You are on page 1of 8

INTEGRATEDLEGALHOLDINGSLIMITED

ACN120394194

ASXAppendix4E

For personal use only

RESULTSFORANNOUNCEMENTTOTHEMARKET

Currentreportingperiod:
Previouscorrespondingperiod:

Yearended30June2008
Periodended30June2007

EARNINGS

Percentagechange
UP(+)/DOWN()

Revenuefromordinaryactivities

Profitfromordinaryactivitiesbeforetax
Profitfromordinaryactivitiesaftertax
attributabletomembers

Netprofitfortheperiodattributabletomembers

significantincrease

10,688,441

significantincrease
significantincrease

2,486,994
1,544,303

significantincrease

1,544,303

DIVIDENDS

Amount
pershare

Finaldividend(fullyentitledshares)
2.2cents
Previouscorrespondingperiod

Recorddatefordeterminingentitlementstothe2008finaldividend
Paymentdatefor2008finaldividend

NETTANGIBLEASSETBACKING

30Jun2008

Amount
$A

Franked
amountper
shareat30%
Australian
taxrate

2.2cents

17October2008
7November2008
30Jun2007

Nettangibleassetbackingpersecurity
11.71
0.00

Basicprofit/(loss)pershare
2.66
(65.50)
Dilutedprofit/(loss)pershare
2.66
(65.50)

Fortheyearended30June2008,theconsolidatedentitygeneratedanetprofitaftertaxof
$1,544,303(2007:$17,368,147loss).

Againstthesameperiodlastyear,earningsbeforeinterest,tax,impairment,depreciation
andamortisationfromcontinuingoperationsincreasedfromalossof$5,164,255toaprofit
of$2,421,039.

Consolidated operating revenues of $10,688,441 were higher than the previous


correspondingyearwhichreported$205operatingrevenues.

TheturnaroundinprofitabilityoftheGrouparisesduetothelistingofthecompanyonthe
ASXon17August2007,theacquisitionofsubsidiariesandcontinuedgrowth.

Asat30June2008,theconsolidatedcashholdingsstoodat$5,626,766.

AUDITREPORT

Thepreliminaryfinalreportisbasedonaccountswhichareintheprocessofbeingaudited.

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

BalanceSheet

Note

ASSETS
CurrentAssets
Cashandcashequivalents
Tradeandotherreceivables
Workinprogress
Capitalisedexpenditure
TotalCurrentAssets

NonCurrentAssets
Plantandequipment
Goodwill
Intangibleassets
Deferredtaxassets
Otherassets
TotalNonCurrentAssets
TOTALASSETS

LIABILITIES
CurrentLiabilities
Tradeandotherpayables
Interestbearingloansandborrowings
Incometaxpayable
Provisions
TotalCurrentLiabilities

NonCurrentLiabilities
Interestbearingloansandborrowings
Provisions
TotalNonCurrentLiabilities
TOTALLIABILITIES
NETASSETS

EQUITY
IssuedCapital
AccumulatedLosses
Reserves
TOTALEQUITY

CONSOLIDATED
30June
30June
2008
2007
$
$

5,626,766
8,788,735
2,651,518

1,084,352


506,872
9,362,636
9,295,607

192,836

6,330,233

136,620

410,647

2,524

7,072,860

16,435,496
9,295,607

1,081,009
9,295,402
169,764

968,272

173,111

2,392,156
9,295,402

18,708

119,986

138,694

2,530,850
9,295,402
13,904,646
205

29,729,975
17,368,352
(15,823,844)
(17,368,147)
(1,485)

13,904,646
205

TheaboveBalanceSheetshouldbereadinconjunctionwiththeaccompanyingnotes
2

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

IncomeStatement

Professionalfees
Interestrevenue
Otherrevenue
Totalrevenue

Occupancyexpenses
Salariesandemployeebenefitsexpenses
Depreciationandamortisationexpenses
Advertisingandmarketingexpenses
Administrativeexpenses
Otherexpenses
Financecosts
Impairmentloss
Sharebasedpaymentsexpense
Totalexpenses
Profit/(loss)beforeincometax
Incometaxexpense
Profit/(loss)afterincometax
Netprofit/(loss)fortheyear

Basicprofit/(loss)pershare(cents)
Dilutedprofit/(loss)pershare(cents)

