Tangibal Group Plc Reports Audited Financial Results for the Full Year June 2009 to June 2010 Audited Accounts
(firmenpresse) - Tangibal Group Plc Reports Audited Financial Results for the Full Year June 2009 to June 2010 Audited Accounts
Your board is pleased to announce its maiden results as a quoted company for the financial year ended 30 June 2010. During the period under review, the Group has undergone a period of consolidation on last year’s initial success, across both divisions, with considerable progress being made despite the effects of the economic downturn. While this is reflected in the financial results for the year, your Board believes it has now developed Tangibal’s business into a position from which it can grow significantly during 2011 both in the UK and internationally.
The following summarised results are taken from the audited Group financial statements. The Full audited financial statements are available on the Tangibal website: www.tangibal.com.
CONSOLIDATED INCOME STATEMENT
YEAR ENDED 30 JUNE 2010
Period from
Year to14 Oct 08 to
30 June 1030 June 09
£ £
REVENUE190,775416,075
Cost of sales152,721216,139
GROSS PROFIT38,054199,939
Distribution costs-(2,515)
Administrative expenses(466,607)(101,223)
Exceptional costs(119,994)-
Other operating income - 51,250
(LOSS)/PROFIT FROM OPERATIONS(548,547)147,448
Finance costs (7,519) (149)
(LOSS)/PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION(556,066)147,299
Tax on (loss)/profit on ordinary activities 31,424 (31,424)
RETAINED (LOSS)/PROFIT FOR THE YEAR(524,642)115,875
============
Of the 524,642 of losses, £112,733 is a non cash depreciation charge and £119,994 has been disclosed as a one off exceptional item relating to costs incurred for the companies IPO on the Open Market.
Net assets for the Group at 30 June 2010 were £124,481
Post Year-end Events:
In our current financial year, ending 30 June 2011, the hard work and positioning undertaken during 2009/10 has begun to reap benefits. The highlights are:
Booked turnover in Tangibal Media Ltd has more than doubled and is currently in excess of £300,000 for the year ending 30 June 2011 with six months left to the year end.
Profit margins in Tangibal Media have improved following a strategic partnership with its software partner, Interaction Factory (“iF”). iF has contracted to grant Tangibal Media worldwide software licences free of charge for exclusive use of their technology in cinemas in exchange for a 20% stake in the shares of Tangibal Media. This is expected to save Tangibal Media Euros 400,000 in operating costs in the year ending 30 June 2011 alone. Content production has also been brought in-house by Tangibal Media providing further opportunity to increase profit margins.
Tangibal Media’s network has expanded to 25 sites in the UK and is being grown by the end of the current financial period to 50 Cinemas in the UK and 7 in Norway.
The Group has raised a further 750,000 Euros of investment providing the company with a solid foundation for 2011.
Summary
Your Company took a cautious approach to the development of its business in 2009/10 and the 2010/11 year has begun positively. Tangibal’s media network is attracting larger numbers of advertisers in the current financial year and the example set by the UK is now attracting international attention, with the company preparing to roll out a network in Norway and negotiating to install new networks in Germany, France and Belgium.
The Group is looking forward to building on its early success in 2010/11 and the board has every confidence in the prospects for the Company’s sector and the wider digital advertising market.
About Tangibal:
Formed in 2008, Tangibal Group Plc has established itself as a vision leader in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate.
Further information about the company can be found at www.tangibal.com.
Videos of the use of the technology can also be found at: www.youtube.com/tangibal
If further information is required please feel free to contact the company.
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Tangibal Group Plc
Bermuda House
45 The High Street
Hampton Wick
Kingston upon Thames
Surrey
KT1 4EH
UK
Leseranfragen:
Tangibal Group PLC
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Datum: 04.02.2011 - 16:30 Uhr
Sprache: Deutsch
News-ID 27770
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Town:
Wien
Kategorie:
Business News
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