IHUK Impact Holdings

Press Release 3^rd August 2015

Impact Holdings (UK) plc
("Impact" or "The Group")

Preliminary results for the year ended 31^st March 2015

Impact Holdings (UK) plc (AIM: IHUK), the specialist lender, announces its preliminary results for the year ended 31^st March 2015.

Financial Highlights

• Group’s pre-tax profit of £252,669 (2014: profit £97,088)
• Earnings per share 10.0p (2014: 3.7p)
• Further reduced exposure to external debt providers
• Cash and cash equivalents of £1.6 million (2014: £0.7 million)
• Net assets of £5.84 million (2014: £5.58 million)

Commenting on the results Roger Barlow, non-executive Chairman said “These are pleasing results given the ongoing complex and long running litigation we are engaged in. We continue to de-risk the business and reduce our exposure to external debt providers. At the year end cash reserves had risen to £1.6m.”

For further information:

Impact Holdings (UK) plc.

Paul Davies Chief Executive Officer   Tel: +44 (0)1928 793 550
www.impactholdings.net

Zeus Capital

Nick Cowles/Andrew Jones              Tel +44 (0)161 831 1512

Tel: +44 (0) 161 831 1512

Notes to the Editor:

Impact Holdings (UK) plc through its individual subsidiaries provides financial outsourcing and ancillary services to the legal profession.

In addition Impact will fund other opportunities where debt instruments or debentures provide the primary security and there are opportunities for short term bespoke funding where serviceability precludes larger lenders from entering this area.

Impact is regulated by the Office of Fair Trading through which it is licensed to lend under the Consumer Credit Act 1974.

The financial information detailed below has been extracted from the Annual Report and Accounts for the year ended 31st March 2015, which are available from Zeus Capital, 82 King Street, Manchester, M2 4WQ and on the Company’s website (http://www.impactholdings.net/).

CHAIRMAN’S STATEMENT     

INTRODUCTION

We have previously advised that as a consequence of the ongoing credit crisis and new economic environment in which we operate, it has been necessary to seek out additional revenue streams for the group.

THE BOARD

The Board remains committed to adhering to strong Corporate Governance and operating within a framework of prudent controls which ensures the future risks of the business are controlled and managed.
 

STRATEGY

The development of the strategic direction of the business has continued in this financial year with a further reduction in our exposure to third party funders. This peaked at £10.0m in March 2010 and now stands at £1.2m as at 31 March 2015.

OUTLOOK

The group remains focused on providing services to the legal and business sectors. The Board of Directors is committed to the future growth opportunities earmarked and continues to develop this strategy which will provide the foundation for controlled growth, increased profitability over time and enhanced shareholder value.

The dedication and commitment of all staff to re-align the business is a credit as they have collectively worked with commitment and resilience to deliver this performance.

I should like to place on record my appreciation for the efforts of the executive, management and staff during the year. I also appreciate the enthusiasm and support of my fellow directors and thank them for their continued encouragement and counsel.

DIVIDEND

No dividend will be declared for the year.

Roger Barlow

Non-executive Chairman

CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 MARCH 2015

Other than as disclosed in the consolidated Income Statement and the Consolidated Statement of Changes in Equity there are no further gains or losses. Accordingly, no separate statement of Other Comprehensive Income has been presented.

All activities are considered to be continuing.

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2015

These financial statements were approved by the board on 31 July 2015.

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2015

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2015

Notes

1. The financial information set out in this announcement does not constitute the group’s financial statements (as defined by s434 of the Companies Act 2006) for the year ended 31st March 2015. The results for the year ended 31st March 2015 are extracted from the Annual Report of Impact Holdings (UK) plc, on which the auditors have issued an unqualified report which includes an emphasis of matter.
2. Pursuant to AIM Rule 20 copies of the Annual Report may be downloaded from the company’s web site www.impactholdings.netand will be posted to shareholders shortly. Further copies will be available from Zeus Capital, 82 King Street, Manchester, M2 4WQ.
3. The Annual General Meeting will be held at the Company’s registered office, 7500 Daresbury Park, Daresbury, Warrington WA4 4BS on 22^nd September 2015 at 8.45am.