TIDMCUS
RNS Number : 3962J
CustomVis plc
30 March 2010
Embargoed until 7am
30 March 2010
CustomVis Plc
("CustomVis" "the Company" or the "Group")
INTERIM RESULTS
For the six months ended 31 December 2009
CustomVis (AIM: CUS) develops, manufactures and sells laser systems for
refractive surgery of the eye. To date, sales are in many countries worldwide,
excluding the US. The Directors believe it is currently the only company in the
world marketing a solid state laser to perform this surgery. Solid state is
widely accepted as the next generation technology for this industry as it
overcomes known shortcomings of the gas excimer lasers currently used for this
purpose.
The Group announces its report for the six months ended 31 December 2009.
CHAIRMAN'S STATEMENT
I am pleased to report on the Group's activities for the first half of the
2009/10 financial year. Our solid-state laser technology with its enhanced
performance specifications continues to gain global recognition and sales
enquiries have been growing to record levels.
By the end of 2009, the Group had shipped or installed 45 (H1 2008/09: 35)
Pulzar Z1 lasers and this number has increased to 47 at the time of this report.
With our lasers having treated in excess of 110,000 eyes, we look forward to
significantly expanding this number through the newly approved treatment for
presbyopia, PresBvis(TM).
FINANCIAL REVIEW
The Group made a profit before taxation of GBP1,080,198 for the six months ended
31 December 2009 after recognising an unrealised gain on foreign exchange of
GBP1,731,737 (2008: GBP222,929). Sales revenue was GBP760,765 (2008:
GBP904,733), a decrease of 16 per cent. on the comparative period last year.
Earnings per share for the period was 0.60p (2008: loss of 0.13p). Over the
period the AUD:GBP exchange rate strengthened by 14 per cent. making the current
period costs appear higher than last years when expressed in GBP.
Group net assets at 31 December 2009 were GBP3.60 million (31 December 2008:
GBP4.58 million). Net current assets at that date were GBP2.89 million (2008:
GBP3.48 million), which included cash funds of GBP65,375 (2008: GBP625,741).
On 5 October 2009, the Group announced it had raised GBP299,390 (net of issue
expenses) via a placing of 23,030,000 ordinary shares at 1.3p per share to fund
ongoing operations and growth. The placing was supported by a number of the
Group's major investors. The placing proceeds were raised to enable the Company
to recruit further sales staff for Europe, increase its marketing effort and
provide working capital to increase production and sales.
OPERATIONAL REVIEW
While we continue to experience strong growth in interest in the flagship
product, Pulzar Z1(TM), acknowledgement of the continuing impact of the global
economic situation must be made with the effect on business confidence across
the whole industry remains evident. The Company also had to progress through an
EGM on 6 July 2009, that was called by a requisition group focused on
challenging certain Board members. During this period, the Company received
substantial negative comment in the industry that the Board believes has
influenced a decline in sales flow; a situation that is being overcome in
certain markets.
During the reporting period, we contracted new distributors in Argentina, Chile,
Mexico and the Philippines. Subsequent to the period, we appointed a dedicated
European Sales Manager and German distributor. At the same time, we installed
lasers in Iraq and Argentina. In line with the end of the recession in certain
parts of the world, South America has emerged as a key market in recent times
with interest from this market steadily increasing.
On 6 November 2009, we announced the approval for PresBvis(TM), our presbyopia
treatment by the Therapeutic Goods Administration ("TGA"), Australia's
regulatory agency for medical drugs and devices. This major achievement also
provides for European CE approval. The Directors believe this treatment option
doubles the addressable market for the Pulzar Z1(TM). Preliminary market
reports demonstrate interest in the laser is now being driven towards
PresBvis(TM) procedures in clinics separately to standard LASIK treatment.
Independent medical reports identify certain specifications of the Pulzar Z1(TM)
that make it ideal for this type of surgery. PresBvis(TM) is delivered on a per
eye basis. First revenues were obtained in November 2009 and in recent weeks we
have seen growth in this new source of revenue. This is expected to increase
substantially during the calendar year.
