Interim Results

RNS Number:5250X
Bolton Group (International) Ld
27 January 2006


Bolton Group (International) Limited


27 January 2006


Bolton Group (International) Limited
Interim Results
Chairman's Statement

The Board of Bolton Group (International) Limited announces the unaudited
results for the six month period ended 31 October 2005.

Results

The Group has made a profit before tax of #20,000 (2004: loss before tax
#34,000). The Directors do not recommend the payment of a dividend.

Review of Operations

Since my last report, the company has undergone a restructuring which has
enabled us to substantially reduce the company's liabilities. The company is
currently looking at various possibilities, with our advisors, to take the
company forward.





Michael Goletka
Chairman





Profit and loss account
for the six months ended 31 October 2005
                                              Note     6 months to       Consolidated 6      RESTATED
                                                                         months to           CONSOLIDATED
                                                                                             ACCOUNTS
                                                       31 October        31 October          Year ended
                                                       2005              2004                30 April 2005
                                                       (Unaudited)       (Unaudited)         (Audited)

                                                       #000              #000                #000

Turnover                                               -                 222                 468
Administrative expenses                                (143)             (127)               (662)
Other operating income                                 -                 -                   -

Operating profit / (loss)                              -                 95                  (194)

Proceeds from disposal of shares                       163               -                   -

(Loss)/profit on ordinary activities
before interest and taxation                           20                                    (194)

Interest receivable                                    -                 -                   -
Interest payable                                       -                 (129)               (272)

(Loss)/profit on ordinary activities
before taxation                                        20                (34)                (466)

Tax on (loss)/profit on ordinary                       -                 -                   -
activities



(Loss)/profit on ordinary activities                   20                (34)                (466)
after taxation

Exceptional item                                       -                 3,227               -

Retained (loss)/profit for the year                    20                3,193               (466)

Prior year adjustment                                  -                 (12,209)            -



Retained (loss) / profit                               20                (9,016)             (466)

(Loss)/earnings per share                      3       0.02p             4.4p                (0.61)p

Diluted (loss)/earnings per share              3       0.02p             4.4p                (0.61)p


All transactions arose from continuing operations during the current and
previous year.




Balance sheet
at 31 October 2005
                                          Note         As at             Consolidated        RESTATED
                                                                         Accounts as at      CONSOLIDATED
                                                                                             ACCOUNTS
                                                       31 October        31 October          As at
                                                       2005              2004                30 April 2005
                                                       (Unaudited)       (Unaudited)         (Audited)

                                                       #000              #000                #000
Fixed assets
Tangible assets                                        -                 3,853               3,534

Current assets
Debtors                                                -                 15                  16
Cash at bank and in hand                               -                 15                  38
                                                                         30                  54

Creditors: amounts falling due within one              (418)             (973)               (1,638)
year

Net current liabilities                                (418)             (943)               (1,584)


Total assets less current liabilities                  (418)             2,910               1950

Creditors: amounts falling due after more
than one year                                          -                 (3,170)             (2,707)

Net (liabilities) / assets                             (418)             (260)               (757)

Capital and reserves
Called up share capital                                861               721                 861
Share premium account                                  1,645             1,547               1,645
Revaluation reserve                                    -                 (150)               (463)
Other reserves                                         -                 5,724               5,725
Profit and loss account                                (2,924)           (8,102)             (8,525)

Shareholders' funds - equity                           (418)             (260)               (757)







Cash Flow Statement
for the six months ended 31 October 2005

                                          Note         6 months to       Consolidated 6      RESTATED
                                                                         months to           CONSOLIDATED
                                                                                             ACCOUNTS
                                                       31 October        31 October          Year ended
                                                       2005              2004                30 April 2005
                                                       (Unaudited)       (Unaudited)         (Audited)

                                                       #000              #000                #000

Net cash (outflow) / inflow from
operating activities                                   28                (554)               (592)


Exceptional items                                      -                 -                   -

Returns on investments and servicing of                -
finance
Interest received                                      -                 -                   -
Interest paid                                          -                 (129)               (272)
Sale of Investments                                    250

Net cash (outflow) from returns on                                       (129)               (272)
investments and servicing of finance

Capital expenditure and financial
investments
Purchase / disposal of tangible fixed                  -                 -                   -
assets
Recovered proceeds from the sale of                    -                 -                   -
shares

Net cash (outflow) / inflow from capital
expenditure and financial investments                  -                 -                   -


Net cash (outflow) / inflow before                     278               (683)               (864)
financing

Financing
Repayment of borrowings                                -                 (60)                (2,517)
Receipt from borrowings                                -                 743                 3,404
Net cash inflow / (outflow) from                       -                 683                 887
financing

(Decrease) / increase in cash                          278               -                   23










NOTES TO THE INTERIM REPORT



1.       The interim report has been prepared using accounting policies
consistent with those set out in the statutory accounts of the group for the
year ended 30 April 2005.

2.       The financial information for the six month period to 31 October 2005
and 31 October 2004 is unaudited and does not constitute statutory accounts
within the meaning of Section 240 of the Companies Act 1985. The figures
relating to the year ended 30 April 2005 have been restated from those reported
in the 30 April 2005 statutory accounts and on which the auditors gave a
qualified opinion.

3.       The calculation of the (loss) / earnings per share and diluted (loss) /
earnings per share are based on the following (losses) / profits after taxation
and weighted average number of shares:



                                                         6 months to       Consolidated 6       RESTATED
                                                                           months to
                                                         31 October        31 October           Year ended
                                                         2005              2004                 30 April
                                                                                                2005
                                                         (Unaudited)       (Unaudited)          (Audited)

                                                         #000              #000                 #000

(Loss) / profit after taxation                           20                3,193                (466)
Number of shares                                         86,138,238        72,138,238           86,138,238

Diluted (loss) / earnings per share after                20                3,193                (466)
taxation
Number of shares                                         86,138,238        72,138,238           86,138,238



4.       Copies of this interim report will be available to the public from the
group's registered office.










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            The company news service from the London Stock Exchange
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