Business
Preliminary Results for the year to 30 June 2018
Preliminary Results for the year to 30 June 2018.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 7019G Plexus Holdings Plc 08 November 2018 \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n8 November 2018\nPlexus Holdings plc ('Plexus' or 'the Group')\nPreliminary Results for the year to 30 June 2018\n \nPlexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces its preliminary results for the year ending 30 June 2018.\n \nFinancial Results \n \nFollowing the completion on 1 February 2018 of the sale of Plexus' wellhead exploration equipment services business for jack-up applications ('the Jack-up Business') to FMC Technologies Limited ('TFMC'), a subsidiary of one of the leading oil and gas service and equipment companies TechnipFMC (Paris:FTI) (NYSE:FTI), the year-end results and comparative prior year period have been reported as required on a continuing and a discontinued operations basis.\n \n· Continuing operations sales revenue £318k (2017: £225k)\no Discontinued operations sales revenue £3,907k (2017: £4,524k)\n· Adjusted EBITDA on continuing activities (£3.74m) loss (2017: £3.58m loss) \n· Continuing operations operating loss £5,285k (2017: £5,275k)\no Discontinued operations operating loss £1,593k (2017: £1,757k)\n· Continuing operations operating loss after tax £4,694k (2017: £4,278k)\no Discontinued operations profit after tax £4,322k (2017: £1,424k loss)\n· Basic loss per share from continuing activities (4.45p) (2017: 4.06p loss)\no Basic earnings per share from discontinued activities 4.10p (2017: 1.35p loss)\n· Net cash of £12.9m (2017: net cash £6.5m) \n· The Group has £2.12m in financial assets, namely high-yield bonds (2017: nil).\n· Whilst the Company remains committed to distributing dividends to its shareholders, the Directors believe that it is prudent to continue the suspension of the payment of dividends. \n \nOverview and Corporate Highlights\n \n· Transformational sale for up to £42.5m, less certain adjustments of Plexus' wellhead exploration and equipment services busine...