MASTERMAILER HOLDINGS PLC
INTERIM RESULTS FOR THE 6 MONTHS ENDED 31ST
DECEMBER 2007
Mastermailer,
which sells and distributes the unique single-sheet, laser compatible, self-seal
mailer, announces its interim results for the half year ended 31st
December 2007
Turnover
was affected by delivery delays in the November & December period, which
have since been corrected, and by end February 2008 cumulative turnover outpaced
the prior period by a steady margin. We anticipate that this increase in sales
will continue so our full year turnover is anticipated to be ahead of last
year.
Profitability
has been significantly affected by the increased overheads resulting from
additional business development expenditure and the CompanyÕs PLUS listing..
Your Board is currently considering a number of options to reduce costs and
provide additional working capital to enable the business to continue its sales
and product development and achieve its full potential.
A
number of modifications were successfully made during the period to the
ÒDataguardÓ product at the request of APACS, the bankÕs clearing association.
The revised and up-graded product will now be resubmitted for evaluation &
approval. Subject to all going well volume manufacturing processes should be
finalised, enabling this sales drive to start this year or during 2009
As
well as continuing to increase Mastermailer sales in the UK, a considerable
amount of effort is being made to develop a strong sales base overseas with
particular emphasis in the USA, which it is anticipated will make a
contribution later in the year.
Peter
Woods
Chairman
March
25th 2008
|
MASTERMAILER
HOLDINGS PLC |
|
|
|
|
|
CONSOLIDATED
PROFIT & LOSS ACCOUNT |
|
|
|
|
|
|
|
6
months to 31st December 2007 |
6
months to 31st December 2006 |
Year
Ended 30th June 2007 |
|
|
|
(unaudited) |
(unaudited) |
(audited) |
|
Turnover |
|
604,296 |
632,325 |
1,230,025 |
|
Cost of
Sales |
|
329,591 |
339,505 |
703,492 |
|
Gross
Profit |
|
274,705 |
292,820 |
526,533 |
|
|
|
|
|
|
|
Administrative
Expenses |
229,128 |
121,539 |
328,058 |
|
|
Operating
Profit |
|
45,577 |
171,281 |
198,475 |
|
Interest
Receivable |
|
|
|
7 |
|
Interest
Payable |
|
7,311 |
8,371 |
38,179 |
|
Profit
on ordinary activities before Taxation |
38,266 |
162,910 |
160,303 |
|
|
Tax on
Profit on ordinary activity |
7,653 |
34,570 |
31440 |
|
|
Profit
on Ordinary Activities after Taxation |
30,613 |
128,340 |
128,863 |
|
|
CONSOLIDATED
BALANCE SHEET |
|
|
|
|
|
|
|
|
31st
December 2007 |
30th June 2007 |
|
|
|
|
unaudited |
Audited |
|
|
|
|
£ |
£ |
|
Fixed
Assets: |
Intangible
Fixed Assets |
|
874,877 |
736,324 |
|
|
Tangible
Fixed Assets |
|
8,571 |
9,795 |
|
|
|
|
883,448 |
746,119 |
|
|
|
|
|
|
|
Current
Assets: |
Stocks |
|
26,244 |
29,965 |
|
|
Debtors |
|
310,022 |
377,397 |
|
|
Cash at
bank & in-hand |
|
-9,927 |
298 |
|
|
|
|
326,339 |
407,660 |
|
|
|
|
|
|
|
Creditors |
amounts
falling due within one year |
-797,122 |
-779,391 |
|
|
|
|
|
|
|
|
Net
Current Liabilities |
|
|
-470,783 |
-371,731 |
|
|
|
|
|
|
|
Total
Assets less Current Liabilities |
|
412,665 |
374,388 |
|
|
Creditors |
amounts
falling due after more than one year |
-11,022 |
-3,367 |
|
|
Net
Assets |
|
|
401,643 |
371,021 |
|
Capital
& Reserves |
|
|
|
|
|
|
Called up
Share Capital |
|
320,000 |
320,000 |
|
|
Share
Premium Account |
|
1,148,221 |
1,148,221 |
|
|
Profit
& Loss Account |
|
-1,066,578 |
-1,097,200 |
|
|
|
|
|
|
|
Shareholders'
Funds |
All Equity |
|
401,643 |
371,021 |
|
MASTERMAILER
HOLDINGS PLC |
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|
|
|
CONSOLIDATED
CASH FLOW STATEMENT |
|
|
|
|
|
Six months
ended 31st December 2007 |
Six months
ended 31st December 2006 |
Year ended
30th June 2007 |
|
|
(unaudited) |
(unaudited) |
(audited) |
|
Net
Cash Flow from Operating Activities |
149,828 |
195,408 |
183,775 |
|
|
|
|
|
|
Returns
on Investments & Servicing of Finance |
-7,311 |
-8,371 |
-38,172 |
|
|
|
|
|
|
Capital
Expenditure & Financial Investment |
-152,409 |
0 |
-327,332 |
|
|
|
|
|
|
Cash
Inflow(outflow) Before Financing |
-9,892 |
187,037 |
-181,729 |
|
|
|
|
|
|
Financing |
-16,100 |
408,978 |
140,796 |
|
|
|
|
|
|
Increase
(decrease) in cash in the half year |
-25,992 |
596,015 |
-40,933 |
|
RECONCILIATION
OF NET CASH FLOW TO MOVEMENT |
|
|
|
|
IN NET
FUNDS/DEBT |
|
|
|
|
Increase
(decrease) in cash in the half year |
-25,992 |
596,015 |
-40,933 |
|
|
|
|
|
|
Cash
outflow/(inflow) from decrease(increase) in debt and lease financing |
78,987 |
50,018 |
318,200 |
|
|
|
|
|
|
Movement
in net debt for the half year |
52,995 |
646,033 |
277,267 |
|
|
|
|
|
|
Net debt
at the start of the period |
-76,389 |
-356,656 |
-353,656 |
|
|
|
|
|
|
Net
debt at the end of the period |
-23,394 |
-292,377 |
-76,389 |
The
Directors of Mastermailer accept responsibility for this announcement.
For further
information please contact:
Stephen
Black, Chief Executive Officer 01384
878404
Chris
Sandison, Finance Director 01684
593926
MASTERMAILER HOLDINGS PLC
NOTES TO THE FINANCIAL INFORMATION
The results for the half year ended to 31st
December 2007 are unaudited and do not constitute statutory accounts within the
meaning of section 240 of the Companies Act 1985
The financial information for the year ended 30th
June 2007 has been extracted from the statutory accounts for that year which
have been filed with the registrar of companies and on which the auditors have
given an un-qualified audit opinion.
The accounting policies used in the preparation of the
audited financial statements as at 30th June 2007 have been used in
the preparation of this report.
The companyÕs auditors have not reviewed these
unaudited interim results.