Gledhow Investments plc: Interim Results to 31 March 2021 (1198572)
20 Mai 2021 - 8:00AM
UK Regulatory
Gledhow Investments plc (GDH)
Gledhow Investments plc: Interim Results to 31 March 2021
20-May-2021 / 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.
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Gledhow Investments plc
First Half Results to 31 March 2021
Date: 20 May 2021
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 2020 to 31 March 2021. 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 374,005 at the period end. The Company made a pre-tax profit of GBP 1,302,715, which
included net unrealised gains on investments held for resale of GBP874,227.
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 Company has performed profitably mainly through investments in early stage publicly quoted and listed companies.
Risks in Relation to COVID-19
The Company continues to make progress despite the Covid-19 pandemic. 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. There remains the risk that the Company's investments might be 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 2021 Continuing operations
Six months to 31 March Six months to 31 March
2021 2020
GBP GBP
Turnover
Proceeds from sale of investments 1,231,869 632,144
Cost of sales (including unrealised gains and losses on investments 123,972 (573,978)
held for resale)
Gross profit 1,355,841 58,166
Administrative expenses (53,126) (35,643)
Profit on ordinary activities before tax 1,302,715 22,523
Taxation (247,516) (4,505)
Profit for the period 1,055,199 18,018
Earnings per share - Basic (pence) 2.15 0.04
Balance Sheet as at 31 March 2021
2021 2020
GBP
Current assets
Investments held for resale 2,336,511 787,796
Debtors 4,080 4,080
Cash at bank and in hand 374,005 147,414
2,714,596 939,290
Creditors: amounts falling due within one year
(363,692) (32,288)
Net current assets and total assets
2,350,904 907,002
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 1,695,712 251,810
Other reserve 94,070 94,070
Shareholders' funds
2,350,904 907,002
- 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 earnings per share for the six months ended 31 March 2021 is
calculated on the earnings on ordinary activities after tax of
GBP1,055,199 (2020: profit of GBP18,018) divided by the weighted
average number of 49,000,000 (2020: 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 2020 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.
.
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ISIN: GB0008842717
Category Code: MSCM
TIDM: GDH
Sequence No.: 106189
EQS News ID: 1198572
End of Announcement EQS News Service
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