We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Drumz Plc | LSE:DRUM | London | Ordinary Share | GB00BR0WHY71 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.75 | 8.50 | 9.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMENGI 26 September 2019 Energiser Investments plc ('Energiser' or the 'Group') Half-yearly results to 30 June 2019 Energiser announces its half-yearly accounts for the six months to 30 June 2019. Chairman's statement I am pleased to present the interim results for Energiser Investments plc ("Energiser", "the Group" or "the Company") for the half year ended 30 June 2019. Energiser Investments plc is an investment company whose strategy is to invest in quoted and unquoted companies to achieve capital growth. The Company continues to look for opportunities and is currently invested in an AIM listed company, KCR Residential REIT plc ("KCR"). In March 2018, Energiser acquired 2,435,710 new KCR ordinary shares at 70p a share for a total of GBP1,704,997. As at 30 June 2019, the share price of KCR had dropped to 49p per share resulting in the Company's investment to be written down to GBP1,193,000. KCR is an AIM quoted Real Estate Investment Trust ("REIT") focused on investment in the UK residential Private Rented Sector ("PRS"). KCR invests in whole apartment blocks of studio, one and two-bedroom flats in city centres, close to railway stations and shopping facilities. It focuses on more affordable rental properties for private tenants. KCR's portfolio of properties was valued at GBP24.6m at 31 December 2018 an increase of GBP15.1m compared to 31 December 2017. Its net asset value per share at 31 December 2018 was 70.97p (30 June 2018: 88.17p). KCR's board remains positive in its strategy of investing in low to mid-price blocks of apartments for rental. It has found the reluctance of equity investors to fund companies through the stock market challenging for its own growth plans as it relies on raising equity and debt capital to grow its portfolio and rental income. On 12 July 2019 KCR announced some important developments to raise working capital, to provide a pipeline of new acquisitions and to extend its reach into international markets. The proposals, which were passed at a general meeting of KCR, are expected to provide it with access to capital, international development expertise and refinancing options. This is expected to accelerate KCR's objective of providing capital growth and dividend streams to investors. It will also enable KCR to extend its reach beyond the UK into new residential markets, including Australia, New Zealand and Germany. Results The Group had no revenues during the period (2018: Nil) as it had sold its revenue generating investments. The Group made a loss before tax of GBP172,000 (2018: profit GBP298,000) which included a provision against the investment in KCR of GBP122,000. Administrative expenses decreased from GBP63,000 to GBP50,000. The Group's net assets decreased to GBP1.10m (2018: GBP2.07m) translating into net asset value per share of 0.89p per share (2018:1.67p). Outlook We will continue to manage our investment in KCR and will also look for other investment opportunities to achieve capital growth. Stephen Wicks Chairman Group statement of comprehensive income Unaudited Unaudited Audited 6 months 6 months year to to 30 to 30 June 31 June 2019 2018 December 2018 Note GBP'000 GBP'000 GBP'000 Continuing operations Revenue arising in the course of ordinary activities - - - Cost of sales - - (1) Gross loss - - (1) Administrative expenses (50) (63) (92) Operating loss 5 (50) (63) (93) Finance income - 5 6 Other gains and losses (122) 356 (411) (Loss)/profit before taxation 5 (172) 298 (498) (Loss)/profit for the period attributable to (172) 298 (498) shareholders of the Company Total comprehensive (loss)/profit (172) 298 (498) (Loss)/earnings per share Basic and diluted (loss)/earnings per share from total 4 (0.14)p 0.24p (0.40)p and continuing operations Diluted earnings per share is taken as equal to basic earnings per share as the Group's average share price during the period is lower than the exercise price and therefore the effect of including share options is anti-dilutive. Group statement of financial position Unaudited Unaudited Audited as as at 30 as at 30 at 31 June 2019 June 2018 December 2018 Note GBP'000 GBP'000 GBP'000 ASSETS Non-current assets Investments 6 1,193 2,143 1,315 1,193 2,143 1,315 Current assets Trade and other receivables 15 44 8 Cash and cash equivalents 163 237 177 178 281 185 Total assets 1,371 2,424 1,500 LIABILITIES Current liabilities Trade and other payables 267 270 190 Deferred tax - 82 34 267 352 224 Total liabilities 267 352 224 Net assets 1,104 2,072 1,276 EQUITY Share capital 2,392 2,392 2,392 Share premium account 7,189 7,189 7,189 Convertible loan 88 88 88 Merger reserve 1,012 1,012 1,012 Retained earnings (9,577) (8,609) (9,405) Total equity 1,104 2,072 1,276 Group statement of changes in equity Share Share premium Convertible Merger Retained Total capital account loan reserve earnings equity GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 Balance at 1 January 2,392 7,189 88 1,012 (8,907) 1,774 2018 Total comprehensive - - - - 298 298 profit Balance at 30 June 2018 2,392 7,189 88 1,012 (8,609) 2,072 Total comprehensive - - - - (796) (796) loss Balance at 31 December 2,392 7,189 88 1,012 (9,405) 1,276 2018 Total comprehensive - - - - (172) (172) loss Balance at 30 June 2019 2,392 7,189 88 1,012 (9,577) 1,104 Group statement of cash flows Unaudited 6 Unaudited Audited months to 30 6 months year to June 2019 to 30 June 31 2018 December 2018 GBP'000 GBP'000 GBP'000 Cash flows from operating activities (Loss)/profit before taxation (172) 298 (498) Adjustments for: Loss on sale of investment properties - 23 - Fair value adjustment for listed investments 122 (356) 390 Interest income - (5) (6) Changes in working capital: - (Increase)/decrease in trade and other receivables (7) (11) 3 - Increase in trade and other payables 43 52 5 Net cash used in operating activities (14) (22) (83) Cash flows from investing activities Interest received - 6 -
