Final Results

RNS Number : 4780O

Shellshock Limited

19 September 2013

 

Shellshock Limited announces results for the year ended 31 March 2013

Belize City, Belize, 19 September 2013 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company") reported a net profit of £63,000 for the year ended 31 March 2013 (2012 - £49,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2013 amounted to 1.05 pence (2012 - 0.82 pence).

The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellshock management team.

The search for investment opportunities remains challenging given the current market and economic conditions; but the Board is confident that suitable opportunities will arise when market conditions improve.

The Board notes that, as of the date of this announcement, the mid-market price of Shellshock shares trade on AIM at an approximate 13.5% discount to the Company's net asset value.

Further details are set out on the Company's web site.

For further information contact:

Shellshock Limited                                       

Belize [phone]                                    

UK [phone]

Web: www.shellshocklimited.com  

 Statement of comprehensive income

Year ended 31 March		2013	2012
		UK₤000	UK₤000
Administrative expenses		(64)	(64)
Operating loss		(64)	(64)
Financial income		127	113
Profit before taxation		63	49
Taxation		-	-
Net profit for the year		63	49
Earnings per ordinary share
Basic and diluted (pence)		1.05	0.82

Balance sheet

At 31 March		2013	2012
		UK₤000	UK₤000
Assets
Current assets
Cash and cash equivalents		3,114	3,052
Other receivables		23	21
		3,137	3,073
Liabilities
Current liabilities
Other payables		(20)	(19)
Net current assets		3,117	3,054
Net assets		3,117	3,054
Shareholders' equity
Called up share capital		3,000	3,000
Retained earnings		117	54
Total shareholders' equity		3,117	3,054

  Statement of cash flows

Year ended 31 March		2013	2012
		UK₤000	UK₤000
Cash flows from operating activities
Cash used in operations		(65)	(62)
Financial income		127	113
Net cash generated from operating activities		62	51
Net increase in cash and cash equivalents		62	51
Cash and cash equivalents at beginning of year		3,052	3,001
Cash and cash equivalents at end of year		3,114	3,052

Copies of the Company's financial statements for the year ended 31 March 2013 are being sent to shareholders today and will also be available on the Company's website, www.shellshocklimited.com.   

-ENDS-

 

END

 

 

FR UKUBRORAKAAR