30th Jan 2009 07:00
Note: This and other press releases are available at the Company’s web site: http://www.bbholdingslimited.com
BB Holdings Limited
Financial Information
Summarized Consolidated Statements of Income (unaudited)
US dollars in millions except per share data
|
3 months ended December 31, 2008 |
3 months ended December 31, 2007 |
9 months ended Deceember 31, 2008 |
9 months ended Deceember 31, 2007 |
|
|
Financial Services Interest income |
23.4 |
23.6 |
74.9 |
62.4 |
|
Interest expense |
(11.1) |
(8.8) |
(31.9) |
(23.4) |
|
Net interest income |
12.3 |
14.8 |
43.0 |
39.0 |
|
Provision for loan losses |
(1.6) |
(2.1) |
(6.0) |
(5.4) |
|
Net non-interest income (expense) |
1.0 |
(0.8) |
0.3 |
(1.0) |
|
Operating income - Financial Services |
11.7 |
11.9 |
37.3 |
32.6 |
|
Corporate expenses |
(1.9) |
(1.0) |
(4.5) |
(2.7) |
|
Total operating income |
9.8 |
10.9 |
32.8 |
29.9 |
|
Associates |
6.5 |
5.1 |
19.5 |
13.5 |
|
Interest income |
-- |
0.1 |
-- |
0.2 |
|
Net income |
16.3 |
16.1 |
52.3 |
43.6 |
|
Earnings per ordinary share: Basic and diluted: |
||||
|
Net income |
$0.28 |
$0.27 |
$0.88 |
$0.74 |
|
Number of shares - basic and diluted |
59.1m |
59.1m |
59.1m |
59.1m |
BB Holdings Limited
Financial Information
Summarized Consolidated Balance Sheets (unaudited)
|
December 31 2008 $m |
March 31 2008 $m |
|
|
Assets Financial Services assets |
||
|
Cash, cash equivalents and due from banks |
46.9 |
43.9 |
|
Interest-bearing deposits with correspondent banks |
61.4 |
127.1 |
|
Loans - net |
871.4 |
761.1 |
|
Property, plant and equipment - net |
16.7 |
17.0 |
|
Government of Belize Securities |
-- |
5.0 |
|
Other assets |
37.9 |
33.8 |
|
Total financial services assets |
1,034.3 |
987.9 |
|
Corporate Cash and cash equivalents |
0.2 |
0.2 |
|
Other current assets |
1.0 |
0.4 |
|
Property, plant and equipment - net |
0.1 |
0.1 |
|
Associates |
93.4 |
79.2 |
|
Total assets |
1,129.0 |
1,067.8 |
|
Liabilities and shareholders' equity Financial Services liabilities |
||
|
Deposits |
605.1 |
641.1 |
|
Short-term debt |
10.0 |
-- |
|
Interest Payable |
8.4 |
7.9 |
|
Other liabilities |
14.5 |
10.7 |
|
Long-term debt (2013/2014) |
144.3 |
114.3 |
|
Total Financial Services liabilities |
782.3 |
774.0 |
|
Corporate |
||
|
Current liabilities |
4.8 |
4.2 |
|
Long-term liabilities |
1.2 |
1.2 |
|
Total liabilities |
788.3 |
779.4 |
|
Total shareholders' equity |
340.7 |
288.4 |
|
Total liabilities and shareholders' equity |
1,129.0 |
1,067.8 |
BB Holdings Limited
Financial Information
Summarized Consolidated Statement of Cash Flows (unaudited)
|
9 months ended December 31 |
2008 $m |
2007 $m |
|||
|
Cash flows from operating activities |
|||||
|
Net income |
52.3 |
43.6 |
|||
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||
|
Depreciation |
1.1 |
0.9 |
|||
|
Provision for loan losses |
6.0 |
5.4 |
|||
|
Undistributed earnings of associates |
(14.2) |
(9.9) |
|||
|
Increase in interest payable |
0.5 |
1.2 |
|||
|
Changes in assets and liabilities - net |
(0.3) |
(0.8) |
|||
|
Net cash provided by operating activities |
45.4 |
40.4 |
|||
|
Cash flows from investing activities |
|||||
|
Purchase of property plant and equipment (net of disposals) |
(0.8) |
(2.6) |
|||
|
Decrease (increase) in interest-bearing deposits |
65.7 |
(25.0) |
|||
|
Decrease in Government securities |
5.0 |
-- |
|||
|
Increase in loans to customers |
(116.3) |
(213.3) |
|||
|
Net cash utilized by investing activities |
(46.4) |
(240.9) |
|||
|
Cash flows from financing activities |
|||||
|
Increase (decrease) in short-tem debt |
10.0 |
(1.5) |
|||
|
(Decrease) increase in deposits |
(36.0) |
101.3 |
|||
|
Increase in long-term debt |
30.0 |
100.5 |
|||
|
Net cash provided by financing activities |
4.0 |
200.3 |
|||
|
Net change in cash, cash equivalents and due from banks |
3.0 |
(0.2) |
|||
|
Cash, cash equivalents and due from banks at beginning of year |
44.1 |
46.4 |
|||
|
Cash, cash equivalents and due from banks at end of year |
47.1 |
46.2 |
|||
Related Shares:
CIHL.L