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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 : 2140S
New Trend Lifestyle Group plc
29 September 2017
For immediate release, 29 September 2017
Half Year Report
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
New Trend Lifestyle Group Plc
("NTLG" or the "Company" or the "Group")
Unaudited interim results for the six months ended 30 June 2017
New Trend Lifestyle Group (AIM: NTLG), the Singapore-based Feng Shui products and services group, announces its interim results for the six months to 30 June 2017.
The Directors of the issuer accept responsibility for this announcement. For further information please contact: New Trend Lifestyle Group Plc Gregory Collier, Non-Executive Chairman +44 (0) 7830 182501 SPARK Advisory Partners Limited (NOMAD) Mark Brady/Neil Baldwin +44 (0) 20 3368 3551 SI Capital Ltd (Broker) Nick Emerson +44 (0)1483 413500 Or visit our website: www.newtrendlifestylegroup.com
Chairman's Statement
Results for the period
Revenue in the period declined significantly against the corresponding period last year, at SGD2,017k (1H-2016: SGD3,316k), continuing the downward trend that the Group has been experiencing for some time and we have mentioned consistently in our recent statements. The trading conditions in Singapore remain challenging for the foreseeable future.
The total comprehensive loss of for the period was SGD1,106k (1H-2016 : SGD359k loss). The Board continues to keep tight control of our costs, continuing to make reductions, where possible, to mitigate against the declining revenue; so minimising losses until market conditions improve.
In addition to this, the Group continues to try to promote its services through new sales and marketing initiatives as well as through its retail stores,
Cash at bank at the period end was lower than at the same date last year at SGD1,401k (1H-2016 : SGD1,766k).
Update on acquisition strategy
The Board has evaluated a number of potential acquisition targets in line with our stated strategy, which we outlined last year, however, none of these businesses which we identified has proved to be suitable to take forward. The Board will continue with this approach as we feel that the Group, in its present shape, will not grow in the current environment unless there is a significant economic upturn in our market.
In the light of this, we continue to try and manage our cash resources as best we can and continue, wherever possible to save cost, without compromising our ability to develop the business and increase revenue.
Outlook
As we have outlined above, the second half of the year has started in the same way as the first half ended and trading conditions in Singapore continue to be very challenging. We expect our results for the second half are going to be significantly lower than the corresponding period last year and we anticipate that the full year results to 31 December 2017 will be below last year.
Throughout this difficult period, the staff have continued to work extremely hard to try and improve the situation as best they can. On behalf of the Board and the shareholders, I would like to thank them all for their hard work and dedication in this difficult period.
Gregory Collier
Chairman
New Trend Lifestyle Group Plc
Consolidated Comprehensive Income Statement
For the period to 30 June 2017
Notes Six months Six months Year ended to 30 to 31 December June 2017 30 June 2016 Unaudited 2016 Audited Unaudited SGD'000 SGD'000 SGD'000 Revenue 2,017 3,316 5,512 Cost of Sales (554) (946) (1,611) ------------ ------------ ------------ Gross Profit 1,463 2,370 3,901 ------------ ------------ ------------ Administrative expenses (2,864) (3,261) (6,241) Other income 355 174 656 ------------ ------------ ------------ Operating Loss 4 (1,046) (717) (1,684) Finance expense (60) (35) (137) ------------ ------------ ------------ Loss before tax (1,106) (752) (1,821) Income tax charges - - (2) ------------ ------------ ------------ Loss from continuing operations (1,106) (752) (1,823) Loss on discontinued operation - - (344) ------------ ------------ ------------ Loss for the year (1,106) (752) (2,167) Other comprehensive income/(loss) for the period - 393 (1) ------------ ------------ ------------ Total comprehensive loss for the Period (1,106) (359) (2,168) Attributable to: - Owners of the parent (1,106) (359) (2,168) Loss per share Basic and diluted loss per share 6 (0.011) (0.008) (0.02)
New Trend Lifestyle Group Plc
Consolidated Statement of Financial Position as at 30 June 2017
Notes As at As at As at 30 June 30 June 31 December 2017 2016 2016 Unaudited Unaudited Audited SGD'000 SGD'000 SGD'000 Assets Non-current assets Intangibles - - 51 Property, plant and equipment 1,490 1,449 1,619 Investment property 2,023 2,042 2,015 ------------ ------------ ------------ 3,513 3,491 3,685 ------------ ------------ ------------ Current assets Cash and cash equivalents 8 1,401 1,766 2,390 Trade and other receivables 559 1,100 346 Inventories 652 775 683 ------------ ------------ ------------ 2,612 3,641 3,419 ------------ ------------ ------------ Total assets 6,125 7,132 7,104 Equity and liabilities Capital and reserves Issued capital 7 243 199 243 Share premium 2,221 1,731 2,221 Other reserves 305 360 305 Group reorganisation reserve 2,845 2,845 2,845 Currency translation reserve (159) 135 (259) Accumulated surplus (6,184) (3,663) (5,078) ------------ ------------ ------------ Total equity (729) 1,607 277 ------------ ------------ ------------ Non-current Liabilities Restoration costs - 97 89 Borrowings - - 3,171 ------------ ------------ ------------ - 97 3,260 ------------ ------------ ------------ Current liabilities Trade and other payables 3,743 1,045 2,205 Short term borrowings 3,111 3,501 1,354 Convertible loan - 882 - notes Restoration costs - - 8 Current income tax - - - liabilities ------------ ------------ ------------ 6,854 5,428 3,567 ------------ ------------ ------------ Total equity and liabilities 6,125 7,132 7,104