Our new low cost, portable digital ophthalmoscope (RetinaVis(TM)) used for
photographing the retina of the eye has been demonstrated at three major
ophthalmic trade shows and has received a high level of interest. We have
reached agreement on sale of the first demonstration units to distributors.
The Company believes the camera does not have a close competitive product in
either cost or portability. Interest has been shown from ophthalmology,
optometry and veterinary areas. Our research reveals there is a large market
for these devices and we believe this camera will generate meaningful revenues
at reasonable gross margins in the future, commencing from the third quarter of
2010.
The project to develop a new multipurpose ophthalmic laser, for which a AUS$2.3
million Australian government grant was awarded, was greater than 90 per cent.
complete at the end of this reporting period. The grant has now concluded and
the many advances achieved will provide improvements for our ophthalmic laser
technology.
During the period, we reached an agreement with Moorfields Eye Hospital in
London to undertake trials of the laser on patients that have very limited
options for vision correction with laser treatment being one of the few. These
treatments aim to provide key information that distinguishes our laser from the
excimer gas-fired lasers due to its advanced technical specifications for
customised laser surgery. Moorfields Eye Hospital has now submitted an abstract
on the preliminary results to the European Society of Cataract and Refractive
Society (ESCRS) meeting. If accepted, this will be presented in September 2010.
Moorfields Eye Hospital has also begun plans to extend the trial to include our
PresBvis(TM) treatment for presbyopia. This will be compared with another
potential presbyopia treatment.
CURRENT TRADING
We are witnessing a sharp increase in marketing efforts by our excimer laser
competitors as they try to rebuild their sales flow,now that the worst of the
global economic crises is thought to be past. We are also continuing to see
negative marketing directed towards us by anonymous parties assumed by the
Directors to be associated with the July 2009 EGM, which is having an adverse
effect on our sales performance. At the recent winter ESCRS meeting held in
Budapest, strong interest was shown in our laser. This was helped by a leading
UK ophthalmologist presenting their results, which were very positive on the
performance of our laser. We are now dealing with a record number of sales
enquiries.
However, the low sales performance in the third quarter of the financial year
has placed considerable pressure on the cashflow of the Company. The Directors
are currently pursuing various options including the option to raise additional
working capital.
The Board would like to thank its staff for their continuing hard work and the
shareholders for their continuing support.
Simon Carroll
Chairman
Unaudited Consolidated Income Statement
for the six months ended 31 December 2009
+-------------------------------+----------+-------------+-------------+-------------+
| | Notes | Six | Six | Year |
| | | months | months | to |
| | | to 31 | to 31 | 30 |
| | | December | December | June |
| | | 2009 | 2008 | 2009 |
| | |(Unaudited) |(Unaudited) | (Audited) |
+-------------------------------+----------+-------------+-------------+-------------+
| | | GBP | GBP | GBP |
+-------------------------------+----------+-------------+-------------+-------------+
| Revenue | | 760,765 | 904,733 | 2,119,384 |
+-------------------------------+----------+-------------+-------------+-------------+
| Cost of Sales | | (352,056) | (414,122) | (1,047,865) |
+-------------------------------+----------+-------------+-------------+-------------+
| Gross profit | | 408,709 | 490,611 | 1,071,519 |
+-------------------------------+----------+-------------+-------------+-------------+
| | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
| Other income | | 390,095 | 134,540 | 592,054 |
+-------------------------------+----------+-------------+-------------+-------------+
| Staff expenses | | (782,393) | (742,905) | (1,296,713) |
+-------------------------------+----------+-------------+-------------+-------------+
| Marketing expenses | | (56,392) | (102,654) | (238,739) |
+-------------------------------+----------+-------------+-------------+-------------+
| Depreciation | | (29,032) | (37,464) | (103,231) |
+-------------------------------+----------+-------------+-------------+-------------+
| Occupancy expenses | | (62,096) | (105,913) | (226,491) |
+-------------------------------+----------+-------------+-------------+-------------+
| Share based payments | | - | (17,597) | (26,769) |
+-------------------------------+----------+-------------+-------------+-------------+
| Administrative expenses | | (520,430) | (303,730) | (1,225,935) |
