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)