Half Yearly Report -2-
2010年9月27日 - 4:11PM
ＲＮＳを含む英国規制内ニュース （英語）
focus in 2010 and into 2011 and in that regard we are delighted that Debenhams
will be stocking Purple Ronnie product in the run-up to Christmas this year.
(iv) Bagpuss, Clangers & Ivor The Engine
Created by Oliver Postgate and Peter Firmin, Coolabi is the international
licensing agent for these enduring British children's classics and distributor
of the existing TV series. As a part of our ongoing development of these
licences we have recently refreshed all of the materials available for
exploitation by our licensing partners. Three generations of the creators'
families were involved in the process, under the Creative Direction of Peter
Firmin. In addition, Daniel Postgate, Oliver Postgate's son and a successful
children's author and illustrator in his own right, has illustrated a series of
new Bagpuss images.
(v) Development
Following the arrival of Zoë Scurfield as Head of Development & Production,
there has been significant early progress and we now have a number of early
stage projects in development.
Financial Review of the Period
The results for the six months to 30 June 2010 were affected by the different
timing of TV production deliveries compared with the same period last year. In
2009, the results reflected the delivery of The Large Family Series II to
broadcasters in the first half whereas deliveries this year are scheduled for
the second half.
Accordingly the Revenue for the half year amounted to GBP961,670 which was
GBP410,745 lower than in 2009 (GBP1,372,415) and the Gross profit of GBP674,704
was GBP257,046 lower than in the comparative period (GBP931,750).
The Earnings before interest, tax, depreciation, amortisation, share-based
payments and exceptional items ("EBITDA") was GBP279,231 lower than the previous
year at GBP16,447 (2009: GBP295,678) with Operating expenses being materially
unchanged. The Loss before income tax for the period was GBP374,030 (2009 loss:
GBP153,531).
Net debt (the net of Cash and cash equivalents, Current portion of long term
borrowings and Long term borrowings) at 30 June 2010 was GBP730,899, a reduction
of GBP340,377 from GBP1,071,276 as at 30 June 2009.
Key Performance Indicators for Year Ending 31 December 2010
At the start of this year, we set ourselves five key objectives for the year
ending 31 December 2010 which focus on the continuing development of our
portfolio of IP assets. These are:
· Put Poppy Cat into production
· Contract a Poppy Cat master toy partner
· Sign up at least two more major retailers for Scarlett & Crimson in the UK
in addition to Boots
· Sign two additional categories for licensing Scarlett & Crimson in the US
· Put at least 2 TV series into development for delivery from 2011
As can be seen both from the announcements we have made to date and from my
report as set out above, we have made good progress toward achieving our KPIs
for the year and I look forward to reporting more fully in this regard at the
year end.
Prospects
We firmly believe that the exciting assets we have in our portfolio will deliver
attractive organic growth to the group. We also expect to pursue growth through
acquisition, with this remaining a core motivation for the group for the
foreseeable future. As a result of the timing of this year's television
production activity we expect the second half of the year to be considerably
stronger than the first. We remain confident in the trading outlook for the
Company and are on course to meet expectations for the full year.
Consolidated Interim Statement of Comprehensive Income
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | 6 | | 6 | | 18 |
| | | months | | months | | months |
| | | to | | to | | to |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | 30 June | | 30 June | | 31 Dec |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | 2010 | | 2009 | | 2009 |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | unaudited | | unaudited | | audited |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | GBP | | GBP | | GBP |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| | | | | | | |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| Gross income | 961,670 | | 2,058,899 | | 6,689,557 |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| | | | | | | |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| Revenue | | 961,670 | | 1,372,415 | | 3,357,326 |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
| Cost of sales | (286,966) | | (440,665) | | (1,319,874) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Gross profit | 674,704 | | 931,750 | | 2,037,452 |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Operating expenses | (658,257) | | (636,072) | | (1,834,996) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Earnings before interest, tax, | 16,447 | | 295,678 | | 202,456 |
| depreciation, amortisation, | | | | | |
| share-based payment costs and | | | | | |
| exceptional items | | | | | |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Depreciation | (9,176) | | (9,698) | | (24,386) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Share-based payment costs | - | | (19,128) | | (69,150) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Exceptional items | - | | - | | (364,141) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Amortisation of intangible | (348,989) | | (389,440) | | (1,002,377) |
| assets | | | | | |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Total administrative costs | (1,016,422) | | (1,054,338) | | (3,295,050) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Operating loss | (341,718) | | (122,588) | | (1,257,598) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Interest charged | (32,405) | | (30,732) | | (125,707) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Interest received | 93 | | (211) | | 1,125 |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Loss before income tax | (374,030) | | (153,531) | | (1,382,180) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Income tax credit | 87,236 | | 97,003 | | 261,346 |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Loss after tax | (286,794) | | (56,528) | | (1,120,834) |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Other comprehensive income | - | | - | | - |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| Total comprehensive loss for | (286,794) | | (56,528) | | (1,120,834) |
| the period | | | | | |
+------------------------------------+-------------+----------+-------------+----------+-------------+
| | | | | | | |
+---------+--------------------------+-------------+----------+-------------+----------+-------------+
Coolabi (LSE:COO)
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