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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 : 1398R
Caribbean Investment Holdings Ltd
07 December 2016
CARIBBEAN INVESTMENT HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE FIRST QUARTERED JUNE 30, 2016
Belize City, Belize, December 7, 2016 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL")
The Company reported a net loss from operations of $2.0m for the three months ended June 30, 2016 (2015 - net income of $1.8m), and a net loss per ordinary share from continuing operations for the three months of $0.02 (2015 - net income per share of $0.02).
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
3 months ended June 30 2016 2015
$m $m
Financial Services
Interest income 10.9 8.6
Interest expense (1.9) (2.0)
---------------------------------------------------------- ---------- --------
Net interest income 9.0 6.6
Provision for loan losses (6.6) (2.4)
Net non-interest expense (3.0) (0.9)
---------------------------------------------------------- ---------- --------
Operating (loss) income - Financial Services (0.6) 3.3
Corporate expenses (0.6) (0.8)
---------------------------------------------------------- ---------- --------
Net (loss) income before tax (1.2) 2.5
---------- --------
Taxation (0.8) (0.7)
---------------------------------------------------------- ---------- --------
Net loss after tax and before other comprehensive income (2.0) 1.8
---------------------------------------------------------- ---------- --------
Other comprehensive income:
Unrealized gains (losses) on securities 0.3 (0.8)
--------
Comprehensive (loss) income (1.7) 1.0
---------------------------------------------------------- ---------- --------
(Loss) income per ordinary share:
Basic and diluted:
Net (loss) income $ (0.02) $ 0.02
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 income - - - (2.0) (2.0)
At June 30, 2016 0.6 52.8 (21.7) 24.3 56.0
---------------------- ---------------- -------------------- ---------------- ---------------- ----------------
Summarized Consolidated Balance Sheets (unaudited)
US dollars in millions
June 30 March 31
2016 2016
$m $m
---------------------------------------------------- ---------------------------- -------------------------
Assets
Financial Services
Cash, cash equivalents and due from banks 166.7 172.1
Interest-bearing deposits with correspondent banks 25.0 15.0
Other securities 29.5 11.8
Current assets 221.2 198.9
---------------------------------------------------- ---------------------------- -------------------------
Loans - net 281.3 288.7
Property, plant and equipment - net 16.0 16.3
Government of Belize receivable 26.3 25.2
Other assets 10.8 17.5
----------------------------------------------------
Total Financial Services assets 555.6 546.6
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Cash and cash equivalents 4.5 4.9
Other current assets 0.5 0.4
Total assets 560.6 551.9
---------------------------------------------------- ---------------------------- -------------------------
Liabilities and shareholders' equity
Financial Services
Deposits 486.8 475.5
Interest payable 3.4 3.8
Other liabilities 6.2 6.8
---------------------------------------------------- ---------------------------- -------------------------
Total Financial Services liabilities 496.4 486.1
---------------------------------------------------- ---------------------------- -------------------------
Corporate
Current liabilities 8.2 8.1
---------------------------------------------------- ---------------------------- -------------------------
Total liabilities 504.6 494.2
---------------------------------------------------- ---------------------------- -------------------------
Total shareholders' equity 56.0 57.7
Total liabilities and shareholders' equity 560.6 551.9
---------------------------------------------------- ---------------------------- -------------------------
Summarized Consolidated Statements of Cash Flows (unaudited)
US dollars in millions
3 Months ended June 30 2016 2016
$m $m
------------------------------------------------------------------ ---------------- ----------------
Cash flows from operating activities
Net (loss) income from operations (2.0) 1.8
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 0.4 0.5
Provision for loan losses 6.6 2.4
Decrease in interest payable (0.4) (0.6)
Changes in assets and liabilities - net 5.0 (1.1)
Net cash provided by operating activities 9.6 3.0
------------------------------------------------------------------- ---------------- ----------------
Cash flows from investing activities
Purchase of property, plant and equipment (net of disposals) (0.1) (0.2)
Decrease in interest-bearing deposits with correspondent banks (10.0) 36.7
Decrease (increase) in investment securities (10.2) 23.3
(Increase) in Government of Belize securities and receivables (7.5) (30.3)
Decrease in loans (net of charge-offs) to customers 0.8 2.6
Net cash (utilized) provided by investing activities (27.0) 32.1
------------------------------------------------------------------- ---------------- ----------------
Cash flows from financing activities
(Decrease) in deposits 11.3 (79.0)
Other movements 0.3 (0.8)
Net cash provided (utilized) by financing activities 11.6 (79.8)
------------------------------------------------------------------- ---------------- ----------------
Net change in cash, cash equivalents and due from banks (5.8) (44.7)
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 171.2 138.9
------------------------------------------------------------------- ---------------- ----------------
Cash - financial services 166.7 138.5
Cash - corporate 4.5 0.4
171.2 138.9
------------------------------------------------------------------ ---------------- ----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFEADAKEEAKFAF
(END) Dow Jones Newswires
December 07, 2016 02:00 ET (07:00 GMT)
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