New Trend Lifestyle Group Plc
Consolidated Statement of Cash Flows
For the six months to 30 June 2017
6 Months 6 Months Year to to to 30 June 30 June 31 Dec 2017 2016 2016 Notes Unaudited Unaudited Audited SGD'000 SGD'000 SGD'000 Cash flows from operating activities Loss before income tax (1,106) (752) (2,167) Adjustments for: Depreciation and amortisation expense 187 249 443 Loss on disposal of fixed assets - - 71 Interest expense 61 41 91 Gain on disposal of plant and equipment - - 8 Reversal of provision for restoration costs - (68) (68) Foreign exchange differences - - 81 Movement in reserves 100 114 - Loss of written - 51 - off property, plant and equipment Goods in Transit 18 - - ------------ ------------ ------------ (740) (365) (1,541) Changes in working capital:- Inventories 31 89 174 Trade and other receivables (213) (54) 419 Trade and other payables 1,432 (329) 846 Provision for restoration costs - - 23 ------------ ------------ ------------ Cash consumed in operations 510 (659) (79) Income tax paid - - (2) ------------ ------------ ------------ Net cash consumed in operating activities 510 (659) (81) ------------ ------------ ------------ Cash flows from investing activities Purchase of plant and equipment (24) (188) (595) ------------ ------------ ------------ Net cash consumed in investing activities (24) (188) (595) ------------ ------------ ------------ Cash flows from financing activities Proceeds from bank borrowings (net) - 34 252 Repayment of bank loans (1,414) (204) (428) Proceeds/(repayment) - (30) - of convertible loan Interest paid (61) (41) (91) Net proceeds from share issue - - 479 ------------ ------------ ------------ Net cash from/(consumed in) financing activities (1,475) (241) 212 ------------ ------------ ------------ Net change in cash and cash equivalents (989) (1,088) (464) Cash and cash equivalents at beginning of year 2,390 2,854 2,854 ------------ ------------ ------------ Cash and cash equivalents at end of year 1,401 1,766 2,390
New Trend Lifestyle Group Plc
Consolidated statement of changes in equity
For six months to 30 June 2017
Share Share Other Group Currency Total capital premium reserves reorganisation translation Retained reserve reserve profits SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 Balance at 30 June 2015 199 1,731 (2,019) 360 2,845 (205) 2,911 Loss for the period - - (892) - - - (892) Currency translation - - - - - (53) (53) Convertible loan notes - - - - - - - ------------ ------------ ------------ ------------ ------------ ------------ ------------ Balance at 31 December 2015 199 1,731 (2,911) 360 2,845 (258) 1,966 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Loss for the period - - (752) - - - (752) Currency translation - - - - 393 393 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Balance at 30 June 2016 199 1,731 (3,663) 360 2,845 135 1,607 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Loss for the period - - (1,415) - - - (1,415) Shares issued in the period 44 490 - - - - 534 Currency translation - - - - - (394) (394) Convertible Loan note - - - (55) - - (556) Balance at 31 December 2016 243 2,221 (5,078) 305 2,845 (259) 277 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Loss for the period - - (1,106) - - - (1,105) Convertible - - - - - - - Loan note Currency translation - - - - - 100 100 At 30 June 2017 243 2,221 (6,184) 305 2,845 (159) (729)
New Trend Lifestyle Group Plc
Notes to the unaudited Interim Financial Information
1. General Information
New Trend Lifestyle Group Plc ("NTLG" or "Company" or "Group") is a public limited company incorporated in England and Wales with company number 8000104 and is quoted on the AIM market of the London Stock Exchange Plc.
2. Basis of Preparation
This interim report, which incorporates the financial information of the Group, has been prepared using the historical cost convention, on a going concern basis and in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union, using accounting policies which are consistent with those set out in the financial statements for the year ended 31 December 2016.
Taxes
Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings.
Standards and Interpretations adopted with no material effect on financial statements
There are no IFRS or IFRIC interpretations that are effective for the first time in this financial period that would be expected to have a material impact on the Group.
There are no other IFRS or IFRIC interpretations that are not yet effective that would be expected to have material impact on the Group.
New Trend Lifestyle Group Plc
Notes to the unaudited Interim Financial Information
3. Segmental Analysis
Segmental reporting
In the opinion of the Directors the Group has one class of business, being the provider of Feng Shui products and services in Singapore and mainland China.
The Group's primary reporting format is determined by the geographical segment according to the location of its establishments. There are currently two geographic reporting segments: Singapore and China.
