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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mortice Limited | LSE:MORT | London | Ordinary Share | SG9999005326 | 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% | 14.00 | 13.00 | 15.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Mar 2020 to Mar 2025
TIDMMORT
RNS Number : 4881L
Mortice Limited
27 December 2018
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)
Mortice Limited
("Mortice", the "Group" or the "Company")
Results for the Half Year ended 30 September 2018
Mortice Limited (AIM: MORT), the AIM listed security and facilities management company, announces its unaudited results for the half year ended 30 September 2018.
Financial results highlights:
-- Revenues from operations grew by 9.75% to $116.7 m (HY 2017: $106.3m)
o Man Guarding business increased by 14.11% to $63.9m (HY 2017: $56.0m)
-- Contributing 55% of group revenues
o Facilities Management business revenue grew 4.85% to $52.5m (HY 2017: $50.0m)
-- Contributing 45% of group revenues
o 19.13% ($12.6m) growth from Indian Operations
o 5.54% ($2.2m) decline in growth from Tenon FM UK
-- Tenon FM UK- Revenue $33.2m (HY 2017: $35.4m)
-- Frontline - Revenue $5m (HY 2017: $5m)
o Revenue MIX current year first half
-- India - 67.3%
-- UK - 28.4%
-- Singapore - 4.3%
-- Adjusted EBITDA* has grown by 8.57% to $5.18m (HY 2017: $4.8m) -- Adjusted profit before taxation* grown by 4.47% to $2.3m (HY 2017: $2.2m) -- Net debt of $20.1m (FY 2018: $18.4m) increased for working capital growth.
*EBITDA and PBT have been adjusted for the currency translation gain or loss and loss from financial liability, loss of $0.70 million for currency translation in first half of CY 2018-19 (HY 2017: $0.04 m loss),
Operational highlights:
-- Acquired the remaining 49% of Frontline Security Pte ltd in May,2018 at 3.5 million SGD, payable in four trenches until 30 June,2019, to date 3.0 million SGD has been paid
-- During H1- more than 150 new clients have been added across the geographies, some of the clients are as:
Delhi Integrated Multi-Model Transit System Ltd.(DIMTS), Amazon Development Center India Pvt Ltd, Hsbc Electronic Data Processing India Pvt Ltd, Odisha Power Generation Corporation Limited, BMW India , GE Aviation Engine Services, Knight Frank Property Asset Management Pte Ltd, Global Maritime and Port Services Pte Ltd , Yongnam Engineering and Construction (Pte) Ltd, Marinte knik Shipbuilders (S) Pte Ltd, MCSL Management Pte Ltd., London Academy of Music and Dramatic art
Post Period End:
-- Share buyback of 1,094,400 ordinary shares was completed from the UK vendor of Office & General Group Limited
-- Frontline Security Pte Ltd has been renamed as Peregrine Security Pte Ltd.
Major Manjit Rajain, Executive Chairman of Mortice Limited, said:
"The Company has demonstrated once again its ability to integrate the businesses and drive the growth across different geographies and business segments. The Group is investing heavily on technology for on boarding new clients and improving the processes to drive internal efficiency and productivity as well as scale up Mortice's businesses."
Mortice Limited www.morticegroup.com Manjit Rajain, Executive Chairman Tel: +91 981 800 0011 finnCap Ltd Tel: 020 7220 0500 Carl Holmes/ Giles Rolls (Corporate Finance)
About Mortice Limited
Mortice (AIM: MORT), is an AIM listed security and facilities management company, incorporated in Singapore and based in India with additional operations in Singapore and the UK.
Mortice operates under two brands, in India:
-- Peregrine - provision of guarding and security services to a wide range of clients from blue-chip companies, smaller businesses, commercial and private properties, and individuals.
-- Tenon - provision of a full range of facilities management services to corporate occupiers, owners and developers of real estate. Clients include some of the world's most respected blue chip and home-grown companies. Within the Tenon group, Mortice also offers security surveillance services through its subsidiary Soteria and mechanical and engineering services via Rotopower
The business is growing and profitable and is focused on expanding its geographical footprint and growing through targeted acquisitions, as well as organically.
