Exceptional items (93) (39) - (132)
--------------------------- ---------- ---------- --------- ----------
Segment result: operating
profit/(loss) 669 (22) (13) 634
Finance income 40
Finance costs (64)
--------------------------- ---------- ---------- --------- ----------
Profit before tax 610
Tax (6)
--------------------------- ---------- ---------- --------- ----------
Profit after tax 604
--------------------------- ---------- ---------- --------- ----------
Total assets 21,951 7,895 2,512 32,358
--------------------------- ---------- ---------- --------- ----------
* Before share-based payments, amortisation of acquired
intangibles, acquisition costs and exceptional items.
4. Share based payment, exceptional items, acquisition costs
and amortisation of acquired intangibles
Six months Six months Year to
to Sept 2012 to Sept 2011 March 2012
(unaudited) (unaudited) (audited)
GBP'000 GBP'000 GBP'000
-------------------------------------- -------------- -------------- ------------
Share-based payment (515) (97) (549)
Exceptional items (232) - (132)
Acquisition costs - (120) (333)
-------------------------------------- -------------- -------------- ------------
Total included within operating
expenses (717) (217) (1,014)
Amortisation of acquired intangibles (419) - (277)
-------------------------------------- -------------- -------------- ------------
Total included within amortisation (419) - (277)
Exceptional items comprise:
-- Six months ended 30 September 2012:
o Onerous lease costs incurred as a result of the integration of
the WTD business in Chicago (GBP232,000).
-- Year ended 31 March 2012:
o One-off costs for the closure of the New York office
(GBP39,000);
o Restructuring of the operations team (GBP49,000), and
o Impairment of trade receivables incurred as result of the
international financial crisis (GBP44,000).
5. Taxation
Six months Six months Year to
to Sept 2012 to Sept 2011 March 2012
(unaudited) (unaudited) (audited)
GBP'000 GBP'000 GBP'000
--------------------------------------- -------------- -------------- ------------
Corporate tax charge 5 - 4
Overseas tax 38 9 34
Adjustments in respect of prior
years 3 9
Deferred taxation in respect
of the current year 69 - 376
Effect of rate changes on deferred
tax assets - - 121
Deferred tax benefits from previously
unrecognised tax losses (29) - (538)
--------------------------------------- -------------- -------------- ------------
Tax charge 86 9 6
--------------------------------------- -------------- -------------- ------------
Any profits made by the group during the period were offset
against losses made in previous periods.
6. Basic earnings per share and fully diluted earnings
per share
Earnings per share is calculated by dividing the profit after
tax for each period by the weighted average number of ordinary
shares in issue during each period, as follows:
Six months Six months Year to
to Sept 2012 to Sept 2011 March 2012
(unaudited) (unaudited) (audited)
Basic earnings per share
Profit/(loss) attributable to GBP76,000 (GBP116,000) GBP604,000
shareholders
Share-based payment GBP515,000 GBP97,000 GBP549,000
Amortisation of acquired intangibles GBP419,000 GBP277,000
Acquisition costs - GBP120,000 GBP333,000
Exceptional items GBP232,000 - GBP132,000
-------------------------------------- -------------- -------------- --------------
Adjusted profit attributable GBP1,242,000 GBP101,000 GBP1,895,000
to shareholders
-------------------------------------- -------------- -------------- --------------
Weighted average number of shares 483,414,085 414,215,299 434,694,437
-------------------------------------- -------------- -------------- --------------
Diluted earnings per share
Weighted average number of shares 483,414,085 414,215,299 434,694,437
Effect of share options 19,973,666 15,226,623 24,602,901
Effect of contingently issuable
shares 2,558,173 - 5,116,346
-------------------------------------- -------------- -------------- --------------
Fully diluted weighted average
number of ordinary shares 505,945,924 429,441,922 486,520,635
-------------------------------------- -------------- -------------- --------------
7. Share capital
At 30 September 2012 the number of shares in issue amounted to
487,501,299 and share capital was GBP4,875,013. During the period
the Group issued 1,377,538 shares to satisfy the exercise of share
options, 2,558,173 shares as part of the deferred consideration for
the acquisition of Spread Intelligence and 1,056,480 shares to the
FFastFill Plc SIP trust to satisfy share awards under the Group's
share award schemes.
8. Dividend
The Directors have not proposed an interim dividend (H1 11/12
GBPnil).
9. Risks and Uncertainties
A detailed explanation of the potential risks and uncertainties
which could have a material impact on the Group's performance can
be found on page 15 of the annual report which is available at
www.ffastfill.com/investor-relations/financial-reports
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR GGGAWGUPPGRR
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