Purchase of investments (1,705) (1,705) - Net cash used in investing activities (1,705) (1,699) - Cash flows from financing activities Interest received 5 - - Net cash generated by financing activities 5 - - Net decrease in cash and cash equivalents (14) (1,722) (1,782) Cash and cash equivalents at beginning of period 177 1,959 1,959 Cash and cash equivalents at end of period 163 237 177 1. Nature of operations and general information The principal activity of the Group is as an investing company investing in quoted and unquoted companies to achieve capital growth. Energiser Investments plc is the Group's ultimate parent company. It is incorporated and domiciled in Great Britain. The address of Energiser Investments plc's registered office, which is also its principal place of business, is Burnham Yard, London End, Beaconsfield, Buckinghamshire, HP9 2JH. Energiser Investments plc's shares are quoted on AIM, a market operated by the London Stock Exchange. The consolidated half-yearly financial report has been approved for issue by the Board of Directors on 25 September 2019. The financial information set out in this half-yearly financial report does not constitute statutory accounts as defined in Sections 434(3) and 435(3) of the Companies Act 2006. The Group's statutory financial statements for the year ended 31 December 2018 have been filed with the Registrar of Companies and are available at www.energiserinvestments.co.uk. The auditor's report on those financial statements was unqualified and did not contain any statement under Section 498(2) or Section 498(3) of the Companies Act 2006. 2. Basis of preparation This consolidated half-yearly financial report has been prepared in accordance with International Accounting Standard 34 - Interim Financial Reporting. The consolidated half-yearly financial report should be read in conjunction with the annual financial statements for the year ended 31 December 2018, which have been prepared in accordance with IFRS as adopted by the European Union. 3. Accounting policies The accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2018. The unaudited interim group statement of financial position for the 6 months ended 30 June 2018 has therefore been restated to reclassify the movement in the fair value in investments from other comprehensive income to fair value through profit or loss in line with the requirements of IFRS 9. 4. (Loss)/earnings per ordinary share The (loss)/earnings per ordinary share is based on the weighted average number of ordinary shares in issue during the period of 123,912,957 ordinary shares of 0.1p (2018: 123,912,957 ordinary shares of 0.1p) and the following figures: Unaudited Unaudited Audited 6 months 6 months year to to 30 to 30 31 June 2019 June 2018 December 2018 (Loss)/profit attributable to equity shareholders GBP'000 (172) 298 (498) (Loss)/earnings per ordinary share (0.14)p 0.24p (0.40)p Diluted earnings per share is taken as equal to basic earnings per share as the Group's average share price during the period is lower than the exercise price and therefore the effect of including share options is anti-dilutive. 5. Income and segmental analysis Unaudited 6 Unaudited 6 Audited year months to 30 June months to 30 June to 31 2019 2018 December 2018 GBP'000 GBP'000 GBP'000 Segment result Investment activities: Administrative expenses (50) (75) (105) (50) (75) (105) Rental activities: Rental income - - (1) Administrative expenses - 12 13 - 12 12 Operating loss (50) (63) (93) Finance income 5 6 - Other gains and losses (122) (411) 356 (Loss)/profit before tax (172) 298 (498) Unaudited as at Unaudited as at 30 Audited 30 June 2019 June 2018 as at 31 December 2018 GBP'000 GBP'000 GBP'000 Segment assets Investment activities: Non-current assets 2,143 1,315 1,193 Current assets - other 178 237 185 1,371 2,380 1,500 Rental activities: Current assets - other - 44 - - 44 - Total assets 1,371 2,424 1,500 Segment liabilities Investment activities: Current liabilities 267 234 224 267 234 224 Rental: Current liabilities - - 2 2 2 - - Current liabilities - corporation tax 34 - -34 Current liabilities - deferred tax - - 82 - 116 - 116 Total liabilities 267 352 224 Total assets less total liabilities 1,104 2,072 1,276 The activity of both the investments and rentals arose wholly in the United Kingdom. No single customer accounts for more than 10% of revenue. 6. Investments During the year ended 31 December 2018 the group acquired 2,435,710 shares in KCR Residential Reit PLC, an AIM listed real estate investment trust who specialise in the acquisition and management of rented residential portfolios in the UK. Investments GBP'000 Cost At 1 July 2017 and 31 December 2017 - Additions 1,705 Change in fair value recognised in profit and loss 438 At 30 June 2018 2,143 Fair value movements Change in fair value recognised in profit and loss (828) At 31 December 2018 1,315 Change in fair value recognised in profit and loss (122)
At 30 June 2019 1,193 This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. For further information, please contact: Energiser Investments plc John Depasquale +44 (0) 1494 762450 Nishith Malde +44 (0) 1494 762450 Cairn Financial Advisers LLP Jo Turner +44 (0) 20 7213 0880 Sandy Jamieson END
(END) Dow Jones Newswires
September 26, 2019 02:00 ET (06:00 GMT)
1 Year Drumz Chart |
1 Month Drumz Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions