Interim Results for 2016

Ultimate Sports Group Plc, the AIM listed investment vehicle, announces its results for the six months ended 30th June 2016.

Chairman's Statement and Chief Executive's Review

For the six months ended 30th June 2016 we are reporting a pre-tax loss of £199,253 (2015: loss £69,062).

Westside's net cash balances as at 30th June 2016 were £461,814 (2015: £449,996). The Directors are not recommending the payment of a dividend.

We are continuing our programme to develop the brand and we expect to secure definitive progress in 2016.

As shareholders are aware, we have been developing an innovative online platform for children. This is a "free to view" method of measuring, motivating and incentivising young children to enhance their own personal sporting performance. Ultimate Player now covers 13 different sports.

We are pleased to report that the programme became fully operational in 2016 and is now being put through its paces with a core group of coaches, children and parents.

We are enthusiastic about the future of the Ultimate Player brand as we launch and tap into our ESS platform which as outlined below is already established and continues to grow.

We have invested considerable time and money in the development of the programme and the second stage is expected to make definitive progress in the last quarter of 2016.

Pantheon Leisure Plc ("Pantheon")

Westside holds 85.87% of the issued share capital of Pantheon, which in turn owns 100% of the operating business of Pantheon's sport and leisure division.

Pantheon's sports and leisure division comprises two trading companies, Sport in Schools Limited ('ESS'), also known as The Elms Sport in Schools, and Football Partners Limited ('FPL') - also known as The Elms Small Sided Football.

Pantheon as a group made a profit of £36,259 for the 6 months ended 30th June 2016 (2015: loss £24,942).

Sport in Schools Limited ('ESS' - Elms Sport in Schools)

On a turnover of £664,087 (2015: loss £670,681), ESS has contributed a divisional profit of £117,404 as compared with £101,359 to 30th June 2015.

ESS specialises in the delivery of primary school sport - covering the National Curriculum during the day and The Extended Day before and after school hours (breakfast, lunchtime and after-school clubs).

The majority of the breakfast and lunchtime clubs are provided and paid for by the school, whilst the majority of after-school clubs are paid for by parents.

Holiday camps are a successful area for ESS where it provides sports tuition during the school holidays. The majority of the camps are paid for by parents, whilst a few are paid for by the school.

The ESS directors have developed bespoke skill sets which have been adopted with great enthusiasm by its full time staff and part time coaches. On average, 21,000 children are coached between 12 to 25 hours a week. All its coaches are highly qualified (minimum level 2), DBS checked, child protection vetted and rigorously trained by ESS in all the main disciplines required by the National Curriculum. The management of ESS constantly monitors and assesses the level of performance of its coaches throughout the school year.

Football Partners Limited ('FPL')

The 5-a-side football operation enjoys full FA accreditation and its activities (conducted through FPL) continue to be influenced by a difficult market. Turnover (net of corporate fees) decreased by 1.7% to £216,536 which resulted in an operating loss of £38,805 (2015: Loss £33,886).


The continuing success of the sports tuition activities of ESS is encouraging and the directors consider that together with the ongoing development of the Ultimate website there is potential for significant growth.

We look forward to updating shareholders on progress.

R.L Owen
G.M. Simmonds
28 September 2016

For the full results report please click here.

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