+-------------------------------+----------+-------------+-------------+-------------+
| Foreign exchange gain | | 1,731,737 | 462,183 | 717,729 |
+-------------------------------+----------+-------------+-------------+-------------+
| Profit/(Loss) before tax | | 1,080,198 | (222,929) | (736,576) |
+-------------------------------+----------+-------------+-------------+-------------+
| | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
| Income tax expense | | - | - | 353,474 |
+-------------------------------+----------+-------------+-------------+-------------+
| Profit/(Loss) for the period | | 1,080,198 | (222,929) | (383,102) |
| attributable to the equity | | | | |
| holder of the parent | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
| | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
| Earnings/(Loss)/ per share | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
| Basic | 4 | 0.60p | (0.13p) | (0.22p) |
+-------------------------------+----------+-------------+-------------+-------------+
| Diluted | | 0.60p | (0.13p) | (0.22p) |
+-------------------------------+----------+-------------+-------------+-------------+
| | | | | |
+-------------------------------+----------+-------------+-------------+-------------+
Unaudited Consolidated Balance Sheet
as at 31 December 2009
+----------------------------+-------+--------------+--------------+--------------+
| | | As at | As at | As at |
| | | 31 | 31 | 30 June |
| | | December | December | 2009 |
| |Notes | 2009 | 2008 | (Audited) |
| | | (Unaudited) | (Unaudited) | |
+----------------------------+-------+--------------+--------------+--------------+
| | | GBP | GBP | GBP |
+----------------------------+-------+--------------+--------------+--------------+
| Current assets | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Cash and cash equivalents | | 65,375 | 625,741 | 324,797 |
+----------------------------+-------+--------------+--------------+--------------+
| Trade and other | | 1,682,043 | 1,434,571 | 1,602,331 |
| receivables | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Prepayments | | 141,021 | 44,781 | 64,967 |
+----------------------------+-------+--------------+--------------+--------------+
| Inventory | | 1,000,547 | 1,371,799 | 1,199,060 |
+----------------------------+-------+--------------+--------------+--------------+
| | | 2,888,986 | 3,476,892 | 3,191,155 |
+----------------------------+-------+--------------+--------------+--------------+
| Non-current assets | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Trade and other | | 691,103 | 991,133 | 838,100 |
| receivables | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Property, plant & | | 20,354 | 109,257 | 43,530 |
| equipment | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | 711,457 | 1,100,390 | 881,630 |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Total assets | | 3,600,443 | 4,577,283 | 4,072,785 |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Current liabilities | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Trade and other payables | | 859,715 | 676,604 | 1,007,788 |
+----------------------------+-------+--------------+--------------+--------------+
| Provision for taxation | | | 397,594 | 28,620 |
+----------------------------+-------+--------------+--------------+--------------+
| | | 859,715 | 1,074,198 | 1,036,408 |
+----------------------------+-------+--------------+--------------+--------------+
| Non-current liabilities | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Payables due after one | | 351,321 | 256,780 | 302,276 |
| year | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Total liabilities | | 1,211,036 | 1,330,978 | 1,338,684 |
+----------------------------+-------+--------------+--------------+--------------+
| | | 2,389,407 | 3,246,305 | 2,734,701 |
| Net assets | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| EQUITY | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Issued share capital | | 5,506,760 | 5,504,424 | 5,504,424 |
+----------------------------+-------+--------------+--------------+--------------+
| Reserves | | 8,739,378 | 10,518,637 | 10,166,606 |
+----------------------------+-------+--------------+--------------+--------------+
| Retained earnings | | (11,856,731) | (12,776,756) | (12,936,929) |
+----------------------------+-------+--------------+--------------+--------------+
| Total equity attributable | | 2,389,407 | 3,246,305 | |
| to equity holders of the | | | | 2,734,101 |
| parent | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
Unaudited Consolidated Statement of Changes in Equity
for the six months ended 31 December 2009
+----------------------------+-------+--------------+--------------+--------------+
| | | Six | Six | Year to |
| | | months to | months | 30 June |
| | | 31 | to 31 | 2009 |
| |Notes | December | December | (Audited) |
| | | 2009 | 2008 | |
| | | (Unaudited) | (Unaudited) | |
