TYI Holdings

June 30, 2008 09:54 ET

Interim Results to 31 March 2008


                                                TYI HOLDINGS PLC

                                        Interim Results to 31 March 2008

Chairman's Statement

June 2008

The board of directors have pleasure in presenting the Company's accounts for the six months to 31 March 2008.

Since the beginning of the financial year Transform Your Images (TYI) has grown considerably with the opening of
4 new stores giving a total of 9 locations through out the UK.  The first new store was opened in March at
Nottingham's Victoria Centre which was followed by two store openings in April at Manchester's Arndale Centre and
Edinburgh's Princess Street.  June saw the opening of the fourth store in Telford Shopping Centre.

Turnover during the period under review was in line with directors' expectations and has increased significantly
since the 6 month end in conjunction with the new store openings.  This trend is expected to continue throughout
the remainder of 2008 as a minimum 4 new stores are opened that have already been secured in some of the
countries most prestigious shopping centres including Bluewater Shopping Centre, Kent; Highcross Shopping Centre,
Leicester; Cabots Circus, Bristol & Westfield; White City, London.

The Company's e-commerce website was updated and re-launched at the beginning of the year and has seen a steady
increase in online orders.  This has been supported by new online marketing strategies which are believed will
further improve online sales in the future.

To continue with organic growth and profitability the directors have also concentrated on improving gross margins
by reviewing its supply chain in conjunction with launching a new range of products including a range of acrylic,
blockmount and fotoblocks that all enhance the image and brand of TYI.

On 12 May 2008, TYI Holdings Plc was admitted to the PLUS market and successfully raised £200,000, before
expenses, through the Placing of 357,142 new Ordinary Shares at the Placing Price of 56p per ordinary share to
assist in funding its growth plans for the remainder of the year which in the directors opinion is currently on

Roy Stanley


                             TYI HOLDINGS PLC

                          PROFIT AND LOSS ACCOUNT

              FOR THE PERIOD 1 OCTOBER 2007 TO 31 MARCH 2008

                                                 Unaudited      Audited

                                               6 Months to   Year ended
                                                  31/03/08     30/09/07

                                                     £             £

Turnover                                          591,797       633,093

Cost of sales                                     328,465       349,003

Gross profit                                      263,332       284,090

Distribution costs                                    952         1,192

Administrative expenses                           103,110        83,587

Operating profit                                  159,270       199,311

Interest receivable and similar income              2,702         1,753
Interest payable and similar charges                    -          (122)

Profit on ordinary activities before              161,972       200,942

Tax on profit on ordinary activities               32,880        40,791

Profit for the financial period                   129,092       160,151

The Interim accounts have not been audited or reviewed by TYI Holdings auditors.

The comparative figures for the year ended 30 September 2007 relate to TYI Limited which had its entire share
capital acquired by TYI Holdings Plc on 1 November 2007 and these accounts have been audited.

The Directors of TYI Holdings Plc accept responsibility for this announcement.

Contact Information:


TYI Holdings Plc
Alex Noble/Andrew Snell
Telephone: 0191 258 4868

Corporate Advisers:

St Helen's Capital Plc
Duncan Vasey/Barry Hocken
Telephone: 020 7628 5582

TYI Holdings

Contact Information

  • TYI Holdings