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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marechale Capital Plc | LSE:MAC | London | Ordinary Share | GB0005401087 | ORD 0.8P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.05 | 1.00 | 1.10 | 1.05 | 1.05 | 1.05 | 91,130 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investment Advice | 376k | -426k | -0.0040 | -2.63 | 1.11M |
TIDMMAC
RNS Number : 1397O
Marechale Capital PLC
25 January 2019
25 January 2019
Marechale Capital plc
("Marechale Capital" or the "Company")
Interim Results
Marechale Capital plc today announces its unaudited interim results for the six months ended 31 October 2018.
Chairman's Statement
I report poor operating results for the first half which are broadly in line with the same period last year: revenues of GBP136,000 (2017: GBP125,000); and an operating loss of GBP(251,000) (2017 GBP(279,000)). The Company's net loss of GBP(184,000) (2017: GBP(460,000)) is after taking into account a gain of GBP67,000 on the realisation of one investment and in 2017, making a provision against the fair value of options held in investee companies of GBP119,000 and a provision for project loss in an associate of GBP63,000. Whilst our current deal flow remains strong, a number of the transactions we are involved in are taking longer to complete.
Marechale Capital is highly selective about the management teams, as well as the companies, it advises and backs with its investor relationships. On a more positive note this long-term strategy has resulted in 2018 being the Company's best year for exits with 5 multiple investor return exits and one write-off. Successful exits include the Sheen Falls Lodge, West Country Renewables and Inn Collection and more details on these, and the other transactions, can be found on our website.
The Board of Marechale Capital continues to consider its options and its future strategy.
Mark Warde-Norbury
Chairman
For further information please contact:
Marechale Capital Tel: +44 (0)20 7628 Mark Warde-Norbury / Patrick Booth-Clibborn 5582 Cenkos Securities Tel: +44 (0)20 7397 Azhic Basirov / David Jones 8900 Consolidated Income Statement (unaudited) 6 months ended 31 October 31 October 2018 2017 GBP GBP Revenue 136,491 125,066 Cost of sales (61,611) (44,370) ----------- ----------- Gross profit 74,880 80,696 Administrative expenses (325,927) (358,988) ----------- ----------- Operating (loss) (251,047) (278,291) Investment revenues 67,389 - Other (losses) - (118,5000) Provision for project loss in associate (63,000) (Loss) before tax (183,658) (459,791) Taxation - - (Loss) for the period (183,658) (459,791) ----------- ----------- (Loss) per share (Pence) (Pence) - Basic (0.32) (0.69) - Diluted (0.32) (0.69) Consolidated Balance Sheet (unaudited) As at 31 October 31 October 2018 2017 GBP GBP Non current assets Investment in associate 14,038 14,187 Current assets Available for sale investments 107,087 153,341 Trading investments 78,388 78,388 Trade and other receivables 80,485 69,894 Cash and cash equivalents 63,172 98,110 ----------- ----------- 329,132 399,734 ----------- ----------- Total assets 343,170 413,921 Current liabilities Trade and other payables (117,107) (125,596) Total current liabilities (117,107) (125,596) ----------- ----------- Net assets 226,063 288,325 ----------- ----------- Equity Capital and reserves attributable to equity shareholders Share capital 461,449 461,449 Revaluation reserve 25,826 81,826 Reserve for own shares (50,254) (50,254) Retained losses (210,958) (289,150) Reserve for share based payments - 84,453 ----------- ----------- 226,063 288,325 ----------- ----------- Consolidated Cash Flow Statement (unaudited) 6 months ended 31 October 31 October 2018 2017 GBP GBP Net cash from operating activities Operating loss (251,047) (278,291) Operating cash flows before movements in working capital (251,047) (278,291) Movement in working capital Decrease in receivables 120,689 151,781 (Decrease) in payables (4,239) (77,755) 116,450 74,026 ------------- ----------- Operating cash flow (134,597) (204,265) ------------- ----------- Investment activities Proceeds on disposal of available for sale 91,529 - investments Expenditure on available for sale (12,700) - investments Other 600 - Cash flow from investing activities 79,429 - ------------- ----------- Financing Issue of share capital - - Interest payable - - Cash flow from financing activities - - ------------- ----------- Net decrease) in cash and cash equivalents (55,168) (204,265) ------------- ----------- Cash and cash equivalents at start of the period 118,340 302,375 Cash and cash equivalents at end of the period 63,172 98,110 (Decrease) in cash and cash equivalents (55,168) (204,265) ------------- -----------
This financial information has been prepared in accordance with IFRS and International Financial Reporting Interpretations Committee ('IFRIC') interpretations adopted by the European Union, and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, with the prior period being reported on the same basis.
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.
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(END) Dow Jones Newswires
January 25, 2019 05:16 ET (10:16 GMT)
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