02/12/2009
Half-yearly Report

GREEN CHEMICALS PLC

Interim Results

For the six months ended 30 September 2009

green chemicals plc (the "Company"), the PLUS Markets-listed developer of "cleaner, greener", more environmentally-friendly pre-treatment and dyeing processes for natural fibres, flame retardant treatments for fabrics and hair colorant/de-colorant technologies, announces its results for the six months ended 30 September 2009.

CHAIRMAN'S STATEMENT

Overview

The first half of the current financial year has proved slower than anticipated in securing commercial partners or licensees for our range of proprietary fabric and paper fire retardant treatments, natural fibre pre-treatment and dyeing, and hair lightening and colouration treatments.

Our products are under review with a number of international organisations who may decide to enter negotiation for commercialisation rights.

Financial Review

The loss of £360,318, after financing costs, is in line with the Directors' expectations and reflects the continued investment over the period in obtaining regulatory approvals for and commercialising the Company's fabric and hair colorant/de-colorant treatments for a range of applications.

Prospects

I continue to be confident of further progress and perceive the period under review as one of consolidation in terms of focusing our developed technologies for external review and examination by major conglomerates in both the chemical and consumer products sectors.

Alison Fielding

Chairman

01 December 2009

Enquiries: green chemicals plc, Stephen Winston CEO: 0113 3910061
 
Religãre Hichens, Harrison plc, Daniel Briggs: 020 7444 0503
 
 
 
 
 
GREEN CHEMICALS PLC 
 CONSOLIDATED PROFIT AND LOSS ACCOUNT 
 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009 
 
 
  Unaudited Audited
 6 months to Year to
 30 September 2009 31 March 2009
 £  £
 
Turnover 3,450 -
 
Administrative expenses (377,302) (830,475)
Other operating income - 100
 
Operating loss  (373,852) (830,375)
 
Other interest receivable and similar 161 10,914
income  
Interest payable and similar charges (28,412) (34,102)
 
Loss on ordinary activities before (402,103) (853,563)
taxation  
 
Tax on loss on ordinary activities 41,785 33,657
  
Loss for the period (360,318) (819,906)
 
Earnings per ordinary share 
- Basic  (4.4890)p (10.2385)p 
- Diluted (4.4890)p (10.2385)p
 
 
 GREEN CHEMICALS PLC 
 CONSOLIDATED BALANCE SHEET  
 AS AT 30 SEPTEMBER 2009 
 
 
 Unaudited Audited
 30-Sep 31-Mar
  2009 2009
 £ £
 
Fixed assets 
Intangible assets  2,234,750 2,388,871
Fixed assets 25,513 12,050
 
 2,260,263 2,400,921
  
Current assets 
Debtors 59,714 15,003
Cash at bank & in hand 271,440 241,180
  
 331,154 256,183
 
Creditors: 
Amounts falling due within one (892,109) (597,478)
year 
 
Net current assets (560,955) (341,295)
 
Total assets less current 1,699,308 2,059,626
liabilities 
 
Capital & reserves 
Called up share capital 401,338 401,338
Share premium account 3,247,662 3,247,662
Profit and loss account (1,949,692) (1,589,374)
 
Shareholders' funds 1,699,308 2,059,626
 
 
 
 
 GREEN CHEMICALS PLC 
 CONSOLIDATED CASH FLOW STATEMENT 
 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009 
 
 
 Unaudited Audited
 
 6 months to Year to
  
 30-Sep-09 31-Mar-09
 
 £ £
  
Net cash outflow from operating (204,518) (507,675)
activities 
 
Returns on investments and 
servicing of finace 
Interest received 161 10,914
 
Net cash inflow for returns on 
investments and servicing of
finance 161 10,914
 
Taxation  - 33,657
 
Acquisitions and disposals 
Purchase of tangible fixed assets (15,383) (12,469)
  
Net cash outflow for acquisitions (15,383) (12,469)
and disposals 
 
Net cash outflow before management  
of liquid resources and financing (219,740) (475,573)
 
Financing 
Issue of ordinary share capital  - 250,000
Other new short term loans 250,000 250,000
 
Net cash inflow from financing 250,000 500,000
  
Increase in cash in the period 30,260 24,427
 
 
 
 
 GREEN CHEMICALS PLC 
 NOTES TO THE INTERIM RESULTS 
 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009
 
 
1. FINANCIAL INFORMATION
 
The interim results for the six months ended 30 September 2009 are unaudited,
have not been reviewed by the company's auditors, and do not constitute
statutory accounts within the meaning of section 396 of the Companies Act 2006.
They have been drawn up using accounting policies and presentation consistent
with those applied in the audited accounts for the year ended 31 March 2009. A
copy of the 2009 statutory accounts has been filed with the Registrar of
Companies. The auditors' opinion on these accounts was unqualified and
contained no statement under section 237(2) or (3) of the Companies Act 1985.
 
Copies of the interim report are available to the public for at least one
month, free of charge at the registered office at 65 New Cavendish Street,
London W1G 7LS and at the company's website at www.greenchemicalsplc.com
 
2. EARNINGS PER ORDINARY SHARE
 
Basic earnings per share are calculated using the weighted average of 8,026,752
(31/3/2009: 8,008,072) ordinary shares in issue during the period.
 
3. DIVIDEND
 
No interim dividend is declared on the ordinary shares.
 
 
 
 
 GREEN CHEMICALS PLC 
 NOTES TO THE INTERIM RESULTS 
 FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2009 
 
 
4. Reconciliation of operating loss to Unaudited Audited 
 net cash outflow from operating 6 months to Year to 
 activities 30-Sep-09 31-Mar-09 
 £ £ 
  
 Operating loss (373,852) (830,375) 
 Depreciation of tangible assets 1,920 1,604 
 Amortisation of intangible assets 154,121  308,241 
 Decrease / (increase) in debtors (2,926) 31,109 
 (Decrease) / increase in creditors 16,219 (18,254) 
 within one year  
 
 Net cash outflow from operating (204,518) (507,675) 
 activities 
  
 
5 Analysis of net funds At 1 April Cash Flow At 30
 2009 September
  2009
 £ £ £
 
 Net cash:  
 Cash at bank and in hand 241,180 30,260 271,440
 
 Debts falling due within one year (500,000)  (250,000) (750,000)
 
 Net funds (258,820) (219,740) (478,560)
 
  
6 Reconciliation of net cash flow to Unaudited Audited 
 movement in net funds 6 months to Year to 
 30-Sep-09 31-Mar-09 
  £ £ 
 
 Increase in cash in the period 30,260 24,427 
 Cash inflow from increase in debt (250,000) (250,000) 
 
 Movement in net funds in the year (219,740) (225,573) 
  
 Opening net funds (258,820) (33,247) 
 
 Closing net funds (478,560)  (258,820) 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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