TIDMILA
RNS Number : 0799S
Ila Group Limited
15 November 2011
ILA GROUP LIMITED
("ILA" or "the Company")
PRELIMINARY RESULTS FOR THE 12 MONTH PERIOD ENDED 30 JUNE
2011
ILA Group Limited (AIM: ILA), the UK based international
marketing and distribution specialist, announces its unaudited
preliminary results for the year ended 30 June 2011.
Highlights:
-- Turnover up 253% to GBP1.76m
-- Acquisition and successful integration of Premium Factory
-- Major contract win from multi-national blue chip customer for
over $800,000 for Premium Factory
-- Performance post year end shows continued growth, new customer interest and opportunities
-- Announcement of rebranding of group name to enable launches
of multiple new brands and product ranges.
Simon McGivern, Executive Chairman of ILA Group Limited
commented:
"2010 has been transformational for ILA Group and we are
continuing to target organic growth by increasing core sales and
product ranges. I am particularly happy with the performance of
Premium Factory, and we are actively considering further
acquisitions. Our targets will have products, routes to market and
production capabilities that can be integrated into ILA's growing
sales and distribution network.
Overall, ILA has made remarkable progress in a short space of
time, and I look forward to reporting further progress in due
course."
For further information, please contact:
ILA Group Limited
Simon McGivern, Chief Executive 0203 384 7134
FinnCap
Charles Cunningham/Ben Thompson - Corporate Finance 0207 600 1658
Joanna Weaving/Victoria Bates - Corporate Broking
Lothbury Financial Services
Gary Middleton 0207 868 2010
Simon Astley
The Annual General Meeting is being held at the offices of
Fladgate LLP at 16 Great Queen Street, London WC2B 5DG on 30
November 2011 at 12.00 noon.
The Report and Accounts have been sent to shareholders and are
available to download from www.ilasecurity.com.
CHAIRMAN'S STATEMENT
The twelve months to 30 June 2011 has been a period of
substantial change and development for ILA Group Ltd ("ILA" or the
"Company"), progressing from a company specialising in its initial
brand "ILA" (innovative personal alarms) to an acquisitive company
with international distribution and marketing expertise. The
company is imminently launching its second brand and is considering
a number of other acquisition opportunities and brand launches.
In the 12 months, the Company has increased its retail footprint
to over 30 countries, and following the acquisition of Premium
Factory now develops and manufactures for blue chip consumer goods
companies such as Nestle and Unilever. The group is also developing
a range of children's products under major licenses, including
Disney and Marvel characters, which it sells through major
high-street retailers.
The start of the financial year saw good trading progress in
line with the planned roll out strategy to new territories and
countries. Initial orders were placed in North America with the
appointment of sales agents in multiple states across the USA. This
is a key first step to establishing a new product range in the US
market. ILA also received its first orders from Abbott in Canada
during December 2010. Sales were introduced across different sales
channels with ILA products appearing on the QVC television channel
in the UK as well as in catalogue companies and through internet
retailers.
In March of 2011 ILA announced its first acquisition of a
private company, Premium Factory Ltd (Premium Factory). Premium
Factory has been fully integrated in the group and enhances a
number of areas of operation within the business. The management
team that joined from Premium Factory have a strong background in
new product development, with wide experience of designing and
manufacturing for major blue chip multinationals. These skills are
complementary to the existing ILA team and should help accelerate
the growth of the group and with the roll out of new products and
brands.
As announced earlier in the year, the group continues to
position itself as an innovative fast growing company with the goal
of supplying major retailers with high quality brand ranges. To
reflect these changes, the company plans to rebrand the Group name.
This will enable us to launch further new brands and ranges,
preventing confusion with the company's first product line, which
also trades under the ILA brand. Subject to successfully passing
the resolutions at the AGM, the group name will change from ILA
Group Ltd. to LiteBulb Group Ltd.
Financial performance
Despite the poor retail climate, we are pleased to report strong
growth over the 12 months with sales more than tripling year on
year to GBP1.76m from GBP501k in 2009/10. Considerable investment
has been made to ensure that the company has the infrastructure to
handle further strong growth over the next 3 years. The loss for
the year (excluding exceptional administrative expenses) was
GBP876,167.
The sales performance for the period was better than budgeted.
This performance reflects the continued efforts of the ILA
management and the positive impact the Premium Factory business and
staff have had on the group.
Current trading and prospects
Post the year end, trading has been most encouraging, including
a large new order announced within the ILA Security range from
Germany and further orders from Scandinavia. As well as this there
have been major orders announced in the Premium Factory
division.
