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financial summary

key highlights FY:2010

  • total revenues up 3% to £9.85 million (FY2009: £9.60 million)
  • adjusted operating profit* up 33% to £2.27 million (FY2009: £1.71 million)
  • EBITDA before exceptional items up 42% to £2.85 million (FY2009: £2.01 million)
  • profit before tax up 15% to £2.04 million (FY2009: £1.78 million)
  • net operating margins 19% (FY2009: 17%)
  • net cash balance £2.40 million (FY2009: £4.00 million)
    earnings per share:
           - fully diluted earnings per share 4.75 pence (FY2009: 5.26 pence)
           - adjusted fully diluted earnings per share 6.18 pence (FY2009: 5.43 pence)**

Notes
**Adjusted operating profit comprises operating profit before exceptional items
** As a result of the recognition of a deferred tax asset, the Directors consider that it is appropriate to provide information on a pre-deferred tax fully diluted earnings per share basis 

income statement

Consolidated income statement for the year ended 31 March 2009

year end - 31
March 2010 (£'000)

year end - 31
March 2009 (£'000)

Turnover

Cost of sales

9,849

(3,694)

9,601

(4,477)

Gross profit

Overheads:

Distribution costs

Adminstrative expenses (including exceptional costs of £348,000, FY2009: £106,000)

6,155

 

(1,370)

(2,868)

5,124

 

(1,075)

(2,449)
(4,238) (3,524)

Operating profit

Operating profit before exceptional items

Share based payment expense

Re-organisation costs

Onerous contract costs

1,916

2,265

(22)

169

 (157)

1,600

1,706

(106)

-

-

Operating profit after exceptional items

1,917 1,600

Finance income

Finance costs

119

-

179

(2)

Net finance income

119 177

Profit before income tax

Income tax

2,036

(471)

1,777

(54)

Profit for the year 1,565 1,723
Attributable to equity holders of the Company 1,565 1,723

Earnings per ordinary share

Basic

Diluted

 

5.29

4.75

 

5.85

5.26

The operating profit for both years arises from the Group’s continuing operations. As permitted by Section 408 of the Companies Act 2006, the profit and loss account of the parent company is not presented as part of these accounts. The parent company’s profit, in accordance with UK GAAP, for the financial year amounted to £43,000 (FY2009: £10,000 profit).

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company information

Head Office address
Cranford House, Kenilworth Road,
Leamington Spa, Warwickshire,
CV32 6RQ

Group website
www.focus-solutions.co.uk

Market cap (millions)
14,724,000 (6 July 2010)

Trading System
SEAQ

Market
AIM

Stock Exchange Symbol
FSG

trading information

Primary country
listing

 UK

Status

Full

Segment

AIMI

FTSE Sector

 Software & Computer Services

FTSE Sub Sector

 Software

share information

Focus Solutions Group shares are traded on the
AIM and Plus markets.

No of securities in issue
The Company’s issued share capital consists of
29,746,010 Ordinary Shares with a nominal
value of 10 pence.

Shares not in public hands
29.0% as at 6 July 2010

Restrictions on transfer
There are no restrictions on the transfer of shares.

key financial data - latest results

FY2010 (£'000) FY2009 (£'000) FY2008 (£'000)

Turnover

 9,849 9,601 8,600

Operating profit

 1,917 1,600 1,190

Operating profit before exceptional costs

 2,265 1,706 1,461