Gledhow Investments plc: First Half Results to 31 March 2020

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Gledhow Investments plc ("Gledhow" or the "Company") is pleased to announce its half year results ("interim results") for the current financial year.

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EQS

Retrieved on:

Monday, June 1, 2020

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Gledhow, Financial risk

Summary

Key Points:

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.
There remains the risk that Company's investments might be further negatively impacted and might not realise the carrying values on sale.

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 March 2020	Six months to 31 March 2019
	£	£
Turnover
Proceeds from sale of investments	632,144	286,734
Cost of sales (including unrealised losses and gains on investments held for resale)	(573,978)	(342,362)

Gross (loss) / profit	58,166	(55,628)

Administrative expenses	(35,643)	(2,627)

(Loss) / profit on ordinary activities before tax	22,523	(58,255)
Taxation	(4,505)	-

(Loss) / profit for the period	18,018	(58,255)

(Loss) / Earnings per share - Basic (pence)	0.04p	(0.12)

Balance Sheet as at 31 March 2020

	2020	2019
	£
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 less current liabilities	907,002	734,867

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 - equity interests	907,002	734,867

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 £18,018 (2019: loss of £58,255) 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

Gledhow Investments plc: First Half Results to 31 March 2020

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First Half Results to 31 March 2020

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