contained
in ISRE (UK and Ireland) 2410, 'Review of Interim Financial Information
performed by the Independent Auditor of the Entity'. Our review work has been
undertaken so that we might state to the company those matters we are required
to state to them in a review report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone
other than the company, for our review work, for this report, or for the
conclusion we have formed.
Directors' responsibilities
The half-yearly financial report is the responsibility of, and has been approved
by, the directors.
As disclosed in Note 1, the annual financial statements of the group are
prepared in accordance with IFRSs as adopted by the European Union. The
condensed set of financial statements included in this half-yearly financial
report has been prepared in accordance with International Accounting Standard
34, 'Interim Financial Reporting,' as adopted by the European Union.
Our responsibility
Our responsibility is to express to the company a conclusion on the condensed
set of financial statements in the half-yearly financial report based on our
review.
Scope of review
We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410, 'Review of Interim Financial Information
Performed by the Independent Auditor of the Entity' issued by the Auditing
Practices Board for use in the United Kingdom. A review of interim financial
information consists of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in
accordance with International Standards on Auditing (UK and Ireland) and
consequently does not enable us to obtain assurance that we would become aware
of all significant matters that might be identified in an audit. Accordingly, we
do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe
that the condensed set of financial statements in the half-yearly financial
report for the six months ended 31 March 2008 is not prepared, in all material
respects, in accordance with International Accounting Standard 34 as adopted by
the European Union.
GRANT THORNTON UK LLP
AUDITOR
EDINBURGH
30 May 2008
This information is provided by RNS
The company news service from the London Stock Exchange
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