Revenues are significantly ahead of prior periods. The pipeline
of potential demand from around the world is encouraging and we
anticipate good growth for the financial year.
The company is currently launching its next branded product line
"Scootrix" in the area of children's Scooter accessories and is in
talks with a major national retailer. We expect to rapidly increase
the number of products in the range and look forward to providing
further updates on the progress of the brand in due course.
The company is also looking to launch new product lines in the
licensed product markets and is currently in talks with a number of
leading brands. We expect to announce a deal in this area in the
coming months.
We will continue to aggressively target organic growth by
increasing sales and expanding product ranges, and we are also
continuously assessing acquisition opportunities.
Overall, ILA has made good progress in a short space of time,
and I look forward to reporting further progress in due course.
Simon McGivern
14 November 2011
Consolidated statement of comprehensive income
Year 6 months
to 30 to
June 30 June
2011 2010
GBP GBP
Revenue 1,755,901 136,105
Cost of sales (1,281,463) (87,094)
Gross profit 474,438 49,011
Administrative
expenses (1,350,605) (647,763)
Exceptional administrative
expense (96,838) (280,938)
Operating loss (973,005) (879,690)
Finance costs (14,379) (1,333)
Interest income 3,667 40
Loss before tax (983,717) (880,983)
Deferred tax 40,000 123,617
Total comprehensive
loss for the year (943,717) (757,366)
------------ ----------
Loss per share
Basic and diluted
loss per ordinary
share (0.0012) (0.0012)
The above results are derived from continuing activities.
Consolidated statement of financial position
At 30 June 2011
2011 2010
Assets GBP GBP
Non-current assets
Intangible assets 9 956,511 -
Property, plant and
equipment 10 39,258 -
Deferred tax assets 11 163,617 123,617
Current assets
Inventories 13 360,418 60,922
Trade and other receivables 14 764,549 295,764
Cash and cash equivalents 15 383,294 163,958
1,508,261 520,644
------------- -------------
Total assets 2,667,647 644,261
============= =============
Equity and liabilities
Capital and reserves
attributable to equity
shareholders
Issued share capital 16 16,127,970 13,480,954
Contingent consideration
reserve - 972,725
Share based payment
reserve 102,148 102,148
Reverse acquisition
reserve (13,221,177) (13,221,177)
Retained earnings (1,948,288) (1,004,571)
Total equity 1,060,653 330,079
------------- -------------
Non-current liabilities
Interest bearing
borrowings 19 478,273 98,456
Current liabilities
Trade and other payables 20 938,980 184,727
Interest bearing
borrowings 19 189,741 30,999
1,128,721 215,726
------------- -------------
Total equity and
liabilities 2,667,647 644,261
============= =============
Consolidated statement of cash flows
Year 6 months
to 30 to 30
June June
2011 2010
GBP GBP
Cash flows from operating
activities
Loss after tax (943,717) (775,366)
Non-cash adjustments
Increase in deferred
tax assets (40,000) (123,617)
Amortisation 14,038 -
Depreciation 4,974 -
Write off goodwill - 30,990
Arbuthnot fee - 35,795
Share based payments - 35,550
Increase in working
capital
Increase in inventories (182,775) (44,729)
(Increase)/decrease
in trade and other
receivables (232,378) 68,998
Increase in trade
and other payables 20,176 23,130
Net cash flows from
operating activities (1,359,682) (749,249)
Cash flows from financing
activities
Repayment of bank
loans (134,806) (15,230)
Purchase of fixed (34,208)
assets -
Product development (49,136)
costs -
Proceeds of fixed 34,991
asset disposals -
Acquisition cash 87,935 672,010
Purchase of subsidiary (49) -
Shares issued 1,674,291 -
Net cash from financing
activities 219,336 (92,469)
Opening cash 163,958 256,427
Closing cash 383,294 163,958
------------ ----------
Consolidated statement of changes in equity
Share
Contingent Reverse based
Share consideration Share acquisition payment Retained Total
capital reserve premium reserve reserve earnings equity
GBP GBP GBP GBP GBP GBP
Group
Balance 31
December
2010 as restated 1,189 - 273,823 - 84,598 (247,205) 112,405
Comprehensive
income:
Loss for
the period (757,366) (757,366)
Shares issued
in period
Initial Consideration
Shares 659,614 - - - - - 659,614
Contingent
Consideration
Shares 262,081 - - - - 262,081
To Nomad 35,795 - - - - - 35,795
Share based
payment - - - - 17,550 - 17,550
IFRS 3 reverse
acquisition
conversion 12,784,356 710,644 (273,823) (13,221,177) - - -
At 30 June
2010 13,480,954 972,725 0 (13,221,177) 102,148 (1,004,571) 330,079
Shares issued
in period
Contingent
consideration 972,725 (972,725) - - - - -
Cash 1,674,291 - - - - - 1,674,291
Comprehensive
income:
Loss for
the year - - - - - (943,717) (943,717)
At 30 June
2011 16,127,970 - - (13,221,177) 102,148 (1,948,288) 1,060,653
----------- --------------- ---------- ------------- --------- ------------ ----------
1. Basis of preparation
The financial information for the year ended 30 June 2011 has
been prepared using the recognition and measurement principles of
International Accounting Standards, International Financial
Reporting Standards and Interpretations adopted for use in the
European Union (collectively Adopted IFRSs). The financial
information for the year ended 30 June 2011 is unaudited and does
not constitute the Group's statutory financial statements for the
year. The comparative financial information for the full year ended
30 June 2010 has, however, been derived from the audited statutory
financial statements for that year. A copy of those statutory
financial statements is being delivered to the Registrar of
Companies. The auditors' report on those accounts was unqualified,
did not include references to any matters to which the auditors
drew attention by way of emphasis without qualifying their report
and did not contain a statement under section 498(2)-(3) of the
Companies Act 2006.
