Gledhow Investments PLC First Half Results to 31 March 2017
23 Maggio 2017 - 7:20PM
UK Regulatory
TIDMGDH
Gledhow Investments plc
("Gledhow" or the "Company")
First Half Results to 31 March 2017
23 May 2017
Results
Gledhow is pleased to announce its unaudited interim results for the current
financial year, from 1 October 2016 to 31 March 2017.
The Company continues to pursue its investment strategy which has the objective
of achieving long-term capital growth.
The Company had cash of GBP 173,566 at the period end. The Company made a
pre-tax profit of GBP 58,217. The EUR40,000 previously invested into Bolt
Mobility BV, a Dutch company developing the AppScooter, an electric scooter it
hopes will be "the Dutch Tesla on two wheels" was revalued upwards by 78 per
cent following a new round of financing at the higher value.
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.
For further information please contact:
Guy Miller: 020 7220 9795
(Gledhow Investments plc)
The Directors of the issuer accept responsibility for the contents of this
announcement.
Profit and Loss Account
for the six months ended 31 March 2017
Continuing operations
Six months to Six months to
31-Mar-17 31-Mar-16
GBP GBP
Turnover
Proceeds from sale of investments 530,294 1,226
Cost of sales (including unrealised losses
and gains on
investments held for resale) (453,221) (64,245)
________ ________
Gross profit / (loss) 77,073 -63,019
Administrative expenses (18,856) (19,129)
________ ________
Profit / (loss) on ordinary activities before 58,217 (82,148)
tax
Taxation - -
________ ________
Profit / (loss) for the year 58,217 (82,148)
======= =======
Earnings / (loss) per share - Basic (pence) 0.12p
(0.17)p
===== ======
Balance Sheet as at 31 March 2017
2017 2016
GBP GBP
Current assets
Investments held for resale 339,572 229,946
Debtors - -
Cash at bank and in hand 173,566 190,432
_________ _________
513,139 420,378
Creditors: amounts falling due within one (3,000) (5,931)
year
_________ _________
Net current assets and total assets
less current liabilities 510,139 414,447
======== ========
Capital and reserves
Called up share capital 490,000 490,000
Share premium account 71,122 71,122
Profit and loss account (95,085) (190,777)
Other reserve 44,102 44,102
_________ _________
Shareholders' funds
- equity interests 510,139 414,447
======== ========
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 not been
reviewed by the auditors of the Company.
4. Earnings per share - Basic
The earnings per share for the six months ended 31 March 2017 is calculated on
the profit on ordinary activities after tax of GBP58,217 (2016: loss of GBP82,148)
divided by the weighted average number of 49,000,000 (2016: 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 2016 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.
END
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