Resources in Insurance Group PLC announced unaudited consolidated earnings results for the six months ended June 30, 2012. For the period, the company reported loss of £696,581 or 0.199 pence per basic and diluted share on revenue of £688,219 compared to profit of £13,488 or 0.00 pence per basic and diluted share on revenue of £1,373,215 for the same period a year ago. Loss before tax was £696,581 compared to profit before tax of £13,488 for the same period a year ago. Loss from operations was £690,269 compared to profit from operations of £14,963 for the same period a year ago. Net cash used in operating activities was £56,034 compared to £283,338 for the same period a year ago. Amount spent on purchase of property, plant and equipment was £1,097 compared to £9,343 for the same period a year ago.

Resources in Insurance Group PLC, Annual General Meeting, Jun 20, 2012.

The board of Resources in Insurance Group PLC reported a substantial contract win with a financial institution. The announcement marks the continuation of successive client wins in recent months. The contract, which relates to the management of claims in connection to Payment Protection Insurance (PPI), will impact the second half of 2012. Initial indications show that the contract will represent in excess of £750,000 in turnover during this period. There is potential that similar contracts could follow in 2013 and the group is in early stage discussions with a second bank with the view to providing a similar service for PPI claims. The group's performance continues to improve, as reflected in the results for the year December 2010 where losses have been reduced from £402,343 to a profit on operations of £80,385 before nonrecurring costs expended in the continued drive to change the shape of the business, resulting in a loss for the year to December 2011 of £90,060. The group has also announced its intention to broaden its services to the financial services profession through facilities for training, placement and recruitment. The group has the skills and potential customer base and is now engaged in exploratory talks with a company able to provide the administrative support with a view to possible collaboration.