We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| New Trend Lifestyle Group Plc | LSE:NTLG | London | Ordinary Share | GB00BMX66220 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.375 | 1.25 | 1.50 | 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
TIDMNTLG
RNS Number : 6283B
New Trend Lifestyle Group plc
24 September 2018
24 September 2018
Interim Results
New Trend Lifestyle Group Plc
("NTLG" or the "Company")
Unaudited Interim results for the six months ended 30 June 2018
New Trend Lifestyle Group Plc (AIM: NTLG), the Singapore-based Feng Shui products and services group, announces its unaudited interim results for the six months to 30 June 2018.
The Directors of the issuer accept responsibility for this announcement. This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016. For further information please contact: New Trend Lifestyle Group Plc +44 (0) 7830 182501 Gregory Collier, Non-Executive Chairman SPARK Advisory Partners Limited +44 (0) 20 3368 3551 (NOMAD) Mark Brady/Neil Baldwin SI Capital Limited (Broker) +44 (0) 1483 413500 Nick Emerson Or visit our Website: www.newtrendlifestylegroup.com
Chairman's Statement
Results for the period
Revenue in the period increased significantly against the corresponding period last year at SGD 2,543k (1H-2017: SGD 2,017k), as the sales and marketing initiatives implemented since the downturn have started to take effect. The trading conditions in Singapore remain challenging, however, the Board is hopeful that the improvement in sales seen in the first half will continue throughout the remainder of the year.
The total comprehensive loss of for the period was SGD1,060k (1H-2017: SGD1,106k loss). Overheads increased in the year as a result of increased headcount and commissions to support the sales growth. The Board continues to keep tight control of our costs, which are reviewed on an ongoing basis.
Cash at bank at the period end was lower than at the same date last year at SGD 659k (1H-2017: SGD1, 401k). The Board continue to try and manage our cash resources as best we can and continue, wherever possible to save cost, without compromising our ability to develop the business and increase revenue.
The Group disposed of Le Queenz Pte. Ltd (a wholly owned subsidiary of New Trend Lifestyle Pte. Ltd) in the period and is now focussed solely on its core activities of providing feng shui products and services.
Update on acquisition strategy
The Board continue with their efforts to source an acquisition as previously stated. To date, a suitable target has not been identified, however, the search is ongoing, and we will update shareholders with progress as and when appropriate.
Outlook
The Board continues to adopt a cautious view on the short-term outlook and are encouraged by the improved revenue in the first half against the same period in the prior year. It is difficult to ascertain whether this improvement will continue, however, the Board are hopeful that the full year results will be an improvement on the prior year, albeit still making a loss for the year.
Gregory Collier
Chairman
New Trend Lifestyle Group Plc
Consolidated Comprehensive Income Statement
For the period to 30 June 2018
Hot Features
Premium
Notes Six months Six months Year ended
to 30 June to 31 December
2018 Unaudited 30 June 2017
2017 Audited
Unaudited
SGD'000 SGD'000 SGD'000
Revenue 2,543 2,017 4,898
Cost of Sales (730) (554) (1,445)
------------ ------------ ------------
Gross Profit 1,813 1,463 3,453
------------ ------------ ------------
Administrative expenses (3,011) (2,864) (5,620)
Other income 246 355 867
------------ ------------ ------------
Operating Loss 4 (952) (1,046) (1,300)
Finance expense (109) (60) (259)
------------ ------------ ------------
Loss before tax (1,061) (1,106) (1,559)
Income tax charges - - -
------------ ------------ ------------
Loss for the year (1,061) (1,106) (1,559)
Other comprehensive income/(loss) - - -
for the period
------------ ------------ ------------
Total comprehensive loss for
the
Period (1,061) (1,106) (1,559)
Attributable to:
- Owners of the parent (1,061) (1,106) (1,559)
Loss per share
From continuing operations:-
Basic and diluted loss per
share 6 (0.008) (0.009) (0.012)
New Trend Lifestyle Group Plc
Consolidated Statement of Financial Position as at 30 June 2018
Notes As at As at As at
30 June 2018 30 June 31 December
Unaudited 2017 2017
Unaudited Audited
SGD'000 SGD'000 SGD'000
Assets
Non-current assets -
Property, plant and equipment 1,254 1,490 1,396
Investment property 1,931 1,987 1,959
Intangible assets 11 36 23
------------ ------------ ------------
3,196 3,513 3,378
------------ ------------ ------------
Current assets
Cash and cash equivalents 8 659 1,401 2,119
Trade and other receivables 929 559 501
Inventories 717 652 689
------------ ------------ ------------
2,305 2,612 3,309
------------ ------------ ------------
Total assets 5,501 6,125 6,687
Equity and liabilities
Capital and reserves
Issued capital 7 243 243 243
Share premium 2,221 2,221 2,221
Other reserves 303 306 303
Group reorganisation reserve 2,845 2,845 2,845
