Preliminary Results
August 18 2006 - 2:01AM
UK Regulatory
RNS Number:8010H
Bolton Group (International) Ld
18 August 2006
Bolton Group (International) Limited
18 August 2006
Preliminary Results
The Board of Bolton Group (International) Limited ('Group') real estate holding
and development group, announces its preliminary unaudited results for the year
ended 30 April 2006.
Chairman's Statement
During the course of this year, the Board has been exploring a new strategic
move into emerging markets, considering investment and development projects with
an emphasis on Russia and its neighbours.
The Board anticipates there will be further announcements shortly to keep
shareholders informed as to the specifics of the company's progress in this
area.
The Company is pleased to announce that after the year end, it has negotiated a
settlement with regard to the outstanding debt to Richards Butler, Hong Kong for
2.5 million company shares.
Michael Goletka
Chairman
Consolidated profit and loss account
Year Ended 30 April 2006
NOTES
Year ended Year ended
30 April 2006 30 April 2005
(Unaudited) (Audited)
#000 #000
Turnover 174 468
Administrative expenses (327) (662)
_____________ _____________
Operating profit / (loss) (153) (194)
Interest payable (53) (272)
_____________ _____________
(Loss)/profit on ordinary activities
before taxation (206) (466)
Tax on (loss)/profit on ordinary
activities - -
_____________ _____________
(Loss)/profit on ordinary activities
after taxation (206) (466)
Exceptional item 5 576 -
_____________ _____________
Retained (loss) / profit for the year 370 (466)
_____________ _____________
(Loss)/earnings per share 0.43p (0.61)p
Diluted (loss)/earnings per share 0.43p (0.61)p
______________________________________________________________________________________
All transactions arose from discontinued operations during the current year.
Consolidated balance sheet
at 30 April 2006
Year ended Year ended
30 April 2006 30 April 2005
#000 #000
Fixed assets
Tangible assets - 3,534
_____________ _____________
Current assets
Debtors 250 16
Cash at bank and in hand - 38
_____________ _____________
250 54
Creditors: amounts falling due within one year (637) (1,638)
_____________ _____________
Net current liabilities (387) (1,584)
_____________ _____________
Total assets less current liabilities (387) 1,950
Creditors: amounts falling due after more
than one year 7 - (2,707)
_____________ _____________
Net (liabilities) / assets (387) (757)
_____________ _____________
Capital and reserves
Called up share capital 861 861
Share premium account 1,645 1,645
Revaluation reserve - (463)
Other reserves - 5,725
Profit and loss account (2,893) (8,525)
_____________ _____________
Shareholders' funds - equity (387) (757)
_____________ _____________
Consolidated Cash Flow Statement
for the year ended 30 April 2006
Note
Year ended Year ended
30 April 30 April 2005
2006
#000 #000
Net cash (outflow) / inflow from
operating activities 133 (592)
_____________ _____________
Exceptional items - -
_____________ _____________
Returns on investments and servicing of finance
Interest received - -
Interest paid (53) (272)
_____________ _____________
Net cash (outflow) from returns on
investments and servicing of finance (53) (272)
Acquisitions and disposals
Sale of shares in subsidiaries 250 -
Elimination of bank balance on disposal (30) -
_____________ _____________
Net cash (outflow) / inflow from
acquisitions and disposals 220 -
_____________ _____________
Net cash (outflow) / inflow before
financing 300 (864)
_____________ _____________
Financing
Repayment of borrowings (86) (2,517)
New short term loans - 3,102
Issue of common shares - 302
Amount owed on disposal of subsidiary (250) -
_____________ _____________
Net cash inflow / (outflow) from financing (336) 887
_____________ _____________
(Decrease) / increase in cash (36) 23
_____________ _____________
Preliminary Results
1. The preliminary results report has been prepared using accounting policies
consistent with those set out in the statutory accounts of the group for
the year ended 30 April 2006.
2. The financial information for the year to 30 April 2006 is unaudited and
does not constitute statutory accounts within the meaning of Section 240 of
the Companies Act 1985. The figures relating to the year ended 30 April
2005 are an extract from statutory accounts within the meaning of Section
240 of the Companies Act 1985 which have been delivered to the Registrar of
Companies and on which the auditors gave an unqualified audit report.
3. The calculation of the (loss)/earnings per share and diluted (loss)/
earnings per share are based on the following (losses)/profits after
taxation and weighted average numbers of shares:
Year ended 30 April Year ended 30 April
2006 2005
#'000 #'000
Earnings/(loss) per share
Profit/(loss) after tax (#'000) 370 (466)
Number of shares 86,138,238 86,138,238
Diluted earnings/(loss) per share
(Loss)/profit after tax (#'000) 370 (466)
Number of shares 86,138,238 86,138,238
4. Copies of this interim report will be available to the shareholders and the
public from the group's registered office.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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