In 2015 the Company established Tenon UK and through this wholly owned subsidiary, acquired UK based Office & General Group Limited (O&G"), an independent property service company specialising in cleaning and providing support services such as environmental solutions and built fabric maintenance in the UK. In addition, the Company acquired a 51% majority stake in Singapore-based security company Peregrine Security Pte Ltd (Formerly known as Frontline Security Pte. Ltd), and in 2018 the company acquired remaining 49% stake of Peregrine Security Pte Ltd (formerly known as Frontline Security Pte. Ltd).
The unaudited interim financial statements will be available on the Company's website: www.morticegroup.com.
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Unaudited condensed consolidated statement of financial position
(All amounts in United States Dollars, unless otherwise stated) As at As at As at
-------------------------
30 September 2018 30 September 31 March
2017
(Unaudited) (Unaudited) 2018
(Audited)
------------------------- ------------------- -------------- ----------------------
Assets
Non-current
Goodwill 10,458,434 10,608,622 11,179,407
Other intangible assets 8,101,003 9,207,201 9,557,385
Property, plant and
equipment 3,912,812 4,304,131 3,720,191
Long-term financial
assets 867,420 1,464,711 1,524,252
Deferred tax assets 2,467,281 2,581,304 2,579,392
Other non-current assets 3,965,035 3,869,216 4,898,034
------------------------- ------------------- -------------- ----------------------
Non-current assets 29,771,985 32,035,185 33,458,661
------------------------- ------------------- -------------- ----------------------
Current Assets
Inventories 696,516 675,330 698,381
Trade and other
receivables 53,798,181 50,057,891 51,380,040
Cash and cash
equivalents 2,606,841 3,159,591 4,192,791
Current assets 57,101,538 53,892,812 56,271,212
------------------------- ------------------- -------------- ----------------------
Total assets 86,873,523 85,927,997 89,729,873
========================= =================== ============== ======================
Equity and liabilities
Equity
Share capital 12,915,135 17,358,536 12,915,135
Reserves 5,945,788 4,396,503 6,042,972
------------------------- ------------------- -------------- ----------------------
18,860,923 21,755,039 18,958,107
Non-controlling
interests 57,472 3,211,024 3,265,468
------------------------- ------------------- -------------- ----------------------
Total equity 18,918,395 24,966,063 22,223,575
========================= =================== ============== ======================
Liabilities
Non-current
Employee benefit
obligations 2,456,942 1,883,625 2,138,105
Deferred tax liability 1,574,875 1,173,312 1,720,117
Borrowings 6,425,037 4,422,899 7,460,800
Non-current liabilities 10,456,854 7,479,836 11,319,022
------------------------- ------------------- -------------- ----------------------
Current
Trade and other payables 39,662,294 36,900,039 39,946,303
Employee benefit
obligations 881,491 694,183 1,086,284
Borrowings 16,954,489 15,887,876 15,154,689
Current liabilities 57,498,274 53,482,098 56,187,276
------------------------- ------------------- -------------- ----------------------
Total liabilities 67,955,128 60,961,934 67,506,298
Total equity and
liabilities 86,873,523 85,927,997 89,729,873
========================= =================== ============== ======================
The annexed notes form an integral part of and should be read in conjunction
with these condensed financial statements.
