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DJ Lombard Capital PLC Unaudited Interim Results to 30 September 2015

 
TIDMLCAP 
 
LOMBARD CAPITAL PLC 
 
                         ("Lombard" or the "Company") 
 
     UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015 
 
                             CHAIRMAN'S STATEMENT 
 
Dear Shareholder 
 
Your new board of directors was appointed at the conclusion of the Company's 
Annual General Meeting on 3 November 2015. 
 
At that time I was appointed Chairman and now report on the half year figures 
to 30 September 2015 which show a comprehensive loss of GBP178,869. 
 
Of this loss, GBP141,250 is accounted for by a reduction in the carrying values 
of two of the Company's investments. These reductions were felt appropriate 
following a review of the respective financial accounts and the lack of 
marketability in the investments.  The net asset value per share, after this 
reduction, is 5.19p. 
 
Whilst it is disappointing to start a new appointment with a downbeat 
statement, I am pleased to say that the board will maintain costs at an 
appropriate level whilst seeking ways to enhance shareholder value. 
 
Brent Fitzpatrick MBE 
 
Chairman 
 
23 November 2015 
 
Lombard Capital PLC 
 
Condensed statement of comprehensive income for the six months ended 30 
September 2015 
 
                                     6 months to         6 months to                Year to 
 
                                      30/09/2015          30/09/2014             31/03/2015 
 
                                             GBP                 GBP                    GBP 
 
Continuing operations 
 
Investment income                             53                 184                    211 
 
Operating expenses                      (37,672)            (34,765)               (80,344) 
 
Operating loss before                   (37,619)            (34,581)               (80,133) 
taxation 
 
Taxation                                       -                   -                      - 
 
Loss for the period                     (37,619)            (34,581)               (80,133) 
 
Market value adjustment to             (141,250)                   -                 85,000 
 
Investments 
 
Total comprehensive loss 
for the period                 (178,869)                    (34,581)                  4,867 
 
Loss per share 
 
Basic and fully diluted 
 
Total and continuing 
operations                               (9.33p)              (1.8p)                  0.25p 
 
Condensed statement of financial position 
 
as at 30 September 2015 
 
                                      30/09/2015          30/09/2014             31/03/2015 
 
                                             GBP                 GBP                    GBP 
 
Fixed assets 
 
Investments                               93,750             150,000                235,000 
 
Current assets 
 
Trade and other                            3,900               5,222                    220 
receivables 
 
Cash and cash equivalents                 16,107             101,837                 57,036 
 
                                          20,007             107,059                 57,256 
 
Total Assets                             113,757             257,059                292,256 
 
 
Capital and reserves 
 
Called up share capital                  191,815             191,815              191,815 
 
Share premium                            755,614             755,614                755,614 
 
Investment revaluation 
reserve                                   10,736              66,986                151,986 
 
Retained loss                          (858,708)           (775,537)              (821,089) 
 
                                          99,457             238,878              278,326 
 
Current liabilities 
 
Trade and other payables                  14,300              18,181                 13,930 
 
Total equity and                         113,757            257,059,                292,256 
liabilities 
 
   Notes to the financial statements 
 
   1. Basis of preparation 
 
   The financial statements for the 6 months to 30 September 2015 are unaudited 
   and do not constitute 
 
   statutory accounts as defined in section 434 of the Companies Act 2006. The 
   financial information for 
 
   the year ended 31 March 2015 is extracted from the audited statutory accounts 
   for the year then ended 
 
   which have been delivered to the Registrar of Companies. The audit report on 
   these accounts was 
 
   unqualified and did not contain a statement under Section 498(2) or (3) of the 
   Companies Act 2006. 
 
   The financial information for the six months to 30 September 2015 has been 
   prepared on the basis of 
 
   the accounting policies set out in the full annual accounts of the company for 
   the year ended 31 March 
 
   2015 
 
   2. Earnings per share 
 
   The calculation of the basic earnings per share is based upon the earnings 
   attributable to the ordinary 
 
   Shareholders divided by the weighted average number of shares in issue during 
   the period. 
 
   The weighted average number of shares in issue throughout the periods was 
   1,918,150. 
 
   3. Investments 
 
                                                     30-Sep                30-Sep               31-Mar 
 
                                                       2015                  2014                 2015 
 
                                                        GBP                   GBP                  GBP 
 
   Investment at cost less 
 
   impairment                                        83,014                83,014               83,014 
 
   Market value adjustment 
                                                     10,736                66,986              151,986 
 
   Market value at period end 
                                                     93,750               150,000              235,000 
 
 
The Directors of Lombard are responsible for the contents of this 
announcement. 
 
 
 
END 
 

(END) Dow Jones Newswires

November 25, 2015 06:33 ET (11:33 GMT)