+----------------------------+-------+--------------+--------------+--------------+
| | | GBP | GBP | GBP |
+----------------------------+-------+--------------+--------------+--------------+
| Share capital | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Opening balance | | 5,504,424 | 5,504,424 | 5,504,424 |
+----------------------------+-------+--------------+--------------+--------------+
| Proceeds from new share | | 2,336 | - | |
| issue | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | 5,506,760 | 5,504,424 | 5,504,424 |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Share premium reserve | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Opening balance | | 11,802,901 | 11,802,901 | 11,802,901 |
+----------------------------+-------+--------------+--------------+--------------+
| Premium from new share | | 301,322 | - | - |
| issue | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | 12,104,223 | 11,802,901 | 11,802,901 |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Options reserve | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Opening balance | | 453,527 | 426,758 | 426,758 |
+----------------------------+-------+--------------+--------------+--------------+
| Recognition of share based | | - | 17,597 | 26,769 |
| payments | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | 453,527 | 444,355 | 453,527 |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Foreign currency | | | | |
| translation reserve | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Opening balance | | (2,089,822) | (1,824,363) | (1,824,363) |
+----------------------------+-------+--------------+--------------+--------------+
| Exchange differences | | | | |
| arising on translation of | | (1,728,550) | 95,744 | (265,459) |
| foreign operations | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | (3,818,372) | (1,728,619) | (2,089,822) |
+----------------------------+-------+--------------+--------------+--------------+
| | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Retained earnings | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| Opening balance | | (12,936,929) | (12,553,827) | (12,553,827) |
+----------------------------+-------+--------------+--------------+--------------+
| Net profit/(loss) for the | | 1,080,198 | (222,929) | (383,102) |
| period | | | | |
+----------------------------+-------+--------------+--------------+--------------+
| | | (11,856,731) | (12,776,756) | (12,936,929) |
+----------------------------+-------+--------------+--------------+--------------+
Unaudited Consolidated Cash Flow Statement
for the six months ended 31 December 2009
+---------------------+--------+-------------+-------------+-------------+
| | | Six | Six | Year |
| | Note | months | months | ended |
| | | to | to | 30 |
| | | 31 | 31 | June |
| | | December | December | 2009 |
| | | 2009 | 2008 | (Audited) |
| | | (Unaudited) | (Unaudited) | |
+---------------------+--------+-------------+-------------+-------------+
| | | GBP | GBP | GBP |
+---------------------+--------+-------------+-------------+-------------+
| Cash | | | | |
| flow | | | | |
| used | | | | |
| in | | | | |
| operating | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Profit/(Loss) | | 1,080,198 | (222,929) | (383,102) |
| for the | | | | |
| period | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Adjustments | | | | |
| for: | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Depreciation | | 29,032 | 37,464 | 103,231 |
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Share | | - | 17,597 | 26,769 |
| based | | | | |
| payments | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Profit | | - | - | (109,567) |
| on | | | | |
| disposal | | | | |
| of | | | | |
| property | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Net | | (16,635) | (16,905) | (15,321) |
| finance | | | | |
| costs | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Provision | | - | - | 404,003 |
| for bad | | | | |
| and | | | | |
| doubtful | | | | |
| debts | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Unrealised | | | | |
| foreign | | (1,731,737) | (375,676) | (717,860) |
| exchange | | | | |
| rate | | | | |
| differences | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Other | | - | - | - |
| payments | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | (639,142) | (560,449) | (691,847) |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Increase/(Decrease) | | 8,769 | (441,994) | (963,248) |
| in receivables | | | | |
+---------------------+--------+-------------+-------------+-------------+
| (Decrease)/Increase | | (127,648) | (1,181) | 376,388 |
| in payables | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Decrease/(Increase) | | 198,514 | 125,155 | 341,607 |
| in inventory | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Provision | | - | - | (368,974) |
| for | | | | |