Note

2(a)

2(b)

2(c)

CONSOLIDATED
2008
2007
$
$
10,175,930

429,609
205
82,902

10,688,441
205

(622,545)

(5,031,511)

(122,799)

(122,592)

(1,495,523)

(108,948)

(75,173)

(215,826)
(12,204,097)
(406,530)
(5,164,255)
(8,201,447)
(17,368,352)
2,486,994
(17,368,147)
(942,691)

1,544,303
(17,368,147)
1,544,303
(17,368,147)

2.66
(65.50)
2.66
(65.50)

TheaboveIncomeStatementshouldbereadinconjunctionwiththeaccompanyingnotes
3

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

CashFlowStatement

Cashflowsfromoperatingactivities
Receiptsfromcustomers
Interestreceived
Otherrevenue
Paymentstosuppliersandemployees
Interestandothercostsoffinancepaid
Incometaxpaid
Netcashinflowsfromoperatingactivities

Cashflowsfrominvestingactivities
Purchaseofplantandequipment
Proceedsfromthedisposalofplantandequipment
Paymentforavailableforsaleinvestments
Paymentfortheacquisitionofbusinessesnetof
cashacquired
Netcashoutflowsfrominvestingactivities

Cashflowsfromfinancingactivities
Proceedsfromloansreceived
Repaymentofborrowings
Paymentforsettlementofliabilityassumedon
acquisitionofLawCentralCoPtyLtd
Proceedsfromissueofshares
Paymentsforshareissueexpenses
Netcashinflowsfromfinancingactivities

Netincrease/(decrease)incashheld
Cashandcashequivalentsatthebeginningofthe
financialyear
Cashandcashequivalentsattheendofthefinancial
year

Note

CONSOLIDATED
2008
2007
$
$

8,002,981

428,661
205
82,902

(7,215,794)

(14,937)

(76,371)

1,207,442
205

(80,826)

1,000

(4,009)

(6,782,695)

(6,866,530)

211,106
506,872
(182,689)

(214,665)

3,628,130
8,788,530
(944,763)
(506,872)
2,497,119
8,788,530

(3,161,969)
8,788,735

8,788,735

5,626,766

8,788,735

TheaboveCashFlowStatementshouldbereadinconjunctionwiththeaccompanyingnotes
4

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

StatementofChangesinEquity

CONSOLIDATED

Balanceasat26June2006
(1)

Lossfortheperiod
(2)

Issueofshares

Issued
Capital

Accumulated
Losses

Net
Unrealised
Gains
Reserve

Balanceasat30June2007

CONSOLIDATED
Balanceasat1July2007
Netfairvaluelossesonavailableforsale
investments

(17,368,147)

(17,368,147)

17,368,352

17,368,352

(17,368,147)

205

17,368,352
(1)&(2)

Issued
Capital

Total
Equity

Accumulated
Losses

17,368,352

(17,368,147)

Total
Equity

205

(1,485)

(1,485)

1,544,303

1,544,303

13,045,708

13,045,708

406,530

406,530

Transactioncostsonshareissues
Incometaxonitemstakendirectlytoor
transferredfromequity

(1,514,575)

(1,514,575)

423,960

423,960

Balanceasat30June2008

(1) Effectsofcorrectionoferrorinprevious
year

(Accumulatedlosses)asreportedinthe
2007financialreport
Correctionoferror(refernote5)
Restated(accumulatedlosses)

29,729,975

(1,485)

13,904,646

Profitfortheperiod
Issueofshares
Sharebasedpayment

(2) Effectsofcorrectionoferrorinprevious
year

Issuedcapitalasreportedinthe2007
financialreport
Correctionoferror(refernote5)
Restatedissuedcapital

Net
Unrealised
Gains
Reserve

(15,823,844)

(18,723,247)
1,355,100
(17,368,147)

(18,723,452)
1,355,100
(17,368,352)

TheaboveStatementofChangesinEquityshouldbereadinconjunctionwiththeaccompanyingnotes
5

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

NotestotheFinancialStatements

1) SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES
ThesepreliminaryconsolidatedfinancialstatementsrelatetoIntegratedLegalHoldingsLimitedand
theentitiesitcontrolledduringtheyearended30June2008.Theaccountingpoliciesadoptedare
consistentwiththosedisclosedinitsmostcurrentfinancialstatements.