Unaudited condensed consolidated statement of profit or loss and other comprehensive income
(All amounts in United States Dollars, unless otherwise stated)
Six months ended Six months
ended
30 September 2018 30 September
2017
(Unaudited) (Unaudited)
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Income
Service revenue 116,682,016 106,315,772
Other income 255,600 822,231
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Total income 116,937,616 107,138,003
Expenses
Staff and related costs 98,803,785 92,137,446
Materials consumed 7,350,234 4,629,749
Other operating expenses 6,308,464 5,272,426
Depreciation and amortization 1,485,309 1,468,162
Loss from financial liabilities
measured at fair value through
profit or loss - 283,881
Finance costs 1,427,411 1,132,477
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Total expenses 115,375,203 104,924,141
Profit before taxation 1,562,413 2,213,862
Tax expense 406,261 898,200
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Profit for the period 1,156,152 1,315,662
Other comprehensive income:
Items that will be reclassified
subsequently to profit or loss
Exchange difference on translating
foreign operations (1,918,120) 472,644
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Total comprehensive income for
the year net of tax (761,968) 1,788,306
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Profit for the period attributable
to:
- Owners of the parent 1,018,331 1,025,376
- Non-controlling interest 137,821 290,286
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
1,156,152 1,315,662
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Total comprehensive income
attributable
to:
- Owners of the parent (899,789) 1,283,838
- Non-controlling interest 137,821 504,468
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
(761,968) 1,788,306
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
Earnings per share: Basic and
diluted 0.02 0.02
------------------------------------ ---------------------------------------------------- ----------------------------------------------------
The annexed notes form an integral part of and should be read in conjunction with these condensed financial statements.
Unaudited condensed consolidated statement of changes in equity
(All amounts in United States Dollars, unless otherwise stated)
Equity Exchange Retained earnings Total attributable to owners of Non-controlling Total equity
Capital translation the parent interest
reserve Other equity
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
Balance as at 1
April 2018 12,915,135 (3,175,046) 9,218,018 - 18,958,107 3,265,468 22,223,575
Transaction with
owners:
Buy back of
non-controlling
interest* - - - 802,605 802,605 (3,345,817) (2,543,212)
Profit for the
period - - 1,018,331 - 1,018,331 137,821 1,156,152
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
Other
comprehensive
income:
-Exchange
differences on
translating
foreign
operations - (1,918,120) - - (1,918,120) - (1,918,120)
Total
comprehensive
income for the
period - (1,918,120) 1,018,331 - (899,789) 137,821 (761,969)
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
Balance as at
30 September
2018 12,915,135 (5,093,166) 10,236,349 802,605 18,860,923 57,472 18,918,392
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
Balance as at 1
April 2017 15,740,501 (3,478,417) 7,303,698 - 19,565,782 2,706,557 22,272,339
Issue of share
capital 1,618,035 1,618,035 1,618,035
Dividend paid (712,618) (712,618) (712,618)
Profit for the
period - - 1,025,376 1,025,376 290,285 1,315,662
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
Other
comprehensive
income:
-Exchange
differences on
translating
foreign
operations - 258,462 - - 258,462 214,182 472,644
----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ --------------- Total comprehensive income for the period - 258,462 1,025,376 - 1,283,838 504,468 1,788,305 ----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ --------------- Balance as at 30 September 2017 17,358,536 (3,219,955) 7,616,456 - 21,755,037 3,211,024 24,966,062 ----------------- -------------- --------------- ---------------------------------- --------------- ---------------------------------- ------------------------ ---------------
*The Group on 28 June 2018, through its wholly-owned subsidiary, Tenon Facility Management Singapore Pte. Limited ("Tenon Singapore"), acquired the remaining 49% of the issued and paid-up capital of its Singapore-based subsidiary Frontline Security PTE LTD ("Frontline Security") from minority shareholder, for a consideration of SGD 3.5 million.
