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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Conduity Capital Plc | LSE:CCAP | London | Ordinary Share | GB00BMX66220 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.975 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNTLG
RNS Number : 7017D
New Trend Lifestyle Group plc
27 June 2019
For immediate release:
27 June 2019
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
New Trend Lifestyle Group Plc
("NTLG" or the "Company")
Final Results for the year ended 31 December 2018
New Trend Lifestyle Group Plc (AIM: NTLG), the Singapore-based Feng Shui products and services group, today announces its audited final results for the year ended 31 December 2018.
CHAIRMAN'S & CEO'S STATEMENT, INCLUDING FINANCIAL REVIEW
Background and summary of trading performance
The Group's trading performance showed an improvement in the year, with the sales and marketing initiatives implemented taking effect. This, together with the tight control of costs, resulted in the Group reporting a reduced loss for the year. The trading conditions in Singapore remained challenging, and the Board remain cautious about the continued improvement.
Trading
Sales in the year were SGD6,491k (2017 : SGD4,743k), an increase of 36.85%. The Group loss before tax from continuing operations showed an improvement on the prior year at SGD390k (2017 : SGD1,559k), mainly as a result of the increase in sales, but this also due to the cost reductions and tight control achieved by the Board during the year.
The Group disposed of Le Queenz Pte. Ltd (a wholly owned subsidiary of New Trend Lifestyle Pte. Ltd) in the period and is now focussed solely on its core activities of providing feng shui products and services.
Costs in the UK were SGD357k (2017 : SGD378k).
Balance sheet
Net inventories increased to SGD723k (2017: SGD689k).
Cash flow
Cash in hand at the year end was SGD1,216k (2017 : SGD2,119k), and the Group continues to manage its cash within its available resources.
Current trading and outlook
Unaudited revenue in the first quarter of 2019 has shown continued improvement compared to 2018, at SGD1,858k (2017 Q1 : SGD1,645k). This has been as a result of continued success with the sales and marketing initiatives. The Board continue to focus on improving sales, whilst maintaining a tight control on costs, such that trading performance continues to improve.
There has been little progress with the sourcing of a new acquisition, as the Board has been focussed on the improvement in trading performance. The Board will continue to update shareholders as and when there is any significant progress in this regard.
POST BALANCE SHEET EVENTS
In April 2019, New Trend Lifestyle Pte Ltd ("NTLSG") entered into a business partnership agreement with GDI Capital Corporation Pte Ltd, who subscribed for 500,000 shares in NTLSG for SGD100,000.
Gregory Collier Phang Song Hua CHAIRMAN CHIEF EXECUTIVE
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Notes Year ended Year ended Continuing operations 31 December 31 December 2018 2017 SGD'000 SGD'000 ----------------------------------- ----- ---------------- --------------- Revenue 5 6,491 4,743 ---------------- --------------- Direct purchases and costs (1,545) (1,398) Personnel expenses 7 (3,044) (2,656) Depreciation and amortisation expenses (310) (239) Finance expenses 8 (97) (259) Commission expenses (20) 1 Advertising and promotional expenses (320) (124) Bank charges (156) (141) Operating lease expenses (1,219) (1,208) Other operating expenses 9 (652) (796) Loss on Disposal (8) (249) Other income 6 520 840 Loss before tax (360) (1,486) Income tax (charges) / credits 10 - - ---------------- --------------- Profit/(Loss) from continuing operations (360) (1,486) ---------------- --------------- Loss from discontinued operations (30) (73) ---------------- --------------- Profit/(Loss) for the year (390) (1,559) Other comprehensive income: Exchange loss arising on translation of foreign operations - - ---------------- --------------- Total comprehensive Profit/(loss) for the year (390) (1,559) ---------------- --------------- Attributable to: - Owners of the parent (390) (1,559) ---------------- --------------- Basic and diluted loss per share SGD SGD From continuing operations 11 (0.002) (0.01) From discontinued operations 11 (0.00) (0.00) ---------------- --------------- (0.002) (0.01)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Notes 31 December 31 December 2018 2017 SGD'000 SGD'000 -------------------------------------- ----------- ------------- ASSETS Non-current assets Property, plant and equipment 15 1,280 1,396 Investment property 14 1,904 1,959 Intangible Assets 16 - 23 3,184 3,378 ----------- ------------- Current assets Inventories 17 723 689 Trade and other receivables 18 428 500 Cash and cash equivalents 19 1,216 2,119 ----------- ------------- 2,367 3,309 ----------- ------------- Total assets 5,551 6,687 ----------- ------------- EQUITY and LIABILITIES Capital and reserves attributable to equity shareholders Share capital 23 333 243 Share premium 23 3,033 2,221 Other reserves 295 303 Group reorganisation reserve 2,845 2,845 Currency translation reserve (61) (61) Accumulated deficit (7,027) (6,637) ----------- ------------- Total equity (582) (1,086) ----------- ------------- Non-current liabilities Restoration costs 22 55 48 Financial Liabilities 21 2,715 2,753 ----------- ------------- 2,770 2,801 ----------- ------------- Current liabilities Trade and other payables 20 2,427 3,570 Financial Liabilities 21 912 1,357 Restoration costs 22 24 45 ----------- ----------- 3,363 4,972 ----------- ----------- Total equity and liabilities 5,551 6,687 ----------- -----------