6 months to 30 June 2017 ---------------------------------- ---------- Singapore China and Total HK UK Unaudited Unaudited Unaudited Unaudited SGD'000 SGD'000 SGD'000 SGD'000 ------------------------ ---------- ---------- ---------- ---------- Income Statement Revenue 2,017 - - 2,017 Other income 331 23 1 355 Direct and operating costs (3,248) (10) (220) (3,478) Group loss before tax (900) 13 (219) (1,106) ------------------------ ---------- ---------- ---------- ---------- Assets and Liabilities Segment Assets 5,920 32 173 6,125 Segment Liabilities (6,554) (15) (285) (6,854) ------------------------ ---------- ---------- ---------- (634) 17 (112) (729) ------------------------ ---------- ---------- ---------- ---------- 6 months to 30 June 2016 ---------------------------------- ---------- Singapore China and Total HK UK Unaudited Unaudited Unaudited Unaudited SGD'000 SGD'000 SGD'000 SGD'000 ------------------------ ---------- ---------- ---------- ---------- Income Statement Revenue 3,316 - - 3,316 Other income 164 (16) 26 174 Direct and operating costs (4,001) (8) (233) (4,242) Group profit/(loss) before tax (521) (24) (207) (752) ------------------------ ---------- ---------- ---------- ---------- Assets and Liabilities Segment Assets 6,791 310 31 7,132 Segment Liabilities (4,396) (14) (1115) (5,525) ------------------------ ---------- ---------- ---------- 2,395 296 (1,084) 1,607 ------------------------ ---------- ---------- ---------- ---------- Year to 31 December 2016 -------------------------------- -------- Singapore China and Total HK UK Audited Audited Audited Audited SGD'000 SGD'000 SGD'000 SGD'000 ------------------------ ---------- ---------- -------- -------- Income Statement Revenue 5,512 - - 5,512 Other income 589 5 66 660 Direct and operating costs (7,567) (349) (423) (8,339) Group profit/(loss) before tax (1,466) (344) (357) (2,167) ------------------------ ---------- ---------- -------- -------- Assets and Liabilities Segment Assets 6,750 35 319 7,104 Segment Liabilities (6,551) (19) (257) (6,827) ------------------------ ---------- ---------- -------- -------- 199 16 62 277 ------------------------ ---------- ---------- -------- --------
New Trend Lifestyle Group Plc
Notes to the unaudited Interim Financial Information
4. Operating loss for the period is stated after charging 6 Months 6 Months Year to to to 31 December 30 June 30 June 2016 2017 2016 Audited Unaudited Unaudited SGD'000 SGD'000 SGD'000 Depreciation 187 249 443 5. Directors' emoluments 6 Months 6 Months Year to to to 31 December 30 June 30 June 2016 2017 2016 Audited Unaudited Unaudited NTLG Total NTL SGD'000 SGD'000 SGD'000 Robert Goddard - 36 36 Hillary Phang Song Hua 329 336 609 Ajay Kumar Rajpal 64 64 121 Gregory Collier 13 2 15 Leung Chi Chiu 11 1 10 Leung Bo Yee Nancy 9 1 10 6. Loss per share 6 Months 6 Months Year to to to 31 December 30 June 30 June 2016 2017 2016 Audited Unaudited Unaudited Loss per ordinary share Ð SGD Basic (0.011) (0.008) (0.02) Diluted (0.011) (0.008) (0.02)
Earnings per share has been calculated on the net basis on the loss after tax of SGD1,106,000 (31 December 2016 - loss SGD2,167,000; 30 June 2016 - loss SGD752,000) using the weighted average number of ordinary shares in issue of 125,000,000 ((31 December 2016 - 108,356,164; 30 June 2016 - 100,000,000)
The weighted average number of ordinary shares in issue if fully diluted is 128,600,000 (31 December 2016 Ð 111,964,164; 30 June 2016 - 103,600,000).
New Trend Lifestyle Group Plc
Notes to the unaudited Interim Financial Information
7. Called up Share Capital
The issued share capital as at 30 June 2017 was 125,000,000 Ordinary Shares of 0.1p each.
8. Cash and cash equivalents As at As at As at 30 June 30 June 31 December 2017 2016 2016 Unaudited Unaudited Audited SGD'000 SGD'000 SGD'000 Cash and bank balance 1,401 1,766 2,390 Fixed deposits - - - ------------ ------------ ------------ Cash and bank balances as presented in the statement of financial position 1,401 1,766 2,390 Less: Pledge fixed - - - deposits ------------ ------------ ------------ Cash and cash equivalents as presented in the statement of cash flow 1,401 1,766 2,390 9. Events subsequent to 30 June 2017
There were no events subsequent to the period end.
10. The unaudited results for period ended 30 June 2017 do not constitute statutory accounts within the meaning of Section 435 of the Companies Act 2006. The comparative figures for the period ended 31 December 2016 for NTLG extracted from the audited financial statements which contained an unqualified audit report and did not contain statements under Sections 498 to 502 of the Companies Act 2006.
11. This interim financial statements will be, in accordance with the AIM Rules for Companies, available shortly on the Company's website at www.newtrendlifestylegroup.com .
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR LIFVDASIAFID
(END) Dow Jones Newswires
September 29, 2017 03:43 ET (07:43 GMT)
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