Business
Preliminary Results for the year to 30 June 2019
Preliminary Results for the year to 30 June 2019.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 2257S Plexus Holdings Plc 05 November 2019 \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n5 November 2019\n \n \n \n \nThis announcement contains inside information\n \nPlexus Holdings plc ('Plexus' or 'the Group')\nPreliminary Results for the year to 30 June 2019\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 2019.\n \nFinancial and Corporate Overview \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 £3,611k (2018: £318k)\no Discontinued operations sales revenue £nil (2018: £3,907k)\n· Adjusted EBITDA on continuing activities (£2.51m) loss (2018: £3.74m loss)\n· Continuing operations operating loss £4,010k (2018: £5,285k)\no Discontinued operations operating loss £108k (2018: £1,593k)\n· Continuing operations operating loss after tax £3,227k (2018: £4,694k)\no Discontinued operations loss after tax £88k (2018: £4,322k profit)\n· Basic loss per share from continuing activities 3.12p (2018: 4.45p loss)\no Basic loss per share from discontinued activities 0.09p (2018: 4.10p earning)\n· Net cash of £5.08m (2018: net cash £12.9m) \n· The Group has £2.84m in high-yield bonds (2018: £2.12m)\n· February 2019 - Buyback of 4,950,495 Ordinary Shares held by Russian licensee Gusar at 50.5p per share to accelerate the completion of Plexus' sale of two POS-GRIP Jack-up exploration wellhead sets and associated equipment to Gusar ahead of initial rental order in Russia with Gazprom\n· April 2019 - Payment of aggregate £1.0m special interim d...