Unaudited condensed consolidated statements of cash flows
(All amounts in United States Dollars, unless otherwise stated)
Six months Six months
ended ended
30 September 30 September
2018 2017
(Unaudited) (Unaudited)
------------------------------------------------ --------------------- ---------------------
(A) Cash flow from operating activities
Profit before taxation 1,562,413 2,213,862
Adjustments for:
Depreciation and amortization 1,485,309 1,468,162
Finance cost 1,427,411 1,132,477
Finance income (125,431) (216,518)
Loss on sale of property plant and equipment 16,249 -
Loss from financial liabilities measured
at fair value through profit or loss - 283,881
Impairment of trade receivables 379,068 193,102
Other adjustments - 4,497
--------------------- ---------------------
Operating profit before working capital
changes (Current and non- current) 4,745,019 5,079,463
Increase in inventories (36,474) (165,460)
Increase in trade and other receivables (9,250,587) (5,761,040)
Increase in trade and other payables 5,701,620 3,950,851
------------------------------------------------ --------------------- ---------------------
Cash generated from operations 1,159,578 3,103,814
Income tax paid (1,070,465) (1,122,530)
Net cash generated from operating activities 89,113 1,981,284
------------------------------------------------ --------------------- ---------------------
(B) Cash flow from investing activities
Acquisition of plant, property and equipment (753,998) (633,055)
Purchase consideration paid on business
acquisition - (4,979,899)
Purchase consideration for acquisition of
NCI (2,543,212) -
Acquisition of other intangible assets 26,074 -
Proceeds from sale of plant, property and
equipment 86,946 25,112
Interest received 366,440 521,557
------------------------------------------------ --------------------- ---------------------
Net cash used in investing activities (2,817,750) (5,066,245)
------------------------------------------------ --------------------- ---------------------
(C) Cash flows from financing activities
Dividend paid - (712,618)
Withdrawal of fixed deposit 560,820 -
Repayment of finance lease obligation 18,651 (520,864)
Proceeds from long term borrowings 80,000 -
Repayment of long term borrowings (554,748)
Movement in short term borrowings (net) 2,654,604 3,669,590
Interest expenses (1,710,888) (1,662,228)
Net cash generated from financing activities 1,048,439 773,880
------------------------------------------------ --------------------- ---------------------
Net increase/ (decrease) in cash and cash
equivalents (1,680,198) (2,311,080)
Cash and cash equivalents at the beginning
of the period 4,192,791 3,539,846
Cash on account of business acquisition - 1,914,977
Effect of change in exchange rate on cash
and cash equivalents 94,248 15,849
------------------------------------------------ --------------------- ---------------------
Cash and cash equivalents at the end of
the period 2,606,841 3,159,591
------------------------------------------------ --------------------- ---------------------
Notes to unaudited condensed consolidated interim financial statements
1. Introduction
Mortice Limited ('the Company' or 'Mortice') was incorporated on 9 January 2008 as a public limited Company in the Republic of Singapore. The Company's registered office is situated at 36 Robinson Road, #17-01 City House, Singapore 068877.
The Company was listed on the Alternative Investment Market (AIM) of the London Stock Exchange on 15 May 2008. The Company together with its subsidiaries (hereinafter, together referred to as 'the Group') is engaged in providing services such as guarding services, facilities management services, mechanical and engineering maintenance services, installation of safety equipment and sale of such equipment. The Group's operations are spread across India, UK and Singapore. The various entities comprising the Group have been defined below.
Name of subsidiaries Country of Effective
incorporation group shareholding
(%)
Held by Mortice Limited
Tenon Facility Management India Private
Limited India 99.48
Tenon Facility Management Singapore Pte
Limited Singapore 100
Held by Tenon Facility Management India
Private Limited
Tenon Facility Management UK Limited United Kingdom 100
Tenon Support Services Private Limited
('Tenon Support') India 100
Tenon Project Services Private Limited
('Tenon Project') India 100
Roto Power Projects Private Limited ('Roto') India 99.95
Soteria Command Centre Private Limited
('Soteria') India 100
Held by Tenon Facility Management UK Limited
Office and General Group Limited (O&G) United Kingdom 100
Elite Cleaning & Environmental services
Limited United Kingdom 100
Held by Office and General Group Limited
(O&G)
Tenon Facility Management Limited United Kingdom 100
Held by Tenon Facility Management Singapore
Pte Limited
Frontline Securities Pte Limited* Singapore 100
*increase in group shareholding in Frontline Securities Pte Limited during the period from 51% to 100%.