CONSOLIDATED STATEMENT OF CASH FLOWS
Notes Year ended Year ended 31 December 31 December 2018 2017 SGD'000 SGD'000 --------------------------------------------- ------------ ------------ Cash flows from operating activities Loss before income tax (360) (1,559) Adjustments for: Depreciation and amortisation expense 310 272 Interest expense 97 259 Foreign exchange differences - 196 47 (832) Changes in working capital:- Decrease in inventories (34) (6) Decrease in receivables 73 (155) Increase/(decrease) in payables (1,054) 946 Hired Purchase (176) - Cash generated from operations (1,144) (47)
Net cash(outflow)/ inflow from operating activities (1,144) (47) ------------ ------------ Cash flows from investing activities Acquisition of property, plant and equipment 15 (170) (24) Proceeds from disposal of PPE 15 25 59 Net cash (outflow) from investing activities (145) 35 ------------ ------------ Cash flows from financing activities Repayment of loan notes 22 483 - Interest paid (97) (259) Net cash from financing activities 386 (259) ------------ ------------ Net increase/(decrease) in cash and cash equivalents (903) (271) Cash and cash equivalents at start of year - cash 2,119 2,390 Cash and cash equivalents at end of year 19 1,216 2,119 ------------ ------------
Cash and cash equivalents (which are presented as a single class of assets on the face of the balance sheet) comprise cash at bank and other short-term highly liquid investments with maturity of three months or less, as adjusted for any bank overdrafts.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Attributable to equity shareholders of the Company Share Share Accumulated Other Group Currency Total capital premium deficit reserves reorganisation translation reserve reserve SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 At 1 January 2017 243 2,221 (5,078) 305 2,845 (259) 277 Comprehensive income Loss for the period - - (1,559) - - - (1,559) Other comprehensive income Currency translation reserve - - - - - 198 198 Total comprehensive income for the year - - (1,559) - - 198 (1,361) Shares issued in the period - - - - - - - Convertible loan notes - - - (2) - - (2) At 31 December 2017 243 2,221 (6,637) 303 2,845 (61) (1,086) At 1 January 2018 243 2,221 (6,637) 303 2,845 (61) (1,086) Comprehensive income Profit/(Loss) for the period - - (390) - - - (390) Other comprehensive income Currency translation reserve - - - - - - - Total comprehensive income for the year - - (390) - - - (390) Shares issued in the period 90 812 - - - - 902 Convertible loan notes - - - (8) - - (8) At 31 December 2018 333 3,033 (7,027) 295 2,845 (61) (582) Share capital Amount subscribed for shares at nominal value. Share premium Amount subscribed for share capital in excess of nominal value. Other reserves Cumulative amounts charged in respect of share based payments for unsettled warrants issued and the equity portion of convertible loans issued. Group reorganisation Effect on equity of the group reorganisation. See reserve Note 2. Accumulated surplus Cumulative surplus of the Group attributable to equity shareholders.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. General information
New Trend Lifestyle Group Plc ("the Company") is a company incorporated in England on 21 March 2012 under the Companies Act 2006 but domiciled in Singapore. It was listed on the AIM market on 28 June 2012. The address of the registered office is given at the start of the annual report. The nature of the Group's operations and its principal activities are set out in the Chairman's Statement on pages 2 to 3.
2. Basis of preparation and significant accounting policies
The consolidated financial statements of New Trend Lifestyle Group Plc have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS's as adopted by the EU), IFRS Interpretations Committee and the Companies Act 2006 applicable to companies reporting under IFRS. The consolidated financial statements have been prepared under the historical cost convention, available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.
The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3.
3. Notes to the Consolidated Financial Statements
The notes to the consolidated financial statements, which are an integral part of these consolidated financial statements, are contained in the full Report and Accounts for New Trend Lifestyle Group Plc.
4. Availability of the Report and Accounts
A copy of the Company's Report and Accounts for the year ended 31 December 2018 will be posted to shareholders and will be available on the Company's website: www.newtrendlifestylegroup.com.
END
For further information:-
New Trend Lifestyle Group Plc Gregory Collier, Non-Executive Chairman +44 (0) 7830 182501 SPARK Advisory Partners Limited (NOMAD) +44 (0) 20 3368 Mark Brady/Neil Baldwin 3551 SI Capital Ltd (Broker) Nick Emerson +44 (0)1483 413500
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 27, 2019 09:51 ET (13:51 GMT)
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