2. Segment information
As the Company operates in one business segment and as such this
is the primary reporting segment. The Company's secondary segment
is geographical. The segmental results by geographical area are
shown below:
2011 2010 2011 2010
Sales Sales Assets Assets
GBP GBP GBP GBP
UK 912,763 15,560 1,257,949 76,222
EU 52,071 61,037 5,542 6,568
North America 152,851 56,259 314,588 47,550
Rest of the World 638,216 3,249 4,538 226,346
1,755,901 136,105 1,582,617 356,686
---------- -------- ---------- --------
3. Loss per share
The calculation of basic loss per share is based on the loss
attributable to ordinary shareholders and the weighted average
number of ordinary shares in issue during the period.
The calculation of diluted loss per share is based on loss per
share attributable to ordinary shareholders and the weighted
average number of ordinary shares that would be in issue, assuming
conversion of all dilutive potential ordinary shares into ordinary
shares.
Reconciliations of the loss and weighted average number of
shares used in the calculations are set out below:
Year 6 months
to 30 to 30
June June
2011 2010
GBP GBP
Basic loss per share
Reported loss (943,717) (775,366)
Reported loss per
share (pence) (0.0012) (0.0012)
2011 2010
Weighted average
number of ordinary
shares:
Shares issued for
ILA Security Ltd 388,600,221 388,600,221
Contingent Consideration
shares issued (see
note 24) 154,400,846 154,400,846
Effect of ILA shares
post-reverse acquisition 146,300,787 95,378,414
effect of shares
issued to NOMAD 5,681,819 3,704,169
Shares issued on
5 August 2010 24,437,306 -
Shares issued on
24 December 2010 60,583,562 -
Weighted average
number of ordinary
shares 780,004,541 642,083,650
------------ ------------
Due to the Group's loss for the period, the diluted loss per
share is the same as the basic loss per share.
4. Share capital
Allotted and called up:
2011 2010 2011 2010
Authorised
Founder shares of
no par value 10 10
Ordinary shares
of no par value Unlimited Unlimited
GBP GBP
Issued and fully
paid
Founder shares of
no par value 2 2 - -
Ordinary shares
of no par value 839,012,814 540,582,827 16,127,970 13,480,954
On 19 February 2009, the Company purchased 30,000,000 if its own
shares for 1p per share. The closing middle market price on 26
February 2009 (being the last practicable date before publication
of the relevant announcement) was 1.25p per Share.
On 5 March 2010 the Company issued 388,600,221 shares at 0.63p
each as consideration for the reverse acquisition of Ila Security
Ltd and 5,681,819 shares were issued to Arbuthnot Securities Ltd,
the nominated advisor and broker in consideration for services
provided.
On 3 August 2011 the Company issued 27,029,141 shares for cash
at 1p per share.
On 6 December 2010 the Company issued 117,000,000 shares for
cash at 1.2p per share.
On 13 April 2011 the Company issued 154,400,846 Contingent
Consideration Shares.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR BIBDBDUBBGBS
Ila Group (LSE:ILA)
過去 株価チャート
から 11 2024 まで 12 2024
Ila Group (LSE:ILA)
過去 株価チャート
から 12 2023 まで 12 2024
