Globe Capital Limited - Interim Results for the nine months to 30 September 2016 PR Newswire

30th December 2016

Globe Capital Limited
("Globe Capital" or the "Company")

Interim Results for the nine months period to 30 September 2016

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for the 9 months period to 30 September 2016. Operational costs for the period amounted to £105k compared to £85k for the 6 months to June 2016 (6 months to June 2015 - £56k)

At the start of the year, the Company realigned its investment focus towards the retail sector with an emphasis on menswear. Following which, the Company made its maiden investment with a 25% interest in Sterling Craig Ltd, a UK based online retailer for men’s fashion.

In January 2016, the Company raised £100k in new equity. The Directors continue to seek further investment capital and hope to report on this in the near future. Meanwhile, operational costs will be kept at a minimum until additional funds are raised.

The Board continues to review potential acquisitions which is reliant on new investment being achieved by virtue of equity or loan capital.

The company continues to be supported by loans arranged by the company’s directors.

Further announcements will be made in due course.

David Barnett
Chairman
30 December 2016


Globe Capital Limited
Statement of Comprehensive Income
Nine months ended 30 September 2016


                           9 months ended 6 months ended 6 months        Year
                             30 September   30 June 2016    ended       ended
                                     2016                 30 June 31 December
                                                             2015        2015

                                 GBP '000       GBP '000 GBP '000    GBP '000

Revenue                                 -              -        -           -

Other Income                            -              -        -           -

Gross Profit                            -              -        -           -

Administrative Expenses             (105)           (85)     (56)       (129)

Profit / (Loss) from                (105)           (85)     (56)       (129)
Operations

Finance Costs                           -              -        -           -

Profit / (Loss) Before              (105)           (85)     (56)       (129)
Taxation

Taxation                                -              -        -           -

Other Comprehensive Loss                -              -        -           -

Profit / (Loss) for the             (105)           (85)     (56)       (129)
period

Earning / (Loss) per share

Basic & Diluted (pence)           (0.12)p        (0.10)p  (0.08)p     (0.17)p





Globe Capital Limited
Balance Sheet as at 30 September 2016


                                   30 September  30 June  30 June 31 December
                                           2016     2016     2015        2015

                                       GBP '000 GBP '000 GBP '000    GBP '000

Non-current assets

Property, plant and equipment                 -        -       17           6

Investments                                  14       14        -           -

Current assets

Prepayments                                   5        6        3           -

Cash and cash equivalents                     5        4       11          10

Total Assets                                 24       24       31          16

Current Liabilities

Trade and other payables                     23       38        7          65

Financial Liabilities - Borrowings            -        -        -           -

Creditors: falling due after more
Than one year

Loans                                        35        -        -           -

Total Liabilities                            58       38        7          65

Net Assets                                 (34)     (14)       24        (49)

Shareholders' Equity

Share Capital                               639      639      627         627

Reserves                                  (673)    (653)    (603)       (676)

Total Equity                               (34)     (14)       24        (49)





Globe Capital Limited
Statement of Cash Flows
Period ended 30 September 2016



                        9 months ended 6 months ended 6 months ended
                     30 September 2016   30 June 2016   30 June 2015  Year ended
                                                                     31 December
                                                                            2015

                              GBP '000       GBP '000       GBP '000    GBP '000

Profit/(Loss) before             (105)           (85)           (56)       (129)
tax

Adjustment:

Other income                         -              -              -           -

Depreciation                         6              6             11          22

Operating profit/                 (99)           (79)           (44)       (107)
(loss)

Cash flows from
operating activities

(Increase)/decrease                (5)            (6)            (3)           1
in trade and other
receivables

Increase/(decrease)                (7)           (27)            (1)          57
in trade and other
payables

Share based payments                20             20              -           -

Cash utilised in                  (91)           (92)           (48)        (49)
operations

Cash flows from
investing activities

Bank interest                        -              -              -           -
received

Purchase of                       (14)           (14)              -           -
investments

Net cash from                     (14)           (14)              -           -
investing activities

Cash flows from
financing activities

Issue of new shares                100            100              -           -

Net cash from                      100            100              -           -
financing activities

(Decrease)/increase                (5)            (6)           (48)        (49)
in cash and cash
equivalents

Cash and cash                       10             10             59          59
equivalents at the
beginning of the
period

Cash and cash                        5              4             11          10
equivalents at end
of period

Cash at Bank C/F                     4              4             11          10



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 £105,000 (Jun 15: loss £56,000) by the weighted average number of ordinary shares of 87,773,045 (Jun 15: 74,638,800).

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

CORPORATE ADVISER AND CONTACT DETAILS:
Alexander David Securities Limited
David Scott
Telephone: +44 (0) 20 7448 9820

49 Queen Victoria Street EC4N 4SA