results4 Apr 2012 08:31
· Net Operating Profit* in the Group for the quarter was £0.7 million on continuing operations, compared to a £3.0 million loss in the same period in the prior year. For the 15 month period the net operating profit was £6.8 million, up from a break even position in the 12 months to September 2010.
· The Group reported an impairment charge of £4.3 million on the carrying value of its investment in Lonrho Mining Limited, its ASX listed mining associate, due to the fall in its share price from AUD 0.043 to AUD 0.007. After this charge, the Group made a loss before tax for the quarter of £2.8 million and for the 15 month period, profit before tax on continuing operations was £1.9 million.
· Net assets at 31 December 2011 stood at £155.7 million. At 30 September 2011 the comparative figure was £151.6 million and at 30 September 2010 was £127.7 million.
· Cash balances held at 31 December 2011 totalled £12.7 million, compared to £14.6 million at 30 September 2011 and £7.8 million at 30 September 2010.