QUAYLE MUNRO HOLDINGS PLC 
By
• Revenue from continuing operations of £5.3m compared with
£11.5m last year.
• Re-stated profit before tax £0.01m (2011 - £3.0m).
• Statutory (loss)/profit before tax, including the impact of
share awards, bonus payments and goodwill impairment charges
£(8.1)m (2011 - £0.2m).
• Final dividend of 22p per share. Total dividends 33p per
share (2011 - 32p per share).
• Net asset value per share at 30 June 2012, 696p per share,
(2011 - 908p per share), including cash balances of £14.9m,
327p per share (2011 - 384p per share).
• Basic losses (183.4)p per share (2011 - (23.2)p) with fully
diluted losses of (169.3)p per share (2011 - (21.2)p).
• Completion of disposal of Edinburgh advisory business to
its management, after the year end.
• Advised on a number of major transactions, for companies
including Virgin Group, Doctors.net.uk
Limited, Sagient Research Systems Inc and Firstassist Legal
Expenses.
• Good pipeline of work, starting the current year with a
high level of revenues.
"Last year's results were adversely affected by the timing of deal completions; a number of these deals have now completed and as a result the current financial year has begun strongly. This, taken together with an encouraging pipeline of new business and a significantly lower cost base, promises well for the year and we are confident in achieving a good result for our shareholders".
For further information: Quayle Munro Holdings PLC Andrew Tuckey, Chairman 020 7907 4200 Nplus1 Brewin LLP (Nominated Advisor) Sandy Fraser 0131 529 0272 Smithfield (Financial PR) John Kiely 020 7360 4900 Chairman and Chief Executive's statement Results
Last year was a difficult year for the Group: revenues were
significantly down, we reorganised our operations in
Edinburgh and decided to impair part of the goodwill carried
on our balance sheet.
A summary of the Group's results is shown below. As in the
previous year, we show the (loss)/profit before tax both as
set out in the statutory accounts and as adjusted for the
share scheme component in our remuneration. Under IFRS 2 (the
accounting standard) we are required to amortise the costs of
share issues over the awards vesting period; however, the
Board regards the decision to award shares as a substitute
for a cash bonus as a commitment at the time it is made
because these awards have been allocated from the bonus pool
in each year. Accordingly, the table below shows the effect
on profits if all the commitments to award shares are charged
against the year when they are made. In addition, the table
shows the Group's pre tax (loss)/profit adjusted for non
recurring items:
2012 2011 2010
£'000 £'000 £'000
(Loss)/profitbeforetax
