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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 : 9974S
Caribbean Investment Holdings Ltd
29 December 2016
This announcement contains inside information.
CARIBBEAN INVESTMENT HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE SIX MONTHSED SEPTEMBER 30, 2016
Belize City, Belize, December 29, 2016 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL")
The Company reported a net loss from operations of $3.8m for the six months ended September 30, 2016 (2015 - net income of $2.5m), and a net loss per ordinary share from continuing operations for the six months of $0.04 (2015 - net income per share of $0.03).
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
6 months ended September 30 2016 2015
$m $m
Financial Services
Interest income 21.3 17.1
Interest expense (3.6) (4.0)
----------------------------------------------------------------- ---------- --------
Net interest income 17.7 13.1
Provision for loan losses (12.6) (4.9)
Net non-interest expense (5.4) (2.9)
----------------------------------------------------------------- ---------- --------
Operating (loss) income - Financial Services (0.3) 5.3
Corporate expenses (1.7) (1.5)
----------------------------------------------------------------- ---------- --------
Net (loss) income before tax (2.0) 3.8
---------- --------
Taxation (1.8) (1.3)
----------------------------------------------------------------- ---------- --------
Net loss income after tax and before other comprehensive income (3.8) 2.5
----------------------------------------------------------------- ---------- --------
Other comprehensive income:
Unrealized gains (losses) on securities 0.3 (0.9)
--------
Comprehensive (loss) income (3.5) 1.6
----------------------------------------------------------------- ---------- --------
(Loss) income per ordinary share:
Basic and diluted:
Net (loss) income $ (0.04) $ 0.03
Number of shares - basic and diluted 99.9m 99.9m
----------------------------------------------------------------- ---------- --------
Summarized Consolidated Statements of Changes in Shareholders' Equity
(unaudited)
US dollars in
millions
Additional
Share paid in Treasury Retained
capital capital shares earnings Total
$m $m $m $m $m
--------------------- ---------------- -------------------- ---------------- ---------------- ----------------
At March 31, 2015 0.6 52.8 (21.7) 26.0 57.7
Accumulated other
comprehensive income - - - (0.6) (0.6)
Net loss - - - 0.6 0.6
---------------------- ---------------- -------------------- ---------------- ---------------- ----------------
At March 31, 2016 0.6 52.8 (21.7) 26.0 57.7
Accumulated other
comprehensive income - - - 0.3 0.3
Net loss - - - (3.8) (3.8)
At September 30, 2016 0.6 52.8 (21.7) 22.5 54.2
---------------------- ---------------- -------------------- ---------------- ---------------- ----------------
Summarized Consolidated Balance Sheets (unaudited)
US dollars in millions
September 30 March 31
2016 2016
$m $m
---------------------------------------------------- ---------------------------- -------------------------
Assets
Financial Services
Cash, cash equivalents and due from banks 186.2 172.1
Interest-bearing deposits with correspondent banks 7.6 15.0
Government of Belize securities 34.0 -
Other securities 29.1 11.8
Current assets 256.9 198.9
---------------------------------------------------- ---------------------------- -------------------------
Loans - net 275.4 288.7
Property, plant and equipment - net 15.8 16.3
Government of Belize receivable 27.4 25.2
Other assets 20.1 17.5
----------------------------------------------------
Total Financial Services assets 595.6 546.6
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Cash and cash equivalents 3.7 4.9
Other current assets 0.6 0.4
Total assets 599.9 551.9
---------------------------------------------------- ---------------------------- -------------------------
Liabilities and shareholders' equity
Financial Services
Deposits 524.2 475.5
Interest payable 3.9 3.8
Other liabilities 9.4 6.8
---------------------------------------------------- ---------------------------- -------------------------
Total Financial Services liabilities 537.5 486.1
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Current liabilities 8.2 8.1
---------------------------------------------------- ---------------------------- -------------------------
Total liabilities 545.7 494.2
---------------------------------------------------- ---------------------------- -------------------------
Total shareholders' equity 54.2 57.7
Total liabilities and shareholders' equity 599.9 551.9
---------------------------------------------------- ---------------------------- -------------------------
Summarized Consolidated Statements of Cash Flows (unaudited)
US dollars in millions
6 Months ended September 30 2016 2015
$m $m
------------------------------------------------------------------ ---------------- ----------------
Cash flows from operating activities
Net (loss) income from operations (3.8) 2.5
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 0.8 0.9
Provision for loan losses 6.6 4.9
Decrease in interest payable 0.1 0.1
Changes in assets and liabilities - net (2.3) -
Net cash provided by operating activities 1.4 8.4
------------------------------------------------------------------- ---------------- ----------------
Cash flows from investing activities
Purchase of property, plant and equipment (net of disposals) (0.3) (0.6)
Decrease in interest-bearing deposits with correspondent banks 7.4 45.1
(Increase) decrease in investment securities (17.3) 32.0
(Increase) in Government of Belize securities and receivables (34.0) -
Decrease in loans (net of charge-offs) to customers 6.7 0.8
Net cash (utilized) provided by investing activities (37.5) 77.3
------------------------------------------------------------------- ---------------- ----------------
Cash flows from financing activities
Increase (decrease) in deposits 48.7 (99.7)
Other movements 0.3 (0.9)
Net cash provided (utilized) by financing activities 49.0 (100.6)
------------------------------------------------------------------- ---------------- ----------------
Net change in cash, cash equivalents and due from banks 12.9 (14.9)
Cash, cash equivalents and due from banks at beginning of period 177.0 183.6
Cash, cash equivalents and due from banks at end of period 189.9 168.7
------------------------------------------------------------------- ---------------- ----------------
Cash - financial services 186.2 168.2
Cash - corporate 3.7 0.5
189.9 168.7
------------------------------------------------------------------ ---------------- ----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BLBDDCXDBGLC
(END) Dow Jones Newswires
December 29, 2016 11:45 ET (16:45 GMT)
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