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QIH Qihang Equip

5.50
0.00 (0.00%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Qihang Equip LSE:QIH London Ordinary Share GB00B030LW50 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Eastbridge Investments PLC Interim Results (6945A)

30/09/2015 8:17am

UK Regulatory


Qihang Equip (LSE:QIH)
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TIDMEBIV

RNS Number : 6945A

Eastbridge Investments PLC

30 September 2015

Eastbridge Investments Plc

(The "Company" or "Eastbridge")

Interim Results for the six months ended 30 June 2015

I am pleased to present the interim results for Eastbridge Investments Plc for the six months ended 30 June 2015.

Financial Overview

There was a loss from continuing operations for the period of GBP161,000 (2014: GBP12,188 restated).

Review of Activities

On 9 January 2015 Eastbridge held a general meeting at which the disposal of the Company's former business and adoption of a new investing policy focused on the property and real estate sector was approved by shareholders.

Since then, we have successfully raised over GBP400,000 through the issue of new equity to investors in order to progress our investing policy and have identified a number of potential investment targets. However, it has become apparent to the Directors that the likelihood of obtaining the additional financing required to complete any of these investments, for which approximately another GBP600,000 would be needed, is slim and diminishing. As such we have been considering how best to generate possible returns for shareholders and expect to make further announcements in the near future.

Greg Collier

Chairman

30 September 2015

Enquiries:

 
 Greg Collier, Chairman                Tel: 07830 182501 
------------------------------------  ------------------- 
 Nominated Adviser                     Tel: 020 7382 1100 
  Northland Capital Partners Limited 
  William Vandyk / Matthew Johnson 
------------------------------------  ------------------- 
 Broker                                Tel: 020 7469 0930 
  Peterhouse Corporate Finance 
  Fungai Ndoro/ Lucy Williams 
------------------------------------  ------------------- 
 

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 JUNE 2015

 
                                    Note    Six months    Six months       Restated 
                                              ended 30      ended 30     Year ended 
                                             June 2015     June 2014    31 December 
                                             Unaudited     Unaudited           2014 
                                                                            Audited 
                                               GBP'000       GBP'000        GBP'000 
 
 Revenue                                             -         6,875              - 
 Cost of sales                                       -       (5,396)              - 
                                          ------------  ------------  ------------- 
 
 Gross profit                                        -         1,479              - 
 Other operating income                              -            47              - 
 Distribution expenses                               -         (335)              - 
 Administrative expenses                         (157)       (1,542)          (257) 
                                                        ------------ 
 
 Loss from operations                                          (351)          (257) 
 Non-operating income net of                         -            36              - 
  expenses 
 Income from subsidies                               -             -              - 
 Investment income                                   -            38              - 
 Finance costs                                     (4)         (715)       (11,931) 
                                                        ------------ 
 
 Loss before tax                                 (161)         (991)       (12,188) 
 Income tax (expense)/credit           6             -             - 
                                          ------------  ------------  ------------- 
 
 Loss for the period                             (161)         (991)       (12,188) 
                                          ============  ============  ============= 
 
 Total comprehensive income 
  for the period                                 (161)         (991)       (12,188) 
                                          ============  ============  ============= 
 
 Loss attributable to 
  Equity holders of the company                  (161)         (991)       (12,188) 
                                                        ============ 
 
 Loss per share 
 
 Basic and diluted                     4       (0.122)       (0.008)       (20.30)p 
 
 

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2015

 
                                  Note         30 June       30 June       Restated 
                                                  2015          2014    31 December 
                                             Unaudited     Unaudited           2014 
                                                                            Audited 
                                               GBP'000       GBP'000        GBP'000 
 Non-current assets 
 Property, plant and equipment                     160        16,206              - 
 Intangible assets                                   -         3,960              - 
 Deferred tax assets                                 -           489              - 
                                          ------------  ------------  ------------- 
                                                   160        20,656              - 
                                          ------------  ------------  ------------- 
 Current assets 
 Inventories                                         -        10,267              - 
 Trade and other receivables                         2         5,465              2 
 Cash and cash equivalents                           8         3,209            106 
                                          ------------  ------------  ------------- 
                                                    10        18,942            108 
                                          ------------  ------------  ------------- 
 
 Total assets                                      170        39,598            108 
                                          ============  ============  ============= 
 
 Equity and reserves 
 Share capital                                   1,517         1,501          1,501 
 Share premium                                   8,708         8,260          8,260 
 Other reserves                                     30       (1,363)             11 
 Retained earnings                            (10,279)       (5,615)       (10,118) 
                                                        ------------ 
                                                  (24)         2,783          (346) 
                                          ------------  ------------  ------------- 
 Non-current liabilities 
 Borrowings                                         90         4,580             39 
 Deferred tax liabilities                            -           965              - 
                                          ------------  ------------  ------------- 
                                                    90         5,545             39 
                                          ------------  ------------  ------------- 
 Current liabilities 
 Borrowings                                          -        14,620              - 
 Income tax liabilities                              -           102              - 
 Trade and other payables                          104        16,548            415 
                                          ------------  ------------  ------------- 
                                                   104        31,270            415 
                                                        ------------ 
 
 Total liabilities                                 194        36,815            454 
                                          ============  ============  ============= 
 
 Total equity and liabilities                      170        39,598            108 
                                          ============  ============  ============= 
 

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2015

 
 
                                     Share       Share     Retained     Loan Note      Total 
                                   capital     premium     earnings        Equity     equity 
                                                                          Reserve 
                                   GBP'000     GBP'000      GBP'000       GBP'000    GBP'000 
 
 At 31 December 2013                 1,451       8,260        2,070             -     11,781 
 
   Issue of Share capital               50           -            -             -         50 
 Convertible loan note                   -           -            -            11         11 
                                ----------  ----------  -----------  ------------  --------- 
 Total comprehensive loss for 
  the year                               -           -     (12,188)             -   (12,188) 
                                ----------  ----------  -----------  ------------  --------- 
 
 At 31 December 2014                 1,501       8,260     (10,118)            11      (346) 
 
 Issue of share capital                 16         488            -             -        504 
 Share issue costs                       -        (40)            -             -       (40) 
 Redemption of loan note                 -           -            -          (11)       (11) 
 Issue of loan note                      -           -            -            30         30 
                                ----------  ----------  -----------  ------------  --------- 
 Total comprehensive loss for 
  year                                   -           -        (161)             -      (161) 
                                ----------  ----------  -----------  ------------  --------- 
 
 
 Balance at 30 June 2015             1,517       8,708     (10,279)            30       (24) 

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September 30, 2015 03:17 ET (07:17 GMT)

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