Capital for Colleagues plc Unaudited Interim Results six months to 29 Feb 2016

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: ISDX / Sector: Investment 
 
31 May 2016 
 
CAPITAL FOR COLLEAGUES PLC 
 
('Capital for Colleagues' or the 'Company') 
 
      Unaudited Interim Results for the six months ended 29 February 2016 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business ('EOB') sector, is pleased to announce its unaudited 
interim results for the six months ended 29 February 2016. 
 
Highlights 
 
  * Additional GBP 770,000 invested in the period - GBP 529,000 in new 
    investments and GBP 241,000 in follow-on funding 
  * Revenues of GBP 370,000 (2015: GBP 304,000), comprising interest receivable 
    and other fees 
  * Net assets of GBP 4.2 million as at 29 February 2016 (2015: GBP 3.5 
    million) 
  * Investment portfolio now comprises 26 entities, 14 private EOBs and 12 
    publicly traded companies displaying demonstrable employee engagement 
  * GBP 1.15 million raised after the period end for further investment in EOBs 
  * Pipeline of opportunities remains strong; Directors confident of continuing 
    growth from existing and new investments 
 
Chief Executive's Statement 
 
In the six months ended 29 February 2016, the Company invested a further GBP 
770,000 in new and existing investee companies.   As we never tire of saying, 
employee ownership is a proven, successful business model, which is recognised 
to improve productivity and create wealth whilst providing a stable employment 
environment and the possibility of attractive commercial returns for investors. 
This message seems to be getting through, in that the range of activities our 
investee companies are involved in and the sectors from which our current 
prospects are being drawn are both broadening out. We now have investments 
across a range of business areas, most recently adding IT services to our 
stable of EOBs. 
 
After the end of the interim period, Capital for Colleagues successfully raised 
GBP 1.15 million through a subscription for ordinary shares. The subscription 
received strong support from funds managed by Alliance Trust and was also 
supported by all of the Directors. The proceeds of the subscription are being 
used by the Company for investment in EOBs in accordance with the Company's 
active growth strategy. 
 
Financial Results 
 
In the period ended 29 February 2016, the Company generated income of GBP 
370,000 (2014: GBP 304,000), principally from interest receivable and other 
fees associated with our investments.  As at 29 February 2016, the Company had 
net assets of GBP 4.2 million (2014: GBP 3.5 million). 
 
Outlook 
 
Capital for Colleagues' ability to advise existing and potential EOBs as well 
as to provide them with funding, means that the Company is exceptionally well 
placed to create growth in the EOB sector and to benefit from that growth. 
 
We continue to work closely with the Employee Ownership Association and other 
supporters of employee ownership to promote the commercial and financial 
benefits of EOBs and we believe that the UK's relative political and economic 
stability will continue to foster an environment where EOBs are perceived as 
important generators of equitable and dynamic growth. 
 
John Eckersley 
 
Chief Executive 
 
For further information, please visit www.capitalforcolleagues.com or contact: 
 
CAPITAL FOR COLLEAGUES PLC                                      0161 233 4891 
Richard Bailey, Chairman 
John Eckersley, Chief Executive 
 
PETERHOUSE CORPORATE FINANCE LIMITED                            020 7469 0930 
Mark Anwyl 
Duncan Vasey 
 
 
PROFIT AND LOSS ACCOUNT 
 
                                               Unaudited 6 Unaudited 6 Audited 12 
                                                 months to   months to  months to 
                                               29 February 28 February  31 August 
                                                      2016        2015       2015 
                                                 GBP 000's   GBP 000's  GBP 000's 
 
Revenue                                                364         257        523 
 
Unrealised gains - quoted                                6          47         68 
Unrealised gains - unquoted                                                   391 
 
                                                       370         304        982 
 
Administrative expenses                              (330)       (216)      (557) 
 
PROFIT FROM ONGOING OPERATIONS                          40          88        425 
 
Financial Income                                         -           -          1 
 
PROFIT/(LOSS) BEFORE TAXATION                           40      88            426 
 
Tax                                                      -           -          2 
 
PROFIT/(LOSS) FOR THE PERIOD                            40          88        428 
 
BALANCE SHEET 
 
                                                    As at       As at      As at 
                                              29 February 28 February  31 August 
                                                     2016     2015GBP       2015 
                                                GBP 000's       000's  GBP 000's 
 
ASSETS 
 
Non Current Assets 
 
Investments held at fair value through profit       2,246       1,329      1,855 
or loss 
 
Loans and receivables                                 884       1,565      1,507 
 
                                                    3,130       2,894      3,362 
 
Current Assets 
 
Trade and other receivables                           784         122        417 
 
Cash and cash equivalents                             243         505        355 
 
                                                    1,027         627        772 
 
TOTAL ASSETS                                        4,157       3,521      4,134 
 
 
EQUITY AND LIABILTIES 
 
Equity 
 
Called up share capital                             3,070       2,866      3,070 
 
Share premium                                         672         614        672 
 
Retained (loss)                                       376         (4)        336 
 
Total Equity                                        4,118       3,476      4,078 
 
 
Current Liabilities 
 
Trade and other payables                               39          45     56 
 
 
TOTAL EQUITY AND LIABILITIES                        4,157       3,521      4,134 
 
 
 
 
 
The interim results have not been reviewed by the Company's auditors. 
 
The Directors of the Company are responsible for the contents of this 
announcement. 
 
Notes 
 
Capital for Colleagues is an investment company focused on the Employee Owned 
Business ('EOB') sector.  The Company has a clear strategy aimed at investing 
in, advising and growing established, mainly UK-based, EOBs as well as 
assisting companies which are looking to launch employee ownership schemes, 
providing the capital and advice to help them achieve their objectives. 
 
Capital for Colleagues has a proven management team, with a wide network of 
contacts and affiliates, as well as established access to investment 
opportunities, enabling the Company to execute its strategy and identify and 
capitalise on EOB-focused investment opportunities. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 31, 2016 02:00 ET (06:00 GMT)