30th December 2016
Globe Capital Limited
("Globe Capital" or the
"Company")
Interim Results
for the nine months period to 30 September
2016
Chairman’s Statement
Globe Capital Limited is pleased to announce its unaudited
interim results for the 9 months period to 30 September 2016. Operational costs for the
period amounted to £105k compared to £85k for the 6 months to
June 2016 (6 months to June 2015 - £56k)
At the start of the year, the Company realigned its investment
focus towards the retail sector with an emphasis on menswear.
Following which, the Company made its maiden investment with a 25%
interest in Sterling Craig Ltd, a UK based online retailer for
men’s fashion.
In January 2016, the Company
raised £100k in new equity. The Directors continue to seek further
investment capital and hope to report on this in the near future.
Meanwhile, operational costs will be kept at a minimum until
additional funds are raised.
The Board continues to review potential acquisitions which is
reliant on new investment being achieved by virtue of equity or
loan capital.
The company continues to be supported by loans arranged by the
company’s directors.
Further announcements will be made in due course.
David Barnett
Chairman
30 December 2016
Globe Capital Limited
Statement of Comprehensive
Income
Nine months ended 30 September 2016
|
9
months ended
30 September
2016 |
6
months ended
30 June 2016 |
6
months
ended
30 June
2015 |
Year
ended
31 December
2015 |
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
GBP
'000 |
Revenue |
- |
- |
- |
- |
Other Income |
- |
- |
- |
- |
|
|
|
|
|
Gross
Profit |
- |
- |
- |
- |
|
|
|
|
|
Administrative
Expenses |
(105) |
(85) |
(56) |
(129) |
|
|
|
|
|
Profit / (Loss)
from Operations |
(105) |
(85) |
(56) |
(129) |
|
|
|
|
|
Finance Costs |
- |
- |
- |
- |
|
|
|
|
|
Profit / (Loss)
Before Taxation |
(105) |
(85) |
(56) |
(129) |
|
|
|
|
|
Taxation |
- |
- |
- |
- |
|
|
|
|
|
Other Comprehensive
Loss |
- |
- |
- |
- |
|
|
|
|
|
Profit / (Loss) for
the period |
(105) |
(85) |
(56) |
(129) |
|
|
|
|
|
Earning / (Loss)
per share |
|
|
|
|
Basic & Diluted
(pence) |
(0.12)p |
(0.10)p |
(0.08)p |
(0.17)p |
|
|
|
|
|
Globe Capital Limited
Balance Sheet as at 30 September 2016
|
30
September
2016 |
30
June
2016 |
30
June
2015 |
31
December
2015 |
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
GBP
'000 |
|
|
|
|
|
Non-current
assets |
|
|
|
|
Property, plant and
equipment |
- |
- |
17 |
6 |
Investments |
14 |
14 |
- |
- |
|
|
|
|
|
Current
assets |
|
|
|
|
Prepayments |
5 |
6 |
3 |
- |
Cash and cash
equivalents |
5 |
4 |
11 |
10 |
|
|
|
|
|
Total
Assets |
24 |
24 |
31 |
16 |
|
|
|
|
|
Current
Liabilities |
|
|
|
|
Trade and other
payables |
23 |
38 |
7 |
65 |
Financial Liabilities
- Borrowings |
- |
- |
- |
- |
|
|
|
|
|
Creditors: falling due after more
Than one year |
|
|
|
|
Loans |
35 |
- |
- |
- |
|
|
|
|
|
Total
Liabilities |
58 |
38 |
7 |
65 |
|
|
|
|
|
Net Assets |
(34) |
(14) |
24 |
(49) |
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
Share Capital |
639 |
639 |
627 |
627 |
Reserves |
(673) |
(653) |
(603) |
(676) |
|
|
|
|
|
Total
Equity |
(34) |
(14) |
24 |
(49) |
Globe Capital Limited
Statement of Cash Flows
Period ended 30 September 2016
|
9 months ended
30 September 2016 |
6 months ended
30 June 2016 |
6 months ended
30 June 2015 |
Year ended
31 December
2015 |
|
GBP
'000 |
GBP
'000 |
GBP
'000 |
GBP
'000 |
Profit/(Loss) before
tax |
(105) |
(85) |
(56) |
(129) |
Adjustment: |
|
|
|
|
Other income |
- |
- |
- |
- |
Depreciation |
6 |
6 |
11 |
22 |
Operating
profit/(loss) |
(99) |
(79) |
(44) |
(107) |
|
|
|
|
|
Cash flows from
operating activities |
|
|
|
|
(Increase)/decrease in
trade and other receivables |
(5) |
(6) |
(3) |
1 |
Increase/(decrease) in
trade and other payables |
(7) |
(27) |
(1) |
57 |
Share based
payments |
20 |
20 |
- |
- |
Cash utilised in
operations |
(91) |
(92) |
(48) |
(49) |
|
|
|
|
|
Cash flows from
investing activities |
|
|
|
|
Bank interest
received |
- |
- |
- |
- |
Purchase of
investments |
(14) |
(14) |
- |
- |
|
|
|
|
|
Net cash from
investing activities |
(14) |
(14) |
- |
- |
|
|
|
|
|
Cash flows from
financing activities |
|
|
|
|
Issue of new
shares |
100 |
100 |
- |
- |
|
|
|
|
|
Net cash from
financing activities |
100 |
100 |
- |
- |
|
|
|
|
|
(Decrease)/increase in
cash and cash equivalents |
(5) |
(6) |
(48) |
(49) |
Cash and cash
equivalents at the beginning of the period |
10 |
10 |
59 |
59 |
Cash and cash
equivalents at end of period |
5 |
4 |
11 |
10 |
|
|
|
|
|
Cash at Bank
C/F |
4 |
4 |
11 |
10 |
The financial information set out above has not been reviewed or
audited by the company's auditors.
Basic and diluted profit per share is calculated by dividing the
loss for the period of £105,000 (Jun
15: loss £56,000) by the weighted average number of ordinary
shares of 87,773,045 (Jun 15:
74,638,800).
The directors of Globe Capital Limited
accept responsibility for this announcement.
For further information:
Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388
CORPORATE ADVISER AND CONTACT DETAILS:
Alexander David Securities Limited
David Scott
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street EC4N
4SA