2) REVENUEANDEXPENSES

Consolidated

2008
2007
$
$
Revenueandexpensesfromcontinuingoperations

a) Otherrevenue


Rentreceived
81,157

Sundryincome
1,745

82,902

b) Depreciationandamortisationexpenses

Depreciationofplantandequipment
92,951

Amortisationof:
Equipmentunderfinancelease
3,214
Identifiedintangibles
26,634

122,799

c) Financecosts

Interestotherentities
25,029

Badanddoubtfuldebts
16,111

Bankfees
34,033

75,173

3) DIVIDENDSDECLARED

2008
2007

Cents
Total
Cents
Total
pershare
$
pershare
$
a) Dividends declared and not recognised
asaliability

Finaldividend(fullyfranked)
2.2
1,397,843

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

NotestotheFinancialStatements

b) Frankingcreditbalance

Frankingcreditsavailableforthesubsequentfinancialyear:
Frankingaccountbalanceasattheendofthepreviousfinancialyearat
30%(2007:30%)
Frankingcreditsthatarosefromthepaymentofincometaxpayable
duringthefinancialyear
Frankingcreditsthatwillarisefromthepaymentofincometaxpayable
forthefinancialyear
Frankingdebitsthatwillarisefromthepaymentofrecommendedfinal
dividendfortheendofthefinancialyear

4) ISSUEDCAPITAL

a) Ordinaryshares
63,538,320(2007:34,736,704)ordinaryfullypaidshares

Openingbalanceat1July2007

Issueofsharestosubscribersofinitialpublicofferingon17August
2007at50centspershare

Issue of shares to shareholders of Law Central Co Pty Ltd at a


deemedvalueof50centspershareaspartoftheconsiderationfor
theacquisitionofthecompany

Issueofsharesatadeemedvalueof15centspersharetoGFowler
on21April2008onhisappointment asManaging Director/CEOof
theCompanysharebasedpayments

Costsassociatedwiththecapitalraising

Incometaxoncapitalraisingcoststakendirectlytoequity

2008
$

2007
$

76,370

968,272

(419,353)
625,289

Consolidated
2008
2007
$
$

29,729,975
17,368,352
Shares
34,736,704

$
17,368,352

24,833,320

12,416,660

1,258,096

629,048

2,710,200


63,538,320

406,530

(1,514,575)

423,960
29,729,975

INTEGRATEDLEGALHOLDINGSLIMITED
APPENDIX4EPRELIMINARYFINALREPORT
FORTHEYEARENDED30JUNE2008
ACN120394194

For personal use only

NotestotheFinancialStatements

5) ACCUMULATEDLOSSES

Consolidated
2008
2007
$
$

15,701,885) (17,368,147)

Accumulatedlosses

Balance at the beginning of the year as reported in the 2007


financialreport
(18,723,247)

Correctionoferror(1)
1,355,100

Restatedbalanceatbeginningofyear
(17,368,147)

Netprofit/(loss)fortheyear
1,544,303 (17,368,147)
Balanceatendoftheyear
(15,823,844) (17,368,147)

(1)
Errorrelatedtotherecognitionofsharebasedpaymentexpensesforsharesoriginallyissuedto
supportersbutsubsequentlyreturnedintoasharetrustcontrolledbytheGroup.Thisrepresentsa
reversal of share based payment expenses incorrectly recognised for shares issued but not
distributed,andareversalofthevalueofthesharesrecognised,consistentwiththerequirementsof
UIG112ConsolidationSpecialPurposeEntities.

6) ACQUIREDBUSINESSES

Duringtheyear,theGroup,throughitswhollyownedsubsidiaries,gainedcontrolofthefollowing
businesses:

EntityName

Datecontrol
gained

Contributionto
NetProfitafterTax
(fromthedateof
acquisition)

10/08/07
TalbotOlivier

$1,939,209
Incorporating:
19/09/07
PeterMarksSuccessionLawyers
28/09/07
ShayneLeslie
BrettDaviesLawyers
10/08/07
$89,968
LawCentralCoPtyLtd
10/08/07
$264,456

Thegroupdoesnothaveanyinterestsinassociatesoutsidethegroup,nordoesithaveanyinterest
injointventures.