| taxation | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Net | | (559,507) | (878,469) | (1,306,875) |
| cash | | | | |
| used | | | | |
| in | | | | |
| operating | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Cash | | | | |
| flow | | | | |
| used | | | | |
| in | | | | |
| investing | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Payments | | | | |
| for | | (5,856) | (2,207) | 109,872 |
| property, | | | | |
| plant and | | | | |
| equipment | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Net | | (5,856) | (2,207) | (5,520) |
| cash | | | | |
| used | | | | |
| in | | | | |
| investing | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Cash | | | | |
| flow | | | | |
| from | | | | |
| financing | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Proceeds | | | | |
| from | | 602 | 16,905 | 18,987 |
| Interest | | | | |
| and | | | | |
| investment | | | | |
| income | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Proceeds | | 303,658 | - | - |
| from | | | | |
| issue of | | | | |
| equity | | | | |
| shares | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Net | | 304,260 | 16,905 | 18,987 |
| cash | | | | |
| from | | | | |
| financing | | | | |
| activities | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Net | | | | |
| (decrease)/increase | | (261,104) | (863,771) | 1,177,216 |
| in cash and cash | | | | |
| equivalents | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Exchange | | | | |
| gains/(losses) | | 1,682 | (3,737) | 8,764 |
| on cash and | | | | |
| cash | | | | |
| equivalents | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Cash | | | | |
| and | | 324,797 | 1,493,249 | 1,493,249 |
| cash | | | | |
| equivalents | | | | |
| at | | | | |
| beginning | | | | |
| of the | | | | |
| financial | | | | |
| period | | | | |
+---------------------+--------+-------------+-------------+-------------+
| | | | | |
+---------------------+--------+-------------+-------------+-------------+
| Cash | | | | |
| and | | 65,375 | 625,741 | 324,797 |
| cash | | | | |
| equivalents | | | | |
| at the end | | | | |
| of the | | | | |
| financial | | | | |
| period | | | | |
+---------------------+--------+-------------+-------------+-------------+
Notes to the Interim Results for the six months ended 31 December 2009
1. Basis of preparation
These interim consolidated accounts are for the six months ended 31 December
2009 and have been prepared using accounting policies consistent with
International Financial Reporting Standards (IFRS) adopted for use by the
European Union. The accounting policies and methods of computation used in the
interim consolidated financial statements are consistent with those used in the
Annual Report for 2009 and are expected to be applied for the year ending 30
June 2010.
The financial information presented does not constitute statutory accounts as
defined by section 240 of the Companies Act 1985. The Group's statutory accounts
for the year ended 30 June 2009 have been filed with the Registrar of Companies.
Comparative figures are given for the six months to 31 December 2008 and the
year ended 30 June 2009.
The interim results for the six months ended 31 December 2009 are not
necessarily indicative of the results to be expected for the full 2010 year.
2. Taxation
No corporation tax has been provided for the six months ended 31December 2009
period as the projected taxable losses for the period and taxation losses
brought forward indicate that the Group will have no tax liability for the
period.
Deferred tax assets arising from trading losses have not been recognised on the
basis that their future economic benefit is uncertain.
3. Earnings/(Loss) per share
+--------------------------------+-------------+-------------+-------------+
| | Six | Six | Year to |
| | months | months | 30 June |
| | to | to | 2009 |
| | 31 | 31 | |
| | December | December | |
| | 2009 | 2008 | |
+--------------------------------+-------------+-------------+-------------+
| | GBP | GBP | GBP |
+--------------------------------+-------------+-------------+-------------+
| | | | |
+--------------------------------+-------------+-------------+-------------+
| Profit/(Loss) used in | | | |
| calculating basic and diluted | | | |
| earnings/(loss) per share from | 1,080,198 | (222,929) | 383,102 |
| continuing operations | | | |
+--------------------------------+-------------+-------------+-------------+
| | | | |
+--------------------------------+-------------+-------------+-------------+
| Weighted average number of | 180,844,993 | 169,165,848 | 117,922,043 |
| shares in issue | | | |
+--------------------------------+-------------+-------------+-------------+
Diluted loss per share has been calculated using the same figures as the basic
calculation. No account has been taken of options, as these potential Ordinary
Shares are not considered to be dilutive under the definitions of the applicable
accounting standards.