Currency translation reserve (61) (159) (61)
Accumulated surplus (7,698) (6,184) (6,637)
------------ ------------ ------------
Total equity (2,147) (729) (1,086)
------------ ------------ ------------
Non-current Liabilities
Restoration costs - - 48
Borrowings - - 2,753
------------ ------------ ------------
- - 2,801
------------ ------------ ------------
Current liabilities
Trade and other payables 4,889 3,743 3,570
Short term borrowings 2,759 3,111 1,357
Restoration costs - - 45
------------ ------------ ------------
7,648 6,854 4,972
------------ ------------ ------------
Total equity and liabilities 5,501 6,125 6,687
New Trend Lifestyle Group Plc
Consolidated Statement of Cash Flows
For the six months to 30 June 2018
6 Months 6 Months Year to
to to
30 June 2018 30 June 2017 31 Dec 2017
Notes Unaudited Unaudited Audited
SGD'000 SGD'000 SGD'000
Cash flows from operating
activities
Loss before income tax (1,061) (1,106) (1,559)
Adjustments for:
Depreciation and amortisation
expense 172 187 272
Loss on disposal of fixed - - -
assets
Interest expense 109 61 259
Foreign exchange differences - - 196
Movement in reserves - 100 -
Goods in Transit - 18 -
------------ ------------ ------------
(780) (740) (832)
Changes in working capital:-
Inventories (28) 31 (6)
Trade and other receivables (428) (213) (155)
Trade and other payables 1,598 1,432 946
------------ ------------ ------------
Cash consumed in operations 362 510 (47)
Income tax paid - - -
------------ ------------ ------------
Net cash consumed in
operating activities 362 510 (47)
------------ ------------ ------------
Cash flows from investing
activities
Purchase of plant and
equipment (26) (24) (24)
Proceeds from disposal
of PPE - - 59
------------ ------------ ------------
Net cash consumed in
investing activities (26) (24) 35
------------ ------------ ------------
Cash flows from financing
activities
(Repayment) of bank loans (1,687) (1,414) -
Interest paid (109) (61) (259)
Net proceeds from share - - -
issue
------------ ------------ ------------
Net cash from/(consumed
in) financing activities (1,796) (1,475) (259)
------------ ------------ ------------
Net change in cash and
cash equivalents (1,460) (989) (271)
Cash and cash equivalents
at beginning of year 2,119 2,390 2,390
------------ ------------ ------------
Cash and cash equivalents
at end of year 659 1,401 2,119
New Trend Lifestyle Group Plc
Consolidated statement of changes in equity
For six months to 30 June 2018
Share Share Other Group Currency Total
capital premium reserves reorganisation translation
Retained reserve reserve
Profits
SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000 SGD'000
Balance at 1
January
2017 243 2,221 (5,078) 305 2,845 (259) 277
------------ ------------ ------------ ------------ ------------ ------------ ------------
Loss for the
period - - (1,106) - - - (1,105)
Convertible - - - - - - -
loan
notes
Currency
translation - - - - - 99 99
------------ ------------ ------------ ------------ ------------ ------------ ------------
Balance at
30
June
2017 243 2,221 (6,184) 305 2,845 (159) (729)
------------ ------------ ------------ ------------ ------------ ------------ ------------
Loss for the
period - - (453) - - - (453)
Currency
translation - - - - - 98 98
Convertible
Loan
note - - - (2) - - (2)
Balance at
31
December
2017 243 2,221 (6,637) 303 2,845 (61) (1,086)
------------ ------------ ------------ ------------ ------------ ------------ ------------
Loss for the
period - - (1,061) - - - (1,061)
Balance at
30
June 2018 243 2,221 (7,698) 303 2,845 (61) (2,147)
New Trend Lifestyle Group Plc
Notes to the Interim Financial Information
1. General Information
New Trend Lifestyle Group Plc ("NTLG" or "Group") is a public limited company incorporated in England and Wales with company number 8000104 and is quoted on the AIM market of the London Stock Exchange Plc.
2. Basis of Preparation
This interim report, which incorporates the financial information of the Company, has been prepared using the historical cost convention, on a going concern basis and in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union, using accounting policies which are consistent with those set out in the financial statements for the year ended 31 December 2017.
Taxes
Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings.
Standards and Interpretations adopted with no material effect on financial statements
There are no IFRS or IFRIC interpretations that are effective for the first time in this financial period that would be expected to have a material impact on the Group.
There are no other IFRS or IFRIC interpretations that are not yet effective that would be expected to have material impact on the Group.
3. Segmental Analysis
Segmental reporting
In the opinion of the Directors the Group has one class of business, being the provider of Feng Shui products and services in Singapore and mainland China.
The Group's primary reporting format is determined by the geographical segment according to the location of its establishments. There are currently two geographic reporting segments: Singapore and China.
