Gledhow Investments plc: First Half Results to 31 March 2018 DGAP

Gledhow Investments plc (GDH)
Gledhow Investments plc: First Half Results to 31 March 2018

09-May-2018 / 17:03 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Gledhow Investments plc

 

("Gledhow" or the "Company")

 

First Half Results to 31 March 2018

 

9 May 2018

 

Results

 

Gledhow Investments plc is pleased to announce its unaudited interim results for the current financial year, from 1 October 2017 to 31 March 2018. 

 

The Company continues to pursue its investment strategy which has the objective of achieving long-term capital growth.

 

The Company had cash of GBP 172,029 at the period end. The Company made a pre-tax profit of GBP 154,762.  GBP20,158 remains trapped in a broker account the Company previously held at Beaufort Securities before that Company entered into administration. The Company is hopeful that these funds will be returned to the Company in due course.

 

Despite the uncertain economic environment the Company is in a strong position, thanks to its strong cash position, and we look forward to being able to make opportunistic investments in small to medium sized undervalued companies as they arise.

 

 

For further information please contact:

 

Guy Miller: 020 7220 9795                             (Gledhow Investments plc)

 

The Directors of the issuer accept responsibility for the contents of this announcement.

 

 

 

Profit and Loss Account

for the six months ended 31 March 2018

                                                                                              Continuing operations

                                                                                    Six months to               Six months to

                                                                                     31 March 2018               31 March 2017

                                                                                                    £                                                   £

 

Turnover

 

 

 

Proceeds from sale of investments

292,891

530,294

 

Cost of sales (including unrealised losses and gains on

investments held for resale)

 

(120,324)

 

(453,221)

 

 

 

Gross profit

172,567

77,073

 

 

 

Administrative expenses

(17,805)

(18,856)

 

 

 

 

 

 

Profit on ordinary activities before tax

154,762

58,217

 

 

 

Taxation

 

-

-

 

 

 

Profit for the period

154,762

58,217

 

 

 

Earnings per share - Basic (pence)

0.32p

0.12p

 

 

Balance Sheet as at 31 March 2018

 

                  2018                                                          2017

 

                                            

                       £                                                £

   

Current assets

 

 

 

Investments held for resale

716,005

339,572

Cash at bank and in hand

172,029

173,566

 

 

 

 

888,034

513,139

 

 

 

Creditors: amounts falling due

within one year

(18,820)

(3,000)

 

 

 

Net current assets and total assets

less current liabilities

869,214

510,139

 

 

 

 

 

 

Capital and reserves

 

 

Called up share capital

490,000

490,000

Share premium account

71,122

71,122

Profit and loss account

263,990

(95,085)

Other reserve

44,102

44,102

 

 

 

Shareholders' funds

- equity interests

869,214

510,139

 

 

 

 

 

Notes

1. The interim results together with the related notes set out below have been approved by the board of directors of Gledhow Investments plc.

2. The Company's strategy is to make short to medium term investments in small to medium sized quoted or unquoted companies. These investments are carried in the accounts as current asset investments and are valued at lower of cost and net realisable value. 

3. The financial results detailed above are unaudited, and have not been reviewed by the auditors of the Company.

4. Earnings per share - Basic

The earnings per share for the six months ended 31 March 2018 is calculated on the profit on ordinary activities after tax of £154,762 (2017: profit of £58,217) divided by the weighted average number of 49,000,000 (2016: 49,000,000) ordinary shares of 1p each in issue during the period.

5. The financial information in this report does not constitute Statutory Accounts within the meaning of Section 434 of the Companies Act 2006. The financial statements for the year ended 30 September 2017 have been delivered to the Registrar of Companies and the auditors' report on those financial statements was unqualified and did not contain a statement made under Section 498(2) or Section 498(3) of the Companies Act 2006.

 

 

 

 

 

 



ISIN: GB0008842717
Category Code: MSCH
LSE Ticker: GDH
Sequence No.: 5521
EQS News ID: 684561

 
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