Final Results

30 September 2014

HERMES PACIFIC INVESTMENTS PLC

(AIM: HPAC)

Final results for year ended 31 March 2014

Hermes Pacific Investments Plc today reports its financial results for the year ended 31 March 2014.

Chairman's Statement

I am pleased to report the results of Hermes Pacific Investments Plc ("HPAC" or the "Company") for the 12 month period ended 31 March 2014. During the year the Company had no revenues as it does not have any operating business and the Company made a loss of £117,000, which has been reduced from a recorded loss of £122,000 during the previous financial year. We are focussed on our cost base and aim to keep it low particularly whilst we are in the process of deploying our cash. At the year end the Company had net assets of £4,128,000.

Review of the Company's Operations

The Company is an investing company and has made some investments in line with its investing policy in companies involved in financial activities within the emerging market sector. Our principal focus is in the Far East as we believe that there are good growth opportunities in that part of the world. These investments have had a mixed performance with two performing in line with our expectations and one rather poorly. We are in a strong position from a Balance Sheet perspective and our cash balance as at 31 March 2014 stands at £4.127 million. We continue to evaluate other suitable opportunities in emerging markets and with our strong Balance Sheet expect to make further investments in the near future. Our total comprehensive loss for the year was £183,000 compared to a loss of £99,000 for the previous financial year. The increase in loss is largely due to the large impairment of one of our investments.

The attractions of investing in emerging markets are that in these markets the trend is to urbanise fairly rapidly. These countries have young populations who aspire to the consumer products in the same way as the more developed western economies. These regions also tend to generally run sound public finances and do not have the disadvantage of bloated welfare state or a culture of state dependency. All of these factors create a sound platform for increasing profits and dividends emanating from investments in these emerging market companies.

Outlook

We are well positioned and look forward to the future with confidence.

Haresh Kanabar

Chairman

statement OF COMPREHENSIVE INCOME

for the YEAR ended 31 march 2014

CASH FLOW STATEMENT

for the YEAR ended 31 March 2014

STATEMENT OF CHANGES IN EQUITY

for the YEAR ended 31 march 2014

1. Statement of compliance

The financial statements comply with International Financial Reporting Standards as adopted by the European Union. 

2. Operating loss

3. Loss per share

4. Publication of non-statutory accounts

The financial information set out in this announcement does not comprise the Group's statutory accounts for the years ended 31 March 2014 or 31 March 2013. The financial information has been extracted from the statutory accounts of the Company for the years ended 31 March 2014 and 31 March 2013.

The auditors' opinion on those accounts was unmodified and did not contain a statement under section 498 (2) or section 498 (3) Companies Act 2006 and did not include references to any matters to which the auditor drew attention by the way of emphasis. 

The statutory accounts for the year ended 31 March 2014 have been delivered to the Registrar of Companies, whereas those for the year ended 31 March 2014 will be delivered to the Registrar of Companies following the Company's Annual General Meeting.

5. Annual report

The Annual Report will be available from the Company's website www.hermespacificinvestments.com from 30 September 2014 and will be posted to shareholders on or before 30 September 2014.