Aquarius Media plc

December 09, 2009 04:37 ET

Interim Results

                                          AQUARIUS MEDIA PLC
                                     ('Aquarius' or 'the Company')

Business highlights in the period:

    -       New retainers secured over the reporting period
    -       One client renewed for a further twelve month period

Post balance sheet events:

    -       Three new clients secured for two, three and six month periods respectively
    -       One client resigned for a three month period after a six month break


I am pleased to be able to make this report to you as Chairman of the Company and of the Group.

Review of Activities
The  Company's  business activities are conducted through its trading subsidiary, Full  Portion  Media
Limited ("FPM").
FPM  is  a  public  relations business which aims to create, launch and sustain clients  in  prominent
positions  within the media.  With a diverse client base covering industry sectors including business,
property, sport, entertainment, logistics, leisure, food & drink, FPM design and deliver B2C  and  B2B
campaigns  for  clients  aimed at targetting  predefined markets. Strong  media  contacts  across  all
platforms  combined with digital PR skills, places FPM favourably to penetrate these markets,  achieve
results and exceed clients expectations.
FPM  employs high quality staff who benefit from ongoing training and personal development and who are
committed to maintaining good working relationships with both clients and media contacts.
FPM's  ongoing  strategy is to attract more clients who choose to retain FPM as their preferred  media
The  first six months of the period have seen difficult trading conditions as a result of the  current
economic  climate.   FPM has continued to attract new public relations clients  across  a  variety  of
sectors  and  is pleased with the quality and nature of the work that it has been able to  perform  on
their  behalf.  However, FPM has seen a decline both in the number of clients seeking public relations
services  and  in  the level of monthly retainers that they are willing to accept for those  services.
The  Directors  believe that this is a consequence of the increased competition as  more  PR  agencies
chase  the  lower number of clients seeking such services.  A number of clients have also reached  the
end  of  their  agreed period of contract with FPM and have not renewed their retainers, although  the
Directors understand that this is a consequence of them cutting back on their PR expenditure  and  not
due to any service-related issues.

As  a  result, the Company has performed well in maintaining its level of client retainers  against  a
difficult  economic background.  The Directors have continued to monitor operational  costs  and  have
taken the necessary steps to reduce them where relevant.

The  Company  continues to depend upon the support of its major creditors with  whom  it  maintains  a
constant communication.

Post balance sheet events
Three  new  client  retainers have been secured since the reporting date and one client  has  resigned
after a six month break.  Several proposals are currently in progress and will hopefully be secured by
the New Year.  Securing this business whilst maintaining the existing level of monthly retainers would
allow the Group to move towards a profitable trading position over the next reporting period.

Financial overview
As  at  30  September 2009, shareholders' funds were £99,058 and cash balances were £5,069.  The  loss
before tax and basic loss per share for the period amounted to £43,681 and 0.07p respectively.

The Directors wish to thank the staff of FPM for their efforts during what has been a difficult period
and  are  confident that the Company's progress can be continued over the next reporting period.   The
Directors  will  continue to seek further opportunities to enhance the value of the  business  through
strategic acquisitions and/or mergers.

Teresa Maharajh

For The Period Ended 30 September 2009

                                                        Period           Period               
                                                      01.04.08 to      01.04.08 to       Year ended
                                                       30.09.09         30.09.08          31.03.09
                                                       6 months         6 months         12 months
                                                       Unaudited        Unaudited         Audited
                                                          GBP              GBP              GBP
REVENUE                                                     201,317          321,804          599,281
Cost of sales                                               (7,014)         (68,002)        (106,087)
                                                          _________        _________        _________
GROSS PROFIT                                                194,303          253,802          493,194
Administrative expenses                                   (237,097)        (312,254)        (597,871)
Share-based payments                                              -                -        (450,000)
                                                          _________        _________        _________
LOSS FROM OPERATIONS                                       (42,794)         (58,452)        (554,677)
Finance revenue                                                   -               50               60
Finance charges                                               (887)                -                -
                                                          _________        _________        _________
LOSS BEFORE TAX                                            (43,681)         (58,402)        (554,617)
Taxation                                                          -                -                -
                                                          _________        _________        _________
LOSS FOR THE PERIOD                                        (43,681)         (58,402)        (554,617)
                                                          _________        _________        _________
Basic and diluted loss per share (note 1)                   (0.07)p          (0.07)p          (0.85)p

Notes to the financial information

1.      The  calculation of loss per share is based on the loss on ordinary activities after  taxation
        and the weighted average number of shares of 65,166,666 in issue during the period.  Due to the loss
        incurred in the period under review, the dilutive securities have no effect as at 30 September 2009.

2.      While  the financial information included in this announcement has been computed in accordance
        with International Financial Reporting Standards (IFRS), this announcement does not itself contain
        sufficient information to comply with IFRS.  The full financial statements of the company will be
        prepared in accordance with IFRS, International Accounting Standards and their interpretations issued
        or adopted by the International Accounting Standards Board as adopted for use in the European Union.

3.      The  financial information has not been audited or reviewed by the auditors, or extracted from
        audited information.  This financial statement does not constitute statutory accounts within the
        meaning of Section 435 of the Companies Act 2006 (the "Act").

4.      The Directors have not declared a dividend for the period.

5.      This  statement  was approved by the Board of Directors on 8 December 2009.   Copies  of  this
        statement will be available free of charge from the Company's Registered Office at Hilden Park House,
        79 Tonbridge Road, Hildenborough, Kent  TN11 9BH.

Registered No. 06138814

Teresa Maharajh                                   0845 225 1500
PLUS Corporate Adviser                                         
Carolyn Hazard                                                 
Fisher Corporate plc                              020 7388 7000

Contact Information

  • Aquarius Media plc