4. Segment Result
For the six months ended 31 December 2009
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| |UK/Europe |Australasia | Rest | Total |
| | | | of | |
| | | | World | |
+-------------------------------+-----------+-------------+-----------+-----------+
| | GBP | GBP | GBP | GBP |
+-------------------------------+-----------+-------------+-----------+-----------+
| Revenue | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Sales | 390,517 | - | 370,248 | 760,765 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | | 390,095 | - | 390,095 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 390,517 | 390,095 | 370,248 | 1,150,860 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Segment Result | 106,834 | 804,084 | 169,280 | 1,080,198 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Assets | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Property, plant & equipment | | 20,354 | - | 20,354 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | 429,611 | 1,467,836 | 1,682,642 | 3,580,089 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 429,611 | 1,488,190 | 1,682,642 | 3,600,443 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Liabilities | 266,428 | 629,739 | 314,869 | 1,211,036 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Depreciation | 2,123 | 26,909 | - | 29,032 |
+-------------------------------+-----------+-------------+-----------+-----------+
For the six months ended 31 December 2008
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| |UK/Europe |Australasia | Rest | Total |
| | | | of | |
| | | | World | |
+-------------------------------+-----------+-------------+-----------+-----------+
| | GBP | GBP | GBP | GBP |
+-------------------------------+-----------+-------------+-----------+-----------+
| Revenue | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Sales | 354,213 | - | 550,520 | 904,733 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | 13,554 | 120,986 | - | 134,540 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 367,767 | 120,986 | 550,520 | 1,039,273 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Segment Result | 231,101 | (708,846) | 254,816 | (222,929) |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Assets | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Property, plant & equipment | 28,561 | 80,696 | - | 109,257 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | 937,225 | 1,590,238 | 1,940,563 | 4,468,026 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 965,786 | 1,670,934 | 1,940,563 | 4,577,283 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Liabilities | 564,726 | 396,832 | 369,419 | 1,330,977 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Depreciation | 28,560 | 8,904 | - | 37,464 |
+-------------------------------+-----------+-------------+-----------+-----------+
For the year ended 30 June 2009
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| |UK/Europe |Australasia | Rest | Total |
| | | | of | |
| | | | World | |
+-------------------------------+-----------+-------------+-----------+-----------+
| | GBP | GBP | GBP | GBP |
+-------------------------------+-----------+-------------+-----------+-----------+
| Revenue | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Sales | 503,727 | 4,366 | 1,611,291 | 2,119,384 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | 15,321 | 467,164 | 109,569 | 592,054 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 519,048 | 471,530 | 1,720,860 | 2,711,438 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
| Segment Result | (328,379) | (728,830) | 320,633 | (736,576) |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Assets | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Property, plant & equipment | 2,123 | 41,407 | - | 43,530 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Other | 413,984 | 1,484,587 | 2,130,684 | 4,029,255 |
+-------------------------------+-----------+-------------+-----------+-----------+
| Total | 416,107 | 1,525,994 | 2,130,684 | 4,072,785 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Liabilities | 234,097 | 669,433 | 435,154 | 1,338,684 |
+-------------------------------+-----------+-------------+-----------+-----------+
| | | | | |
+-------------------------------+-----------+-------------+-----------+-----------+
| Depreciation | 52,700 | 50,531 | - | 103,231 |
+-------------------------------+-----------+-------------+-----------+-----------+
5. Dividends
No dividends were paid or are proposed in respect of the six months
ended 31 December 2009.
6. Copies of the interim results will be available from the registered
office of the Company, 7 Devonshire Square, Cutlers Gardens, London EC2M 4YH and
from the Company's website www.customvis.com.
For further information, please contact:
+---------------------------------+---------------------------------+
| CustomVis plc | |
+---------------------------------+---------------------------------+
| Simon Carroll, Chairman | +61 419 304 906 |
| Paul van Saarloos, CEO | +61 410 497 456 |
+---------------------------------+---------------------------------+
| | |
+---------------------------------+---------------------------------+
| Merchant John East Securities Limited |
+-------------------------------------------------------------------+
| David Worlidge / Simon Clements | 020 7628 2200 |
+---------------------------------+---------------------------------+
| | |
+---------------------------------+---------------------------------+
| Leander PR | |
+---------------------------------+---------------------------------+
| Christian Taylor-Wilkinson | 07795 168 157 |
+---------------------------------+---------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR WGURAWUPUUCU
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