Business
Update
Update.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n Interregnum PLC\n21 December 2005\n\n\nRNS Announcement\n\n21 December 2005\n\n INTERREGNUM PLC\n\n\n Trading Update\n\n\nInterregnum plc, the technology merchant bank, provides a trading update for the\nsix months ending 31 December 2005. Interregnum's revenues for the period are\nover £6m, which represents a 90% increase over the same period last year. The\nportfolio has increased in value and Interregnum has achieved operational\nprofitability.\n\n\nTrading Update\n\n\nInterregnum's consolidated revenues for the six months ending 31 December 2005\n(H1 2005-6) will be over £6m (H1 2004-5: £3.3m). This reflects a significant\nincrease in the performance of all three of Interregnum's operating companies;\nInterregnum plc, Audio Visual Machines Ltd (AVM) and Yospace Ltd.\n\n\nHighlights from the key components of Interregnum's business are as follows:\n\n\nQuality and quantity of advisory deals increasing steadily:\n\n\n •Advised on the sale of a £40m portfolio to Coller Capital, which\n generated £700k in net success fees to Interregnum.\n •Client portfolio valuation exercise completed in a month which brought in\n £125k in fees to Interregnum.\n •Interregnum's US operations are growing steadily - DestiNY USA has\n contributed £500k of revenue in the period and the first two significant\n non-Destiny US client mandates have been signed.\n •Eight new corporate finance mandates secured in the period.\n\n\nOperational subsidiaries and investments performing well:\n\n\n •AVM is growing rapidly: November 05 results showed £776k in revenue, with\n £72k profit before tax. AVM is on track to achieve full year targets\n following the successful acquisition of Video Meeting Company in September\n 05.\n •As previewed in the Annual Results for 2004-5, Yospace revenues are\n growing steadily and it has reached operating profitability month-on-month.\n •The funding for Red-M Ltd was completed in December 05 with a successful\n private placing raising £4.6m. The business is well-funded to achieve its\n growth strategy. Interregnum now owns approximately 20% of the issued share\n capital of Red-M, in addition to some secured debt.\n •Respond Ltd is trading very profitably. It is generating cash and\n continuing the repayment of debt to Interregnum ahead of schedule.\n •In a new addition to the portfolio, Interregn...