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DJ Netalogue Technologies Plc Interim Results and Dividend

 
TIDMNTLP 
 
10th December 2015 
 
Dear Shareholder, 
 
I am pleased to report the continuing investment in our technology and business 
strategies have contributed to a profitable first-half performance. 
 
Our intellectual property, the foundation of our business and our strategy, 
underpins direct sales of B2B ecommerce solutions to manufacturers, 
distributors and wholesalers along with the licensing of the NetalogueT B2B 
Ecommerce Platform via strategic ERP and cloud related channel partnerships. 
 
Key Highlights 
 
  * First half sales of GBP552,000 with EBITDA of GBP63,000. 
 
  * Net assets of GBP809,000 with strong cash balances and no borrowings. 
 
  * Interim dividend of 0.246p per share declared payable. 
 
  * New direct business signed with leading companies including Bunzl. 
 
  * New indirect business signed via partnerships with leading distributors of 
    SAP and Sage products. 
 
  * Growth in annuity revenues notwithstanding strategic withdrawal from 
    hosting business and associated revenues. 
 
  * New product launch and first sale of NetalogueT Lite - a quick to deploy 
    product aimed predominantly at resellers whose customers require a more 
    basic B2B ecommerce cloud based offering. 
 
  * Continued investment into the NetalogueT B2B Ecommerce Platform 
    functionality, particularly in relation to platform delivery, mobile and 
    cloud ecommerce technologies. 
 
  * A new marketing drive focussing on building brand awareness with larger 
    enterprise manufacturers, distributors and wholesalers and which includes a 
    brand new Netalogue website. 
 
Dividend 
 
 
Netalogue is committed to delivering shareholder value through its dividend 
policy. The calculated amount and frequency of dividends payable is based upon 
income, capital and investment requirements of the main lines of business. With 
a strengthened net asset position, a dividend of 0.246p per share will be 
payable on Friday 8th January 2016. The record date for this dividend is Friday 
18th December 2015 and the Ex. Dividend Date is Thursday 17th December 2015. 
 
Outlook 
 
The NetalogueT B2B Ecommerce platform delivers significant value for 
manufacturers, distributors and wholesalers that require enterprise B2B 
ecommerce webstores and portals which are able to integrate deeply with the 
World's major ERP platforms. 
 
Although increasingly reminded of uncertainties in the wider economy, we remain 
committed to our direct marketing and reseller orientated strategies which are 
all generating market awareness and contributing sales. Whilst awareness of 
ecommerce has been predominantly led by B2C operators, B2B Ecommerce is 
becoming more recognised and Netalogue were pleased to sponsor and exhibit at 
December's European B2B Online event held in Canary Wharf. Whilst several of 
these events have been held in the USA, this was the first time this event has 
been held in Europe in recognition of anticipated rising European B2B ecommerce 
budgets. 
 
We remain confident in our growth strategies and of our technologies increasing 
relevance to a growing and yet still largely immature, global B2B ecommerce 
technology market. 
 
I look forward to updating you in due course. 
 
Geoff Henderson 
Chairman 
Netalogue Technologies plc 
www.netalogue.com 
 
 
Netalogue Technologies PLC 
Consolidated profit and loss account 
for the period ended 30 September 2015 
 
                                                     Six months    Six months 
                                                  ended 30 Sept ended 30 Sept 
                                                           2015          2014 
 
                                                           GBP000          GBP000 
 
Turnover                                                    552           689 
 
Cost of sales                                              (15)          (28) 
 
Gross profit                                                537           661 
 
Net operating expenses                                    (499)         (496) 
 
Operating profit before depreciation and                     63           211 
amortisation 
 
Depreciation                                                (5)           (6) 
 
Amortisation of intangible assets                          (20)          (40) 
 
Operating profit on ordinary activities before               38           165 
taxation 
 
Tax on loss on ordinary activities                          (8)          (33) 
 
Profit for the period                                        30           132 
 
 
 
Netalogue Technologies PLC 
Consolidated balance sheet 
at 30 September 2015 
 
                                                        30 Sept       30 Sept 
                                                           2015          2014 
 
                                                           GBP000          GBP000 
 
Fixed assets 
 
Intangible                                                   40           192 
 
Tangible                                                     31            38 
 
                                                             71           230 
 
Current assets 
 
Debtors                                                     133           428 
 
Cash at bank and in hand                                    807           345 
 
                                                            940           773 
 
Creditors:  amounts falling due within one year           (195)         (245) 
 
Net current assets                                          745           528 
 
Total assets less current liabilities                       816           758 
 
Creditors: amounts falling due after more than                -             - 
one year 
 
Provision for liabilities and charges                       (7)           (7) 
 
Net assets                                                  809           751 
 
Capital and reserves 
 
Share capital                                               487           487 
 
Share premium account                                       210           210 
 
Profit and loss account                                     112            54 
 
Equity shareholders' funds                                  809           751 
 
The profit and loss account and balance sheet above have been prepared in 
accordance with the accounting policies, as stated in the Group's Annual Report 
and Accounts for the year ended 31 March 2015. The interim financial statements 
are unaudited and no review opinion is issued by the auditors of the group. 
 
 
 
END 
 

(END) Dow Jones Newswires

December 10, 2015 11:00 ET (16:00 GMT)