BWA Group PLC Unaudited Financial Information Six Months End 31/10/16
February 02 2017 - 11:31AM
UK Regulatory
TIDMBWAP
2 February 2017
GB0033877555
BWA GROUP PLC
("BWA" or the "Company")
UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHSED 31 OCTOBER 2016
CHAIRMAN'S STATEMENT
Dear Shareholder
The Board of BWA Group plc is pleased to present the results for the half year
to 31 October 2016. The Company continues to seek a suitable investment or
investments which will be value enhancing for shareholders.
The results for the period comprise only the costs of administering the Company
for the six months, resulting in an operating loss of GBP23,019. The comparative
figures include income generated by the reimbursement of costs incurred in
relation to a previous potential acquisition.
The Board has held detailed discussions with three possible acquisitions in the
period under review but, in the end, each failed to progress to a proposition
we could recommend to shareholders.
The Board also continues to monitor the progress of the two major investments,
Prego International Limited and Mineralfields Group Limited, both of which
remain committed to moving to a listing or trade sale when possible.
Shareholders may be assured the Board is seeking every possible opportunity to
develop the Company.
Richard Battersby
Chairman
The Directors of BWA are responsible for the contents of this announcement.
For further information please contact:
BWA Group Plc
Richard Battersby (Non-Executive Chairman)
07836
238 172
Peterhouse Corporate Finance Limited
Mark Anwyl or Duncan
Vasey
020 7469 0930
INCOME STATEMENT
Six months ended
Notes 31 October 2016 Year ended
Unaudited 30 April 2016
GBP Audited
GBP
Turnover - 225,311
Cost of sales - (136,483)
------ ------
Gross profit - 88,828
Administrative expenses (23,019) (65,115)
------ ------
Operating (loss)/profit (23,019) 23,713
Interest receivable and 12 -
similar income
------ ------
(Loss)/profit on ordinary
activities before and (23,007) 23,713
after taxation and
retained for the period
[DEL:------:DEL] [DEL:------:DEL]
(Loss)/earnings per 2 0.02
ordinary share - basic (0.02)
(pence)
[DEL:------:DEL] [DEL:------:DEL]
(Loss)/earnings per
ordinary share -diluted 2
(pence) (0.02) 0.02
[DEL:------:DEL] [DEL:------:DEL]
All amounts relate to continuing activities.
STATEMENT OF OTHER COMPREHENSIVE INCOME
Six months Year ended
Notes ended 30 April 2016
31 October Audited
2016 GBP
Unaudited
GBP
(Loss)/profit for the (23,007) 23,713
period
Other comprehensive income
Unrealised (loss)/gain on
revaluation of investments 4
(222)
453
------ ------
Total comprehensive income (23,229) 24,166
for the period
[DEL:------: [DEL: - --- :DEL]
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BALANCE SHEET
Notes At 31 October At 30 April
2016 2016
Unaudited Audited
GBP
GBP
Fixed Assets
Available-for-sale 618,255 618,477
Investments
Current assets
Debtors and prepayments 7,375 20,125
Cash at bank and in 41,593 48,357
hand
------ ------
48,968 68,482
Creditors: amounts falling (105,216) (106,413)
due within one year
------ ------
Net current liabilities (56,248) (37,931)
------ ------
Total assets less current 562,007 580,546
liabilities
[DEL:------: [DEL:------:DEL]
DEL]
Capital and reserves
Called up share capital 3 560,788 560,788
Share premium 4 12,663 12,663
Capital redemption 4 288,625 288,625
reserve
Available-for-sale 4 617,865 618,087
revaluation reserve
Profit and loss account 4 (917,934) (899,617)
------ ------
Shareholders' funds 562,007 580,546
[DEL:------: [DEL:------:DEL]
DEL]
CASH FLOW STATEMENT
Six months Year ended
ended 30 April
31 October 2016
2016 Audited
Unaudited
GBP
GBP
Cash flows from operating (16,276) 43,258
activities
Cash flows from investing
activities
Sale of fixed asset investments 9,500 2,500
Interest received 12 -
------ ------
9,512 2,500
------ ------
(Decrease)/increase in cash and (6,764) 45,758
cash equivalents
Cash and cash equivalents at 48,357 2,599
beginning of year
------ ------
Cash and cash equivalents at end 41,593 48,357
of year
[DEL:------: [DEL:------:
DEL] DEL]
NOTES TO THE FINANCIAL INFORMATION
1. Status of these accounts
The interim accounts for the period from 1 May 2016 to 31 October 2016 are
unaudited. The financial information set out in this statement does not
constitute statutory accounts within the meaning of the Companies Act 2006.
2. Earnings per ordinary share
Basic and diluted earnings per share figures are based on the following
(losses) / profits and numbers of shares:
Six months
ended Year ended
31 October 30 April 2016
2016 Audited
Unaudited
GBP GBP
(Loss)/profit before tax (23,007) 23,713
[DEL:--- [DEL:
--:DEL] ---- --:
DEL]
Weighted average number of shares 112,157,725 112,157,725
for the purpose of basic earnings per
share
Effect of dilutive potential ordinary - -
shares:
Share options
------ ------
Weighted average number of shares 112,157,725 112,157,725
for the purpose of diluted earnings
per share
[DEL:--- [DEL:---
--:DEL] --:DEL]
3.Share capital
At At
31 October 30 April
2016 2016
Allotted, called up GBP GBP
and fully paid
Number: Class Nominal
value
112,157,725 Ordinary 0.5p 560,788 560,788
[DEL:--- [DEL:---
--:DEL] --:DEL]
4.Reserves
Capital AFS
Share redemption revaluation Profit and Total
premium reserve reserve loss
account
GBP GBP
GBP GBP GBP
At 1 May 2016 12,663 288,625 618,087 (899,617) 19,758
Revaluation of - - (222)
AFS investments - (222)
Share-based - - - 4,690 4,690
payment
Loss for the - - - (23,007) (23,007)
period
------ ------ ------ ------ ------
At 31 October 12,663 288,625 617,865 (917,934) 1,219
2016
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END
(END) Dow Jones Newswires
February 02, 2017 11:31 ET (16:31 GMT)