Trading Statement

RNS Number : 7640B

Clear Leisure PLC

08 April 2013

 

8 April 2013

Clear Leisure Plc

("Clear Leisure", "the Group" or "the Company")

TRADING UPDATE

FOR YEAR ENDED 31 DECEMBER 2012

Clear Leisure (AIM: CLP), an investment company with assets in the Italian leisure sector, is pleased to update its shareholders on the trading performance in 2012, ahead of posting its audited final results in the second quarter of 2013.

The reason behind this update is that the audited final results will show, for the first time, a set of consolidated accounts across the Group, including the subsidiaries where the Company now owns over 50 per cent. Therefore, a comparison with the final results of 2011 will be difficult to make.

The Board would like to stress that the below unaudited unconsolidated financial extracts are not the final results for 2012, but have been provided to allow investors to make a direct comparison between the trading performance of the holding company in 2012 with that of 2011. In this way, shareholders can see the obvious improvements the Company has made during the year under report.

Assets

Unaudited net assets for the Company increased 78 per cent. to £24.2 million (2011: £13.6 million).

Liabilities

Unaudited liabilities decreased 56 per cent. to £5.5 million (2011: £12.7 million).

Profit

The Company reported an unaudited non-consolidated profit of £524,000 (2011: loss of £13 million, of which £9.3 million was impairment charges). No impairment charges were reported in 2012.

Operational expenses were reduced to £891,000 (2011: £3.9 million). The Board anticipates further reductions in 2013.

A non-recurring profit of £1.1 million was generated from the buy-back of Company debt at a discount, as announced on 25 March 2013.

Alfredo Villa, CEO of Clear Leisure, commented, "2012 was a dramatic year of change within Clear Leisure. We have met our targets to increase the value of our assets while lowering liabilities and expenses. The key milestone for the Group was the successful acquisition of the controlling interest in our three major assets and this will be reflected in our audited accounts which we will publish later in the second quarter. We are very happy with the performance of the Group over the past 12 months and these figures should help shareholders understand the momentum we are creating."

-ends-

For further information please contact:

Clear Leisure Plc                                                                                                [phone]

Alfredo Villa, CEO

Westhouse Securities                                                                              [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                               [phone]

Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure Plc (AIM: CLP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Clear Leisure's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. For further information, please visit, www.clearleisure.com

 

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