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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Caribbean Investment Holdings Limited | LSE:CIHL | London | Ordinary Share | VGG1991M1032 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 26.50 | 25.00 | 28.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCIHL
RNS Number : 6770Q
Caribbean Investment Holdings Ltd
01 March 2016
CARIBBEAN INVESTMENT HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE
THIRD QUARTER ENDED DECEMBER 31, 2015
Belize City, Belize, March 1, 2016 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL")
The Company reported a net loss from operations of $3.7m for the three months ended December 31, 2015 (2014 - net loss of $4.0m), and a net loss per ordinary share from continuing operations for the three months of $0.04 (2014 - net loss per share of $0.04). The Company reported a net loss from operations of $1.2m for the nine months ended December 31, 2015 (2014 - net loss of $2.0m), and a net loss per ordinary share from continuing operations for the nine months of $0.01 (2014 - net loss per share of $0.02).
Following its recent name change, the Company announces its new website address - www.cihltd.co. Shareholders may now visit this website to obtain details about the Company, including information required to be disclosed in accordance with AIM Rule 26.
For further information contact:
Caribbean Investment Holdings Limited
UK +44 (0)207 248 6700 Belize +501 227 7178
Cenkos Securities plc
Nicholas Wells +44 (0)20 739 8920
Note: This and other press releases are available at the Company's web site: http://www.cihltd.co.
Background Information
Caribbean Investment Holdings Limited (CIHL) is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. CIHL's businesses are conducted through its subsidiaries. The Belize Bank Limited (BBL) is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. CIHL also owns an international corporate services business based in Belize, which operates as Belize Corporate Services Limited. Within Belize, BBL is the largest, full service commercial and retail banking operation with a head office in Belize City and eleven branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.
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Caribbean Investment Holdings Limited
Financial Information
Summarized Consolidated Statements of Comprehensive Income (unaudited)
US dollars in millions except per share
data
3 months ended 3 months ended 9 months ended 9 months ended
December 31, December 31, December 31, December 31,
2015 2014 2015 2014
$m $m $m $m
Financial Services
Interest income 7.9 10.9 25.0 31.5
Interest expense (2.0) (2.2) (6.0) (6.7)
-------------------------------------------- --------------- --------------- --------------- ---------------
Net interest income 5.9 8.7 19.0 24.8
Provision for loan losses (6.2) (5.1) (11.1) (10.9)
Net non-interest expense (2.0) (2.2) (4.9) (6.1)
-------------------------------------------- --------------- --------------- --------------- ---------------
Operating (loss) income - Financial
Services (2.3) 1.4 3.0 7.8
Corporate expenses (0.7) (0.7) (2.2) (2.8)
-------------------------------------------- --------------- --------------- --------------- ---------------
Net income before tax (3.0) 0.7 0.8 5.0
--------------- --------------- --------------- ---------------
Taxation (0.7) (4.7) (2.0) (7.0)
-------------------------------------------- --------------- --------------- --------------- ---------------
Net loss after tax and before other
comprehensive income (3.7) (4.0) (1.2) (2.0)
-------------------------------------------- --------------- --------------- --------------- ---------------
Other comprehensive income:
Unrealized gains (losses) on securities 0.2 (0.4) (0.7) 0.1
--------------- --------------- ---------------
Comprehensive income (3.5) (4.4) (1.9) (1.9)
-------------------------------------------- --------------- --------------- --------------- ---------------
Loss per ordinary share:
Basic and diluted:
Net loss $(0.04) $(0.04) $(0.01) $(0.02)
Number of shares - basic and diluted 99.9m 99.9m 99.9m 99.9m
-------------------------------------------- --------------- --------------- --------------- ---------------
Summarized Consolidated Balance Sheets (unaudited)
US dollars in millions
December 31 March 31
2015 2015
$m $m
---------------------------------------------------- ---------------------------- -------------------------
Assets
Financial Services
Cash, cash equivalents and due from banks 172.3 183.6
Interest-bearing deposits with correspondent banks 7.3 55.9
Other securities 17.7 46.2
Current assets 197.3 285.7
---------------------------------------------------- ---------------------------- -------------------------
Loans - net 305.6 320.5
Property, plant and equipment - net 16.3 16.4
Government of Belize receivable 18.3 18.0
Other assets 6.5 8.2
----------------------------------------------------
Total Financial Services assets 544.0 648.8
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Cash and cash equivalents 1.5 0.1
Other current assets 4.5 6.1
Total assets 550.0 655.0
---------------------------------------------------- ---------------------------- -------------------------
Liabilities and shareholders' equity
Financial Services
Deposits 476.7 577.3
Interest payable 3.5 3.7
Other liabilities 5.6 8.2
---------------------------------------------------- ---------------------------- -------------------------
Total Financial Services liabilities 485.8 589.2
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Current liabilities 8.4 8.1
---------------------------------------------------- ---------------------------- -------------------------
Total liabilities 494.2 597.3
---------------------------------------------------- ---------------------------- -------------------------
Total shareholders' equity 55.8 57.7
Total liabilities and shareholders' equity 550.0 655.0
---------------------------------------------------- ---------------------------- -------------------------
Summarized Consolidated Statements of Cash Flows (unaudited)
US dollars in millions
9 Months ended December 31 2015 2014
$m $m
March 01, 2016 10:20 ET (15:20 GMT)
------------------------------------------------------------------ ---------------- ----------------
Cash flows from operating activities
Net (loss) income from operations (1.2) (2.0)
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 1.3 1.4
Provision for loan losses 10.9 10.9
Decrease in interest payable (0.2) (1.0)
Changes in assets and liabilities - net 0.7 24.2
Net cash provided by operating activities 11.5 33.5
------------------------------------------------------------------- ---------------- ----------------
Cash flows from investing activities
Purchase of property, plant and equipment (net of disposals) (1.2) (0.5)
Decrease in interest-bearing deposits with correspondent banks 48.6 (20.6)
Decrease (increase) in investment securities 28.5 (0.9)
(Increase) in Government of Belize securities and receivables - (15.8)
Decrease in loans (net of charge-offs) to customers 4.0 (16.7)
Net cash provided by investing activities 79.9 (54.5)
------------------------------------------------------------------- ---------------- ----------------
Cash flows from financing activities
(Decrease) in deposits (100.6) (18.1)
Other movements (0.7) 0.1
Net cash (utilized) by financing activities (101.3) (18.0)
------------------------------------------------------------------- ---------------- ----------------
Net change in cash, cash equivalents and due from banks (9.9) (39.0)
Cash, cash equivalents and due from banks at beginning of period 183.7 174.5
Cash, cash equivalents and due from banks at end of period 173.8 135.5
------------------------------------------------------------------- ---------------- ----------------
Cash - financial services 172.3 135.4
Cash - corporate 1.5 0.1
173.8 135.5
------------------------------------------------------------------ ---------------- ----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTEASDFEFSKEFF
(END) Dow Jones Newswires
March 01, 2016 10:20 ET (15:20 GMT)
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