Globe Capital Limited - Interim Results for the six months ended 30 June 2017 PR Newswire

29 September 2017

Globe Capital Limited

("Globe Capital" or the "Company")

Interim Results for the six months period to 30 June 2017

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for the 6 months period to 30 June 2017. Operational costs for the period amounted to £42k compared to £85k for the 6 months to June 2016.

The Company continues to seek medium to long term investments in businesses that exhibit growth potential. The Company intends to be an active investor in situations where the Company can make a clear contribution to the growth and development of the investment.

29th September 2017

David Barnett
Chairman

Globe Capital Limited
Statement of Comprehensive Income
Six months ended 30 June 2017


                                6 months ended 6 months ended  Year ended
                                  30 June 2017   30 June 2016 31 December
                                                                     2016

                                      GBP '000       GBP '000    GBP '000

Revenue                                      -              -           -

Other Income                                 -              -           -

Gross Profit                                 -              -           -

Administrative Expenses                   (42)           (85)       (124)

Profit / (Loss) from Operations           (42)           (85)       (124)

Finance Costs                                -              -           -

Profit / (Loss) Before Taxation           (42)           (85)       (124)

Taxation                                     -              -           -

Other Comprehensive Loss                     -              -           -

Profit / (Loss) for the period            (42)           (85)       (124)

Earning / (Loss) per share

Basic & Diluted (pence)                (0.02)p        (0.10)p     (0.07)p




Globe Capital Limited
Balance Sheet as at 30 June 2017


                                                 30 June  30 June 31 December
                                                    2017     2016        2016

                                                GBP '000 GBP '000    GBP '000

Non-current assets

Property, plant and equipment                          -        -           -

Investments                                           14       14          14

Current assets

Prepayments                                            3        6           7

Cash and cash equivalents                              6        4           5

Total Assets                                          23       24          26

Current Liabilities

Trade and other payables                              18       38          20

Financial Liabilities - Borrowings                     -        -           -

Creditors: falling due after more than one year

Accruals                                              23        -          12

Amounts due to directors                              23        -          13

Amounts due to a shareholder                          54        -          35

Total Liabilities                                    118       38          79

Net Assets                                          (95)     (14)        (53)

Shareholders' Equity

Share Capital                                        639      639         638

Reserves                                           (734)    (653)       (692)

Total Equity                                        (95)     (14)        (53)




Globe Capital Limited
Statement of Cash Flows
Period ended 30 June 2017


                                       6 months ended 6 months ended
                                         30 June 2017   30 June 2016  Year ended
                                                                     31 December
                                                                            2016

                                             GBP '000       GBP '000    GBP '000

Profit/(Loss) before tax                         (42)           (85)       (124)

Adjustment:

Other income                                        -              -           -

Depreciation                                        -              6           6

Operating profit/(loss)                          (42)           (79)       (118)

Cash flows from operating activities

(Increase)/decrease in trade and other              4            (6)         (7)
receivables

Increase/(decrease) in trade and other              5           (27)        (34)
payables

Amounts due to Directors                           15              -          13

Share based payments                                -             20           -

Cash utilised in operations                      (18)           (92)       (146)

Cash flows from investing activities

Bank interest received                              -              -           -

Purchase of investments                                         (14)        (14)

Net cash from investing activities                  -           (14)           -

Cash flows from financing activities

Issue of new shares                                 -            100         120

Amounts due to a shareholder                       19              -          35

Net cash from financing activities                 19            100         155

(Decrease)/increase in cash and cash                1            (6)         (5)
equivalents

Cash and cash equivalents at the                    5             10          10
beginning of the period

Cash and cash equivalents at end of                 6              4           5
period

Cash at Bank C/F                                    6              4           5



The financial information set out above has not been reviewed or audited by the company's auditors.

Basic and diluted profit per share is calculated by dividing the loss for the period of £42,000 (2016: loss £85,000) by the weighted average number of ordinary shares of 189,253,085 (2016: 87,773,045).

The directors of Globe Capital Limited accept responsibility for this announcement.

For further information

Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388

NEX CORPORATE ADVISER AND CONTACT DETAILS:

Alexander David Securities Limited
David Scott
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street EC4N 4SA