6 months to 30 June 2018
----------
Singapore China and Total
HK UK
Unaudited Unaudited Unaudited Unaudited
SGD'000 SGD'000 SGD'000 SGD'000
------------------------ ---------- ---------- ---------- ----------
Income Statement
Revenue 2,543 - - 2,543
Other income 246 - - 246
Direct and operating
costs (3,607) - (243) (3,850)
Group loss before tax (818) - (243) (1,061)
------------------------ ---------- ---------- ---------- ----------
Assets and Liabilities
Segment Assets 5,491 - 10 5,501
Segment Liabilities (7,331) - (317) (7,648)
(1,840) - (307) (2,147)
------------------------ ---------- ---------- ---------- ----------
6 months to 30 June 2017
---------------------------------- ----------
Singapore China and Total
HK UK
Unaudited Unaudited Unaudited Unaudited
SGD'000 SGD'000 SGD'000 SGD'000
------------------------ ---------- ---------- ---------- ----------
Income Statement
Revenue 2,017 - - 2,017
Other income 331 23 1 355
Direct and operating
costs (3,248) (10) (220) (3,478)
Group profit/(loss)
before tax (900) 13 (219) (1,106)
------------------------ ---------- ---------- ---------- ----------
Assets and Liabilities
Segment Assets 5,920 32 173 6,125
Segment Liabilities (6,554) (15) (285) (6,854)
------------------------ ---------- ---------- ----------
(634) 17 (112) (729)
------------------------ ---------- ---------- ---------- ----------
Year to 31 December 2017
-------------------------------- --------
Singapore China and Total
HK UK
Audited Audited Audited Audited
SGD'000 SGD'000 SGD'000 SGD'000
------------------------ ---------- ---------- -------- --------
Income Statement
Revenue 4,898 - - 4,898
Other income 866 - 1 867
Direct and operating
costs (6,947) - (377) (7,324)
Group profit/(loss)
before tax (1,183) - (376) (1,559)
------------------------ ---------- ---------- -------- --------
Assets and Liabilities
Segment Assets 6,657 - 30 6,687
Segment Liabilities (7,428) - (345) (7,773)
------------------------ ---------- ---------- -------- --------
(771) - (315) (1,086)
------------------------ ---------- ---------- -------- --------
4. Operating loss for the period is stated after charging
6 Months 6 Months Year to
to to 31 December
30 June 30 June 2017 2017
2018 Unaudited Audited
Unaudited
SGD'000 SGD'000 SGD'Õ000
Depreciation 172 187 272
5. DirectorsÕ emoluments
6 Months 6 Months Year to
to to 31 December
30 June 30 June 2017 2017
2018 Unaudited Audited
Unaudited
NTLG Total NTL
SGD'000 SGD'000 SGD'000
Hillary Phang Song Hua 283 329 617
Ajay Kumar Rajpal 44 64 121
Gregory Collier 14 13 15
Leung Chi Chiu 12 11 10
Leung Bo Ye Nancy - 9 10
6. Loss per share
6 Months 6 Months Year to
to to 31 December
30 June 2018 30 June 2017 2017
Unaudited Unaudited Audited
Loss per ordinary share
Ð SGD
Basic (0.008) (0.011) (0.012)
Diluted (0.008) (0.011) (0.012)
Earnings per share has been calculated on the net basis on the loss after tax of SGD1,061,000 (31 December 2017 Ð loss SGD1,559,000; 30 June 2017 - loss SGD1,106,000) using the weighted average number of ordinary shares in issue of 125,000,000 (31 December 2017 Ð 125,000,000; 30 June 2017 Ð 125,000,000)
The weighted average number of ordinary shares in issue if fully diluted is 125,000,000 (31 December 2017 Ð 125,000,000; 30 June 2017 Ð 125,000,000).
7. Called up Share Capital
The issued share capital as at 30 June 2018 was 125,000,000 Ordinary Shares of 0.1p each.
8. Cash and cash equivalents
As at As at As at
30 June 2018 30 June 31 December
Unaudited 2017 2017
Unaudited Audited
SGD'000 SGD'000 SGD'000
Cash and bank balance 659 1,401 2,119
Fixed deposits - - -
------------ ------------ ------------
Cash and bank balances
as presented in the
statement of financial
position 659 1,401 2,119
Less: Pledge fixed deposits - - -
------------ ------------ ------------
Cash and cash equivalents
as presented in the
statement of cash flow 659 1,401 2,119
9. Events subsequent to 30 June 2018
50,000,000 new ordinary shares of 0.1p each have been issued on 19 July 2018 to Zue Zuen Enterprise (ZZG) as part of a partial payment of debt owed to ZZG. The balance owing to ZZG after the issue will now be deferred by 18 months, at which time ZZG can either agree a payment plan with NTLSG or discuss the issue of further new ordinary shares.
10. The unaudited results for period ended 30 June 2018 do not constitute statutory accounts within the meaning of Section 435 of the Companies Act 2006. The comparative figures for the year ended 31 December 2017 for NTLG extracted from the audited financial statements which contained an unqualified audit report and did not contain statements under Sections 498 to 502 of the Companies Act 2006.
11. This interim financial statement will be, in accordance with the AIM Rules for Companies, available shortly on the Company's website at www.newtrendlifestylegroup.com.
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 BBGDCRGDBGIX
(END) Dow Jones Newswires
September 24, 2018 02:00 ET (06:00 GMT)
1 Year New Trend Lifestyle Chart |
1 Month New Trend Lifestyle 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