These unaudited condensed consolidated financial statements were approved by the Board on 26(th) Dec,2018.
The immediate and ultimate holding company is Mancom Singapore PTE ltd, a company incorporated in Singapore. (In the previous year Mancom Holding Limited was the Ultimate holding company)
2. Basis of preparation
These condensed consolidated interim financial statements for the six months period ended 30 September 2018 have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union (EU), on a going concern basis. They do not include all of the information required in annual financial statements in accordance with IFRS, and should be read in conjunction with the consolidated financial statements of the Group for the year ended 31 March 2018.
Notes to unaudited condensed consolidated interim financial statements (contd.)
The functional currency of the entities within the Group (other than the subsidiaries in Singapore & United Kingdom) is Indian Rupees ('INR'). The functional currency of subsidiary in Singapore is SGD & in United Kingdom is GBP. The Company has a functional currency of United States Dollars ('US$'). The group's management has chosen to present the consolidated financial statement in US$, the functional currency of the Company.
All inter-company transactions and balances are eliminated on consolidation and the unaudited condensed consolidated interim financial statements reflect external transactions only. The accounting periods of the subsidiaries are coterminous with that of the Company.
3. Significant accounting policies
The interim financial statements have been prepared in accordance with the accounting policies adopted in the Group's most recent annual financial statements for the year ended 31 March 2018.
4. Estimates
When preparing the interim financial statements, management undertakes a number of judgments, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgments, estimates and assumptions made by management, and will seldom equal the estimated results.
The judgments, estimates and assumptions applied in the interim financial statements, including the key sources of estimation uncertainty were the same as those applied in the Group's most recent annual financial statements for the year ended 31 March 2018.
5. Segment reporting
The Group has reported segment results based on internal management reporting information that is regularly reviewed by the Group's Chief Executive Officer and Chairman. Chief Executive Officer and Chairman have concluded that the operating segment disclosure should be based on service offered by Group.
The reportable segments identified by the group are: guarding services and facility management services.
The revenue and profit generated by each of Group's business segments are summarized as follows:
1 April 2018 to 30 September 2018
-------------------------------------------------------------------------------
Guarding Facility Others Total
Management
-------------------------- ----------- ------------ ---------- ------------
Revenue
From external customers 63,876,862 52,522,713 282,441 116,682,016
Segment operating profit 1,940,302 1,065,458 (26,947) 2,978,813
Total Segment assets 34,412,057 19,587,808 1,466,426 55,466,291
Segment liabilities 27,476,253 25,083,809 1,357,174 53,917,236
-------------------------- ----------- ------------ ---------- ------------
1 April 2017 to 30 September 2017
-------------------------------------------------------------------------------
Guarding Facility Others Total
Management
-------------------------- ----------- ------------ ---------- ------------
Revenue
From external customers 55,980,052 50,092,089 243,631 106,315,772
Segment operating profit 2,156,117 431,030 (107,950) 2,479,197
Total Segment assets 35,072,909 26,149,516 857,527 62,079,952
Segment liabilities 27,585,422 22,999,939 2,103,240 52,688,601
-------------------------- ----------- ------------ ---------- ------------
The totals presented for the Group's operating segments reconciliation to the Group's key financial figures presented in its condensed consolidated financial statements are as follows:
September 2018 September 2017
Segment assets 55,466,291 62,079,952
Reconciling items:
Other assets unallocated 31,407,232 23,848,045
------------------------------- ----------- -----------
Total assets 86,873,523 85,927,997
------------------------------- ----------- -----------
Segment liabilities 53,917,236 52,688,601
Reconciling items:
Other liabilities unallocated 14,037,892 8,273,333
------------------------------- ----------- -----------
Total liabilities 67,955,128 60,961,934
------------------------------- ----------- -----------
Six months ended Six months ended
30 September 30 September
2018 2017
------------------------------------ ------------------------------- ----------------------------
Segment operating profit before tax 2,978,814 2,479,197
Reconciling items:
Other income not allocated 255,600 538,350
Other expense not allocated (1,672,001) (803,684)
Profit before tax 1,562,413 2,213,862
------------------------------------ ------------------------------- ----------------------------
6. Property, plant and equipment - The acquisitions of property, plant and equipment, for the six months ended 30 September 2018 are US$ 1,235,066 (six months ended 30 September 2017: US$ 633,055 and for the twelve months ended 31 March 2018 are US$ 1,454,045 excluding property, plant and equipment acquired under business combination).
