Final Results

RNS Number : 3962N

Shellshock Limited

28 September 2012

 

Shellshock Limited announces results for the year ended 31 March 2012

Belize City, Belize, 28 September 2012 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company") reported a net profit of ₤49,000 for the year ended 31 March 2012 (2011 - £63,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2012 amounted to 0.82 pence (2011 - 1.05 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.

Current economic and market conditions have made the search for investment opportunities challenging, 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 shares of Shellshock trade on AIM at an approximate 11% discount to the Company's net asset value.

The annual report of the Company is being sent to shareholders today.

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

For further information contact:

Shellshock Limited                                       

Belize [phone]                                    

UK [phone]

Note: This and other press releases are available at the Company's web site: http://www.shellshocklimited.com. 

 Income statement

Year ended 31 March		2012	2011
		UK₤000	UK₤000
Administrative expenses		(64)	(56)
Operating loss		(64)	(56)
Financial income		113	119
Profit before taxation		49	63
Taxation		-	-
Net profit for the year		49	63
Earnings per ordinary share
Basic and diluted (pence)		0.82	1.05

 Balance sheet

At 31 March		2012	2011
		UK₤000	UK₤000
Assets
Current assets
Cash and cash equivalents		3,052	3,001
Other receivables		21	19
		3,073	3,020
Liabilities
Current liabilities
Other payables		(19)	(15)
Net current assets		3,054	3,005
Net assets		3,054	3,005
Shareholders' equity
Called up share capital		3,000	3,000
Retained earnings		54	5
Total shareholders' equity		3,054	3,005

  Statement of cash flows

Year ended 31 March		2012	2011
		UK₤000	UK₤000
Cash flows from operating activities
Cash used in operations		(62)	(59)
Financial income		113	119
Net cash generated from operating activities		51	60
Net increase in cash and cash equivalents		51	60
Cash and cash equivalents at beginning of year		3,001	2,941
Cash and cash equivalents at end of year		3,052	3,001

-ENDS-

 

END

 

 

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