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DJ Gledhow Investments plc: First Half Results to 31 March 2020

 
 Gledhow Investments plc (GDH) 
Gledhow Investments plc: First Half Results to 31 March 2020 
 
01-Jun-2020 / 07:00 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 2020 
 
          Date: 29 May 2020 
 
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 2019 to 31 March 2020. 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 147,414 at the period end. The Company made a 
          pre-tax profit of GBP 22,523. 
 
       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. 
 
          Risks in Relation to COVID-19 
 
          Whilst the full impact of the global pandemic is yet to be felt by 
businesses worldwide, it is likely to have a negative impact on the business 
 prospects generally and small companies in particular. This has impacted on 
  share prices, including some shares held by the Company. There remains the 
    risk that Company's investments might be further negatively impacted and 
          might not realise the carrying values on sale. 
 
  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 2020 Continuing operations 
 
                            Six months to 31    Six months to 31 
                                  March 2020          March 2019 
                                           GBP                   GBP 
 
Turnover 
******** 
 
     Proceeds from sale of           632,144             286,734 
               investments 
  Cost of sales (including         (573,978)           (342,362) 
     unrealised losses and 
 gains on investments held 
               for resale) 
 
     Gross (loss) / profit            58,166            (55,628) 
 
   Administrative expenses          (35,643)             (2,627) 
 
        (Loss) / profit on            22,523            (58,255) 
ordinary activities before 
                       tax 
                  Taxation           (4,505)                   - 
 
   (Loss) / profit for the            18,018            (58,255) 
                    period 
 
     (Loss) / Earnings per             0.04p              (0.12) 
     share - Basic (pence) 
 
Balance Sheet as at 31 March 2020 
 
                                               2020     2019 
                                               GBP 
Current assets 
Investments held for resale                     787,796 651,263 
Debtors                                           4,080   4,080 
Cash at bank and in hand                        147,414  85,890 
 
                                               939,290  741,233 
 
Creditors: amounts falling due within one year (32,288) (6,366) 
 
Net current assets and total assets            907,002  734,867 
 
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                        251,810  79,675 
Other reserve                                  94,070   94,070 
 
Shareholders' funds                            907,002  734,867 
 
- 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. 
 
        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 2020 is 
      calculated on the earnings on ordinary activities after tax of GBP18,018 
(2019: loss of GBP58,255) divided by the weighted average number of 49,000,000 
   (2019: 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 2019 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.:  67002 
EQS News ID:   1059677 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

June 01, 2020 02:00 ET (06:00 GMT)