Eight Capital Partners PLC - London-based corporate finance advisory - restates results for the year to December 31, 2021 to reclassify the accounting treatment of its 1AF2 Ltd bonds 21-24 fixed rate bonds. Reports revenue of GBP444,000, a pretax loss of GBP11.5 million and loss per share of GBP0.78. No comparisons were given. Restatement includes correction to cash flow statement relating to the issue and redemption of loan liabilities, where the transactions were non-cash exchanges of bonds. The consolidated and company cash flow statements reported an investing cash outflow of GBP33.6 million and financing cash inflows of GBP20.0 million and GBP13.2 million. These non-cash transactions should have been excluded from cash inflows and outflows presented in the statements of cash flows, firm said.
Further, reports results to December 31, 2022. Reports revenue more than doubled to GBP895,000 from GBP444,000 the year before, with an improved gross margin of over 98%, up from 70%. Highlights the net movement in fair value of both realised and unrealised gains and losses on investments at fair value was a gain of GBP2.8 million compared to a GBP500,000 gain last year. Swings to pretax profit of GBP4.6 million compared to loss of GBP11.5 million. EPS totalled GBP0.02 compared to LPS of GBP0.78.
Current stock price: suspended at EUR0.00050
By Jeremy Cutler, Alliance News reporter
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