7. Earnings per share
Both basic and diluted earnings per share have been calculated using the profit or loss attributable to shareholders of Mortice Limited as the numerator. Calculation of basic and diluted profit per share is as follows:
Six months Six months
ended ended 30 September
30 September 2017
2018
-------------------------------------------- -------------- --------------------
Earnings attributable to equity
holders (US$) 1,018,331 1,025,376
Weighted average number
of ordinary shares outstanding
for basic & diluted earnings
per share 53,417,440 55,060,401
-------------------------------------------- -------------- --------------------
Basic and diluted earnings per share
(US$) 0.02 0.02
-------------------------------------------- -------------- ----------------------
-*rounded off to two decimal places.
8. Related party transactions
A. Related party relationship
Disclosure of Related parties and relationship between the parties:
Ultimate Holding Company Mancom Singapore PTE Limited
Entities on which KMP exercise significant Micro Azure Computers Private
influence: Limited
(where transaction occurred)
Key Management Personnel (KMPs) Manjit Rajain
Rajan Oberoi
Relative of Key Management Personnel Angad Rajain, Anuj Rajain
Significant related party transactions, other than those disclosed elsewhere in the financial statements, are as follows
Transaction with key management: September
Particulars 2018 2017
US$ US$
Remuneration
Short-term benefits 415,243 392,708
Post - employment benefits 11,579 21,040
============================ ======== ========
The outstanding balances payable to related parties under the category of key management as at 30 September 2018 and 30 September 2017 are US$ 176,510 and US$ 5,508 respectively.
2018 2017
The Group US$ US$
Key management personnel and their relatives
Office rental paid to key management personnel 153,689 132,101
Deposits given to key management personnel 267,431 64,264
Office rental paid to Relatives of Managerial 40,910 -
Personnel
Entities over which key management are able
to exercise control:
Deposits given to related party 282,961 18,262
Operating expenses paid on behalf of related - -
party
Recovery of advances from related party 128,259 5,709
Office rental paid to related party 149,759 18,641
Commission paid to related party - 17,865
9 Financial instruments
(Financials assets and liabilities measured at amortised cost)
Fair values
The carrying amount of financial assets and liabilities with a maturity of less than one year is assumed to approximate their fair values.
However, the Group and the Company do not anticipate that the carrying amounts recorded at financial position date would be significantly different from the values that would eventually be received or settled.
The carrying amounts of assets and liabilities presented in the statement of financial position relate to the following categories of assets and liabilities:
September
2018 2017
US$ US$
Non-current assets
Loans and receivables
Restricted cash 867,420 1,464,711
Current assets
Loans and receivables
Trade and other receivables 52,953,120 37,802,309
Cash and cash equivalents 2,606,841 3,159,591
---------------------------------------------- ----------- -----------
Total financial assets 56,427,380 42,426,611
============================================== =========== ===========
Non-current Liabilities
Finance lease obligations, excluding
current portion 518,131 348,839
Long-term borrowings, excluding current
portion 5,906,906 4,074,060
Current liabilities
Trade payables and other payables 29,356,126 28,720,236
Bank overdraft 10,210,033 5,766,607
Current portion of finance lease obligations 679,563 508,729
Current portion of long term borrowing 6,064,893 9,612,540
---------------------------------------------- ----------- -----------
Total financial liabilities 52,735,652 49,031,011
============================================== =========== ===========
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.
END
IR UNRBRWRAUUAA
(END) Dow Jones Newswires
December 27, 2018 02:01 ET (07:01 GMT)
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