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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 : 1410L
Caribbean Investment Holdings Ltd
29 September 2016
This announcement contains inside information.
CARIBBEAN INVESTMENT HOLDINGS LIMITED ANNOUNCES FINAL RESULTS AND POSTING OF ANNUAL REPORT AND ACCOUNTS
Belize City, Belize, September 29, 2016 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL") announces its final results for the year ended 31 March 2016 and confirms that the annual report and accounts are now available to view on the Company's website, www.cihltd.co and are today being posted to shareholders.
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
Consolidated statements of comprehensive income (in US dollars)
2016 2015
Year ended March 31 $m $m
------------------------------------------------------------------- ------------------ ------------------
Financial Services
Interest income 37.6 40.4
Interest expense (7.9) (8.7)
--------------------------------------------------------------------- ------------------ ------------------
Net interest income 29.7 31.7
Allowance for loan losses (18.5) (17.8)
--------------------------------------------------------------------- ------------------ ------------------
11.2 13.9
Non-interest income 13.2 16.0
Non-interest expense (20.2) (24.4)
--------------------------------------------------------------------- ------------------ ------------------
Operating loss before non-recurring loss 4.2 5.5
Non-recurring net income (loss) 1.8 (14.5)
--------------------------------------------------------------------- ------------------ ------------------
Operating income (loss) - Financial Services 6.0 (9.0)
--------------------------------------------------------------------- ------------------ ------------------
Corporate
Corporate Income 1.1 1.2
Corporate expenses (3.9) (4.8)
--------------------------------------------------------------------- ------------------ ------------------
Operating loss - Corporate (2.8) (3.6)
--------------------------------------------------------------------- ------------------ ------------------
Net income (loss) before tax 3.2 (12.6)
Taxation (2.6) (4.6)
--------------------------------------------------------------------- ------------------ ------------------
Net income (loss) after tax and before other comprehensive income 0.6 (17.2)
Other comprehensive income:
Unrealized (losses) gains on securities (0.6) 0.6
--------------------------------------------------------------------- ------------------ ------------------
Total comprehensive income (loss) 0.0 (16.6)
Earnings (loss) per ordinary share (basic and diluted) $ 0.01 $ (0.17)
--------------------------------------------------------------------- ------------------ ------------------
Consolidated balance sheets (in US dollars)
2016 2015
At March 31 $m $m
-------------------------------------------------- ------------------ ------------------
Assets
Financial Services
Cash, cash equivalents and due from banks 172.1 183.6
Interest-bearing deposits 15.0 55.9
Investment securities 11.8 46.2
Loans - net 288.7 320.5
Property, plant and equipment - net 16.3 16.4
Government of Belize receivable 25.2 18.0
Other assets 17.5 8.2
Total Financial Services assets 546.6 648.8
--------------------------------------------------- ------------------ ------------------
Corporate
Cash and cash equivalents 4.9 -
Property, plant and equipment - net - 0.1
Other current assets 0.4 6.1
Total assets 551.9 655.0
--------------------------------------------------- ------------------ ------------------
Liabilities and shareholders' equity
Financial Services
Deposits 475.5 577.3
Interest payable 3.8 3.7
Provisions 0.4 -
Other liabilities 6.4 8.2
Total Financial Services liabilities 486.1 589.2
--------------------------------------------------- ------------------ ------------------
Corporate
Current liabilities 8.1 8.1
Total liabilities 494.2 597.3
--------------------------------------------------- ------------------ ------------------
Shareholders' equity:
Share capital (ordinary shares of no par value -
2016 and 2015 -103,642,984) 0.6 0.6
Additional paid-in capital 52.8 52.8
Treasury shares (21.7) (21.7)
Retained earnings 26.0 26.0
Total shareholders' equity 57.7 57.7
--------------------------------------------------- ------------------ ------------------
Total liabilities and shareholders' equity 551.9 655.0
--------------------------------------------------- ------------------ ------------------
Consolidated statements of cash flows (in US dollars)
2016 2015
Year ended March 31 $m $m
--------------------------------------------------------------------------- ------------------ ------------------
Cash flows from operating activities
Net income (loss) from operations 0.6 (17.2)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation 1.7 2.2
Allowance for loan losses 18.5 17.8
Changes in assets and liabilities:
Decrease in interest payable 0.1 (0.6)
(Increase) decrease in Government of Belize Receivable (7.2) 6.6
(Increase) decrease in other and current assets (3.6) 21.2
(Decrease) in other and current liabilities (1.4) (1.8)
Net cash provided by operating activities 8.7 28.2
--------------------------------------------------------------------------- ------------------ ------------------
Cash flows from investing activities
Purchase of property, plant and equipment (net of disposals) (1.5) (1.4)
Decrease (increase) in interest-bearing deposits with correspondent banks 40.9 (1.6)
Decrease (increase) in investment securities 34.4 (8.9)
Decrease in Government of Belize securities - 20.0
Decrease (increase) in loans (net of charge-offs) to customers 13.3 (12.1)
Net cash provided (utilized) by investing activities 87.1 (4.0)
--------------------------------------------------------------------------- ------------------ ------------------
Cash flows from financing activities
(Decrease) in deposits (101.8) (15.7)
Unrealized gains on securities (0.6) 0.6
Net cash (utilized) provided by financing activities (102.4) (15.1)
--------------------------------------------------------------------------- ------------------ ------------------
Net change in cash, cash equivalents and due from banks (6.6) 9.1
Cash, cash equivalents and due from banks at beginning of year 183.6 174.5
Cash, cash equivalents and due from banks at end of year 177.0 183.6
--------------------------------------------------------------------------- ------------------ ------------------
Cash - financial services 172.1 183.6
Cash - corporate 4.9 -
177.0 183.6
--------------------------------------------------------------------------- ------------------ ------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR SEFFWAFMSEIU
(END) Dow Jones Newswires
September 29, 2016 02:00 ET (06:00 GMT)
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