Last checked at 19 Dec 2012 07:00
Shellproof Plc announces unaudited interim results for the six months ended 30 September 2012 and completion of two long term farm business tenancies.
Shellproof Plc (London-AIM: SHLP)("Shellproof" or the "Company") was incorporated in England & Wales on 24 September 2012. The Company was admitted to AIM on 25 October 2012 following the merger with Shellproof Limited, details of which are set out in the Circular to Shareholders dated 10 October 2012. Shellproof Limited was originally admitted to AIM in May 2008 with the intention of seeking investment opportunities for its shareholders. Shellproof Plc intends to establish itself in the production, sale and distribution of English sparkling wine.
The interim results contained within this announcement reflect the position of Shellproof Plc as if the merger with Shellproof Limited had taken place on or prior to 30 September 2012. The results of the merged group have been presented as if the group had always been in existence.
The Company reported a net profit of ₤33,000 for the six months ended 30 September 2012 (2011 - ₤7,000). Basic and diluted earnings per ordinary share for the six months ended 30 September 2012 amounted to 0.41 pence (2011 - 0.09 pence).
The Company is also pleased to announce that it has executed two long term farm business tenancies in West Sussex, where it intends to cultivate approximately 17.5 hectares (43 acres) of vineyards for the purpose of producing English sparkling wine. This, together with the Company's existing freehold mature vineyard acreage of approximately 4 hectares (10 acres), will bring the prospective vineyard acreage to approximately 21.5 hectares (53 acres). This is in line with the Company's plans as set out in Shellproof's AIM admission document dated 10th October 2012, to increase its cultivation to approximately 61 hectares (150 acres) of vineyards and become one of the leading producers of English sparkling wine.
For further information contact:
Shellproof Plc
Ben Walgate/Ian Robinson +44 (0)20 7788 9239
Cenkos Securities plc
Adrian Hargrave +44 (0)20 7397 8900
Note: This announcement and other press releases are available to view at the Company's website: www.shellproofplc.com
Shellproof Plc | ||
Summarised income statement (unaudited) | ||
6 months ended 30 September | 2012 | 2011 |
₤000 | ₤000 | |
Interest income | 102 | 72 |
Administrative expenses | -69 | -65 |
Net profit before and after taxation | 33 | 7 |
Earnings per ordinary share (basic and diluted) (in pence) | 0.41 | 0.09 |
Shellproof Plc | ||
Summarised balance sheet (unaudited) | 30-Sep-12 | 31-Mar-12 |
₤000 | ₤000 | |
Fixed assets | 60 | 68 |
Current assets | ||
Cash and cash equivalents | 4,046 | 4,123 |
Other current assets | 238 | 104 |
Total assets | 4,344 | 4,295 |
Current liabilities | ||
Other payables | -39 | -24 |
Net assets | 4,305 | 4,271 |
Shareholders' equity | ₤000 | ₤000 |
Share capital | 4,000 | 4,000 |
Retained earnings | 305 | 271 |
Total shareholders' equity | 4,305 | 4,271 |
Shellproof Plc | ||
Summarised statement of cash flows (unaudited) | ||
6 months ended 30 September | 2012 | 2011 |
₤000 | ₤000 | |
Net cash generated from operating activities | -77 | 51 |
Purchase of fixed assets | 0 | -73 |
Net (decrease) increase in cash for the period | -77 | -22 |
Cash at beginning of period | 4,123 | 4,257 |
Cash at end of period | 4,046 | 4,235 |