Gledhow Investments plc: First Half Results to 31 March 2019 DGAP

Gledhow Investments plc (GDH)
Gledhow Investments plc: First Half Results to 31 March 2019

07-May-2019 / 13:04 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 2019

 

Date: 7 May 2019

 

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 2018 to 31 March 2019.  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 85,890 at the period end. The Company made a pre-tax loss of GBP 58,255.

 

The Company had a pre-IPO exposure to Block Energy PLC, with an outlay of £55,500. The Company has disposed of this entire position for £175,463, a 216% uplift on its original investment.  £134,963 of the disposal came after the period end.

 

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.

 

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 2019                                             Continuing operations

 

 

 

Six months to 31 March 2019 £

Six months to 31 March 2018 £

Turnover

 

 

 

Proceeds from sale of investments

286,734

292,891

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

(342,362)

(120,324)

 

 

 

Gross (loss) / profit

(55,628)

172,567

 

 

 

Administrative expenses

(2,627)

(17,805)

 

 

 

(Loss) / profit on ordinary activities before tax

(58,255)

154,762

Taxation

-

-

 

 

 

(Loss) / profit for the period

(58,255)

154,762

 

 

 

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

(0.12p)

0.32

 

 

 

 

 

Balance Sheet as at 31 March 2019

 

 

 

2019

2018

 

£

 

Current assets

 

 

Investments held for resale

651,263

716,005

Debtors

4,080

-

Cash at bank and in hand

85,890

172,029 

 

 

 

 

741,233

888,034

 

 

 

Creditors: amounts falling due within one year

 

(6,366)

(18,820)

 

 

 

Net current assets and total assets

less current liabilities

734,867

869,214

 

 

 

Capital and reserves

 

 

 

Called up share capital

490,000

490,000

Share premium account

71,122

71,122

Profit and loss account

79,675

263,990

Other reserve

94,070

44,102

 

 

 

 

 

 

Shareholders' funds

- equity interests

734,867

869,214

 

 

 

 

 

 

 

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 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 2019 is calculated on the loss on ordinary activities after tax of £58,255 (2018: profit of £154,762) divided by the weighted average number of 49,000,000 (2017: 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 2018 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
LSE Ticker: GDH
Sequence No.: 8530
EQS News ID: 808015

 
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