Marechale Capital Plc Half-yearly Results

 
TIDMMAC 
 
02 December 2022 
 
                             Marechale Capital plc 
 
              ("Marechale Capital", "Marechale" or the "Company") 
 
                              Half-yearly Results 
 
Marechale Capital plc, an established City of London based corporate finance 
house with a long-term track record and a strong reputation for advising and 
financing high growth consumer brands, leisure, clean energy, mineral 
extraction and technology companies, announces its unaudited half-yearly 
results for the six months ended 31 October 2022 ("the Period"). 
 
Chairman's Statement 
 
Following the significant value uplift in the Company's investments reported in 
Marechale's full year results released in August 2022, the Board continues to 
remain positive about the outlook for its investments. 
 
While Marechale Capital continues to see interesting corporate finance and 
advisory projects where it can take founders shares and warrants as part of its 
advisory fees, the market remains a challenging environment to raise capital. 
This has resulted in advisory projects launched in the summer not being 
completed by the end of the Period. Marechale continues to look for new funding 
partners alongside its traditional investor relationships. 
 
During the six months ended 31 October 2022 the company generated gross profits 
of £72,020 (2021: £227,435) and delivered an operating loss of £18,995 (2021: 
Loss £15,000), resulting in an overall loss before tax of £179,502 (compared to 
a Profit for the same period in 2021 of £1,501,000 which benefitted from 
significant investment revenues). 
 
As reported in August 2022, the Company's balance sheet shows a net asset value 
of £3,483,929 (2021: £2,395,105), representing 3.66p of value per share in 
issue. The Company remains positive about the investments that it holds in its 
client companies. As at 31 October 2022 the Company had £246,808 of cash 
reserves. 
 
The Board is working on a number of initiatives to create further value for 
shareholders over and above its core investment portfolio and corporate finance 
projects. Furthermore, the Board is hopeful to be able to announce realisations 
on some of the Company's investments in the next six months 
 
Whist the current economic climate is difficult, Marechale Capital is working 
hard and is convinced that there will be good advisory and investment 
opportunities in its core hospitality, renewable, clean energy and technology 
sectors over the short to medium term. 
 
Mark Warde-Norbury 
 
Chairman 
 
The information communicated in this announcement contains inside information 
for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 
 
For further information please contact: 
 
Marechale Capital                           Tel: [phone] 
Mark Warde-Norbury / Patrick Booth-Clibborn 
 
Cairn Financial Advisers LLP                Tel: [phone] 
Jo Turner / Sandy Jamieson 
 
 
 
Income Statement (unaudited) 
 
6 months ended 31 October                                      2022                  2021 
 
                                                                  £ 
 
Revenue                                                     168,001               497,194 
 
Cost of sales                                              (95,981)             (269,759) 
 
Gross profit                                                 72,020               227,435 
 
Administrative expenses                                   (251,015)             (242,926) 
 
Operating loss                                            (178,995)              (15,491) 
 
Investment revenues                                               -             1,517,036 
 
Interest paid                                                 (507)                 (310) 
 
(Loss/profit before tax                                   (179,502)             1,501,235 
 
Taxation                                                          -                     - 
 
(Loss)/profit after tax                                   (179,502)             1,501,235 
 
(Loss)/profit per share 
 
                                                            (Pence)               (Pence) 
 
                           - Basic                           (1.70)                  1.70 
 
                           - Diluted                         (1.63)                  1.65 
 
 
 
 
Balance Sheet (unaudited) 
 
As at                                                       31 October    31 October 
 
                                                                  2022          2021 
 
Current assets 
 
Available for sale investments                               3,116,441     1,982,566 
 
Trading investments                                            146,589        90,013 
 
Trade and other receivables                                     54,356        41,884 
 
Cash and cash equivalents                                      246,808       357,875 
 
                                                             3,564,194     2,472,338 
 
Current liabilities 
 
Trade and other payables                                      (59,627)      (56,950) 
PAYE                                                          (10,638)      (10,283) 
Bounce-back Loan                                              (10,000)      (10,000) 
 
Total current liabilities                                     (80,265)      (77,233) 
 
Net current assets                                           3,483,929     2,395,105 
 
Bounce-back Loan -                                            (27,500)      (37,500) 
long-term 
 
Net assets                                                   3,456,429     2,357,605 
 
 
Equity 
 
Capital and reserves attributable to equity shareholders 
 
Share capital                                                  763,023       707,690 
Share premium                                                  328,413       181,247 
 
Reserve for own shares                                        (50,254)      (50,254) 
 
Retained profits/ (losses)                                   2,346,660     1,465,594 
 
Reserve for share based payments                                68,587        53,328 
 
                                                             3,456,429     2,357,605 
 
 
 
 
Cash Flow Statement (unaudited) 
 
6 months ended                                              31 October     31 October 
 
                                                                 20212           2021 
 
                                                                     £              £ 
 
Net cash from operating activities 
 
Loss/profit after tax                                        (179,502)      1,501,235 
 
Provision for share based payments                               6,275         10,619 
Reverse unrealised gains on investments                              -    (1,517,036) 
Reverse interest paid                                              507            310 
 
Operating cash flows before movements in working             (172,720)        (4,872) 
capital 
 
Movement in working capital 
 
(Increase)/decrease in receivables                            (10,580)          8,713 
 
Increase in payables                                            12,895          6,018 
 
Net movement in                                                  2,315         14,731 
working capital 
 
Operating cash flow                                          (170,405)          9,859 
 
Investment activities 
 
Expenditure on available for sale investments                        -       (42,462) 
 
Proceeds from sale of                                            8,750 
investments 
 
Cash flow from investing activities                              8,750       (42,462) 
 
Financing 
Share Capital                                                        -        160,000 
Bounce-back Loan repayments                                    (5,000)        (2,500) 
Interest paid                                                    (507)          (310) 
 
Net financing                                                  (5,507)        157,190 
 
Net (decrease)/ increase in cash and cash                    (167,162)        124,587 
equivalents 
 
Cash and cash equivalents at start of the period               413,970        233,287 
 
Cash and cash equivalents at end of the period                 246,808        357,874 
 
Increase in cash and cash equivalents                        (167,162)        124,587 
 
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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 02, 2022 07:00 ET (12:00 GMT)