DJ Gledhow Investments plc: First Half Results to 31 March 2019
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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 GBP55,500. The Company has disposed of this entire position for GBP175,463, a 216% uplift on its original investment. GBP134,963 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 201 9 Continuing operations Six months to 31 Six months to 31 March 2019 GBP March 2018 GBP Turnover ******** Proceeds from sale of 286,734 292,891 investments Cost of sales (including (342,362) (120,324) unrealised losses and gains on investments held for resale) Gross (loss) / profit (55,628) 172,567 Administrative expenses (2,627) (17,805) (Loss) / profit on (58,255) 154,762 ordinary activities before tax Taxation - - (Loss) / profit for the (58,255) 154,762 period (Loss) / Earnings per (0.12p) 0.32 share - Basic (pence) Balance Sheet as at 31 March 2019 2019 2018 GBP 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 734,867 869,214 less current liabilities 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 734,867 869,214 - equity interests 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 GBP58,255 (2018: profit of GBP154,762) 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 TIDM: GDH Sequence No.: 8530 EQS News ID: 808015 End of Announcement EQS News Service
(END) Dow Jones Newswires
May 09, 2019 17:08 ET (21:08 GMT)