Volvere plc (AIM: VLE), the growth and turnaround investment company, announces its final results for the year ended 31 December 2018.
Highlights
£ million except where stated | |||
Year ended | Six months ended | ||
31 December | 31 December | 30 June | |
Group revenue | 18.64 | 16.15 | 7.37 |
Group loss before tax from continuing operations Group profit for the year (including discontinued operations) | (2.43) 21.10 | (0.15) 2.78 | (0.64) 0.91 |
As at 31 |
As at 31 | As at (unaudited) | |
Consolidated net assets per share | £12.50 | £6.59 | £6.75 |
Group net assets | 40.4 | 26.1 | 26.9 |
Cash and marketable securities | 34.1 | 18.5 | 20.4 |
- Disposal of Impetus Automotive Limited, acquired in 2015 for £1.3 million, for £31.3 million, of which the Group’s share was £26.1 million.
- Record group net assets of £40.4 million and record net assets per share(1) of £12.50.
- Share buy-back in October 2018, returning £6.06 million to shareholders.
- Satisfactory performance from Shire Foods, the Group’s food manufacturing business, which achieved revenue and profit before tax and intra-group management and interest charges(2) of £18.34 million (2017: £15.87 million) and £0.85 million (2017: £0.64 million) respectively. Profit before tax for the year was £0.65 million (2017: £0.44 million).
Forward-looking statements:
This report may contain certain statements about the future outlook for Volvere plc. Although the Directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.
Note
1 Based on the net assets attributable to owners of the parent company and the respective period end shares in issue of 3,118,109, 3,668,363 and 3,668,363.
2 Profit before intra-group management and interest charges is considered to be a relevant and useful interpretation of the trading results of the business such that its performance can be understood on a basis which is independent of its ownership by the Group. Further information is included in the Chief Executive’s statement and Financial review.
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