Gledhow Investments plc: First Half Results to 31 March 2018

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Gledhow Investments plc (GDH) 
Gledhow Investments plc: First Half Results to 31 March 2018 
 
09-May-2018 / 17:03 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 
 
      ("Gledhow" or the "Company") 
 
First Half Results to 31 March 2018 
 
            9 May 2018 
 
Results 
 
Gledhow Investments plc is pleased to announce its unaudited interim results 
       for the current financial year, from 1 October 2017 to 31 March 2018. 
 
       The Company continues to pursue its investment strategy which has the 
            objective of achieving long-term capital growth. 
 
   The Company had cash of GBP 172,029 at the period end. The Company made a 
pre-tax profit of GBP 154,762. GBP20,158 remains trapped in a broker account 
      the Company previously held at Beaufort Securities before that Company 
entered into administration. The Company is hopeful that these funds will be 
            returned to the Company in due course. 
 
       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 2018 
 
            Continuing operations 
 
            Six months to Six months to 
 
            31 March 2018 31 March 2017 
 
              GBP GBP 
 
Turnover 
******** 
 
           Proceeds from sale of investments   292,891   530,294 
 
  Cost of sales (including unrealised losses (120,324) (453,221) 
                                and gains on 
 
                investments held for resale) 
 
                                Gross profit   172,567    77,073 
 
                     Administrative expenses  (17,805)  (18,856) 
 
    Profit on ordinary activities before tax   154,762    58,217 
 
                                    Taxation         -         - 
 
                       Profit for the period   154,762    58,217 
 
          Earnings per share - Basic (pence)     0.32p     0.12p 
 
Balance Sheet as at 31 March 2018 
 
2018 2017 
 
GBP GBP 
 
Current assets 
 
Investments held for resale         716,005  339,572 
Cash at bank and in hand            172,029  173,566 
 
                                    888,034  513,139 
 
Creditors: amounts falling due      (18,820) (3,000) 
 
within one year 
 
Net current assets and total assets 869,214  510,139 
 
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             263,990  (95,085) 
Other reserve                       44,102   44,102 
 
Shareholders' funds                 869,214  510,139 
 
- 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 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 2018 is calculated 
 on the profit on ordinary activities after tax of GBP154,762 (2017: profit of 
        GBP58,217) 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 2017 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: MSCH 
TIDM:          GDH 
Sequence No.:  5521 
EQS News ID:   684561 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

May 09, 2018 12:03 ET (16:03 GMT)