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Final Results

28th Sep 2012 07:00

RNS Number : 3961N
Shellproof Limited
28 September 2012
 

 

 

 

 

 

Shellproof Limited announces results for the year ended 31 March 2012

 

Belize City, Belize, 28 September 2012 - Shellproof Limited (London-AIM: SHLP) ("Shellproof" or the "Company") reported a net profit of ₤9,000 for the year ended 31 March 2012 (2011 - ₤104,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2012 amounted to 0.11 pence (2011 - 1.30 pence).

During the year ended 31 March 2012, the Company established a wholly-owned UK subsidiary company to carry out a trial production of sparkling wine in order to explore the potential of this business sector for investment. To date, approximately £250,000 has been incurred in this activity.

The Company continues its search for further investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellproof management team.

The Board notes that, as of the date of this announcement, the shares of Shellproof trade on AIM at an approximate 16% discount to the Company's net asset value.

The annual report of the Company is being sent to shareholders today.

Further details are set out on the Company's web site.

 

For further information contact:

 

Shellproof Limited

Belize +501 223 5989

UK +44 (0)20 7248 6700

 

Note: This and other press releases are available at the Company's web site: http://www.shellprooflimited.com. 

 

 

 

 Income statement

 

 

Year ended 31 March

2012

2011

UK₤000

UK₤000

Administrative expenses

(143)

(65)

Operating loss

(143)

(65)

Financial income

152

169

Profit before taxation

9

104

Taxation

-

-

Net profit for the year

9

104

Earnings per ordinary share

Basic and diluted (pence)

0.11

1.30

 

 

 

 

 

 

 Balance sheet

 

 

At 31 March

2012

2011

UK₤000

UK₤000

Assets

Non-current assets

Property, plant and equipment

68

-

Current assets

Cash and cash equivalents

4,123

4,257

Stocks

84

-

Other receivables

20

19

4,227

4,276

Liabilities

Current liabilities

Other payables

(24)

(14)

Net current assets

4,203

4,262

Net assets

4,271

4,262

Shareholders' equity

Called up share capital

4,000

4,000

Retained earnings

271

262

Total shareholders' equity

4,271

4,262

 

 

 

 

 

 Statement of cash flows

 

 

Year ended 31 March

2012

2011

UK₤000

UK₤000

Cash flows from operating activities

Cash used in operations

(210)

(68)

Financial income

152

169

Net cash (used in) generated from

operating activities

(58)

101

Cash flows from investing activities

Purchase of property, plant and equipment

(76)

-

Net cash used in investing activities

(76)

-

 

Net (decrease) increase in cash and

cash equivalents

(134)

101

Cash and cash equivalents

at beginning of year

4,257

4,156

Cash and cash equivalents at end of year

4,123

4,257

 

 

 

 

-ENDS-

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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