Cantina Augusto plc

June 30, 2009 10:18 ET

Interim Results

                                          CANTINA AUGUSTO PLC
                                            (the "Company")
                     Unaudited Interim Results for the Period Ended 31 March 2009
Cantina Augusto plc today announces its interim results for the period ended 31 March 2009.


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

Review of activities

Since  admission  to  PLUS  markets in October 2007 the Company has traded through  its  wholly  owned
subsidiary  Cantina Augusto (Clerkenwell Road) Limited ("Cantina") which has been  established  as  an
Italian  restaurant for over 30 years. Despite difficult economic conditions Cantina has  successfully
managed  to  maintain  a  similar  level of turnover to that achieved  in  the  previous  six  months,
principally influenced by its long standing reputation in the Clerkenwell Road.

The  Directors continue to pursue their strategy of seeking suitable locations for Italian restaurants
similar to Cantina but, as previously reported this is taking longer than envisaged. Nevertheless  the
Directors remain optimistic that under the guidance of their advisers, this strategy will be achieved.

Financial Overview

The results for the six months reflect the trading revenues and expenses of the business together with
the financial costs of the plc which are reflected in administrative expenses. The loss for the period
amounted to £104,000, and the loss per share was 0.82 pence.


The  Directors still believe the current recession will present opportunities to pursue the investment
strategy and negotiations are at an advanced stage to acquire another Italian restaurant in the London
area. This does, however, need additional capital the raising of which is receiving urgent attention.

M Nash

PROFIT AND LOSS ACCOUNT                                                                                     
For the period ended 31 March 2009                    Period ended           Year ended       Period ended  
                                                          31 March         30 September           31 March  
                                                              2009                 2008               2008  
                                                       (unaudited)            (audited)        (unaudited)  
                                          Notes            £ ' 000              £ ' 000            £ ' 000  
Turnover                                                       177                  378                186  
Cost of sales                               1                (146)                (275)              (138)  
Gross (Loss) / Profit                                           31                  103                 48  
Administrative expenses                     1                (130)                (281)              (122)  
Operating (Loss)                                              (99)                (178)               (74)  
Interest payable and similar charges                           (5)                  (7)                (6)  
Interest receivable and similar charges                          -                    -                  -  
(Loss) on ordinary activities before                         (104)                (185)               (80)  
Taxation                                                         -                    -                  -  
Retained (Loss) / Profit for the period                      (104)                (185)               (80)  
Earnings per ordinary share                                (0.82)p              (1.58)p            (0.65)p  
Basic and fully diluted                                                                                     

Note  1:  the  March 2008 interim figures have been restated here, after the Company's policy  of  expense  
classification  was changed. This restatement is to bring the 2008 interim figures in  line  with  current
expense classification policy.

All results derive from continuing operations of the Company.

Interim Financial Information

The  unaudited  interim financial information, which is the responsibility of the  directors  and  was
approved by them on 24 June 2009 does not constitute statutory accounts within the meaning of  Section
240 of the Companies Act 1985.


Copies of this Interim statement are available from the Company at its registered office, for a period
of one month, free of charge.

The directors of the Company accept responsibility for this announcement.

                                               - ends -


Cantina Augusto Plc:      Adriano Barnabei           Tel: 0207 242 3246

Fisher Corporate Plc:     Gary Miller                Tel: 0207 388 7000

Contact Information

  • Cantina Augusto plc