Business
Final Results - Replacement
Final Results - Replacement.
About this update from Volvere Plc
[{"type":"text","content":"\n Volvere PLC\n25 May 2007\n\n\n\nThe following amendments have been made to the Final Results announcement \nreleased today at 07.01 under RNS No 2179X.\n\nThree headings were omitted from the previous announcement. These have now been\nadded.\n\nAll other details remain unchanged.\n\nThe full amended text is shown below.\n\n\n\n\n25 May 2007\n\n\nVOLVERE PLC\n\nFINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2006\n\n\nVolvere plc ('Volvere' or 'the Company'), the turnaround investment company,\nannounces its final results for the year ended 31 December 2006.\n\n\nHIGHLIGHTS\n\n • Group net assets: £7.76m (2005: £4.09m) of which cash represented £6.54m\n (2005: £1.14m)\n\n • Group turnover in the year: £13,777,000 (2005: £10,626,000)\n\n • Group profit before tax: £70,000 (2005: loss £63,000)\n\n • Core areas at Vectra continued to perform strongly\n\n • Sira Test and Certification, acquired in 2005, generated £462,000 profit\n before tax, goodwill and group management and service charges (29 September\n - 31 December 2005: £107,000)\n\n • Acquired Sira Environmental and Sira Defence & Security\n\n • Group well positioned to seize opportunities in future\n\n • Basic earnings per share 1.85p (2005: loss 1.64p); diluted earnings per\n share 1.81p (2005: loss 1.64p)\n\n\nCHAIRMAN'S STATEMENT\n\nI am pleased to report on the results for the year ended 31 December 2006.\n\n2006 was a defining year for the Group. We entered the year with two operating\nsubsidiaries and ended it with four as well as a controlling interest in NMT\nGroup PLC. Group turnover is at an all-time high, up 30% on last year, and we\nhave moved from a loss to a small profit. Net assets per ordinary share are up\n31% over the period to £1.41 and our balance sheet is strong.\n\n\nOUTLOOK\n\nThe current period has started strongly. I believe that the value of the\ninvestments that we have made will become increasingly apparent.\n\nLord Kalms of Edgware\nChairman\n\n\nFor further information, please contact:\n\nJonathan Lander, Chief Executive Officer\nVolvere plc + 44 (0) 20 7979 7596\n\nTerry Garrett\nWeber Shandwick Square Mile + 44 (0) 20 7067 0700\n\nTom Hulme\nTeather & Greenwood + 44 (0) 20 7426 9000\n\n\n\nCHIEF EXECUTIVE'S STATEMENT\n\n\nIntroduction\n\nThe three largest operating subsidiaries contributed strongly to group ...