RentGuarantor Hldgs - Final Results

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30 June 2022 

RentGuarantor Holdings PLC  

 (the "Company" or "RentGuarantor") 

Final Results

RentGuarantor, a company which provides a rent guarantee service to tenants wishing to rent property in the UK from the Private Rental Sector, is pleased to announce its results for the period ended 31 December 2021.

CHAIRMAN'S STATEMENT

I am pleased to present our 2021 Annual Report and an update on our activities to date.

RentGuarantor Holdings PLC was admitted to trading on the AQSE Growth Market on 8 December 2021, shortly before the Company's year-end. As such, this is my first report as Chairman of the Company.

During 2021, the Company continued to invest in its technology and people and the listing on AQSE provides the Company with the platform to progressively raise awareness of our potential and thus to grow and develop its provision of tenant rent guarantees.

We have raised further capital from our shareholders during the year and this has supported the Company though an exciting but challenging period.

Despite the challenging year we have all faced, the Group continues to build on the strong foundations put in place in recent years. I am delighted to have been appointed as Chairman at such an exciting time and I am particularly pleased to be releasing our maiden full year results as a publicly listed company.

None of this success would be possible without the passion and diligence shown by our people, who have risen to every challenge posed by the pandemic. These results are a reflection of that endeavour and on behalf of the Board, I offer them my sincere thanks.

The results we are reporting today show the significant progress that has been made over the past year and are a reflection of how our team has remained focused on providing the very best customer service.

Financial Results

The Group delivered significant revenue growth in FY21 of 99% to £241,000. As a result of the capital raised in the year, the Group has remained in a positive cash position, and this has been enhanced further in 2022 with the proceeds from convertible loans. This provides a strong platform to execute plans and deliver sustainable value.

People

None of this success would be possible without the passion and diligence shown by our people, who have risen to every challenge posed by the pandemic. These results are a reflection of that endeavour and on behalf of the Board, I offer them my sincere thanks.

Board and Governance

We have strengthened the Board during the year and established a solid working relationship, remaining well connected and communicative despite the restraints of the pandemic. I am grateful for the contributions that have been made to date.

Summary and Outlook

We operate in a dynamic market where new trends and technologies can, and do, change the market rapidly. The ability to adapt and react quickly to the opportunities this environment brings will be key to our success and we are investing heavily in the technology that will best position us to succeed as this market continues to evolve.

The economic and geo-political environments are bringing great uncertainty for many, and we are conscious of the challenges this brings for our customers and the market we operate in. This also brings opportunities as we take a cautious but considered approach to the Group's long-term strategy.  We believe that the long-term opportunity remains significant.

The focus for the year ahead is to further develop the Group's products and to widen our strategic partnerships.

I look forward to reporting to you on our progress over the coming year.

Graham Duncan

Non-Executive Chairman

30 June 2022

The directors of RentGuarantor accept responsibility for this announcement. 

For further information please contact: 

RentGuarantor Holdings PLC 

Paul Foy, Chief Executive Officer                                                                                            

+44 207 193 4418   

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser) 

Nick Michaels                                                                                                                              

+44 20 3772 0021  

Optiva Securities Limited (Broker)                                                                     

Vishal Balasingham                                                                                                                                    

+44 203 411 1881 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2021

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO PRELIMINARY RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2021

1.         The financial information set out above does not constitute statutory accounts for the purpose of Section 434 of the Companies Act 2006.   The financial information has been extracted from the statutory accounts of RentGuarantor Holdings PLC and is presented using the same accounting policies, which have not yet been filed with the Registrar of companies, but on which the auditors gave an unqualified report on 30 June 2022.

The preliminary announcement of the results for the year ended 31 December 2021 was approved by the board of directors on 30 June 2022.

2.         Loss per share

        Basic earnings per share is calculated by dividing the earnings attributable shareholders by the weighted average number of ordinary shares outstanding during the year. Reconciliations are set out below:

        As the Group is loss-making, any potentially dilutive instruments would be considered anti-dilutive, and are disregarded for the purposes of calculating diluted earnings per share.

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