Interim Results

LHP Investments PLC 28 October 2005 LHP INVESTMENTS PLC INTERIM REPORT FOR THE PERIOD FROM INCORPORATION TO 31 JULY 2005 CHAIRMAN'S STATEMENT OVERVIEW The company was formed as LHP Investments Limited on 20 January 2005 and became a PLC on 25 January 2005. No acquisition has been made during the period although acquisitions are being actively sought. At the date of the balance sheet the company had net current assets of £214,000, all effectively in cash. FINANCIAL OVERVIEW The company has not yet made an acquisition and the expenses incurred during the period relate to listing maintenance and administration. For the period a loss of £39,000 has been incurred, which on a weighted average equates to a basic loss of 0.07 pence per share; fully diluted the loss is 0.06 pence per share. No dividend is being declared. The directors will receive no remuneration until an acquisition has been completed. CASH FLOW AND FUNDING As stated above, the company effectively had £214,000 cash at 31 July 2005 for acquisitions and routine expenses and this amount has not changed materially to the date of this report. OUTLOOK The Board is actively pursuing potential acquisitions and hope to report favourable developments in the near future. L.E.V. KNIFTON Chairman 28 October 2005 For further information contact Leo Knifton, Chairman - 020 7251 3762 Nabarro Wells - 020 7710 7400 LHP INVESTMENTS PLC Profit and Loss Account For the period 20 January 2005 to 31 July 2005 Note £'000 Turnover - Administration expenses (40) ______ Operating Loss (40) ______ Interest received 1 ______ Loss on ordinary activities before taxation (39) Taxation - ______ Loss on ordinary activities after taxation (39) Dividends - Deficit for the period £(39) ______ Earnings per shares: Basic 2 (0.07p) Diluted 2 (0.06p) The company's turnover and operating loss arise from continuing operations. There were no recognised gains or losses other than those recognised in the profit and loss account above. LHP INVESTMENTS PLC Balance Sheet as at 31 July 2005 £'000 CURRENT ASSETS Debtors 9 Cash at bank and in hand 215 ______ 224 CREDITORS: amounts falling due within one year (10) ______ Net assets £214 ______ CAPITAL AND RESERVES Called up share capital 63 Share premium account 190 Profit and loss account (39) ______ Equity shareholders' funds £214 ______ LHP INVESTMENTS PLC Cash Flow Statement For the period 20 January 2005 to 31 July 2005 Note £'000 Cash outflow from operating activities 3 (39) Return on investment and servicing of finance 1 Financing - Issue of shares net of expenses 253 ______ Cash increase in the period £215 ______ Reconciliation of movements in shareholders' funds £'000 Deficit for the period (39) New share capital subscribed, net of expenses 253 ______ 214 Opening shareholders' funds - ______ Closing shareholders' funds £214 ______ LHP INVESTMENTS PLC Notes to the Interim Report 1. Accounting Policies The interim report has been prepared using accounting policies consistent with generally accepted accounting standards for the period ended 31 July 2005. This interim report for the period from formation to 31 July 2005 has been approved by the Board . 2. Loss per Share 20 January 2005 to 31 July 2005 Pence Earnings per ordinary share - Basic (0.07p) Diluted (0.06p) The loss per ordinary share is based on the company's loss for the period of £39,000 and a weighted average number of shares in issue of 57,637,306 basic and 61,880,829 fully diluted. 3. Reconciliation of operating loss to net cash outflow from operating activities. 20 January 2005 to 31 July 2005 £'000 Operating loss (40) (Increase) in debtors (9) Increase in creditors 10 ______ Net cash outflow from operating activities £(39) 4. These unaudited accounts do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. 5. Copies of this interim statement are available from the Company at its registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE. This information is provided by RNS The company news service from the London Stock Exchange
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