Gledhow Investments plc: First Half Results to 31 March 2020 DGAP

Gledhow Investments plc (GDH)
Gledhow Investments plc: First Half Results to 31 March 2020

01-Jun-2020 / 07:00 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

 

 

First Half Results to 31 March 2020

 

Date:  29 May 2020

 

Results

Gledhow Investments plc ("Gledhow" or the "Company") is pleased to announce its half year results ("interim results") for the current financial year.  The period covered is from 1 October 2019 to 31 March 2020.  These are unaudited interim results.

 

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

 

The Company had cash of GBP 147,414 at the period end. The Company made a pre-tax profit of GBP 22,523.

 

 

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.

 

Risks in Relation to COVID-19

Whilst the full impact of the global pandemic is yet to be felt by businesses worldwide, it is likely to have a negative impact on the business prospects generally and small companies in particular.  This has impacted on share prices, including some shares held by the Company. There remains the risk that Company's investments might be further negatively impacted and might not realise the carrying values on sale.

 

 

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

 

For further information please contact:

 

Guy Miller                        020 7220 9795    (Gledhow Investments plc)

 

 

 

Profit and Loss Account

for the six months ended 31 March 2020                                            Continuing operations

 

 

 

Six months to 31 March 2020

Six months to 31 March 2019

 

£

£

Turnover

 

 

 

Proceeds from sale of investments

632,144

286,734

Cost of sales (including unrealised losses and gains on investments held for resale)

(573,978)

(342,362)

 

 

 

Gross (loss) / profit

58,166

(55,628)

 

 

 

Administrative expenses

(35,643)

(2,627)

 

 

 

(Loss) / profit on ordinary activities before tax

22,523

(58,255)

Taxation

(4,505)

-

 

 

 

(Loss) / profit for the period

18,018

(58,255)

 

 

 

(Loss) / Earnings per share - Basic (pence)

0.04p

(0.12)

 

 

 

 

 

Balance Sheet as at 31 March 2020

 

 

 

2020

2019

 

£

 

Current assets

 

 

Investments held for resale

787,796

651,263

Debtors

4,080

4,080

Cash at bank and in hand

147,414

85,890 

 

 

 

 

939,290

741,233

 

 

 

Creditors: amounts falling due within one year

 

(32,288)

(6,366)

 

 

 

Net current assets and total assets

less current liabilities

907,002

734,867

 

 

 

Capital and reserves

 

 

 

Called up share capital

490,000

490,000

Share premium account

71,122

71,122

Profit and loss account

251,810

79,675

Other reserve

94,070

94,070

 

 

 

 

 

 

Shareholders' funds

- equity interests

907,002

734,867

 

 

 

 

 

 

 

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.

3. The financial results detailed above are unaudited, and have been reviewed by the auditors of the Company.

4. Earnings per share - Basic

The (loss)/earnings per share for the six months ended 31 March 2020 is calculated on the earnings on ordinary activities after tax of £18,018 (2019: loss of £58,255) divided by the weighted average number of 49,000,000 (2019: 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 2019 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: MSCM
TIDM: GDH
Sequence No.: 67002
EQS News ID: 1059677

 
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