1 Oct 2012 07:00
IRF European Finance Investments Ltd
1 October 2012
IRF European Finance Investments Ltd
("IRF" or the "Company")
Six Months 2012 Results
IRF European Finance Investments Ltd (SFM: IRF) announces its financial results for the six months ended 30 June 2012 and three months ended 31 March 2012.
Financial Highlights
Amounts in € 000 | Six months ended 30 June 2012 | Six months ended 30 June 2011 |
Income Statement items: | ||
(Loss)/ Operating Income | 1,057 | 2,486 |
(Loss)/Profit Before Income Tax | (5,845) | (19,349) |
Income Tax Expense | - | - |
(Loss)/Profit after Tax | (5,845) | (19,348) |
Other Comprehensive Income, net of tax | (17,792) | (18) |
(Loss)/ Total Comprehensive Income after tax | (23,636) | (19,365) |
Basic Earnings (loss) per Share (in euro/share) | (0.04) | (0.14) |
Balance Sheet Items: | 30 June 2012 | 31 December 2011 |
Cash and Cash Equivalents | 1,291 | 4,600 |
Total Assets | 117,262 | 141,558 |
Total Liabilities | 177,439 | 178,098 |
Total Equity | (60,177) | (36,540) |
Amounts in € 000 | Three months ended 31 March 2012 | Three months ended 31 March 2011 |
Income Statement items: | ||
(Loss)/ Operating Income | 108 | 880 |
(Loss)/Profit Before Income Tax | (2,675) | (5,208) |
Income Tax Expense | - | - |
(Loss)/Profit after Tax | (2,675) | (5,208) |
Other Comprehensive Income, net of tax | (11,454) | 8,262 |
(Loss)/ Total Comprehensive Income after tax | (14,129) | 3,054 |
Basic Earnings (loss) per Share (in euro/share) | (0.02) | (0.04) |
Balance Sheet Items: | 31 March 2012 | 31 December 2011 |
Cash and Cash Equivalents | 3,371 | 4,600 |
Total Assets | 125,510 | 141,558 |
Total Liabilities | 176,180 | 178,098 |
Total Equity | (50,670) | (36,540) |
For further information, please contact:
IRF European Finance Investments Ltd
Angeliki Frangou, Chairperson Tel: +30 210 428 0560
Sheldon M. Goldman Tel: +1 212 404 5740
About IRF
IRF's principal investment strategy is to seek investment opportunities in global financial institutions, with a complementary focus on investments in distressed opportunities in other industries. The Company was initially listed on AIM until 19 January 2009 when it transferred to the SFM (Specialist Fund Market), both markets operated by the London Stock Exchange plc. The Company's registered office is at Canon's Court 22 Victoria Street, Hamilton HM12, Bermuda.
Forward-looking statements
All statements, other than statements of historical fact, included in this release are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. IRF assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
IRF.L (IRF)