Cantina Augusto plc

March 14, 2008 13:25 ET

Cantina Augusto plc: Final Results

LONDON, UNITED KINGDOM--(Marketwire - March 14, 2008) -



CANTINA AUGUSTO PLC
(the 'Company')

Final Audited results for the period ended 30 September 2007


Cantina Augusto plc today announces its results for the period from incorporation in July 2006 to 30 September 2007, during which period the Company did not trade.

CHAIRMAN'S STATEMENT

I am pleased to make this statement to you as Chairman of the Company.

Review of activities

Cantina Augusto PLC was incorporated in July 2006 and these financial results reflect the raising of the initial capital to set up the Company to enable the post year-end placing of ordinary shares, which raised Pounds Sterling 210,000 gross of expenses for the purposes of acquiring the restaurant business of Cantina Augusto ('Cantina') and to provide working capital.

The acquisition of Cantina was completed in October 2007 and trading commenced on PLUS.

Financial Results and Business Review

The Company made a loss after taxation of Pounds Sterling 2,000. The Company did not trade during the period. The loss arose from costs incurred for setting up and accountancy.

The first trading results of the enlarged Group will be announced in the interim results to 31 March 2008.

Outlook

Current trading of Cantina is in line with your Board's expectations.

Your Board is actively seeking sites to roll out the 'Cantina' brand in line with the Company's declared objectives as well as pursing suitable acquisitions.

M Nash, Chairman



PROFIT AND LOSS ACCOUNT
For the period ended 30 September 2007

Note Period ended
30 September
2007
Pounds
Sterling 000

Turnover -

Administrative expenses 2
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Operating loss (2)
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Loss on ordinary activities before taxation (2)

Tax on profit on ordinary activities -
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Retained loss for the financial period (2)
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Loss per ordinary share
Basic and diluted 1 (0.03)p



BALANCE SHEET
As at 30 September 2007
2007
Pounds
Sterling 000

Current assets
Debtors 57

Creditors: amounts falling due within one Period (9)
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Net current assets 48
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Net assets 48
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Capital and reserves
Called up share capital 50
Profit and loss account (2)
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Equity shareholders' funds 48
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CANTINA AUGUSTO PLC

Notes to the financial information

1. The calculation of basic earnings per share is based on losses of Pounds Sterling 2,000 and 6,281,250 ordinary shares of 0.8p being the weighted average number of ordinary shares in issue during the period.

2. Post balance sheet events:

- Admission to PLUS Markets on 24 October 2007; and

- Acquisition of the restaurant business of Cantina Augusto in October 2007.

3. The financial information set out above does not constitute full accounts within the meaning of Section 240 of the Companies Act 1985 ('the Act'). Full accounts for the Company for the year, which received an unqualified auditors' report within the meaning of Section 235 of the Act and which will not contain a statement under Section 237 (2) or (3) of the Act, will be posted to shareholders as soon as is practicable.

4. The financial information in this announcement has been extracted from the Company's audited accounts and has been prepared under UK GAAP.

5. This statement was approved by the Board of Directors on 14 March 2008. Copies of this statement will be available free of charge from the Company's Registered Office at Radbourne, 56 Kenilworth Road, Lemington Spa, Warwickshire.

CANTINA AUGUSTO PLC

Registered No. 05881592

Contact Information

  • Cantina Augusto plc
    Mr F E Porter
    01926 888 302
    or
    Fisher Corporate plc
    Gary Miller
    PLUS Corporate Adviser
    020 738 8000